Approximately $88,000 is being spent worldwide on Amazon every minute. Add to this the fact you are 4 times more likely to make $1 million in sales on this platform instead of eBay, and it’s clear Amazon has got a lot to offer third-party retailers.
If you’re thinking of putting your business on Amazon, or you’re looking for ways to boost your sales, here are some great tips on how to make the most of the world’s largest e-commerce platform:
Create A Compelling Product Title:
One of the first things customers are going to see is the title of your product listing. This isn’t just useful for telling customers what you’re selling but it’s also beneficial for getting prime keywords into your listing.
However, you only have 150-250 characters in which to do this, so you need to be savvy.
In the title, you should consider including your brand name, what the product’s called and any distinguishing attributes – e.g. quantity, use, size or color. The idea is to inject these target keywords into your title while also promoting your product to customers. That’s why you don’t want to stuff your title with keywords because this will make it look forced, unreadable and, therefore, unattractive to your buyers.
A helpful tool to do this keyword research with is Google Keyword Planner, which will show you what keywords are trending and in what volume. Equally, it’s also worth searching for your keyword in Amazon to see what other recommended search terms there are.
Make Sure Your Pricing Is Competitive:
A common misconception when it comes to selling on Amazon is that it’s too competitive. However, over half of sellers on Amazon report a profit margin of more than 20%.
If you want to be successful on Amazon you need to combine great customer experience with good availability, fast fulfilment, and competitive prices. And thankfully, remaining competitive with your prices doesn’t have to be a time-consuming project.
There are a number of companies that provide an Amazon repricer which will provide 24/7 monitoring of your competitors’ pricing to make sure you’re offering the best. It could even be as simple as saying you want to be $0.01 cheaper than the most competitively priced products.
Because these systems work day and night, this provides your business with a huge benefit. For example, if one of your competitors no longer has stock of an item you sell, the repricer will bump up your pricing again. This makes sure you’re still the most competitive but are getting maximum profit for your products.
Use Reviews To Boost Your Customer Base:
Customers are starting to place even more trust in online reviews, which makes them just as important, if not more so, than personal recommendations.
The more information you can provide in these reviews, the better. Think outside the box when you’re putting these together, including reviews that are more engaging (e.g. they contain visual tools, videos or images) and reach out to previous customers to get their thoughts.
As little as a tenth of Amazon customers will leave reviews, which is why it’s important to be proactive in getting these. There are tools that can help you increase how many reviews are submitted about your products, and these can also help keep negative and neutral comments to a minimum. All of these reviews will go towards your Amazon seller performance, which will affect your ranking and where your products are featuring in the marketplace.
It can be worth contacting your buyers outside of Amazon to try and get them to provide you with a review. This is particularly beneficial when you’re launching a new product as it allows you to get their feedback without damaging your seller performance on Amazon with any negative reviews.
Market Your Company Outside Of Amazon:
Even though you’re not allowed to direct traffic away from Amazon, there’s nothing stopping you from directing customers direct to your Amazon store.
Easy and free ways of doing this are to write blogs on your company website (or just by setting up a blog on WordPress) and promoting your business and products on social media. Link to specific products or your company page, making sure these links appear as natural as possible within the text.
Another great way of getting repeat custom is to include coupons or offers in the parcel you send them. These could be free shipping, a one-time promotion or discount code for the next time they order.