All posts in “Plus”

Check out the new SellerEngine videos!

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Do you use SellerEngine’s Amazon repricing software? Do you want to get a closer look at SellerEngine’s software before signing up for a free Sellery or SellerEngine Plus trial?

SellerEngine Videos

Try watching some of our new videos! Head over to SellerEngine videos to watch our first set of videos on the features in Sellery.

You’ll be able to learn about the Pricing Overview, Smart Lists and much more. You’ll even be able to take a quick tour of Sellery that will help you get started repricing faster than ever before.

And don’t be shy! Tell us what videos you’d like to see next and we’ll get started on them right away!

Top 5 Myths about Amazon Repricing Software

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Truth Behind Amazon Repricing Myths

Myth #1: Repricers only lower prices.

Fact: Sometimes I feel like “repricing” is a 4-letter word for many Amazon sellers.

At it’s core, repricing isn’t anything sinister or scary. It’s just the simple act of adjusting your price on an Amazon offer. Of course, when most sellers talk about “repricing” or “repricers” they mean automated tools, like Sellery or SellerEngine Plus.

The best repricing software programs don’t just lower prices. There are many situations where repricing software makes it easy to raise your prices:

Raising Prices with Repricers

Click to enlarge

Imagine if you made an extra 15% profit on every sale.

And what would your bottom line look like if you were able to make 10 more sales per day?

You can do this by lowering prices a few pennies and then raising prices again, as the competitive landscape evolves.

That’s just a taste of what’s possible by using automated repricing software!

Repricing software helps you to maximize the value of each sale and it helps you make sales that you didn’t even know you were missing.

Myth #2: I don’t have enough SKUs to bother with repricing software.

Fact: If you’re spending time, every day or even every week, tinkering with your items’ prices, that is time that can be better spent scouting for inventory or doing something else to grow your business.

And on top of the time you’ll save, with the right repricing rules, you’ll be making more money by using repricing software. With the right software, you’ll be able to reprice around the clock, even when you’re sleeping or on vacation.

And over time, as you grow your Amazon business, you’ll be glad that you set up your automatic repricing software sooner, rather than later!

Myth #3: Repricers can make sellers lose money.

Fact: The truth is that repricing software that isn’t configured properly can result in errors that cause you to lose money.

But in our experience, sellers who manually reprice their items can cause lost profits as well. How many times have you heard about a seller accidentally selling an item for $1.00 instead of $100? It’s just a little typo, but the costs to your business can be huge.

Sellery uses your cost, estimated shipping, Amazon fees and more to calculate a minimum price unique to each item. It acts as a lower limit that Sellery won’t price lower than, unless you specifically tell it to.

Sellery Warning You May Lose Money

And just as important as lower limits are repricing limits. Without them, you might end up with something like this, which was caused by repricing software without an upper limit:

outstanding prices on amazon

And while that might seem funny, remember that if a buyer came long looking to buy that book, the seller missed out on a sale. Using an automatic repricer that had an upper limit of 20 times the item’s original cost (or any other value) might’ve made the seller $100- $200 or even more.

Remember, a price that’s too high can be nearly as dangerous as one that’s too low.

Myth #4: I like to be in control and repricers do too much automatically.

Fact: Even automated repricing software programs like SellerEngine Plus and Sellery require you to take time to set them up. You’ll input your item costs, set upper and lower limits for your prices and create repricing rules specific to your business. These are the keys to successfully using repricing software.

In the time that it takes you to manually reprice all of your SKUs, you can talk to a member of the SellerEngine Help Team.

Tell them about your business, let them know your unique needs and learn how to set up pricing rules, strategies and schemas to reprice listings exactly the way you want them.

Myth #5: Repricers are why penny books exist.

Fact: Penny books are caused by a number of factors. The biggest is competition. If there are 100 sellers out there all trying to sell the same Stephen King book, you better believe that some of them are going to cut their prices to make sales.

Stephen King Penny Book

Some sellers of penny books will have warehouses big enough to let them make a few cents on a book (by cutting costs on shipping and packaging) as long as they can do it a few hundred (or a few thousand) times a day.

Then there are sellers who use penny books as a way to build up positive feedback, accepting a small loss as the cost of getting good feedback, which can be valuable over the long run as they sell items with higher returns and risks.

Penny books may also be sold by sellers who use their sales to market their own websites or other products to their buyers.

And then, don’t discount the sellers who just don’t know or care that they’re losing money, for whatever reason.

As one of the most knowledgable Amazon sellers I know says, “Not everyone is selling on Amazon for the same reason that you are.” You can’t know their motives or business just by seeing a paperback being sold for $.01.

Conclusion: The Truth about Amazon Repricing Software

Just like every tool that you use to run your Amazon business, from a pair of scissors to your laser printer, an automated repricer should make your life easier and should add value.

Remember that all automatic repricing software isn’t created equal. Repricing software is an investment of time and money and like any investment in your business, do your research. Find software that you’re comfortable with and commit the time needed to learn how to get the most out of it.

If you’re interested in learning more about SellerEngine Plus or Sellery, email support@sellerengine.com to learn how you can take our automated repricing software for a spin.

Looking for SellerEngine and Profit Bandit Success Stories

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My favorite thing about working at SellerEngine is hearing from sellers who use Profit Bandit, SellerEngine Plus and Sellery to help their businesses grow.

Two of my favorite blog posts are our Seller Success Stories. One was when we got to talk with Tedric to find out how he had used SellerEngine over the years. And another was when I spoke with Ken, a member of the SellerEngine community for nearly 10 years!

Now that we’re starting a new year, I’d like to share more success stories from users who make use of Profit Bandit, SellerEngine Plus and Sellery.

If you’d like to share your story, leave a comment here, find us on Facebook or on Twitter, @SellerEngine. Once we publish your story here on the blog, I’ll send you a special SellerEngine Prize Pack!

The Top Postsof 2012 – A SellerEngine and Profit Bandit Partnership

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top 5 popular posts

#1 – Announcing a SellerEngine and Profit Bandit Partnership

In early July, we made our biggest announcement of the year: a partnership with Profit Bandit, the app that helps you to make money with your Android smartphone, iPhone or iPad.

In the nearly six months since we’ve been working with Victor, the developer of Profit Bandit, we’ve added a lot to Profit Bandit. Some of the improvements and additions we’ve made include:

Profit Bandit partnership

  • A successful transition to the new Amazon API.
  • The latest version of SellerEngine Plus includes the option to import your Buy List (or Shipment) directly from the CSV file created by Profit Bandit.
  • Added SellerEngine’s MegaSeller technology to help sellers identify Amazon’s offer in Profit Bandit.
  • Showed off ProfitBandit at SCOE 2012 in Seattle this past September.
  • Provided increased Profit Bandit support with our international SellerEngine Help Team.
  • Showed off some of our great finds here on this blog through the Thrifty Thursday series.

We’re looking forward to bringing even greater changes to Profit Bandit in 2013.

Anything you’d like to see in Profit Bandit? Leave a comment here or email us!

Don’t forget to like SellerEngine on Facebook!

Announcing the SellerEngine Spark

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For 10 years, we’ve helped, coached and supported thousands of Amazon sellers. As a thank you to the community that has helped us grow over the past decade, we want to give something back.

Today, we’re thrilled to announce the first annual SellerEngine Spark award. The recipient of the Spark will be someone who wants to launch or grow their Amazon business.

We’ll start accepting nominations for the Spark at the Sellers’ Conference for Online Entrepreneurs (SCOE). After SCOE, nominations can be submitted through our website.

You can nominate anyone, including yourself. All you have to do is tell us about why you think your nominee would benefit from the SellerEngine Spark. We’ll have more details about the nomination process soon.

We’ll choose several finalists who will be invited to share why they believe they’re the right choice for the SellerEngine Spark. Then with the help of the entire SellerEngine Community, we’ll select a winner.

We’re still working out all the details but the SellerEngine Spark will include:

  • Profit Bandit, for your iPhone or Android.
  • A Bluetooth scanner to use with Profit Bandit.
  • A subscription to SellerEngine Plus or Sellery.
  • Coaching and training sessions with the SellerEngine Services team.
  • A branding and design package to boost your business’s image.
  • A marketing package to identify the right keywords and search terms for your listings and write engaging product descriptions.
  • Shipping supplies and advice for how to optimize your workflows.
  • Consultations with our financial experts to answer your questions about taxes, banking issues and anything else.
  • $100 cash for inventory. Ioan Mitrea, SellerEngine’s founder, is a huge believer in the $100 Start Up and he’ll show you just how far you can go with $100.
  • Access to a private forum where you can ask questions and get advice from SellerEngine’s expert staff.

We want this to be the award that Amazon sellers want to win and we need your help! Just leave a comment and let us know what you’d like to be part of the Spark.

+Paul Cole