Amazon is the world’s largest marketplace with thousands of products sold every day globally. If you are an online retailer, Amazon marketplace can be a great platform to grow your business. While there is a lot of competition, if you get it right, you can reap all the benefits Amazon has to offer.
For starters, it has access to millions of customers to whom you can expose your products and brand. However, to increase your sales, you must do what is right in order to keep up with the competition. The scope of the competition is so high that you can easily find hundreds of sellers selling the same product as you are. This is where your experience, your market knowledge, and your ability to finding the right target customer base come into the play.
In this post, we will discuss the top tips that will add to your accomplishment as an Amazon seller and grow your Amazon business.
Let’s get started.
1. Set a competitive price
The first thing you need to do before starting an online business is to analyze the whole market scenario to determine which products are worth promoting.
You need to sell products that have an adequate margin to provide you a reasonable rate of profit while still being competitively priced. In simple terms, set a selling price that will win you the Buy Box. In order to eliminate the guesswork out of pricing, take the help of the right Amazon seller tool at https://us.sellermotor.com/, which will help you determine the best price for you to set.
2. Use the competition to your benefit
As you already know that there are already hundreds of sellers selling in the same niche as you are, you need to use this to your advantage. Well, not all of your competitors are successfully selling the same product. While the quality of the product matters, it becomes irrelevant if your product doesn’t appear on the first page of the Amazon search results.
You can see what tactics your competitors are using. From the keywords to product listing, you can take idea from their listing page. Moreover, you also need to read their customer reviews and see what they like and what they are not liking about the product. This way, you can make some changes to your product, whether it is the functionality, color, or size, and present it to your customers.
3. Optimize your product listings
Optimizing your product listing is by far the most time-consuming task when it comes to selling products on Amazon. For starters, you need to understand Amazon’s A9 algorithm. With over 300 million users, Amazon is the place to be for sellers. Best-selling products perform better in Amazon searches, and in order to increase your sales, you need to perform quality listing optimization. The key approaches to product optimization include content, keywords, and FAQs & customer reviews.
You need to include all the relevant keywords on your Amazon product page to improve your Amazon rankings. Consider the following points when adding the keywords:
- As per the new ranking algorithm, you need to craft a descriptive, yet readable title with your primary keyword in it.
- You need to include backend keywords, also known as the ‘generic keywords’ in the search terms. Keep in mind that you can only add up to 249 bytes of these keywords. If you use more, Amazon will not index these keywords.
- Intelligently place the primary keywords and LSI keywords in the product description and bullet points.
- Last but not least, assign additional product information like material type or product size, to your product.
This will help you improve your Amazon SEO. Next, you need to optimize your content. Content optimization is critical since it can increase the conversion rate on the product page and the click-through rate (CTR) in the search results. If done correctly, both can contribute to increased sales and, therefore, a higher ranking. In order to optimize your content, you need to improve the following:
- Product images
- Product texts
- Product information
Pro Tip: When it comes to product images, consider hiring a professional product photographer.
Lastly, customer reviews and FAQs play a vital role in growing your Amazon business. They are critical to the conversion rate and CTR of a product. The more the reviews and higher the stars, the more easily will be your product visible to your targeted customer base. Once the product is delivered, approach the customer to drop a review of the product. You can also use ‘parcel inserts’ to prompts buyers for reviews.
FAQs, on the other hand, are just as relevant as any other optimization strategy. When looking for a particular product, customers often ask about specific details of the product. Whether it is the application of the product or any other information, you need to provide an FAQ for all the possible doubts and questions your customers have. This will ultimately improve the information content of your product page.
4. Avail the benefits of Pro Merchant Subscriptions
There are two types of Amazon selling accounts
- Individual Selling
- Professional Selling or Pro-Merchant Selling
The individual Selling account is free, while the Pro Merchant account costs $39.95 per month (approx). A Pro Merchant subscription can give you access to additional tools and make your Amazon selling easier. This is especially helpful if you are planning on to list multiple items. If you are not a Pro Merchant and selling 40 products per month, you are losing money. This is because the individual sellers have to pay an additional $1 fee, on top of other charges, for every order placed. However, if you are a Pro Merchant, this additional fee is waived, which can save you a lot in the long run. In addition to that, you will get benefits like enhanced reporting, upload in bulk, and more selling options with the ability to list unique, new products to the marketplace.
5. Use Fulfillment by Amazon
If you are an Amazon seller but aren’t using its FBA platform, then chances of your success are less. With FBA, you don’t have to worry about your inventory. All you have to do is send your inventory to the Amazon warehouse, and from there, they will take care of everything from packaging and managing orders, including delivery and returns. This way, you can focus on the more important stuff. You just need to pay the storage fee and the shipping cost. It may seem like a whole lot of money, but if you see the big picture, you are saving a lot with FBA.
Selling on Amazon is not that easy as you think.You should think of outsourcing most of the tasks so that you can focus on things that are more important. Using some Amazon seller tools like SellerMotor will definitely ease up the process of ad optimization, keyword research, and pricing, among others.