There was a recent virtual roundtable held for eCommerce entrepreneurs who have seen great success by leveraging Amazon. Below are some of the key things you can learn from the roundtable discussion.
Even the most successful Amazon-based businesses will tell you that it is going to take some time to get into Amazon’s good books by providing well-written and clear descriptions, manipulating keywords, getting good reviews, and lighting as many stars as possible on your products.
You need to keep in mind that there is a fine balance between a listing that succeeds and one that is punished by the algorithm. One mistake that many people make is keyword stuffing, which is going to achieve the complete opposite of what you want. The bots are going to identify this and your listings are going to be moved further down on the results page. Consumers are also not stupid; they are tech-savvy and can easily tell when something has been written for search instead of the consumers.
There are some things that are going to differentiate between a bad and good listing. It is important to focus on high-quality product images and a description that is going to solve a problem for the consumer. The listing needs to describe the benefits the consumer can expect from your product. You can learn many more ways to make money on amazon.
A good review and high star ratings will clinch the deal fast. There is an enormous difference between a 4-star listing and a 3-star listing. If you are the type of seller who focuses on the customer, then you can easily rise above your competition especially when they are employing methods such as purchasing reviews. Amazon is putting a lot of effort into clamping down on this practice, which gives you an advantage over those using them.
Advertising also becomes more competitive; this is because Amazon is giving ads more prime real estate on the results page.
If you find that the ads aren’t working, then try figuring out the problem. You will find that your ads are getting clicks but it is not converting to sales. Check out your listings and see if there is anything missing. You first need to improve your listing before investing in PPC, not the other way.
You need to remember that you can’t just set up a PPC campaign or ads on Amazon then just walk away, you need to monitor, tweak, and analyze them. If you don’t have time or knowledge to do that, it might be better to outsource it. An amazon account manager can help you with advice and tips on this area. You will know alternative formats that will give you the best return on investment.
Taking advantage of Amazon’s functionality
This might mean extra overhead, but it is a good idea to invest in Amazon account services because it can open opportunities for your business. Learn more at Amazon Agency 360. Amazon has a ‘Prime’ label for the best sellers, and since it was introduced, it has become a goal for businesses using Amazon because it gives them a chance to be seen as a high-quality sellers.
There are some emerging and new channels on Amazon, and if you can take advantage of that, then you are going to be ahead of your competition. Amazon Live is a platform like the TV shopping channels, where consumers can watch live streams of products, the benefits, and even interact in real-time. This provides you with the chance of getting closer to your customers. This is a great option for more implies and low consideration purchases that cost less than a hundred pounds.
Amazon Posts is a platform that looks like social media and users can post about their experiences about buying, sharing productive reviews, and liking products. This can be a great tool especially when you are heading into a new market and want to test out your product before you release it. This is a good option when you are going head-to-head with the big players because there is a very small chance that they are going to be focusing on the newer channels until it has embedded into the seller’s culture.
If you want to understand the buying behavior of your target better and unpick their habits, demographics, and experiences – then you are going to need access to data and also actions and insights that can turn that data into revenue. The process of turning data into insights and actions is time-consuming and requires specialist skillsets, so it might be a good idea for companies with enough capital to invest in outsourcing it to an Amazon account manager or hiring a specialist who is going to give you recommendations and actions, which saves you a lot of time compared to doing the analysis yourself. If you are not experienced in a given area of digital marketing or data, it is better to look at other options so you can free up your time and have a chance to focus on the more important issues affecting your business.
Build an engaged community and stay nimble
Amazon has become one of the most successful companies in the world because they have millions of users going through their products at any given time, and they have saved the payment details so they can just click once and purchase the products. It is important to be close to your customer, know their needs, and make it easy for them to purchase. Amazon makes it easy for you to directly hear what they are saying about your product, and you get real-time feedback which allows you to make improvements.
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It is important to know your audience and find the right gap in the market, but you also need to invest in the pre-and post-buying experience because that is how you are going to get longevity. Amazon likes it when outside traffic comes to their platform – try leveraging better internet marketing, social media, word of mouth to direct people, and community groups to your listings.
Products that are priced between 10 and 100 pounds are considered the sweet spot because buyers don’t do a lot of research before buying, which allows them to convert more quickly. It is also worth nurturing reviews and recommendations on bigger ticket items because customers will come into the funnel somewhere then convert on Amazon. Have a closer look at the channels you have so you can make sure you are getting good feedback.
As Amazon grows it is becoming challenging to do the same things you did before – it is important to build an audience outside of amazon because that is how you are going to scale quickly, mitigate the risk, and build a community.
This is not as easy as it might sound and many people have misjudged success on social media for e-commerce businesses. When there is a high number of followers but a low engagement rate, it means you are not creating intention with the customer. Focus on building engagement with customers who like your products, involve them by sharing their own content, provide them with valuable content they can share with others, and recommend you. Things are not going to happen overnight, but it is going to be worth it. Try finding someone who is well versed with the platform and enthusiastic about generating buzz around the products.
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