74% of buyers start their product searches on Amazon rather than search engines like Google, according to research from Jungle Scout. Customers will inevitably conduct direct product searches on Amazon as this trend continues to grow. Even though conventional wisdom advises you to broaden your distribution networks and lessen your reliance on the giant marketplace, the reality is that, when used wisely, Amazon can be an excellent distribution platform to generate massive revenue.
By understanding the concept of promoting your Amazon store, you can keep control of your brand while boosting your exposure to your target market.
What Justifies Selling on Amazon?
Selling on Amazon may be a lucrative economic venture, even for newcomers. Here are some of the factors that justify selling on Amazon:
#1 It is the biggest marketplace in eCommerce
Amazon is a leading eCommerce marketplace with a sizable global consumer base. According to reports from 2022, it has 2.4 billion website visitors and more than 200 million Prime members. It generated $25 billion in annual revenue from just retail subscription rates. It remains the biggest eCommerce platform in the world, with about 9.5 million merchants (of which 1.9 million are active).
#2 Millions of people around the world trust Amazon.
Amazon is a reputable international eCommerce brand. Selling your products via Amazon can help improve your brand’s reputation. Customers may be wary about transacting with your business. However, cooperating with Amazon might make customers feel more at ease about purchasing from you.
#3 Amazon provides a reliable source of revenue
Amazon might be a lucrative marketplace if you want to increase your income, especially if your target market uses the site for shopping. Additionally, because of Amazon’s enormous user base, you can reach out to new potential clients.
#4 Amazon only levies a small fee
Amazon only levies a small fee, which makes selling feasible and reasonable. You will be billed a one-time monthly subscription charge of $39.99 and a small percentage of your sales if you have a merchant account. Additionally, no listing costs are involved, allowing you to list as many products as you choose.
The marketplace also has an Individual selling plan, a pay-as-you-go option that doesn’t require costs unless you sell something. However, you will be charged $0.99 per item if you make a sale.
8 Best Tips To Market Your Amazon Store In 2023
We can all agree that selling on Amazon is advantageous, so let’s discuss how it works. Once your store is operational on Amazon, you should start marketing it. Similar to any other distribution platform, you receive more from it if you invest more. Therefore, setting it and forgetting it is insufficient. We’ll go over eight proven strategies for promoting your Amazon store and increasing sales:
#1 Execute Competitive Analysis
Knowing your competition is the foremost step in marketing your Amazon store. Based on competitor pages, you can generally learn a lot about what buyers want and don’t want. Additionally, constantly checking for related goods will inform you about evidence-based practices and marketing chances. To thoroughly analyze your competitors-
- Check out the consumer feedback and FAQs on competitor stores. Customers’ preferences are clear, and these choices inspire new product developments, concepts, or business models. Are customers criticizing the quality of the goods? Do customers find the packaging to be problematic? How many reviews do buyers mention the price? What additional or complimentary products did they mention in the reviews?
- How frequently do competitors update the photographs, videos, or other information that goes with their products? Are they revolving through event-themed images? Do they communicate product advantages and usability in more detail than you? What impact do pricing changes have on their seller rankings, and how frequently do they do so?
- What complementary product categories do those companies perform well in? Is there any cross-promoting option available? According to their client ratings, what motivated them to click the ‘Buy’ button, and how might it affect how they look for your products going forward? Do those category keywords (search terms) sound right for your sponsored product advertisements?
- Finally, if competitor reviews grow faster than yours, try to identify why. Find fresh and original concepts, such as pictures or other content from more diverse categories, and execute them ahead of your rivals.
#2 Optimize Amazon Product Listing
Online shoppers, especially those on Amazon, choose within seconds whether to continue exploring a product listing or return to the search results. So how can you overcome this first obstacle and get a buyer to go past the surface and carefully consider your product? First, make things easier for them to begin with.
- Product title is important. Does your selected title accurately convey what the product is and whether it meets the customer’s needs? Is the company name mentioned? Does it make it clear what the main benefit is? Most crucial, is everything said briefly enough for it to be skimmed?
- Product descriptions perform the role of a marketer. A 10-line section won’t cut because clients are skimming; therefore, they write shorter sentences. Reiterate your brand’s core selling points while mentioning any evidence to help clients realize why they must make a purchase immediately.
- Bullets are elevator shafts. Since most customers would skim this section, only use bullets a couple of lines long. Address all the critical questions they have. Mention essential details such as whether a warranty or guarantee is accessible to resolve problems.
- Product Images are a silent salesman. Before you zoom in or pan, your primary photo should depict the product. Additional images should show the goods from various perspectives and, if appropriate, depict lifestyles. Also, It is beneficial to include an image of the “box backside,” which consists of the contents, directions, etc.
#3 Set Right Product Prices
Determining the right price for your products can be challenging. However, keeping a few crucial things in mind can stop even more extensive problems from arising.
- Pricing parity is covered by your contract with Amazon when selling products. Under the general pricing regulation, your item price and the total price cannot be lower at any other online sales channel. This also applies to your eCommerce store. Thus, make sure to price products lower than other channels to avoid a potential account suspension for breaking this rule.
- Since Amazon is a giant marketplace, you might compete with millions of other sellers to win the coveted real estate “Buy Box.” There are many methods for repricing products on the market, and Amazon has made the ‘Automate Pricing’ feature on Seller Central available to you.
#4 Run Sponsored Product Ads
It takes a lot of effort to rank on the first page of Amazon search results, even with the best SEO optimization techniques. This is because Amazon takes several ranking variables into account.
You can pay Amazon to display sponsored adverts for your products higher in search results to promote your Amazon store. The payoff from sponsored Amazon advertisements is guaranteed because you only pay with this promotion when customers click on your advertisement. In addition, running sponsored PPC advertisements has two advantages: it increases the visibility of your listings and makes it simple for customers to find your product and make a purchase.
Here is a quick three-step process:
Step #1: Initiate with autonomous targeting. It thus enables Amazon to provide a comprehensive list of prospective terms using its robust search engines. The objective is to get information on how different keywords perform; however, selecting a uniform default bid for all search terms necessitates selecting a uniform default bid.
Step #2: Assess your automatic targeting campaign to identify which keywords performed the best after obtaining, at minimum, a few months of data. You should move those to a customized campaign so you can now only concentrate on the most pertinent keywords that worked successfully for you. You can change bids for a customized campaign using most search key terms.
Step #3:
- Keep revising your manual campaign’s bids and keywords.
- Try different bid amounts if you genuinely believe you must add new keywords that still need to perform well.
- Continue testing until you discover a bid level that works well.
#5 Make the Most of Promotion and Marketing
Promotion or marketing is an excellent method to sell products more quickly, generating more reviews. Of course, the objective will not be to advertise or offer steep discounts constantly. But let’s say you can add a few at the initial stage of your Amazon product lifecycle. In that situation, it is best to gather more reviews and increase relevancy so more clients may locate you.
Merchants have the option of choosing to have their goods reviewed early. Customers who post reviews are selected randomly by Amazon, then rewarded with a little gift in appreciation for their unbiased reviews. Of course, there is no assurance that this evaluator will write a favorable one; however, it is a fantastic chance for vendors to introduce new goods.
#6 Encourage External Traffic
Most companies overlook this or only use their web store for external channels. Thus, while driving outside traffic to your website is undoubtedly beneficial, the same strategies may also be used to advertise your Amazon store.
Strategically choose which channels to send traffic to Amazon. For instance, bloggers frequently enjoy sending people to the marketplace since they may earn affiliate commissions on any sales made by customers who use their unique link.
Myths Regarding Amazon Selling That Should Be Avoided in 2023
#1 Amazon is overcrowded
Even if Amazon has millions of products, there is still an opportunity for a new company to succeed.
A potential Amazon consumer may still choose your goods over a rival or supplier, even if you cannot compete on price. Your product’s quality, distinctiveness, or features might be the cause.
Don’t raise obstacles. Even if selling products on Amazon may only increase your revenue by $5,000, that is still more than you would have earned otherwise.
#2 You can set up a store and forget it
Owners of eStores frequently believe that marketplaces will lead to consumers discovering their products independently. However, sales generation requires initiative, particularly at the early stage.
You’ll have a better chance of being discovered organically if you’ve made several sales and garnered positive reviews.
#3 You can lower your store’s priorities
If truth be told, there are many other online marketplaces besides Amazon. You can sell on more platforms as well. However, because you can sell it, your internet store may be more valuable in the long run.
Additionally, your web store would still be a backup option if Amazon closed or suspended your store.
Avoid being reliant on a single sales channel. Your business is less dangerous for you if some of the income sources stop working out as planned the more they are.
#4 New products struggle to attract organic traffic
If new products are correctly optimized, they can attract organic traffic.
Your new items can receive organic exposure if you direct sponsored traffic to them as soon as you publish them and concentrate on generating purchases and reviews early on.
Even though prospective buyers might be wary of unreviewed things, some people will purchase unreviewed goods if they want them.
Concluding Words
Spending time enhancing and promoting your Amazon store will put you in a great position to compete. However, Amazon store management and promotion are undeniably extremely competitive and complicated.
Don’t get sidetracked by your attempts to trick the algorithm. Rather than concentrate on what a customer might anticipate seeing:
- Precise and illustrative Amazon product pages
- Reasonable Pricing
- Reliable and excellent reviews
- A reliable and accommodating vendor
If you’re able to concentrate on the important things and carry yourself professionally and credibly, you are indeed succeeding at promoting your Amazon store.
