The discipline of truly understanding your accounting, your numbers, and your profits will help you to make decisions quickly and easily.
In this episode, Jon Tilley talks about how important metrics and data are for every Amazon seller. He stresses how the marketplace has matured and why you should clearly understand your market, your niche, and your competitors in order to rank and be successful on Amazon. Pay close attention as Jon shares what happens when sellers don’t use data and the tools to their fullest potential. Listen and enjoy!
Jon Tilley initial career spanned 15 years working as an account director & strategist for some of the top digital agencies in Johannesburg, London, and Los Angeles before starting his own business. He started his Amazon Seller journey in 2014, launching multiple successful private label brands selling and scaling sales beyond 7 figures. During this time, Jon saw an opportunity to create a business intelligence software tools for Amazon Sellers, co-founding ZonGuru in 2016. ZonGuru continues to launch tools ahead of the market, and use data-driven techniques to help its customers create and run successful Private Label businesses on Amazon.
[00:01 – 06:05] How to Use Data and Metrics to Create a Successful Amazon Business
• How Jon saw an opportunity to create a business intelligence software tools for Amazon sellers
- Launching his own successful private label brands on Amazon
• Understanding your metrics and data is essential for every Amazon seller
• Networking is key to finding like-minded individuals, which can open up many opportunities for you in business
[06:06 – 22:43] How to Succeed on Amazon in a Matured Marketplace
• How the marketplace has matured and how this affects sellers as a whole
• The four fundamental questions that you need to answer when evaluating a product idea
- You need to do research on your target audience and understand their needs and wants
• The importance of networking and taking action
- Successful eCommerce entrepreneurs are those that are curious and want to learn
• One of the key factors for success is having a gut feeling that comes from experience and learning
[22:44 – 33:11] How to Launch a Product on Amazon That Will Succeed
• There are certain things that successful business owners should never neglect
• The key points for entrepreneurs when it comes to Amazon and e-commerce
- Understanding the relevancy of keywords, quality score matching, and PPC campaigns
• Account health, inventory health, and imagery efficiency are all important factors in Amazon’s evaluation of sellers
• How a launch strategy that includes using programs that Amazon offers is essential for success
- It’s important to know when to discontinue selling an inventory item to avoid losing money
[33:12 – 39:33] Wrapping Up!
• The key to being a successful entrepreneur
• Jon on the rapid-fire questions
Connect with Jon
Key Quotes:
“Data is always 50% of the equation, and the other 50% is the gut feeling.” – Jon Tilley
“There’s a lot of data. You have to understand how to use that to make good business decisions.” – Jon Tilley
“You want to make sure you do the best you can at something, and then know when to stop and move on to the next thing.” – Jon Tilley
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