When and How to Change Prices on Amazon for Better Sales

Amazon's algorithm is tough, and if you're not handling pricing right, you're missing out on sales. In this video, Steven Pope and James Broda, a Brand Manager at My Amazon Guy, show how smart price changes can drive up your sales without cutting into your profits.

Lowering prices isn't about being desperate, it's about winning. A 48-hour price drop can really push your BSR, and knowing when to raise prices is just as important. Steven and James walk you through the exact strategy they used to sell 500 units in 10 days, it squeezed the margins, but the long-term gains were worth it.

If price drops aren’t helping your sales, your product might be in trouble. But don't worry, they’ve got the plan to turn it around.

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Timestamps:
00:00 - Introduction and Mission of My Amazon Guy
00:44 - Importance of Adapting to Amazon’s Algorithm
01:26 - How Dynamic Pricing Can Boost Sales
03:08 - Real-World Example: Selling 500 Units in 10 Days
04:44 - Price Reductions as a Strategic Tool
05:55 - Challenges with FBM and Inventory Management
07:17 - Trends in Off-Amazon Traffic: TikTok and More
09:19 - Leveraging Email Lists for Amazon Sales
10:52 - The Pitfalls of Following Trends Without Competitive Research
12:31 - Importance of Confidence and Learning from Failure
15:26 - Steven Pope’s Journey: From Failure to Success
19:02 - Leadership Challenges and Growth at My Amazon Guy
23:02 - The Power of Love and Reason in Leadership
25:14 - Closing Thoughts on Sales Strategy and Leadership