Assigning The Right Price to Your Products - Chad Rubin - Amazon Legends - Episode #217

The guest on today"s episode is Chad Rubin. He leads Profasee’s operations and oversees its strategy. He often speaks about e-commerce, amazon and leveraging AI strategies on webinars and conferences worldwide.  He’s also the author of the Amazon bestseller, Cheaper, Easier Direct. Prior to Profasee, he founded Think Crucial and co-founded Skubana, and the Prosper Show. In today’s episode, he discusses assigning the right price to your products.  Takeaways:Having a dynamic pricing structure can maximize your profit and increase sales. You can use AI technology to make your price dynamic and find a suitable model to maximize profit. Most times topline growth comes from reducing the price and bottom-line growth comes from reducing the expense. There are a lot of services associated with Amazon to help hellers handle returns, suspensions, issues with fees, etc. The third-party app that helps to prevent returns from happening is called the “On-Site Program”. When entering Amazon it is really important that you have a mentor. Quote of the Show: It is pretty simple; you increase your price as everyone says. Sometimes that might be the right decision. On the other hand, lowering the price might be more beneficial. When you lower your price, you might increase your demand, which pushes up your unit velocity. The knock-on effect not only produces more profit dollars but also increases your ranking.  Links:Website – Profasee : https://profasee.com/Twitter – Profasee : https://twitter.com/theeprofaseeLinkedIn – Profasee : https://www.linkedin.com/company/81280009LinkedIn – Personal : https://www.linkedin.com/in/itschadrubin/Twitter – Personal : https://twitter.com/itschadrubin Ways to tune in:Apple PodcastiHeart RadioSpotifyGoogle PodcastStitcherYouTube To learn more about Amazon PPC Campaigns, check out Mina Elias episode: Website : https://argometrix.com/Everything-You-Wanted-to-Know-About-Amazon-PPC-Campaigns Youtube : https://youtu.be/YJyFgUsobnI Buzzprout : https://www.buzzsprout.com/1835870/12305265 Amazon Legends is sponsored by Argometrix, the authority on, and a leading supplier of, competitive intelligence for online retail. To learn more, head over to https://argometrix.com/