Amazon’s New Social Media Codes, Wasted Ad Spend, and Long-Term Storage [Episode 28]
Welcome back to the E-BusinessOnline Podcast – this is Episode 27 where we’re talking about Amazon Seller Fulfilled Prime and some of the pitfalls in purchasing liquidation lots for resale.
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Today’s Show Topics:
- Amazon announces new “Social Media Coupon Codes” and gives sellers their own landing page to promote discounts. This can be a great way to easily get a landing page with your promotions to share on social media. One of the biggest advantages is that Amazon gives you settings to control the # of units a customer can buy and how often. It’s also an Amazon-built landing page so the customer is one click away from ordering your product. The biggest disadvantages is your loss of control on design and the ability to collect email addresses to build your list, as well as the inability to add your retargeting pixels (Facebook, Google, etc).
- How much wasted ad spend do you have? This is a question I was forced to address when my friend, Jon Kragh, owner of MySellerPal.Com, messaged me on Facebook to take a look at his new tool that shows this at-a-glance. I was shocked to find nearly $3,000 in wasted ad spend in the past 60 days. “Wasted Ad Spend” is those keywords that have clicks, costing you money, with no conversions (orders). Whether you use a tool like MySellerPal, Ignite, or just download the search term report in Excel – this is something everyone should check on. The surprising thing was that the wasted ad spend wasn’t a few expensive keywords, but was hundreds of cheap keywords that added up to thousands of dollars.
- February 15th is the date Amazon will charge Long Term Storage Fees (LTSF) on aged-inventory. Be sure to login to Seller Central and go to Reports > Fulfillment to find your aged inventory and possible LTSF so you can avoid these fees by removing inventory or discounting it to liquidate prior to the deadline.
I’d love to have EBOers report back on what they discovered in “wasted ad spend” – let’s see how much wasted ad spend we can report and more importantly, LET’S DO SOMETHING ABOUT IT!