Shownotes
What a great story of planning, follow through and success. Do you have a plan? Are you looking for a way to scale your business with your own private label? Maybe bundles are for you?
Mentioned:
Mommy Income Wholesale Bundles Workshops
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Transcript:
Amy: [00:00] But then you get to explore competition. There’s 45 pages of red towel bundles on Amazon. Guess what that tells you? You’re not going to be able to land on page one and be successful with that bundle idea, but at each different step along the way, we help you make the decision of is this a go? Is this a no-go?
Cool voice guy: [00:16] Welcome to the e-commerce momentum podcast where we focus on the people, the products, and the process of eCommerce selling. Today. Here’s your host, Steven Peterson.
Stephen: [00:30] Welcome back to the eCommerce momentum podcast. This is episode 418. Amy Fearman. Uh, this is the third time I’ve had Amy on and um, it’s been a long time and we get into that. All right. Welcome back to the eCommerce [inaudible] podcast. Excited about today’s guest, a repeat guest, uh, from way back. She’s old. Well, not really. I’m old. She’s not Amy for your man. Welcome Amy.
Amy: [00:52] It’s great to be here.
Stephen: [00:54] Um, March, 2017. Can you believe it?
Amy: [00:57] Wow. That’s a lot. Has changed in the time since I was last on.
Stephen: [01:01] Well, actually this is the third time you want the first time you always act X [inaudible] episode 15 and at that point you were, you didn’t find your footing. And I think that’s a fair description. You had identified what you didn’t want. You knew that you were making big changes and at that point you had partnered up with Kristin but you were, you hadn’t found your footing by episode one 83. You were established, you were, you guys were on a path. Is that, is that fair?
Amy: [01:28] That is a very fair way to put it. Yes. And we’ve come even further now.
Stephen: [01:32] Well now you know seven figures bundling wholesale. Come on. Nobody does that anymore Amy. There’s no business model that works. Bundling wholesale.
Amy: [01:43] Uh, that’s the only one that works doing anything with wholesale. And that’s not completely true but it’s the one that we’ve found the most profit and we have built seven figure businesses on that.
Stephen: [01:53] I would agree. I mean even our wholesale, like if you sell a, I’m going to say water bottles cause I always look at my water bottle, but you know, one pack of water bottle, there’s really no competition. But if you do a two or with Gatorade, I’m bad example. But something with it complimentary that that is a model that still works today because you are solving the customer’s problem.
Amy: [02:12] Correct. And that is the most important part of bundling in the misstep that we see a lot of people do is well bundling doesn’t work well. It only works if you’re solving a problem. You can’t just put two products together and say, Oh this is cute. Or I think that works. You still have to do the market research to determine if this is solving a problem. If it doesn’t solve a problem, it’s not going to sell because nobody wants it.
Stephen: [02:33] Well an extreme example that you’re selling a TV, Ooh, I’m going to bundle two TVs together and give them a discount. That’s a good example, right? We’re just looking how many, I’m sure there are some, but how many people are looking for two large television? Nobody.
Amy: [02:47] No, but if you’re looking for two TVs, they’re looking for one for their living room and one for their bedrooms. They’re looking for two different sizes. It’s all about understanding the customer and understanding what you’re bringing to the table to meet need that they have.
Stephen: [03:00] Where do you draw that experience from? Is it because you’re a mom and you’re a Christian as a mom and you’ve got families or you’re looking at your, the extended family or friends? I mean, how do you, how do you start understanding a customer?
Amy: [03:12] Understanding a customer comes from a variety of different angles. When we dig into our wholesale bundle system and into our framework, one of the big parts of that is utilizing tools that we have. So part of it is your knowledge bank. So part of it’s understanding, and it’s not just me being a mom, but it’s me being a daughter, a wife, all the people that are in my network have needs, wants, desires. And I can feed off of that. Chris. And always calls it ear hustling and paying attention to other people are saying we’re struggles that other people are having because if they’re having it, they’re probably not the only person having that struggle out there. And so starting to understand that that’s part of it. Understanding what it is that you know, because every single one of us has a different journey that we’ve been on.
Stephen: [03:57] W let’s not leave the Christianism side. So the ear hustle. So you’re, when you’re, you would just Thanksgiving are you listening and paying attention to what they’re talking about and then digging deeper. Like are you listening to pro? What do you what, what’s a clue?
Amy: [04:12] Um, [inaudible] what are they talking about? What can’t they find online or what is it that they’re looking for? Specifically knowing. So somebody in my family is getting into rock climbing, which is something I’m very knowledgeable in cause I rock climb every week and just being unable to understand the pain points of somebody who’s new to something that I do really well, I can start talking to them about, well, why don’t, why don’t you have this gear? Why don’t you have to say school? I didn’t know I needed that. And so being able to start opening those conversations, sometimes it’s an open dialogue. Sometimes it’s just, huh, I hadn’t thought about that. I’m going to go and do some research online to see if that’s a need that’s met already or if it’s something that I should look further into.
Stephen: [04:54] And then when you, so two, two thoughts there. So when, let’s use your Bruck AMI example. So do you then go to Amazon and you look and you see there’s a harness and then there is a, I dunno,
Amy: [05:05] shop bag.
Stephen: [05:05] Okay. Yeah, of course. Like I know what I’m talking about. So, so, uh, you look to see that others have bought down the bottom that say that. So you’re like, okay, there’s a second, there’s a reinforcement to the what I was thinking,
Amy: [05:17] and actually I don’t go to Amazon first. No, we actually go to, well, we use merchant words for what we do, but whatever keyword tool that you use. But we found that merchant words is the best for bundling to understand if people care about this product, do people care or this, this idea, do people care about this? If their search volume for that, then okay, we can take it the next step further. But if I’m not even gonna take it that far, if nobody cares about it. For example, does anybody care about trying to think of something that’s crazy? Um,
Stephen: [05:56] mm. Uh,
Amy: [05:58] football, soccer, uh, I’m trying to think of cooking. Does anybody care about, okay, let’s think. Hold on. I’m going to pull this one out. Does anybody care about
Speaker 4: [06:17] cake?
Amy: [06:20] Tie? Die? Don’t ask. That’s random cake. Tie dye. It’s a thing. I’ve seen it on Pinterest. Do people care about this? Yes. People do this. Don’t ask. I don’t understand cake decorating. It’s not something I ever want to do. But do people care about cake tie dying? So if I went on to merchant words and typed in cake tie and saw that less than a hundred people a month were searching for that. I want you a couple of other word searches around that. Other words that people might use to see if there’s searching for under something different. But if I’m not finding search volume on that, I’m not going to take my process any further to finding vendors or looking into any of that because there’s nobody searching for that. So it’s not a problem that enough people have for me to solve.
Stephen: [07:02] Okay, so that’s the place you start. So right there, you saw that you heard your sister-in-law talking about, Oh, we’re going to do this cake dying. Okay, so you’re like, Oh that sounds interesting. Something I’m not familiar with. You then go search. Um, and you see there’s no volume. What number are you looking for in search volume to say, okay, let’s move forward to step two.
Amy: [07:21] Okay, so we are nontraditional in this. Most people are looking for, I need 100,000 I need 300,000 no, we actually, our target is very niche. We’re looking for 2000 to 6,000 is our sweet spot. You don’t need to sell 5,000 of one thing to all the people. Most of the things that Kristen and I sell, we sell anywhere from 50 to 150, maybe two 50 a month. We don’t need to sell 60,000 a hundred thousand. And what people forget is the higher the search volume, the more competition, the lower the search volume, the two to 6,000, the lower your competition is. So you get to have more, you’re more likely to show up on the first page. You’re more likely to show up on that top spot on the first page, because now no one, everyone else is too scared to target the niches
Stephen: [08:14] because it’s just too small. There’s not a big enough market. I can’t be 7 billion, there’s not a $7 billion audience there. Um, ho let me understand this. So on that particular bundle, the two to 6,000, your goal is to sell how many units? You said
Amy: [08:30] our goal is any, my minimum is I want to within three months be selling one a day. So 30 a month. I would love to see it hit the 100 to 200. We don’t like to dig deep on any one product. We go wide. And so Chris and I are different. We have a different variety of numbers, but anywhere from 60 to 200 been active skews at a time. So we’re not doing four,...