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It’s been a month since Ariana launched her passion product, Vino Cards, on Amazon and we will share with you the real results. While it did well, it wasn’t as much as we expected it to be. In this video, we will go over three things that we’ve done to launch Vino Cards and the mistakes we realized we’ve made along the way.
How to Launch a Product?
Ariana wanted to create passive income for herself. Apart from her full-time job, she wanted to pursue something a little more fun. A lot of people teach Private Labeling on Amazon and what I do is something similar to that. I call it creating a Passion Product. Private Labeling is taking an already existing product and slapping your own label on it. Passion Product, on the other hand, is creating something unique, different, and does not exist. It is something that you’re excited about. It’s something that is new and is missing from someone’s life and you want to create that.
One of the benefits of doing a Passion Product is you can do a Kickstarter. It’s a great platform where you can share your idea, even a prototype of it, to raise money for the actual product. In Ariana’s case, she set a goal of $5,000, which she hit, and used the money for the first production run of Vino Cards.
Another part of this is creating a product launch group. The product launch group will support you on Kickstarter. They will also be the first ones in line to buy your product and they will leave reviews on Amazon.
Actual Numbers
In the first month, Ariana sold 147 units. This is pretty good, but we expected it to be more. It translates to $3,338 in revenue, minus the Amazon selling fees of $1,431.10 and the cost of the product which is $956. In total, there was about $950.90 in profit for the month.
Top 3 Mistakes
Below are the top 3 mistakes we’ve made when launching Vino Cards:
Launch Strategy
Before you launch on Amazon, make sure you create a launch group. It gets people excited. They are at the beginning stages of your product so they’re helping create it overall. The whole point of the launch group is to get people’s opinions. You could ask them about what they think of the logo, the product features, etc. When you finally launch on Amazon, you will then have a lot of sales and reviews right away which Amazon will see and it will snowball into more sales. On top of that, people in the launch group will share with their friends and you will be getting more people to be interested.
We Took Too Long
The second mistake is we took way too long from the time we launch on Kickstarter to the time we launch it on Amazon. Ariana waited until after Kickstarter to actually begin the process of researching for the product, getting in contact with the manufacturer, getting a designer, etc. It boils down to fear and wanting the product to be perfect.
Because we waited so long to get the product up and running, we ended up having to pay for air shipping to try to get the product in time before the Christmas rush. We also had to the airship to the Kickstarter people as they haven’t received the product yet. Air shipping also increases the chances of the boxes being damaged. If you are going to airship it and your product is something that could potentially get damaged, make sure you have them double boxed it.
If you are planning to launch a product, get on it quickly and don’t wait.
Ordered Too Much of the Product
In the first month, we ordered about 2000 units of the product and we supposedly did not need that much right away. This is also the reason why we have to spend more. Having fewer orders will also be an advantage especially if there are some things that need to be changed. For the Vino Cards, Ariana has to go through 2000 units of the product first before she could implement those changes.
When you order a product, be more cautious. You don’t need to order a ton of product right away. Dip your toe in the water first.