Proven Performance Inventory

Transcription

1 Proven Performance Inventory Module 30: Bonus: Golden Nuggets Giveaway 00:05 Speaker 1: Hey. What is up amazing PPI community? Hey, real quick. I just wanted to make this video. I see a lot of posts, a lot of questions that really revolve around sourcing, even though it may not seem like it. Everything comes down to you make your money when you buy. Now, I know the PPI course really was created so that you don't have to guess on your next product to buy. So I think it'd be great to give away a couple golden nuggets of where you can easily go find product, apply the PPI method, and see results. So I call this the Golden Nugget Giveaway, and this is two places with low hanging fruit. So this is two places you guys should be able to consistently go to. Now, I'm not giving this away as in now this area is gonna be saturated. It's really not because these are two places that are way out in the open. What it'll do is, it'll give you a little bit more direction and a road map to build the confidence in the PPI method. So again, this is the golden nugget giveaway, two places with low hanging fruit. And I highly encourage you guys to jump on this because you could really gain traction very quickly. And so what we're gonna do, I'm gonna do kind of a quick overview, and then we're actually gonna go through a live example. 01:30 S1: Alright. So the real question is, why do we do PPI? And this is very, very important. And it may seem like repeating ourselves. But I do think it's very important to talk through why we do the PPI method. And the number one reason is we wanna collect strong customer search data. That's the number one reason why we do PPI. Now, you might be saying, "But Brett, I also wanna sell product." Right? I get it, I hear you, I totally understand. But remember, the number one reason why we do PPI is to first collect the data. Now, number two. The number two reason we do PPI is to sell products using high converting search terms. Don't confuse the two steps. This is literally step one and step two. Goal one and goal two. Now sometimes, you might get both in one swing. That's awesome. But it is, you are setting yourselves up for a tall climb if you're trying to do both of these at the same exact time. So, number one, collect strong customer search data. Number two, sell products using high converting search terms. And I'm gonna walk you through these two low hanging fruit ones and show you the difference. 03:00 S1: I apologize, guys. I think my gardeners just showed up while I'm recording this. So if there's some buzzing in the background, my apologies. 03:07 S1: Alright. So let's focus again on these two goals. And I'm gonna clarify when I'm sourcing, what I am looking at, whether I'm gonna be collecting strong customer search data, or whether I'm gonna be selling products using high converting search terms. And you guys will get it. It'll click down the road here, and hopefully bring a lot of clarity to how you're approaching the PPI method. Okay. So here's two places to source. These are not gonna be revolutionary, "I've never heard of this before." But you'll see in my application really how it can be extremely lucrative. So two places to 04/08/16 Page 1 of 7

2 source. You have TJ Maxx, Home Goods, and Marshalls. These are heavy discount stores with high quality products. I absolutely love this. We built a huge foundation of our business off of this. Not so much anymore because we have very much drifted into manufacturing our own products, but it's a great place to start to apply the PPI method. Number two, Starbucks. Two places that you guys most likely know very well. The cool thing is you could order online in your pajamas from both these places and still apply the PPI method. 04:14 S1: So, for everybody out there, you now have two starting points. You have zero excuses to not apply the PPI method now. If you search TJ Maxx, there are so many products at TJ Maxx and Home Goods and Marshalls. It would be very difficult for people to begin to overlap on their products. They are constantly changing them out, very limited quantities. And Starbucks, you'll see how when I apply it, I would be very surprised if you guys began to overlap. Alright, so no excuses now. You have your two places to source. 04:47 S1: Alright. The first thing I'm gonna do, is we're gonna use discounted gift cards to pound down our price that we're gonna buy it at. Really this is for two reasons. Number one, to keep your costs low. And number two, hopefully that you can make some money in the process of applying the PPI method. So we're gonna use Gift Card Granny to find some good discounts and then, you can always buy e-codes or physical cards. You do wanna make sure when you're buying that if you wanna shop online, that the cards you're buying are applicable for online sales. 05:19 S1: Alright. So, let's go ahead and hop over to a live example. So quick review, actually real quick just so I don't go too fast. We're doing a Golden Nugget Giveaway. Why do we do PPI? First, it's to collect strong customer search data. Second, it's to sell products using high converting search terms. In that order. Two places to source. You got TJ Maxx, Home Goods, and Marshalls. Which is really just one big one but I guess it's more like four places to source. But they carry a lot of the same stuff. Number two, Starbucks. So you have two starting points. Both are available online. Discounted gift cards. We are gonna use and you can buy e-codes or physical cards. 06:00 S1: My one disclaimer is make sure if you wanna shop online, make sure that your gift card or codes, which codes are 99% of the time applicable, can be used online. Alright, let's kick over to the live example. Alright, so let's go to giftcardgranny.com. I'm gonna zoom in a little bit here for you guys, so that you can see my screen a little bit better as we're going. Alright, so here you can see Gift Card Granny. And really, this is just one gigantic database, but check it out right here this time a season. This is why you guys got to jump on it. TJ Maxx gift cards up to 22% off. [chuckle] That's crazy, right? Who's with me on that? Crazy, crazy percent off. 06:46 S1: Alright, so let's go ahead and check out the TJ Maxx gift cards. Alright, so now let's see, it pulled it up. Let's see all the cards. Alrighty. So now, it's giving us... Again remember, Gift Card Granny is just a database, so you're not actually gonna be buying it from them. You're gonna be buying it from these companies. Alright. So this is telling you, "Hey, here's all the companies selling it at 22% off." Amazing deal. I used to have to buy in so much bulk to get 22% off. 07:30 S1: So all you do, it's an e-code. So if you wanna shop online, that is perfect. Go over here, click Shop. And it's wanting me to sign in, but I think I'm going to just search over here. Alright, so let's type in TJ Maxx. Let's check them out. Alright, so here you have all their TJ Maxx Cards again. What Gift Card Granny did was it pointed you towards the biggest discounts. These are the actual 04/08/16 Page 2 of 7

3 companies you would buy from. And then, if you actually wanted to save even more money, you can call these companies and ask them to buy in bulk. But I wouldn't do that unless your budget permit. Because 22% off is a ton of money off already. 08:26 S1: Okay, alright. So let me zoom out real fast guys, so that I can see where I am. Alright, so let's go back to... Or let's actually kick over now to TJ Maxx itself. Alright. So I'm on tjmaxx.com. Again, you could apply the PPI method. And what I'm showing you right now literally, I am truly, truly in my pajamas. People were laughing at me because I was gonna go do a video and they thought I was actually gonna put my face on the screen right now. 09:05 S1: But anyways... Alright, so I am on tjmaxx.com. And in theory, I just bought my Well actually, you don't have to... The funny thing is you don't have to buy it in advance. I know that I can buy at 22% off. Again, I'm gonna say that, 22% off gift card, guys. That's like double the margin that typical retail stores work off. And then you're gonna buy a discounted gift card for 22%. There's just so much opportunity out there. 09:30 S1: But anyways, you know you have your 22% off gift card. And now, we're gonna scroll down. All I did, I went to tjmaxx.com. And then over here, I went in to the gift section, and then I said, View All Gifts. Now, what's beautiful about TJ Maxx is they're already... The way that they buy, because I actually have bought liquidations against them, the way they buy is they know that they have to sell everything at a discount already against the retail price. And they typically now use Amazon as their base retail price. 10:06 S1: So what that means is they know they have to beat Amazon's price in order to be relevant and keep their customers coming. So they very much wanna be a lower price than Amazon. Now on top of that, you're gonna have a 22% off discount on it. It's all gonna tie back to the PPI method in a second. But I just wanna walk you through where we're at right now. So tjmaxx.com, this is why we use TJ Maxx, we went to Gifts, we went to View All. 10:29 S1: Now, what are we looking for when we're doing this? We are looking for... When I'm on TJ Maxx, I am actually looking for... Okay, I am looking for collecting strong customer search data. I am not necessarily looking for selling products using high converting search terms because I like to use TJ Maxx to find possible golden nuggets. Does that make sense? So I'm using TJ Maxx to collect this search data. I'll show you an example of one where I skipped right to number two to sell products using high converting search terms. 11:07 S1: Now, very likely to do both of these if you apply this method correctly. But I just wanna clarify, I really wanna know, because I can buy it for so cheap. I wanna know, I wanna collect some strong customer search data. So here's the cool thing. I actually think TJ Maxx's website is absolutely horrible. It is very confusing and not clear at all what each product is. But if you have the PPI method, it actually does you a huge favor. 11:35 S1: So you can see here, they do a terrible job of describing what the product is. So I'm gonna be zooming it again for you guys, so that it's fully focused. Alright, so they do a terrible job of really explaining what each product is. But check it out. What they do very well is they actually give you a potential search term right off the bat, like for example, this Colby one, car dash HD camera, right? If you were doing Retail Arbitrage, this would be a little bit confusing but because you're doing the PPI method or you're just looking for search terms, they're like, "Boom. Hey, here's the 04/08/16 Page 3 of 7

4 search term we think is best for that." So I like it from a PPI method. 12:19 S1: Really again, I'm just looking for interesting products that really I would've never thought of on my own. I kid you not, this took me like two minutes. I don't mean it because I'm awesome, I mean it because this is how much opportunity is out there. So I was looking at this, I'm like, "I don't really... " I look at it very long term. I look at it, "Hey, is this a product I'd want to reproduce in the future?" Car dash HD camera, I typically stay out of electronics, that's just me. Five speed blender, you probably sell some because it's KitchenAid, but again I'm focusing on goal number one, collecting search data. This is pretty pricey, I'm not gonna gamble that right now. This was one that stuck with me because I love how TJ Maxx, again, just tells me the search term. I have no idea about this brand Blacksmith, I don't know if they're good, bad, or ugly. But here's what I do know, I absolutely love this search term, hunter's flask with two glasses. 13:19 S1: That is awesome. Let's go ahead and dive into this. Again, TJ Maxx does an absolutely horrible job really explaining this item, but it does a great job of saying, "Hey look, we think this is a hunter's flask with two glasses." This item right here, my eyes just kinda pop out of my head and here's why. Remember, I didn't do anything besides go to tjmaxx.com and start looking for items that I can possibly extract data from. Now, my goal now is gonna be let's test Amazon to see how many people are searching for a hunter's flask with two glasses. So lets go ahead and do some quick searches on Amazon to see if we've kinda found some gold. So this will be our second example. Let's go and hop over here. Just like TJ Maxx said, hunter's flask. Let's check it out. Oh my gosh, this is what I call, "We just stumbled on to pure gold," because look at this. So obviously, Thermos is a high brand name, like we're not gonna target Thermos but look at this, nobody up here, nobody, when you type in hunter's flask, which is a huge market, which is crazy to me. Look at how many of them are targeting that specific key word or search term. None. Except this person, this person's trying to fit it in right here. This is a huge opportunity and that's how quickly using TJ Maxx you can do it. 14:57 S1: When I look over here, my goal would be to bring... And you could create a unique bundle. I'm just giving you guys some quick examples right now. So you could use this one and find some other product that you can put with it, maybe a camo hat or any other cool hunter product. But really I wanna know how many people are searching for a hunter's flask. That's what I wanna know. So again, going back to our goals over here, collect strong customer search data. I use TJ Maxx to collect strong customer search data. Now, you did not hear me say, "Hey, I'm gonna try really hard to sell this product," because I don't know yet, whether people are searching for a hunter's flask. Now, most likely they are, most likely. But I just wanna clarify, this is goal number one. I used TJ Maxx, hopped right over here. Now remember, 22% off, so I'm essentially gonna get this thing for $10-$11 at the end of the day, this hunter's flask. Now if you come over here, look at this, already these guys are so high priced. Now, yours is coming with two glasses on this, so you could even come up to a $29.99 price point. Guys, that's great money on top of you're gonna collect very good customer search data, yet you already know what you're gonna target. And nobody's going for it. Again, that was just a very, very simple example, it was like what? The sixth result on TJ Maxx's website, you got the discounted gift cards going and then you pretty much have this market wide open. 16:34 S1: If it works, if you get the good search data, this would be one you'd wanna look into to possibly private label in the future. That is very, very valuable. Look at this guys. This is awesome, totally awesome. Alright, so that's an example of, again, collect strong customer search data. That's 04/08/16 Page 4 of 7

5 the whole goal of that one. Now, you're gonna see the difference, this is when the light bulb is gonna go off for you guys. Now, we're gonna skip to number two and it is very important. You guys always have to understand what is your goal, what are you trying to accomplish. Are you trying to collect strong customer search data or are you trying to sell products using high converting search terms? 17:13 S1: My challenge to you on this one, when you skip to number two, because a lot of people like to go directly to this one. If you say, I'm gonna sell products using high converting search terms, my first question for you is gonna be, show me the proof that this is a high converting search term. If you can show me the data that this is a high converting search term, then I will say go to number two. If you can't show me this, you really shouldn't be jumping to number two. You should first start at number one, collect strong customer search data. This is step number two, Show me that it converts. But I will share with you an extremely high converting search term. So remember I gave you two places, TJ Maxx, Marshall's, and HomeGoods. Now we're gonna go to the second example of where you can source. 18:00 S1: Which is... Dun-da-da, Starbucks. So remember, we're gonna get our discounted gift cards first. And we're gonna go back to Gift Card Granny. We're gonna buy some gift cards. Let's go ahead and just type in Starbucks. Now, Starbucks sometimes gets very high in discounts, but sometimes it doesn't. So right here, 10%. Hey, I'll take 10% any day of the week. I would actually call them, they'll probably bump that thing right up to 15%. But here you go, 10% off right here, just shop over, grab your extra 10% off. 18:35 S1: Now, we got out our Starbucks gift cards, we got our e-codes we can use. Let's go ahead and hop over to starbucks.com. All I did was I went to Gifts and More, I went to Sale and boom, the gold. Let me show you guys something really quick. And this is the power of the PPI method. I'm literally giving you, literally giving you golden nuggets. I'm giving away some of our best search terms. Check this out. So we're in our All Departments section. And again, I apologize for the gardeners in the background, guys. We are in the All Departments section and let's start typing in Starbucks. 19:17 S1: What is the major thing that pops us first? Starbucks cups. Well, let's go and check that out, guys. Alright, Starbucks cups. Here you go. Even though, even though you're talking like one of the most well-known brands out there, look at how many people start with that exact search term, not even Starbucks itself, boom, boom, boom. Nobody here doing it. So let's go back over here and check out some of the sales; immediately, immediately my eyes are drawn. I'm gonna zoom in a little bit here for you guys. Immediately, my eyes are drawn to this. This is beautiful. A black stainless steel tumbler. One, I'm gonna buy one right after this video because it's awesome. Number two is, look at it, it's on sale, that's a substantial discount. And I'll show you why that's a big deal. 20:16 S1: Again, what they are doing is they are giving you some basis of search. You think it's a coincidence that it's called this or that they listen to this online? They are giving you some of the best search terms to use. So, let's see them out again real quick. Let me show you this example. So, you already know you can position that under Starbucks cup, okay, and remember now okay, we're skipping the number two. Sell products using high converting search terms. We're not necessarily collecting the data on how many people search for Starbucks. It's good to know. I mean, you already know it's a lot, right? 04/08/16 Page 5 of 7

6 20:49 S1: So, we're really gonna leverage the Starbucks brand name to sell these products. So, you have your stainless steel tumbler and then scrolling down here this is the other thing that I saw that was just awesome. The Sumatra portion pack. So what I'd do. I create a bundle of one Sumatra pack with a black stainless steel tumbler. And again, Amazon is already telling you what people look for. Check this out. They look for Starbucks cups and Starbucks tumblers. [laughter] 21:26 S1: Oh, my gosh! It's just almost too easy, guys. It is almost too easy. So I can tell you right now. You guys would absolutely dominate. Now, I don't think you should go for the search term, tumbler, because the search term tumbler over here everybody is trying to tackle. So this is not one where we're going for the more broad generic search term. This is the one when we are actually gonna say, "Hey look, we're gonna leverage and sell this based off the brand name that's there." So you guys, if you wanna skip right to getting things to sell, this is a nice little hack that you can do over and over and over and over again because nobody is looking here, nobody. And guys, we just did this... Yeah, this is one of our first places we started and we hit Starbucks pretty hard especially during the holiday season. Alright. 22:22 S1: So over here, you can see if we were gonna for Starbucks tumbler, this one had it pretty nailed in, Starbucks stainless tumbler. You could just go for Starbucks tumbler and call it, stainless steel mug black, but you already know really you could even just target Starbucks in your sponsored ads. You can target Starbucks tumbler, Starbucks cups, or just Starbucks in general, you can create your unique bundle over here. So $16, let's see plus 18 packs, so it's about let's say $2 per one of these packs, right? So that will put your total cost let's just use rough numbers, around 18 to 20 bucks. I would sell this bundle easily for $40. Here is why. Check this out. As you can see here, this same Starbucks steel tumbler is selling for $ :17 S1: Now, you are adding a thing of coffee to it. So, you will probably gonna net about $8 gross profit on this product just by following that method. So, I can tell you Starbucks steel tumbler and Starbucks and Starbucks cup are gonna be very, very high converting search terms. Again, focusing on our goals, do you guys understand what we did differently. From TJ Maxx, we were looking just to collect strong customer search data. Our goal wasn't necessarily to sell those right off the bat. It was to see if customers were searching for it. When we look at Starbucks, our goal was to sell these products using high converting search terms so we had to make sure the price made sense. We have to make sure that we knew exactly where we were gonna it. And our goal is to sell those products. And our high converting search terms were Starbucks, Starbucks tumbler and Starbucks cup, which obviously over here... When you start to type in Starbucks, you see that it's saying, "Hey, look. People look for Starbucks cup and Starbucks tumbler, boom, Starbucks mug." I mean, you guys can go right for these. You guys could even possibly go for a Starbucks coffee if you tie that coffee into it. Guys, those are golden nuggets. That's where you can start right away. 24:31 S1: Any of you guys getting kinda hung up on the PPI method, I really recommend going in and trying this right away. But understand your two goals. If your question is, "How do I sell this product?" My next question for you is, "Show me the proof that you have some high converting search terms." If you don't have those, you are still trying to find your high converting search terms. Now, if you want to just collect some data, I highly recommend going to TJ Maxx, getting some discounted gift cards, sitting in your PJs and ordering online. It'll be a great place to start. 04/08/16 Page 6 of 7

7 25:07 S1: Alright, guys, I hope that's enough information. I hope that's not information overload. Hey, post some... I don't need to know the products that you did, but hey, I would absolutely love to see some testimonials of people who took action on this and got some results. Alright. We'll talk soon. 04/08/16 Page 7 of 7