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Selling on Amazon is a Breeze Using this Software

Published on: December 1 2022 by Bryan Guerra

Selling on Amazon is a Breeze Using this Software

Selling on Amazon is a Breeze Using this Software

in today's video we're going to cover a
little bit more about drop shipping on
amazon okay now in past videos and you
can check it on the amazon drop shipping
playlist on this channel there's a bunch
of tutorials out there for you you know
that you can run through to kind of get
each piece of the actual puzzle okay so
we've covered like product research and
how to actually find products that you
can drop ship and source from other
websites and sell for more on amazon to
make money right because i think there's
like three tutorials on this channel
about that okay i've covered other
things like the listing process fba
calculators in the last tutorial um you
know i think it was like two or three
days ago i put it out maybe three or
four um the last video i covered
specifically a software that i use that
inputs tracking numbers automatikally
when you get the emails from your
supplier so you don't have to spend a
lot of time every single day or hire a
va or something to input those tracking
numbers for you right
but what happens as you scale and you
start to add more and more products to
your amazon store how do you track the
inventory and how do you track the price
changes on your suppliers websites okay
especially if you're using multiple
suppliers or a lot of different ones
right so there are software's out there
obviously that you know if you only use
walmart for example or if you only use
home depot or one specific supplier
they'll do everything for you right but
i don't recommend building your
metaphorical not metaphorical building
your business on a metaphorical house of
cards like that because ultimately if
something goes wrong with walmart for
example you you've hitched your entire
wagon to that supplier right
so i recommend diversifying like i tok
about on this channel in the tutorials
and finding multiple suppliers as long
as well as if not all
wholesale suppliers okay so like i said
there's so many other tutorials on this
channel but in today's video i want to
tok a little bit more about pricing um
you know how to monitor the prices on
your suppliers website so that you're
not losing money how to set minimum
prices obviously and and a little bit on
automatikally pricing on amazon if you
guys want to see another video tutorial
on like how i recommend that you set up
your repricer and how i go about that
drop a comment down below let me know
that you're interested and maybe next
tutorial will actually drop that video
for you as well okay and how do you
monitor the stok on the website so that
if it goes out of stok on whatever your
suppliers website is you don't keep it
in stok on amazon so that you're
selling a product that you can't then
source right so long story short in
today's video we're going to cover how
to actually manage your prices and your
stok from your suppliers websites using
this software called skugrit so let's
jump into my computer and i'll show you
how it works so what i've covered before
is this little spreadsheet right you
want the supplier right where you source
your item right you want the item name
on amazon you want the asin you want the
link to the product and you want to find
your minimum price okay and then
obviously any notes you want to make
after that's totally fine this is how i
recommend you set up a spreadsheet so
that you know where to source your items
when somebody orders from you on amazon
okay so let's go fill through this
really fast and then i'll show you how
to actually reprice it okay
so if we come here
we are going to go first and foremost to
find the link to the product on our
website that we just found right so make
sure that you're not doing the the cart
one you want to find the actual link to
the product uh on bed bath and beyond or
whatever website it is okay gonna put
paste that into the link to the product
right there okay now let's go to amazon
because i don't need this anymore
we're going to amazon we're going to get
the name of the item
so we can identify it in two ways we can
either identify it by the name of the
item on amazon or the asin which is the
product identifier on amazon get the ace
and you scroll down so you see like all
these details here find the one that
says asin and copy that
paste that in right there
and that way you're just going to have
all this data so that when you actually
need to come back and source this item
you can find it on your spreadsheet by
literally searching again so control f
is search on pc i don't know what the
actual search uh on mac is but it's
something very similar so let's say
somebody orders an asin on amazon well
you take that asin from your amazon
order and you paste it into your
spreadsheet bam it's going to fi find it
even if you have like thousands of
products here it's just going to pop
into the to this one really fast and
then oh you know this is the link where
i source that right it's very very easy
to actually keep track of okay now your
supplier is going to be bed bath and
beyond let's go bed bath
because i cannot type bed bath and
beyond doesn't really matter you just
want to know where your suppliers are i
like to keep track of that um obviously
so if you need that in the future also
like to keep track of it to start slowly
seeing like where i'm sourcing from more
and which you know stores i tend this
are tend to be better suppliers for me
so now we have all that information
right there
now we need one more thing we need the
minimum price okay and why is this
important well it's important for our
repricer specifically when we go set
that repricer up okay we're going to
show you that in the next lecture
lecture so i've already covered this
previously but when you're in the fba
calculator originally right and you put
your item price in which we deemed to be
55 bucks roughly on amazon that's what
it's selling for and we deemed our item
price on bed bath and beyond to be 39
which shows us when we put in the fba
calculator that we do indeed have a net
profit margin of 7.74 cents and our
margin right here is 14 roughly okay but
what happens if this price tanks on
amazon and the buy box price goes down
we need to know what our minimum price
is so we can then put that minimum price
into our repricing software so that it's
not actually going to ever go below that
price so we never lose money on a
product okay so you might think like
okay like i'm well i'm not willing to
take any lower than seven dollars well
then your minimum price stays 54.99
right i always go low because i'm
interested in the sales to improve my
metrics because i think that makes a
long-term difference the more you start
selling on amazon typically speaking the
more you'll get sales in a lot of ways
they reward sellers who sell well so
even if you're taking like a dollar
profit not only spending 39 bucks which
isn't a lot to me
it might be to you and me you might not
have a lot of credit or a lot of cash
flow and that's totally fine then
obviously you're going to approach this
differently i'm going to find my minimum
price by taking this down a little bit
so let's say like somebody drops the buy
box price to 45
am i still profitable okay i'm pretty
much break even right there so that's
fine that's probably what i'd set my
minimum price to be and i make that sale
if it ended up being a net margin there
i make the sale and then i remove it
from my inventory you can go a little
higher you can say like i'm willing to
take like 49 potentially and then okay
you're still making a 3.50 profit margin
here which is a 7 margin it might even
be like a 12 margin after your cashback
maybe even a 15 margin after your cash
back and your cash back credit card uh
so there's a number of ways to obviously
play it off the back end but so that's
why i'm willing to take lower margins
here right so you need to play around
with this item number up here to find
out what you're willing to take margin
wise and then you need to find out what
that number is okay so we're going to
say 49.99 here for this example actually
i'm going to go back just for
just for uh sake of showing you so 45.99
and then 9 cents is break even okay so
i'm going to say 45.99 is my breakeven
price and i'm going to put that minimum
price into my spreadsheet okay and then
as you start finding more products
you're just going to fill down the
spreadsheet right you're going to have
products so that you know when someone
comes and buys this asin or this item on
amazon you come and you source it from
this actual link right here and then
should take you to your link and you go
bam i'm going to buy this so now that
we've found that we need to use sku grid
to actually go ahead and track our
inventory and our prices and like i said
previously what skew grid is going to do
is once you sign up for it it's actually
going to
allow you to track it it's going to go
in depending on the settings that you
set up and i'm going to tell you to do
it every single hour and literally go
back and ping that same web page and see
if it's still in stok and if the price
has changed and if the price has changed
it's going to email you and notify you
so you can make those changes okay so
you're going to originally go into your
settings right here
and that's going to open this up right
here and this is how i typically set it
up right so every hour you can make it
more if you want but every hour is
obviously good you want it tracking your
prices and your your inventory as often
as possible so that you don't get stuck
like but you know with somebody buying a
product that's out of stok on another
website right you want it as frequent as
possible
and i also recommend um you know not
charging for this reason because i'm
recommending it as frequently as
possible i also recommend that you don't
pay by how often it's doing it i
recommend that you pay by um what's the
by like the amount of products that it's
tracking right not the frequency when
actually goes to make you pay when you
subscribe it's going to tell you okay do
you want to pay by the product and you
want to pay by the product that's
definitely what you want to choose right
or do you want to pay by how many times
it's actually checking for you and
that's not what you want to choose right
some people make the case because they
don't check it as frequently that it's
cheaper and in that case it is but you
always want to check it as frequently as
possible because you never want to get
stuck with a product that's out of stok
because you never really want to cancel
an order on amazon unless you absolutely
have to okay that's going to dig your
metrics and they take it very seriously
so every hour is what i recommend and
also when you go to select and sign up
for this pay by the specific product not
by how many times it checks for you okay
uh so look it's saying like one check
equals one credit typically because i
just opened a demo account to kind of
show you also how many items do you want
to display per page doesn't really
matter i just put it at 250.
if you have more products you can go
down if you want to do that it tends to
be a little bit slower than more
products that you have so i would
recommend like 250 or 500 would be a
good kind of you know estimate there um
and then i say yes here i say no here i
say maximum days uh before it dispatches
from my supplier a seven that just means
like the handling time um you can make
this lower if you want
um display stok as a color i keep that
normal and everything else pretty much
is normal here and then you want to save
your settings the main thing that you're
doing here is you're setting this up to
ping every single hour so it's going to
let you know okay and then it's going to
email you right here when you go to
notifications and then you're going to
put your email in here notifications and
then go down again send notifications
every hour because it's checking every
single hour what to include in your
emails make sure that sure that yours is
set up like this right and then you're
gonna save the settings and then it's
gonna email you to the email that you
put in here
every single hour if something has
changed if it hasn't changed you won't
get any emails okay so that basically
lets you get notifications via email
every single time something goes out of
stok which is very very important and
every single time a price change which
is also obviously very very important so
now we want to go back and add that item
into our inventory okay so we're going
to go add single item here for reference
id i usually recommend putting the acen
in uh and where you sourced it because
it's already gonna have uh your specific
title in there okay it's already gonna
know that so i'm gonna say like this is
uh what was this this was bed bath and
beyond so i know where i sourced it and
then the ace in right there
um
let's go grab the asin
and the acin okay and then obviously
you're going to need the supplier link
you already got that right here so we're
going to right click this and copy the
supplier link and we're going to paste
it in here
and it's going to look it identifies bed
bath and beyond product identified and
then you're going to hit save those are
the only two things that you really need
to do a reference id so you can
obviously identify the product which
isn't really relevant i just kind of
like to set it up this way and i'll link
to the supplier where the actual product
is and that url specifically where you
source that product so if it's a
variation make sure you click on that
specific variation if it's a size make
sure you click on that specific size so
the url changes grab that specific url
put it into your spreadsheet and then
put it into this software right here and
then it will ping that specific url and
check the the price and the stok
availability and let you know if
something changes and then you're gonna
hit save and it's really that simple and
that's pretty much how you set up sku
grid it's very very easy to set up i
took you through the settings i took you
through how to set up the notifications
um and i also took you through how to
actually add a product sign up for the
free trial of sku grid grab it so you
can start tracking your inventory that
is crucial okay you need to be tracking
your inventory because if something goes
out of stok you can't play around with
that on amazon if something goes out of
stok and you can't source it you're
gonna have to cancel orders and in too
many canceled orders it's gonna get your
accounts shut down and suspended and
they're gonna keep all your money it
won't if you track it with sku grid
that won't happen to you okay but if you
don't and you try to go without this and
manually track or just you know say like
screw it i'm not going to track it all
that's when you're going to run into
problems so do not skip this step