Each week I am trying to update everyone on my apparently audacious goal this year, which was to set out at the end of January to go directly to China, source a bunch of products, get them on a boat before Chinese New Year, get them back to the US, and launched before I leave to go back to China at the end of March or less than 60 days. That is like launching 1 product a day for 50 days.
To bring you up to speed. We did successfully get to China and got most of our orders on the boat before CNY. We did get samples for all but 1 of my product shipped to me via DHL from the warehouse in China. So we have been doing all the work leading up to the arrival and prep of the products.
So last time we discussed all the issues and challenges, we were having and that we finally were creating the inbound shipments into Amazon. This last 2 weeks have been a challenge as well. We exceeded our paypal merchant account and so it left us with the challenge of being able to charge for services rendered with GDW. Talking to some young guy at PayPal right out of school about what we do as a 3PL was like talking to wet sand. So, they decided helping people get their product into Amazon from all over the world was too risky and dumped us. So, the last two weeks have been all about getting that fixed as I was personally fronting 100k in shipping, duty, and other charges for customers but could not get paid…. Yay! more money… more problems.
In the middle of dealing with that we were able to get 8 new products with variations into Amazon. They are live and we have actually began launching one and set up the launches for them, which should start happening tomorrow.
We also have 2 more families of products with 24 variations inbound and launches being developed for those right now. We have listings for 4 more products completed with photos just need to ship the goods into FBA so we can begin launches. And we have over 40 SKUS left to go. All they need is packaging, labeling, and shipping into Amazon to launch.
I hope to get another 12 to 13 products into Amazon this week for launch next week.
We are using a couple of launch strategies:
1.) Reviews + PPC = Sales Benefits = Cash flow, Drawbacks = slower revenue growth, PPC can cost a lot so watch the ACOS.
2.) Launch Services = Give aways/ Promo, Benefits = BSR and Reviews go up fast. Drawbacks = cash cost up front is high and have to keep boosting to get to stick at rank.
3.) Social Media advertising and off Amazon sales = Benefits = COS is way lower so profits are higher. Drawback = top line revenue lower, sales spike with influencers but quickly dip again.
At this point it looks like half of our products fit service 1 and half fit service 2. We only sourced about 10 products for a niche site and that is moving along well. Should be ready to launch in a couple of weeks.
Here is a list of what we are working on or have completed .
1.) PL Product Launch Spreadsheet (Done)
2.) Keywords (Done)
3.) Main Amazon White Photos (Done)
4.) Live Action Photos (Done)
5.) Call Outs and PL protection on photos (template approved and done, working on upgrades to all listings)
6.) Hanging Tag Design (Done)
7.) Inserts Design (Done)
8.) External Shopping Cart Launch Platform (In process)
9.) Pre-launch emails (VIP club invite emails done, individual product emails in process)
10.) Product Descriptions (Done)
11.) Packaging (Done)
12.) Off Amazon marketing (strategy is done, initial ad work being developed) (Starting with Facebook for specific products, so far testing has been very good, Instagram is being developed now.)
13.) Amazon PPC Strategy Implementation (In process as we launch new products)
14.) Logo designs (Done)
As you can see we really only have to finish packaging, shipping into FBA, and launching and we can call these done. Too bad I purchased 22 more in China last trip which should start arriving at the end of the month. So, in reality I plan on launching 1oo products or more before the end of the year…..should add 250k a month to my top line revenue. With only 1 more China trip for the year coming up I will need to source about 30 products to hit the numbers and launch and the results of my efforts should start to pan out soon. I will for sure keep you all up to date as we are actually launching now.
If you have any specific questions please feel free to comment below and I will do my best to get back with you. The goal to launch 150 product this year is in play, and 50 in 2 months is completely crazy, but I would rather shoot for 50 and fall short than shoot for 1 or none. Action of any type is better than sitting on the sidelines wishing.
I will continue to post about the 50+ product launch in 60 day adventure as my goal for the year is to do this 3 times and launch well over 100 new products in multiple categories and grow the heck out of the beast and automate launching new products as much as possible like a well oiled machine…
So in hearing about how I am launching all these products so fast are there questions you may have about why, what, how? Feel free to comment below.
Would you benefit from launching more products faster? Come to China with me and learn to source like a pro, but also mastermind with me every night and learn how to determine good products and launch them. gdwinc.com/china-super-sourcing/
Keep in touch by joining our FB group. GDW Facebook