In this issue of the Amazon FBA deep-dive, we are analyzing Mindful Modern, a niche FBA brand in the meditation niche.
I’ve been keeping an eye on this brand for the past couple of months and there are a number of things I love about this brand.
Today, we’re going to do something slightly different and analyze an already well optimized FBA brand.
By pointing out all of the aspects that make it so good, you’ll come away with key takeaways to implement in your own business.
This is what we cover in this deep dive:
- Business Summary
- 4 Key Aspects
- What is the exit valuation of this brand?
- Actionable takeaways
Let’s get into it!
Mindful Modern Brand Overview
Originally founded in 2019, Mindful Modern currently has 32 products live on Amazon. Their best selling listing is their meditation cushion which has over 550 reviews and is estimated to be doing $8,900/month in revenue.
- Multiple established listings in a growing category
- Every product has a 4.5 star rating or better
- Large catalog filled with complementary products
- Differentiated products
- Heavy/expensive products requires strong logistics (sea shipping, full container loads)
- Low review velocity – many listings have lower than average review velocity meaning new competitors could spring up and overtake their review counts.
4 Key Aspects of Mindful Modern
I want to point out 4 key things about this brand that I absolutely love. Use the learnings below to see how you could implement a similar strategy in your business.
- Differentiated products through a low-cost value add
- Strong listing SEO and listing images
- Strong cross selling between different products
- Perfectly executed Brand Story and A+ content
Let’s get into it!
➡️ Win #1: Differentiated products through low cost value add
Mindful and Modern has similar products to competitors but they have been able to differentiate through including a meditation journal as a free add-on (shown below).
As a low cost product differentiation strategy, a journal is a great fit. It provides the opportunity to build a connection with customers and potentially get them to order more meditation accessories off of Amazon.
As shown below, none of the other top products in the category are currently including a journal so this provides a great way to stand out and give more value to customers.
➡️ Win #2: Well optimized SEO and Listing Images
Mindful and Modern’s core listings has great listing SEO and listing images which contributes to a likely high conversion rate. Below you can see all of the core keywords are included in the title.
For the main image, they are able to differentiate themselves through the meditation journal and through adding some buckwheat as additional accessories to the image. This draws the eye in search results.
When we click through the listing, each image has a strong headline and lists the product features. You can clearly see where the product can be used and see all of the benefits of it’s specific construction.
There are also multiple listing videos which are used to increase conversion rate.
➡️ Win #3: Strong cross selling between different products
We talk about cross selling a lot in this newsletter and for good reason -for many FBA sellers, it’s one of the easiest wins to implement and increase overall revenue.
Mindful and Modern has implemented all of the cross selling strategies we preach here. As we scroll down their main listings, we first see Sponsored Display ads cross selling different products. This is the defensive strategy we talked about last week.
Then we come to a popular easy win: Virtual Bundles. Here they currently have 1 virtual bundle but they could do better by creating at least 3. That way, this section fills up more of the horizontal space on the page.
As we continue to scroll down the listing, we can see they are also running Sponsored Product defense ads against their listing.
The one thing they could be doing better is to include a comparison table in their A+ content. This is additional free real estate on their listing that they are not using to advertise their other products in the catalog.
➡️ Win #4: Optimized Brand Story and A+ Content
Another thing that Mindful and Modern does extremely well is their Brand Story. So many brands neglect this but it is essential in helping build an emotional connection with your customers.
Look at the below. It has an elegant design, links to the Storefront, and gives a little bit of background to the brand. The only thing that may make this better is to put a face to the brand. A personal founder story by a real person would create a slightly stronger connection.
Mindful and Modern’s A+ content is also beautifully done. As per our recommendations, they went with well designed images that form a cohesive feel along with some text for SEO purposes.
Each image has a strong headline and illustrates the different benefits of their products.
One way to improve the A+ content would be to add a comparison table at the bottom showing all of the products with images that say “Click Here”. That would increase traffic slightly to their other listings.
How Much is Mindful and Modern Worth?
Mindful and Modern has an assortment of well branded products in a growing category. It currently has 32 listings live and seems to be actively adding new products to the category.
Mindful and Modern is currently estimated to be doing $52,000/month which equates to $624,000 per year in revenue. Given the niche and products, I’ll assume a conservative net margin of 20%. That gives an annual profit of $124,800.
In this situation though, I feel like basing the multiple off of revenue/net income is slightly inaccurate. Mindful and Modern has all of the markings of a 7 figure brand – just not the required net profit numbers.
For the next year, Mindful and Modern should focus on increasing overall revenue so that they can exit for 7 figures.
Here are actionable takeaways that you can apply to your business today:
- Look at your current product offerings on Amazon. Are they differentiated or are there ways you can differentiate them further?
- Fully take every opportunity to improve your brand and conversion rates on Amazon. Incorporate videos in your listing, use my brand story, and A+ content with comparison tables to cross sell other products