The Amazon Launchpad Program presents an amazing opportunity to entrepreneurs starting new brands and yet not many people have heard of it. David Clark knows how awesome this program can be and is passing his knowledge on to you. You’ll learn about the side benefits of crowdfunding, the pros and cons of going into big-box retailers, and what the Amazon Launchpad Program can do for you.
Takeaways:
- Using a Kickstarter or Indiegogo campaign gives your company many benefits beyond just the money raised. When you run a successful campaign, your company will get a massive amount of exposure, awareness, press, etc.
- When your product raises a lot of money through these crowdfunding campaigns, it gives validity to your brand and product. This will help make companies like Amazon and other retailers interested in carrying your product.
- The Amazon Launchpad Program helps new entrepreneurial companies with their go to market strategy. These brands will be prioritized within Amazon and receive support and benefits such as having their products listed featured.
- When distributing your product through big retailers, they will need a 40-50% margin and a massive amount of inventory so they can have the product in stock at every store instead of just the stores in which it’s selling well that are then going to sell out.
- Based on the pandemic in the past few years, consumers are more willing to take a risk on purchasing a product online because they know they will be able to return it without leaving their homes if it does not meet expectations.
- The moment that you submit your seller account application will be saved and will be the day of the week and time of day that Amazon will send your settlement. Make sure to submit your application after the busiest sales days of the week, Monday and Sunday.
- For a company that is a part of launchpad, you will have a team at Amazon who is there to help you. They will help you with crafting and optimizing your listings, especially with your images and videos.
Quote of the Show:
- “Having your product everywhere doesn't mean everything. Having your product in the right place and in front of the right people, that's what matters” - David Clark
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