?? A Real Snake in the Grass

What you’ll find in this week’s newsletter:

• ??? A Real Snake in the Grass [True Story]
• ?? NEW AI Product Listing Release
• ??? My Favorite Tweet of the Week
• ?? What You Missed Last Week
• ?? Amazon News & Updates
• ?? How to Sell a $9.99 Product at $55.99 [Case Study]

A Real Snake in the Grass [True Story]

Back when I was in high school, after class, my friends and I would head to our favorite hang out spot “Black’s Bridge”.

Not wanting to smoke at my parent’s house (sorry mom and dad), I’d pick up a pack of cigarettes, then hike down under the tracks.

By the way, this was back when a pack of cigarettes was 75 cents!

Anyway, this time, we jumped down under the bridge and noticed something very wrong.

The grass beneath us was moving…

We looked down and saw thousands upon thousands of garter snakes!

This isn’t the real picture but it’s close to what I saw

The snakes completely surrounded us. I've never seen anything like it in my life.

If you've ever watched The Simpsons, think of Homer Simpson going, “Oh my God, oh my God, oh my God.”

There was no way out except going across this 20 by 30 foot field of snakes…

Thousands of slithering snakes, below our feet.

It was crazy, and I think I'm still traumatized to this day.

I looked into it and it’s called a mating ball / frenzy.

Fun fact… There have been cases of these snake frenzies finding their way into basements of homes.

So that's my snake story.

Enjoy the rest of the newsletter.

— Norm

?? WHAT YOU MISSED LAST WEEK

Highlights from last week’s Lunch With Norm podcast episodes

Power Warranty Marketing on Steroids

Watch the full episode here

• Implement “an Extreme but Believable” Warranty? Differentiate your product with a warranty that stands out for its generosity while remaining plausible to consumersThis fosters brand loyalty, encourages repeat purchases, and enhances product launches by building trust and reducing purchase hesitation
• Prioritize Customer Service - Just Say Yes Adopt a customer-centric approach by approving nearly all warranty claimsThis policy builds a strong brand reputation,?encourages positive reviews, and turns customers into brand advocates by making them feel valued and supported
• Market at a Premium Price Point? Sell your product at a premium allows for better margins which can cover the cost of warranty claimsIn-Depth AI Tool and Software Breakdown

Watch the full episode here

Main Takeaways:

• Prevent Prompt Drift and Hallucination? Regularly review and refine AI prompts to prevent inaccuracies with AI. Use techniques like summarization to maintain focus and keep AI aligned with your objectives
• Claude vs ChatGPT??Claude's large context window allows for extensive data processing in a single query. Claude also offers more human-sounding output
• Perplexity vs ChatGPT??Perplexity offers an AI-driven approach to web searches, compiling comprehensive answers from multiple sources. Use this tool for more clear cut defined answers. Think of it as a more refined search engine

?? Making More Profit and Improving Cash Flow

Watch the full episode here

Main Takeaways:

• Accrual vs. Cash Accounting?Understand the difference between accrual and cash accounting methodsFocus on accrual accounting as it provides a more accurate picture of financial health by recognizing revenue when earned and expenses when incurred
• Understand Profit Margins and Benchmarks? Set targets for gross and net profit margins as well as refund rates. Strive for a refund rate under 4% and gross profit margins around 70%, after accounting for cost of goods sold and Amazon fees

• Use code: BeardNation for 10% off SellAnalytix

Enjoy the rest of today's edition by tapping the image below! ??