Note: Amazon calculates sales, NOT the price the customer actually pays that passes along to me. In the image below about 35 sales were given away (mostly due to my error placing the promo code live on the product page).
84 units sold
$1,804.16 in sales (excluding the 35 units given away). Also keep in mind I had to raise my price to slow sales slowly after my launch.
Okay so before you take a peek at my first week earnings, please note that not all of these are actual sales generating money.
For some reason Amazon calculates sales at the listed price, NOT the price the customer actually pays that passes along to me. In the image below about 30 sales were given away (mostly due to my error placing the promo code live on the product page).
56 units sold
$964.44 in sales (excluding the 30 units given away). Also keep in mind I had to raise my price to slow sales slowly after my launch.
So the first week I went live I noticed that I took off a bit faster than I anticipated. A big part of that was a major mistake with a promo I did (see Promo Boo Boo post). My sale count was high, my ranking got a boost, and my organic sales started to pour in. I did a 12 unit day when it hit me, “Ryan, you’re going to freakin’ run out of stock.”
Now running out of stock will do a few things. 1.) Well, the obvious, you have no stock, you sell no goods, you make no moolah and that’s never good. 2.) Your seller ranking and product rank goes down. 3.) It’s possible, with enough negative actions to your seller account that you lose your ability to be prime eligible, meaning people don’t get their 2 day free shipping anymore, ouch!
So I increased my price by almost double to slow sales. It was a great idea right? Well sales still came in, slowly but surely and even more surprisingly it too snuck up to now 8 units a day!
I have more stock on the way, but Amazon’s warehouse likely won’t receive it until the end of January. I am pretty sure that without yanking the price up yet again, I will run out of stock.
I’m okay with running out though. I plan to be back in stock and lower the price slightly. Once I get another payout, I’ll make my order large enough to cover 2 months worth of sales. It’ll be a little tricky estimated the sales, but I’m confident I can get close.
When making your promo code be sure to do two things.
1.) Check the box that says “one redemption per customer”
2.) UNCHECK the box that allows your promo to show on your product page for all to see
I forgot to do both and just like that, a little over a dozen of my products were gone to people I didn’t intend to share my promo code with.
The upside? I got a huge boost in ranking and the organic sales rolled in the same day. I refreshed my computer several times and consulted with other successful sellers thinking it was a fluke…it wasn’t. I was official getting organic sales!