E544: What You Need to Do to Be Successful on Amazon in 2024

Neil Twa from High Voltage Business Builders joins us on the podcast to drop some massive value bombs. He breaks down how you can increase brand awareness on Amazon, his approaches to Product Development, and how you can restart the Honeymoon Period on Amazon. Listen in for some great lessons from Neil! 

Amazon's only getting tougher and tougher. 

It seems like the laundry list of things that you need to do to ensure success keeps getting longer and longer after each year, but what exactly are the things to do? 

I've asked Neil Twa to join me on the podcast today to talk about this very topic. Neil has actually given me a lot of high value thoughts during this recording that I think you should probably listen to on repeat over and over, as there are some things that just come off as surprising. 

Here are just a few: 

Lesson #1: Below the $50 retail price point, you'll be competing against a lot of brands. There isn't as much increase in competition in the price point of $50 – $150 retail. 

Lesson #2: Get more than 1 manufacturer just so you don't have all your eggs in one basket. 

Lesson #3: Never get started with electronics. 

If you want to skip to certain parts of today's episode, here are some timestamps!

• 0:00 – Intro
• 0:32 – Neil's Podcast 
• 1:20 – What you need to do to be successful on Amazon 
• 2:06 – Con #1: Platform Risk  
• 2:56 – Con #2: Increased competition 
• 4:38 – How to Increase Brand Awareness on Amazon
• 8:43 – How to approach Product Development 
• 12:46 – Why oversized products have to be priced correctly
• 14:54 – Never start with electronics
• 15:45 – Neil's product rules 
• 16:38 – How to increase your product's perceived value 
• 24:03 – How to restart the Honeymoon Period 
• 24:49 – Google Cosmo 
• 29:15 – How would you start an ecommerce business today?

Neil, I can't thank you enough for coming on the podcast. It was great having you on and these lessons are surely going to be valuable for a ton of listeners. 

If you guys want to hear more from Neil, check out the High Voltage Business Builders podcast! 

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Thanks for listening!