I'm going to bring to you the top 10 myths about

selling on Amazon. The cheapest price of product

always wins. This is not true. There

are other ways that you can help drive sales without spending money, and

that might be you come across Kim Kardashian walking down the street, you

tell her you've got your amazing teal colored yoga mat,

and she promotes it and tells everyone it's available on Amazon. All

of a sudden, all Kim's fans are gonna rush into Amazon, buy

your product, and that's how you can shortcut spending money on ads. But good

luck getting into Kim's orbit. Can you set up your Amazon account and

just forget it? Well, the answer is no. I'm Matthew Fraser

and this is Amazon Ecom Secrets. I'll

be sharing with you the secrets that helped me go from millions in

debt to an eight-figure entrepreneur. If you're

ready to escape the nine-to-five and live life on your terms,

let me show you the way. Today, I'm going to

bring to you the top 10 myths about

selling on Amazon and let's break them all down. All

right, myth number one is it's

too late to start on Amazon. Oh

my goodness, how many times have I heard this? And this doesn't just relate

to Amazon, this relates to everything in

business. Everyone says it's too late to invest in property, the

market's going to crash any moment. It's too late to invest in Bitcoin, it's

already gone up to record highs. It's too late to invest in

X, Y, Z, including Amazon. Now, if that

was the case, then people just wouldn't invest in anything. Because

there's no doubt, when you start an Amazon-based business, you're

putting money down and there is a level of risk. There's

a level of risk to anything. And it's all about timing. I would

say, to a lesser degree, Bitcoin and the

property market, and stocks for that matter, It's

more about a time frame. You're going to hold that. The longer you

hold it, the better off you're going to do. The shorter time frame you have,

the more volatile the market could possibly be. Now,

when investing in a business like Amazon, yes,

I admit it used to be a lot easier because

there was less people on the Amazon marketplace. But

if you're coming to Amazon with a unique, incredible

product, It doesn't really matter. Simply think

of Amazon as a tool to

help you sell your product. That's all it is. Whether you sell

it on Shopify, whether you sell it on eBay, it doesn't

really matter. Amazon is just a tool to help you

sell your product. And if it's amazing, you would definitely use

the platform to sell it. Myth number two, can you

set up your Amazon account and just forget it? Well, the

answer is, well, to a degree. I

know from experience that there's

a lot of work in the beginning. You're setting up your Amazon account. You're setting

up your listings. There is a level of optimization. You're

always improving the images. You're improving the

title, the bullet points, the description. You obviously

want to do that so you can maximize the sales on

the Amazon marketplace. But I

will say, yes, you can kind of set and forget

after a certain point. There's only minimal changes that you

may or may not need to make as time progresses. Because once

you get it dialed in and it's just coasting along nicely, there's

really no need to change it. And I always say, if

it ain't broke, don't fix it. All right, myth number three.

The cheapest price of product always wins. And

I would say this is not true. And

I'll give you some context behind it. In general, if

you had a product that was very generic, let's

say it was cable ties,

something super boring like that, or even just a

pair of socks. Yes, if you're selling

a white pair of socks against another white pair of socks, I

would say, for the most part, people are going to go the cheapest price. But

if you've got something that's unique in the marketplace,

even if you've got competitors and you've got great branding, great

reviews, I know for a fact that

you can sell that product for more. And I'll tell you exactly how I've

done it. I have a healthcare product. When I started in

the Amazon marketplace, I was selling my price point cheaper than

the two other competitors in the market. And

over a very short amount of time, I just kept increasing the price, you

know, $2, $3 at a time over every month or so. And

it got to a point where I was actually the highest priced item.

And even since then, there's been way more competitors now

coming to try and steal my sales away. But I've now got

the highest price point still on the Amazon marketplace. Because

what I then discovered was people have a mindset of,

if it's a higher price, it must be better. Okay. And

so that's the philosophy that I now use. And

I have the reviews to back it up as well. Myth number

four, more products equals more

success. This is a yes

and a no response. It's a

horse for courses. It's a case by case scenario. I'll

give you the two scenarios. I actually did have a period of

time where I was selling more products on the Amazon marketplace. And

I just thought having more products would equal more success. But

it turned out that by having other products, it didn't, it wasn't the

case. I had out of the 10 products that I was

selling on Amazon, there was about three products that just stood

out from the rest. And so what ultimately ended up happening was

I dumped the other seven products and just stuck with the

three core products that did 97% of

the sales and just focused purely on those. It

might be different for you though if you're buying an existing Amazon

or Ecom business because if you've already got a

business that let's say for example is a yoga mat business

that's already successful and then you go and buy another

business which might be in the sports drink

Now, it may be different if you're buying an established business.

So if you have a yoga mat business that's quite successful, then

you go and buy a supplements business, which is symbiotic to

the yoga mats business, then that would be a case of expanding out

your products to increase the sales and

profit, which ultimately would be more successful. Myth

number five, positive reviews will come naturally.

Well, I can tell you just as a matter of fact. The

statistics are that only 2-3% of

your sales will result in reviews. So you can imagine, that

is the numbers. So you have to sell thousands and thousands of

products to ultimately get to doing hundreds of

reviews. Now, they won't come naturally. In the very beginning,

you've really got to push it hard. So if you're launching a product from scratch,

you've got to get onto your auntie and uncle and friends and family to

Maybe buy a product from you from Amazon to leave

you some positive feedback and review on your product But

if you can't do that, no problem What

you can do is use Amazon's Vine program. So

Amazon has a program that's designed specifically for people who are

launching brand new products on Amazon. And this is probably the best way

to go. Because the other way, guess what? It's against terms

of service. Using your friends and family is against terms

of service and could get you suspended. So that, although

you could do it, it's not something you would do because now Amazon has the

Vine program anyway. And in the Vine program, you can

nominate how many products you'd like to give away to third-party

Amazon buyers so they can test your product

and leave a review for you. It's a very successful way to

help you gain reviews in the very beginning of your launch. Myth

number six. Amazon will take care of everything.

Now, this is a funny one because I remember when I first started

on Amazon and I saw the sales pitch to

do an Amazon course and it said, look, Amazon takes care

of this and they take care of the customer and they send the product. And

I thought, wow, this is an incredible opportunity. This is the

business model that I want just completely hands off. And

I will say, for the most part, it is. Amazon

does actually store your product, fulfill your

product, and ship the product to the customer if

you have your products in what's called Amazon FBA, which is

fulfilled by Amazon. So here's how it works. You

buy your products from the supplier, which might be based in China. For my

case, they're based in Australia. I then pay my

supplier for the products. I still don't touch it. The

supplier ships the product all the way into the USA.

It goes into an Amazon warehouse. I'm still not touching it. And

then Amazon stores that product on their own warehouse shelves.

And then Amazon also brings the customer.

So they do all the advertising of why Amazon is such a great place

to buy products. So they're bringing the customer into the Amazon platform.

They're buying your products. And then when you

make a sale on the Amazon platform, The Amazon people

will pack your product off the shelf, put it into a package and

send it to the customer. All handled by

Amazon and that's one of the powerful things that Amazon provides

and why they've become so successful and why so many people like

brand owners and product designers and manufacturers want

to sell on Amazon because it is for the most part

quite simple. Will they take care of everything? Of

course not. There's some things that you have to handle. You have to handle

the bit before Amazon, like manufacturing and securing the

product. And you may even have to do some post-sale things,

like for example, if the product is defective, if

the customer returns the product back to the warehouse, you may have to

do some follow-up. But I can tell you, selling on

Amazon compared to selling on Shopify is chalk

and cheese. Shopify, there's way more work. Amazon,

it's basically a walk in the park. Myth number seven, success on

Amazon means success everywhere. This

is not the case. I completely disagree with this one. Just

because you are successful on Amazon does not mean that

you will be successful on eBay, on Shopify, on

Best Buy, on Walmart, for a whole host

of reasons. Now, let me give you just one. You may have

6,000 reviews on a product on Amazon, but when you go to

eBay, there might be one review. Right?

So when people are shopping on Amazon platform and they come across

your product with 6,000 reviews, you've already

built up a lot of trust. with

the Amazon customer. And that's why they're going to be more inclined to

buy it on the Amazon platform. Now that said, I have

products on Walmart, on eBay, and Shopify

as well. And people do buy on them. But I can tell you

from experience, my most successful platform

or way of making sales is definitely Amazon. And

it's Amazon USA, which has the biggest marketplace in

the world. Hey guys, I just want to break away from the episode for just one moment and

let you know that I've just launched the Amazon Launchpad mini course. Now,

this is designed for people who want to get started on Amazon really,

really fast. But guess what? I can get you launched your first product on

Amazon with just five hours. You just have to click on the link below, join

my community, and the course is absolutely free. All right, thanks

guys, and back to the episode. Myth number eight, I

need to spend a lot on ads to succeed. Well,

this is a case of in the beginning, yeah, you may have to.

You want to spend money on ads because you want customers on

the Amazon platform to see your product. Now, when

you first start on Amazon, let's say you're starting in the yoga mat

niche. You've got this amazing yoga mat. It's a teal color.

It's never been seen before. But in the sea of

yoga mats, you're going to be at the very end of page

30. And I can tell you, No one is going to be searching

through 30 pages of yoga mats just to come

across yours. So the only way to be seen on page one

or two of yoga mats is to shortcut it

by paying for ads. And this is

a great way to be seen in the beginning, especially when

you've got no reviews, you've got no sales ranking as well, because the more

sales you do, the higher the ranking you get, and the more up

the pages you're going to be seen. Because think about it, Amazon

only wants to promote and sell products that sell.

Because the only way Amazon gets paid is when a

customer buys your product. They take 15% straight off

the top for your product. They don't want to just have your product on

page one, taking up room against other

people's products, and you're not making any sales. It would be

a complete waste of time. But if you've got something,

there are of course some hacks that you can do, like having optimized

listings, great images, optimized bullet points,

making sure all your keywords are in the right place. But even still, you

could have all that and still be at the very back. And that's why you've got to build up

the sales by starting off with spending a fair bit of on

ads to ultimately you transition from spending a lot of money on

ads to spending as little money as possible on

ads. There are other ways though that you can help drive

sales without spending money on PPC ads, which is

pay-per-click ads on Amazon. And that might be as

an example, you come across Kim Kardashian walking down

the street, you run up to her, you tell her you've got your

amazing teal colored yoga mat and how she should use it.

And she does, and she promotes it on her Instagram channel and

tells everyone it's available on Amazon. All of a sudden, all

Kim's fans are going to rush into Amazon, buy your product. Without

any ad spend, your listing is going to move from page 30 right up

to page 1 because now it's a big seller. And that's how you

can shortcut spending money on ads. But good luck getting into Kim's orbit. Myth

number nine, Amazon is only for big brands. This

is false. This is false. This

is the great thing about Amazon. You can actually, people

don't even know this. If I wanted to, I could

come up with this phone case. I could send this one

phone case into Amazon USA, into their massive

warehouse. One. And I could list that on Amazon and

sell it. Did you know that? One. So

clearly, I don't have to be a big brand. Now,

of course, I wouldn't just send one. I'd probably send 10,000 of

these phone cases. But it means I

can still be little old me working out of my house or

my garage. I don't have to have a big corporate office in

the center of town with 1,000 employees and a big marketing division, right?

And that actually is where you can succeed

in Amazon because some of these big, big corporate institutions,

they don't know how to sell on Amazon. That's why I've been

able to secure distribution agreements with other brands who

didn't know how to sell on Amazon. So I become the guy who sells

their product on Amazon. And that's how I've been able to

do $50 million in sales on the Amazon platform. but

simply by knowing how to sell on the Amazon platform

when other people didn't. And that could be your opportunity as well. That's

one of the things I actually teach in my exclusive community

is how to find, how to source, how to negotiate, and

how to get contracts on existing products that are in the marketplace that

aren't even on the Amazon platform. So if you want to check that out,

make sure you click on the link somewhere around the description and come into the community and check it out. And

I look forward to seeing you there. Now, myth number

10. Once you're successful, you can coast along. Well,

I would say this is not a myth. For

the most part, this is true. I would say the work that

I put in now compared to when I first started is completely different.

Now, I'm way more relaxed. It's more a case of

managing the the logistics, managing

the manufacturer, the supply chain, as opposed to the

Amazon listing itself. Because the Amazon listing for me has been up for

years now. It's tried. It's proven. It

works. I make sales. And as I said before, if

it ain't broke, don't fix it. That is a secret with Amazon. If

you're making sales, don't change the listing because who knows what could happen. Okay guys,

I was going to do the top 10 myths but now I've just

been given another four. So let's check out another four myths.

Myth number 11, Amazon will always benefit

the buyer. This is true. This is I guess a

bugbear of sellers on Amazon is that Amazon

believes in the customer is always right.

Always. Even if they get your product and they smash it and

they said it was crap and they send Amazon decides

with the buyer. Now, the benefit of that is

this. Because Amazon benefits the buyer so

much, it brings millions of people who

trust and love Amazon as a customer to come

to the platform because they know that if anything goes wrong

with the product, an issue with the shipping, the product breaks

down, the product's destroyed in shipping or something, they

will always side with the customer. So that's why

it's become such an institution in America, especially

where it all started. People love Amazon because it's trusted. It's

so hard to build trust with customers and that's what Amazon is so

good at doing over the past so many decades. As

much as a seller, we kind of, you know, we get a bit dismayed at

some of the things that Amazon do, but ultimately, it has actually worked

in sellers' favor by bringing so many customers to the platform. Myth

number 12, Amazon fees are excessive. Well,

it depends what you call excessive really, isn't it? But I

would say Amazon does charge a

lot in fees. They're going to take 15% straight off the top for

your product. But this is why it's so important to

do your numbers before you ship things into the

Amazon marketplace. So you want to find out what is the cost of

goods? What is the shipping price into Amazon? What

is it going to cost to store your product for an extended period of time? Because

you can't have your products in Amazon warehouse forever. They're going to charge

you storage initially and then excessive storage. So

you may want to get it out of storage in fact. And there's been cases for me where I've had

to get my stuff out of storage of Amazon because it was going to cost me way

too much because the product wasn't selling for example. So there's

that and of course on top of that there's also ad spending within Amazon as

well. So all of these metrics need to

be mapped out,

explored to ensure that you are

successful on the Amazon platform. Now that said,

If you don't want to be on the Amazon platform because you think their fees are

too excessive, well then don't be on the Amazon platform, right?

You could be on your own platform, and I don't mean platform, I mean like your

own website, like your own Shopify store. But

of course, the problem with being on your own Shopify store

is you now have to go and get the customers. Okay, and

so that could become excessive for you, right?

Or you could go and open up your own bricks and mortar store in

central town. Now you're going to have to go and lease

a building or buy the building. You have to fit out the building. All

of that is going to cost you tens if not hundreds

of thousands of dollars just from the outset. before

you've even sold a single thing. So now when you're

thinking about Amazon is excessive, well then

I guess define for me what excessive is. Myth number 13, Amazon

makes more money from ad revenue than

it does from the seller fees. Now, I

don't actually know for sure because I'm not privy to

Amazon's P&L. But I'm going to make a guess

here and say it's probably true that Amazon does make

more money in PPC or pay-per-click ads for

sellers on the Amazon platform than it does by just

general sales commission from

making sales, like the 15% off the top for example. But I can

tell you Amazon make fees on pretty much everything. There's going to

be storage, there's going to be fulfillment fee,

there's going to be obviously the sales

fees, and the big one is ads. But Amazon has

also branched off out of like Amazon Web Services now

too, so they're making money everywhere. But

again, I'm just going to go back to the point that you have to make sure you do your due diligence

in understanding the costs before going into Amazon. And

myth number 14, and folks, I promise this

is the last. Myth number 14, it's

easy to get rich on Amazon. I

tell you what, if it was easy to get rich on Amazon, everybody

would be on Amazon. It's the old story. It's not

easy, but there are easier ways to get rich on

Amazon by learning from those who have already become

rich before you. Now it might be myself, it

might be someone in your local town who you know, but definitely getting

mentoring is one way to at

least improve your success. Because even if you get a mentor, there's

no absolute 100% ironclad guarantee that

you'll become rich because there's so many other factors that become

involved in the process of you getting rich. But I

would certainly try and get as much information from someone who's

already done it first before I set out and spent

tens if not hundreds of thousands of dollars on trying to get onto the

Amazon marketplace. Take

it from me, it wasn't easy for me to

get rich on Amazon, but I stuck in there, I worked really hard,

my first two products weren't successful, but ultimately the

third product that I sent in has now made me a multi-millionaire. And

I hope it does the same thing for you too. All right, guys, look, those myths were

actually fun. I hope you enjoyed them as well and I hope I broke down some myths

or facts about the Amazon marketplace. Thank you so much for joining

me on this episode. Look forward to seeing you next time on the Amazon Ecom

Secrets podcast. All right, take care. Thanks for tuning into Amazon

Ecom Secrets. If you enjoyed this episode, the best way

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can also find more at I'm Matthew Fraser

on all social media platforms. Thanks so much. Take