A short look at why there is a blackout on the subject of how to price your Amazon inventory.
The “Conspiracy of Silence” around pricing strategy
Pay attention, and you’ll notice there is a blackout on the subject of pricing strategy. Seriously, it’s like a conspiracy of silence. From YouTube to blogs to Facebook groups to Reddit: No one talks about pricing.
Remember when I said that all Amazon businesses come down to two things: Sourcing & (Re)pricing? And that you can do everything else wrong, and if you get these too things right, it’s impossible to lose money on Amazon?
Then why does everyone talk about sourcing, and almost no one is talking about pricing? Why is there a blackout on this subject in the Amazon selling world?
There’s three reasons this book you’re holding is (almost) the only palace in the world you can learn about this (crucial) subject. This “conspiracy of silence” among Amazon “gurus” and teachers comes down to three things:
Reason #1: Pricing isn’t a “fun” subject
Let’s say you’re an Amazon “guru” on YouTube. You’re under a lot of pressure to maintain certain metrics or YouTube will move your videos down the search results. You have to deliver content that is instantly satisfying to the view to keep them engaged.
it is suicide for your favorite Amazon guru to talk about pricing. I know this personally: The articles and videos I’ve done on this get the least views of any subject category.
You’re simply not going to put effort into content that no one will consume. (Apparently I like screaming in the dark, but I’m weird.).
Likewise, let’s say you’re a seller in an Amazon selling Facebook group. Your favorite Amazon gurus aren’t talking about pricing, so probably never think of it as important. But even if you did, you post a question and are likely to be met with crickets. No one knows anything. No one wants to talk about it.
Everyone in the Amazon selling world is disincentivized to talk about pricing strategy.
Reason #2: Pricing strategy is hard to teach
Everything on the internet has to be bundled into one tidy unit of easily-consumed information. A short video is rewarded by YouTube (YouTube measures viewer retention, and if they see people dropping off, they punish you with fewer viewers). You simply can’t make a concise video (or anything) on pricing strategy. The subject is too messy.
What’s more, there’s no “right” way to price. There’s a lot to consider, and it’s hard to give your reader (or watcher) definitive, specific guidance. People generally aren’t seeking out high-level principles. They want ground-level tactics. And that’s challenging to deliver with pricing strategy.
There is no “right” pricing strategy. Everyone wants to be told exactly what to do, so they don’t have to think. But pricing doesn’t work that way. There’s never a “right” way – just some strategies that are more “right” than others.
Reason #3: Good pricing doesn’t deliver instant gratification
95% of people want instant results. The quick dopamine hit of a sale. And intelligent pricing strategy does not deliver that.
If you’re an Amazon guru trying to sell delayed gratification, you will be punished with a small audience. Most people will reject your message, no matter how right you are.
Breaking the silence
If you’re reading this, you’re in that top 5%, willing to explore this overlooked subject – a subject most of the Amazon world refuses to talk about.
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