Empire Flippers Podcast Revisited - How to Use AI to Increase Your Amazon FBA Sales With Rael Cline [The Opportunity Ep. 76]
We're getting back into the swing of things after the holidays, so no new episode this week. But rest assured, we'll be back next week with a new episode overflowing with interesting online business insights!
Given the recent buzz around AI, we thought this was a great time to revisit one of our previous interviews with a founder who built his business using AI.
Wouldn’t it be great to get a sneak peek into the future to gain insights into who your most loyal customers will be, which products they’ll buy, and how much profit you’ll make as a result?
Metrics like customer lifetime value (LTV) and customer acquisition costs (CAC) can help you to predict these outcomes, if you can find a way to access this precious data, that is.
Amazon is notorious for safeguarding customer data, but Rael Cline has found a way to access and interpret this information on behalf of Amazon sellers. Rael is the co-founder and CEO of Nozzle, a tech platform that helps FBA sellers unlock deep insights about their brand performance.
In this episode, Rael discusses the difficulties that Amazon sellers face in trying to build a brand identity without fully understanding their audience. We walk through why an AI-based platform is the ideal solution to gather and interpret Amazon data, and how FBA sellers can use this information to get ahead of their competition.
He also reveals how to use these metrics to grow your business. According to Rael,
“There are three levers you can use to help increase your customer lifetime value. Getting customers to buy again is the biggest thing. Increasing the average order value is another way of increasing your LTV, and another way of doing it is getting them to buy more frequently.”
Rael also shares insights into the data that Amazon aggregators find most valuable, and how they use that information to inform their buying decisions.
Whether you’re looking to enhance your customer experience, optimize your product offering, or simply learn more about the nuances of AI, this episode has it all!
Topics Discussed in this episode:- How Rael made his way into the world of online business (02:23)
- The challenges Amazon sellers face when trying to access their customer data (09:24)
- How Rael created Nozzle to help FBA sellers overcome these challenges (12:05)
- The various ways Amazon sellers can optimize their LTV and CAC (16:00)
- The Amazon data sets that FBA sellers are most surprised by (21:54)
- How Rael harnessed AI to create a unique solution for gathering and interpreting Amazon data (25:14)
- The Amazon data sets that aggregators hone in on when eyeing a new acquisition (34:04)
- Rael’s predictions on the upcoming Amazon trends in 2022 (38:31)
Sit back, grab a coffee, and learn how to leverage your customer data to maximize your business.