Amazon's $5 Sales Multiplier

Robert Oliver shares a story about recognizing the Amazon opportunity before others did.

"I started by working with brands as a consultant helping them sell on Amazon. I'm going to these guys, 'You're spending $50,000 on a billboard campaign, and when you give me $5 to spend on Amazon, you're having trouble tracking that. But right here we're making $5 for every dollar spent.' And this is me as a 22-year-old kid.

They're like, 'No, this is the way it is' or 'Bodybuilding.com needs these' or 'GNC needs these.' By the time I finally convinced them, it probably took me like a year. I'm going, 'These guys are slow.'

At first you think you're dumb, but eventually you realize they're dumb. It's like, 'I keep putting a dollar into this magic money machine and $5 are coming out, which is a five times return on ad spend.'"