In this episode, host Greg Shuey and guest Matson Tolman, CEO of Evolve Commerce, delve into the intricacies of selling on Amazon in 2024. The discussion covers emerging challenges for sellers, including the use of artificial intelligence (AI) in enhancing sales strategies, navigating increasing competition, and managing rising costs on the platform. Stolman shares his journey into the Amazon marketplace, starting from a side hustle in product sourcing from China to establishing Evolve Commerce, which focuses on growing brands' sales and distribution on Amazon through an agency model.
The conversation further explores how sellers can leverage AI to improve their Amazon presence. Tolman highlights the significance of content generation aided by AI tools like Amazon's Generative AI and ChatGPT for crafting compelling product descriptions and bullet points. Additionally, they discuss other AI-driven tools for product research and advertising, emphasizing the importance of targeted content and strategic keyword use to improve product visibility and sales. Tolman advises sellers to expect and adapt to competition by focusing on building a strong brand presence both on and off Amazon.
Finally, Tolman addresses the financial aspects of selling on Amazon, including the platform's commission fees and the costs associated with Fulfillment by Amazon (FBA). He stresses the importance of understanding and managing margins to ensure profitability despite Amazon's fees, which can consume a significant portion of sales revenue. The discussion concludes with the necessity of diversifying sales channels beyond Amazon to build a resilient brand, highlighting the potential of platforms like Walmart and the power of building a strong community through branding and customer engagement strategies.
Episode Links
- Greg Shuey LinkedIn: https://www.linkedin.com/in/greg-shuey/
- Matson Tolman LinkedIn: https://www.linkedin.com/in/matson-tolman-9840458/
- Evolved Commerce: https://evolvedcommerce.com/
- ZonGuru: https://www.zonguru.com/
https://www.stryde.com/cracking-the-amazon-code-strategies-for-growing-your-brand/
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