How to Take Your Amazon Business to the Next Level
If you are conducting a retail business, then you must try to reach out to potential customers on the channels they prefer for shopping. However, with the level of competition on the web and such channels, merely being there won’t work. It would help if you had robust strategies backing them up. In the coming years and for the recent past, customers are there online, and Amazon is their most popular e-commerce channel.
Let’s dive into the figures a bit to back up our previous statement:
- Since 2016, 50% of all retail growth has been driven by e-commerce. This tremendous growth is all set to move in a higher trajectory till 2023, at least.
- Almost one in two e-commerce retail sales takes place on Amazon. According to 2018 figures, Amazon was the source of 49.1% of all e-commerce sales. This sales figure alone is more than the combined sales of the next nine e-commerce channels.
Suppose you are looking to guide your fledgling or even thriving Amazon business to the next level. In that case, the following tips and strategies should help you:
● Give Priority To Your Activities On Amazon
To generate more sales on Amazon, you need to give due priority to Amazon-related activities. Such activities usually mean having a dedicated in-house or outsourced team specializing in auditing, optimizing, and managing your Amazon Store.
Indeed in many, if not most cases, it is hard to maintain an in-house team. Besides the financial, the talent pool available at your location often serves to make this option unfeasible. The experts from infinitefba.com suggest using specialized seller tools for maximum sales of your Amazon tools. Such seller tools make selling on Amazon like a pro relatively easy minus the substantial talent requirement. Through a combination of automated tools and outsourcing you can overcome the HR gap.
● Price Your Items Competitively
Amazon is a highly competitive marketplace where often price serves as the key differentiator. However, that is no reason to make it into an obstacle between your business and higher profits. Make use of competitor’s prices to determine which items you are going to sell on the platform.
It would be wise to only select items that give you a good margin. Then you can use a part of the healthy margin to promote the said items. This strategy should serve you well. Also, while pricing your products, consider expenses involved in order fulfillment, inventory besides overhead costs.
● Create Suitable Copy For Products
With millions of customers searching for the best deals and thousands of products, shopping and selling on Amazon can, at times, be a bit overwhelming. Amazon provides a great search facility that lets customers filter products besides allowing them to search for products with the needed features.
While performing such search operations, product information plays a critical role. Suppose your product information is detailed and authentic. If you succeed in that, you stand a better chance of being found in searches for relevant products.
● Be Sure Of What Sets You Apart
It is not possible to market your product in the best possible manner unless you know its key differentiator. Of course, price plays an important part, but that isn’t the only part. You need to address a specific pain point of the customer that other sellers are ignoring.
It is good to craft your product copy and all sales material on the Amazon store in line with this crucial differentiator. Customer reviews of competing products will help you find this pain point of customers. This can be achieved by observing the following in their reviews:
- What is the customer opinion regarding the product?
- What are the three main plus points of the product?
- What are the three main reasons behind the dissatisfaction of customers with the product?
You need to find the answer to the above questions and respond to them accordingly through your copy and images.
● Implement Inbound Strategies
It isn’t enough to look at Amazon only while marketing your products. It is critical, but adopting inbound marketing practices besides SEO and PPC meant for the Amazon platform is essential as well. To cite an example, you can use social media campaigns to boost awareness of your brand while at the same time driving up Amazon sales figures. Social media makes daily interaction with the target audience possible. You can use this to arouse trust and interest in your brand and turn them to loyal customers.
It is a great idea to put links to your social media presence from your Amazon Store.
● Use Influencer Marketing Techniques
It is common for consumers to begin the journey of buying a product from the internet. While determining the final purchase inputs from reviews, especially those by influencers on social media and celebrities and industry matter considerably.
A large study found that almost 49% of consumers consider buying advice from influencers while making a purchase.
So, it is only natural to take the cue from this consumer behavior and promote your Amazon products through industry influencers.
● Automate The Store Listing Process
If you are continuously adding and updating your product lists, you are merely wasting your time. This crucial time and human resources and the associated resources would be better if allocated to things like engaging with customers and marketing your products.
Through automated listings, you can make the whole process simple, and get to save on both time and money. You can find such automation tools in sites like Infinite FBA that we mentioned earlier.
● Transform Into An Fulfillment by Amazon (FBA) Seller
To take your Amazon business to new heights and become a pro seller, you need to sign up for the FBA program. FBA is an acronym for Fulfillment by Amazon, and the term refers to the sellers that store items with Amazon in advance, and when the items get sold, Amazon duly ships them.
The FBA program pays immaculate attention to selling details like customer service, timely deliveries, returns, and even quick refunds. You want to opt for the program if you are looking for time to focus on other business matters.
FBA comes with high fees, but accompanying them are high sales volumes. However, more often than not, the shipping and packaging costs make up for the amount you spend on the FBA program.
You can learn more about Amazon FBA on some of the courses mentioned in the ippei.com blog.
As a seller, especially if you are on Amazon, you want to be a lean business that responds to changes quickly. It would be best if you fine-tuned the different aspects of your store on an ongoing basis. This fine-tuning is the final key to finding success as an Amazon seller. Good luck!