Today I am excited to share a new(ish) online arbitrage tool with you Amazon sellers. (It's gone through lots of beta testing and years of development)
I've had the privilege of being a Beta Tester for this online sourcing software for the last few months and have been absolutely BLOWN AWAY!
I am SUPER picky when it comes to what I will promote here on The Selling Family site and it takes a lot for me to be REALLY impressed.
So, know that I don't take this recommendation lightly. I think you are going to be just as impressed as I am with this new tool.
I've even got a behind the scenes / how-to video for you on how it works and how you can use it.
So, what is it?
The tool I am sharing with you today is called Source Mogul
This is an automated online sourcing tool unlike any other out there right now.
Currently, Source Mogul can automagically (hehe) compare the entire online catalog of products from 120 websites (many more to come) to the database of products on Amazon.
That means it checks all of the products listed on Farm and Fleet (for example) to see if the products are also listed on Amazon. If they are, then you get a nice and easy to analyze set of results that you can choose from to see what you would like to purchase and then resell on Amazon.
I have a video for you to show you exactly how to use Source Mogul to increase the number of items that you find online to resell on Amazon:
*The video says 60 websites, but it is already 120…told you more coming soon 🙂
If you prefer to read about Source Mogul, you can do so below 🙂
How To Get Started Using Source Mogul
The first thing that you need to do is sign up for your Source Mogul account 🙂
Next, you need to connect Source Mogul with your Amazon Seller Account. This is required in order to use Source Mogul. They won't use your Amazon account information for anything other than checking to see if you are eligible to sell the products and pull the Amazon information when doing your search. Any service like this that pulls information directly from Amazon is required to connect to your seller account.
In order for them to connect, you DO need to have a Pro Merchant account on Amazon. If you DO NOT have a Pro Merchant account, you will not be able to use the Source Mogul software. This is just one of the many reasons why you SHOULD have a pro merchant account.
How To Run A Search Using Source Mogul
When you are ready to set up your first search in Source Mogul you will need to go to the Search Tab and then choose between “Search By Supplier” and “Search By Amazon Category”.
Yeah, did you catch that?
You can search an entire category on Amazon and it will do a reverse search from all of the stores they have in the database!
I like to search by store so that I can place large orders with multiple items at once, but have fun and try out many different search types.
How To Search By Supplier Using Source Mogul
If you want to do a search by a store, you choose “Search By Supplier”.
Next, you can either search for the store by name or browse through all of the stores available.
The ones that have the lightning symbol have been cached within the last 24 hours and those searches will go faster than one that has not been cached in the last 24 hours.
After selecting a store, you can even add in discount codes or shipping costs! So, if you have a site-wide 20% off coupon (you know, like Disney.com likes to do) you can add that to your search and it will automatically apply the discount and figure that into your profit calculations.
Once you make your selection and add discounts/shipping you can then start your search.
Searches take a few hours (sometimes up to 24 hours depending on the size of the search). You will want to set up your searches and then come back later in the day or the next morning.
I like to set up 3-4 searches and then come back in 24 hours. The searches will run one after the other, but will not run simultaneously.
Aren't you loving how intuitive this software is? It is all pretty self-explanatory and user-friendly!
How To Filter Your Search Results
After your searches have completed, head to the section called “Results”. This is where you can see the results from any one of the searches you have run, or all of the searches you have run.
This is where this program really stands out from all the rest!
By default, the search filter settings will show you any products that have a 20% ROI, $2 profit and are in the top 15% rank in their category.
Depending on your business model, you can use the slider bar to make the filter looser or stricter and the results will automatically filter out/in depending on the new criteria. (I LOVE this feature!)
The next thing to note is the Match Rate Sensitivity. This is where you can adjust how sensitive the filter is. The higher the sensitivity the more accurate the results will be. The lower they are, the more research you will need to do to verify the accuracy.
How To Quickly Analyze Your Results
Once you have set up your filters, you can do a quick check of each of the results to see if they look like a good fit for your Amazon business model.
At this point in the results, I am checking a few specific things:
- Are the product titles a match
- Are the product images a match
- Does the Keepa graph show drops in rank
- Is the price consistent
- How many sellers are there competing for the buy box (Sellers that say Merchant are merchant fulfilling if it says Amazon that means Amazon fulfilling, not Amazon as a seller)
If all of these checks meet my criteria, then I move the item over to my “Wish List”. (I'll explain that in just a minute)
If there is any issue with being unsure if the item is a correct match, or I want to look further into the history, I will open the product page for both the store and Amazon to analyze the products more thoroughly.
I can do this by clicking the image or product title right inside of Source Mogul.
I love how easy it is to see the product images and titles for both the retail store and Amazon. This makes the product check process go super quick!
Using Wishlist To Check Item Stock And Selling Eligibility
After you have gone through the search results and marked all of the ones you are interested in pursuing further, you will head to your Wish List.
The wishlist will store all of these items for as long as you want. This is great for items that have stocks that come in/out often. Or that you want to replenish later on.
The first thing to do in your wishlist is run the restriction checker and the store availability checker. (you can click both at once)
After you do this, it will show you if the item is currently in stock at the store and if you are eligible to sell it.
This is really helpful for when you run scans a few days before analyzing the results (hey, we all get busy, right?).
No point in wasting time looking into items that have run out of stock, or that you can't sell anyways.
Here are some examples that have no stock or have brand restrictions.
Once your item meets all of these checks, I do recommend that you do one final check by opening both the Amazon product page and the retail store page just to make sure everything is as expected.
You want to check things like:
- Product description
- Model number
By now, you should have at least a few items that you can purchase and send in to Amazon!
As you can see, an online sourcing tool like Source Mogul can pay for itself in just a search or two. Everything else is just adding to the bottom line of your Amazon business.
Ready To Start Your Free Trial?
To start your free extended trial, just head over to Source Mogul using this link and you will quickly be on your way!
If you have any questions at all, please feel free to add them in the comments below. I would love to help you use Source Mogul to the best of it's abilities.
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