The Ultimate Guide to Increase Sales on Amazon and Other Marketplaces
Do you know that Amazon arises to the global list of research and development spenders by the multiple billion-dollar margins?
As reported by Bloomberg, the R&D obtain the level of success in 2017, it’s estimated that $22.6 billion is spent on R&D by Amazon.
In the beginning stage, they sold books to customers, from there they expanded their business and become one of the largest public companies in the world.
Now, Amazon is a titan of e-commerce, logistics, data storage, and media. It splashes in excess more businesses.
In this blog, I’ll explain to you in detail how you can develop a connection with the shoppers, generate more leads, and increase sales on Amazon.
Get Review and Feedback from the Target Audience
Reviews and Feedback have a dramatic impact on the sale on Amazon and can add value to the business.
Feedback is like a “Progress card” which shows the performance, quality, and service of the product. Customers give suggestions to the seller related to the product where they need improvement to satisfy their customers all over the wide area. It is entirely related to the customer’s product experience.
On the other side, a review is an opinion of the customers, which tells the detail and attribution of the product such as product life, guarantee, and their experience with a product.
Marketers can clearly recognize the customer’s expectation, concern, and preferences by reviews on Amazon.
Feedback and reviews play a critical role for them in selling their product. The customers are the vital resource that emphasis the sellers with the key information about the product they have. Feedbacks support marketers in their business success.
The sellers can examine the performance of their product by getting feedback from the customers and also identify how much the customers are pleased with their product. It also helps the sellers to address the pain point of the community.
The review is an essential part of the e-commerce business. 90% of customers say buying decision is influenced by online reviews.
Ryan Fish demonstrates in detail that how online reviews will impact various practices.
Buyers do a lot of research on Amazon before buying a product or service. Reviews help them while making an informed product decision, give the ability to compare similar products, and analyzed the efficiency of the product.
There are two types of reviews.
Positive reviews: Explain the performance and effectiveness of the product. It also persuades the audience to pay more money for quality products and services.
Negative Reviews: It negatively influences your customers buying decisions and product sales by approximately 22%.
There are some essential findings of the customer who used the internet to read reviews for the local business in 2017 and 2018.
- In 2018, 27% of consumers surveyed online daily for the local business as a comparison with 2017.
- 69% of customers monthly survey the reviews.
- 56% look online business weekly.
Sell a Unique Product
“If you use your money to create exceptional products you don’t need to spend it on ads,” says Seth Godin.
Unique product means the product which you’re going to distribute with the key attributes to retain your customers towards your brand, and nobody else in the market will have the same product as you have.
Before designing a product or item for your target audience, you need to accumulate information about the market trends, competitors, customer’s behavior towards the instant product.
After that, you can easily classify which product the shopper immensely need or demand in the market. It’s estimated that in Amazon the seller generates a profit of over $12,000,000 on sales every hour on average.
Amazon makes it convenient for the seller who is new in the market to come up with a brand new product that has unique features to get more positive reviews and feedback from the shoppers.
According to Omnichannel Buying Report, 78% of universal respondents to the survey made a purchase on Amazon.
To maximize the revenue, the sellers must codify the small segment they want to target. They should identify the hurdles their customers are facing and turn up with a unique product having a solution to the problem.
Along with the evolution of marketing strategies, customer behavior also changed. Sale conversion helps the seller to gather worthwhile information about the customer what they like or looking in the product to satisfied their requirements.
Improve Ad copy
Ad copy plays an essential part in the market while describing your product to the audience. It looks like a sales letter or specific content that is written to address the customer’s problem and get a response of your reader towards your brand or product.
Ad copy impels a massive impact on the conversion rate, sales, and profit. Selling your product online on Amazon is not easy, at that time Ad copy takes place.
You can underline the key benefits which customer could receive after acquiring the item. It also raises more traffic to sales and adds more value to the product.
There is one of the best tools named Sellerapp which helps you to find the best product to sell on Amazon. Using this tool, you can increase sales on Amazon and hunt for business activities daily.
There are two mains types of Ad copy.
Great Images gives the perfect impression of any product or brand. Selling your product on Amazon, you must have high-quality images, features, and benefits to attract your audience and turn them into your customers.
Jungle Scout App & Jungle Scout Pro Extension is the solution for Amazon products. It helps you to extract all the data of the product on Amazon. It also facilities you by providing photography for your product to attract your public audience.
There are other magnificent tools named Splitly which helps you to track Amazon’s best product images. Using this, you can improve your listing content, rank on a search engine, test prices, titles, images, and much more.
You are also able to add video, which shows how your product works and how customers take advantage of it. A powerful video copy emphasizes the individual verbalizing everything that would be included in the pattern of written copy.
When you’re striving to explain to the audience regarding your product, then you need to take care of words that you need to use.
The text should be concise, simple, and easy to understand. Every word should demonstrate the worth of the product to the audiences. The text drives the Amazon searcher directly towards your brand or product than rivals.
The text which you add in ad copy should match with the keywords that are crucial for the product, conversion rate, relevance, and clicks.
That’s why it’s important to have relevant keywords that closely relate to what the person is searching for,” says Macfarlane.
“Amazon wants your title to be short, descriptive and to the point, they do allow for between 150-250 characters”.
Examine the Competitor:
Each business faces competitors, which hold the same product by sharing the market pie with you. The customers might be spending more money on your competitor’s product.
So, if you crave to sell your product online using Amazon, then it’s imperative to analyze your competitors. There are a few questions you should know the answers to them.
- Who’s your competitor?
- What they are selling?
- Is your product different from rivals?
- Have you obtained information about their competitors?
- What strategies they’re using or working on?
Before offering a product or service to the target market, you need to find that if your product is similar to competitors then how you could attract the customers toward you than your rivals. So, you can urgency find the gaps in the competitor’s marketing strategies and try to fill up.
Competitive analysis or competitive research is a field of strategic research that specializes in the collection and review of information about rival firms. It’s an essential tactic for finding out what your competitors are doing and what kind of threat they present to your financial well-being.
Through competitor analysis, you can assemble valuable information about the competitor’s activities they are performing to get more prioritization and hold a stand in the market with a similar or unique product.
There are 5 incredible steps for competitive analysis by Dan Tighe, which helps you while developing the marketing strategies to convince the audience towards your product.
- Identify Your Top Ten Competitors
- Analyze and Compare Competitor Content
- Analyze Their SEO Structure
- Look at their Social Media Integration
- Identify Areas for Improvement
Have you heard that the price of the commodity is raise because the quality of the product is high?
Yes, the customers buy something expensive because it assures them that the quality of the product is superb than a cheap product.
Competitive pricing means setting the price of a related product, based on your competitor pricing in the market.
After entering the market, the seller always must have a glance at competitor pricing. If the product features are comparable to a rival, then the seller may set the price of the product relative to competitor pricing.
This is human nature when they look at the two same products in the market with the same attributes then they are more looking towards that seller whose pricing is less than others.
There are three things that the seller keeps in mind while setting the price of the product.
- If your product has unique features than competitors, then you can set the price above the commodity.
- Sometimes the seller has enough resources and doesn’t affect the cost of production after setting a low price, then it reveals that how sellers constructively develop their marketing strategies.
- When the product is relatable to a competitor, then the seller needs to focus on the product itself by advertising their product on Amazon and other social media channels.
Amazon’s pricing strategy is different from its competitors such as Walmart, Alibaba, eBay, and many more. Amazon usually doesn’t focus on its competitor because they viewed as creative in the market.
Currently, it has become easy for the seller to oversee the competitive prices using fancy tools. There is one of the most appealing tools named Pricefy.io, where you can monitor your competitor’s product price all over the world, currency, or marketplace, (Amazon, and eBay) regularly.
You can also monitor an e-commerce competitor directly, just using their store website URL.
Follow Rules and Regulations of Amazon
There are certain policies and agreements for the seller on Amazon which should b followed or otherwise you may lose the chance to sell the product on the Amazon marketplace.
Let’s talk about some essential policies on which Amazon holds dear.
Product and Listing Restrictions
Sellers need approval from Amazon to get listed or sell your product to the target audience all across the world. You can’t list the product which is assisting the violation of legal rules and regulations like drugs or contraband.
You can overview the product restriction before selling your product on Amazon which includes:
- Listing restrictions
- Trade control laws
- Prohibited product claims
The other policy is about product detail information which explains in detail which writing style you need to use to portray your product to the audience and influence the customers buying decision.
Amazon also mentions the rules which seller should apply in all products in the Amazon service.
There are some other policies for the seller if they want to obtain more ROI utilizing Amazon service to sell their product to the public.
- Prohibited Content
- Condition guidelines
- Drop Shipping Policy
- ASIN creation policy
- Supply Chain Standards
- Standards for Brands Selling in the Amazon Store
- Imaging and Video Services Terms and Conditions
- Japanese Consumption Tax
SEO is the process that gives you the ability to optimize or rank your website or web pages to appear on Google search engine.
The search engine helps you to get massive traffic and leads to your content, website, or pages. It also encourages more people to find the highest-ranking content by adding specific keywords.
If you want a product optimized for a specific keyword on Amazon then you need to ensure the following.
- A catchy title including your main keyword in a title.
- Product information and keywords which also greatly impact the positive and negative reviews about the product
- Add relevant multiple images for your product
Paul Skarie provides you with a proper guideline that helps you that how you can optimize listing on Amazon.
Let’s take an example for a better understanding of the science behind the ranking.
- If you search for the keyword “DJ Headphones” into the Amazon search bar, it will show you the following results.
- You will see that most of the products have the main keyword “DJ Headphones” in their title.
- We have selected the Greatest Stereo Headphones DJ Style Dynamic Sound. In the product description, the headphone keyword added multiple times which increases its ranking on the search engine.
- Relevant Images: For the above product, all of the images are related to Headphones. Amazon uses machine learning to detect the nature of the product.
Product promotion is a set of marketing activities intended to boost up the sales of product and services. It also informs the customers about the product quality aspects and influences the customer’s purchasing power.
There are several ways to promote your product to the target audiences.
Here are the best Five Ways to promote your Amazon listing introduced by Adam Zlotnik more comprehensively.
- Sponsored Ads & Promotions
- Social Media
- Build an Email List
- Deal Websites
Facebook Retargeting for Amazon Products
With the advancement of technology in the digital era, marketing tactics also grew which helps the marketers in numerous ways to target the audience on social media platforms.
Now it becomes more favorable for the Marketers to retarget the customers who have just visited your website but haven’t bought your product.
Retargeting is a significant move for the retailers to bring the customers towards your website repeatedly. There are multiple tools which help you to retarget the public by creating the campaigns or brand for selling the product or services.
Retargeting operates by appending a piece of code (usually called a pixel, such as the Facebook Pixel) to your website. When a visitor comes for the first time to your website, the pixel drop an unnamed browser cookie. It won’t affect the performance of the site.
The cookie helps you to find out that when serves ads to the customers as a retargeting provider, and your ad should serve to those who visit your website once.
There are two approaches that you can apply to plan Facebook retargeting for your Amazon business.
- Retarget your existing customers: You can retarget your audiences with the campaigns, ads of your product, who visit your website previously but haven’t performed any action.
- Retarget landing page visitors: If you want to attain traffic towards your brand from the outside of the Amazon to a landing page, then you need to place the retargeting code or pixel on your landing page. That will gives you the ability to retarget your visitors.
Replug is one of the best tools which constructs Retargeting pixels of social media platforms for your businesses in a simplistic way. You can also create a custom campaign and find insight to track the performance of the campaigns.
Attain the Buy box
Buy Box means having product detail information on Amazon where the customer can add the favorite items or product into the cart for purchasing the product.
After selecting a product, you can view the product detail page and buy a box on the right side of Amazon as shown in the image.
Not all sellers are eligible to win the buy box, its all depends on the seller, selling product history, quality, performance, and the benefits that customer receives after acquiring the product.
Lots of newbie seller comes with the unique product possessing better quality than rivals on Amazon market then they have a chance to get the buy box by adheres the Amazon certain standards. Some factors are included to attain the buy box.
- Order Defect Rate
- Performance metrics
- Customer service quality
- Length of time on Amazon
It would difficult for the seller to win the buy box for every product which they listed on Amazon. On the other end, it’s necessary to win the eligibility of buy box to endure hard against the competitors carrying a similar product and get more ROI.
Offer a discount is a very effective strategy to draw customers into your stores. Customers are continuously looking for ways to get discounts on different products and services. You can easily attract your customers to your brand by telling them how you can save your money.
So, if you want to increase sales, then you have a better option to offer a discount on Amazon to get informed of your customers and build a strong relationship with the shoppers.
Many blogs explain to you different strategies of offering a discount on the product and services to persuade the audience’s buying power.
One of the best blogs which I’ve not studied before is How to Use Discount Pricing Strategies to Make More Sales by Celine Roque. She describes the pros, cons, and types of Discount Strategies elegantly.
For instance, there is a seller who entered the Amazon marketplace. The seller represents their product and its essential detail to the target audience. They develop strategies to reach a pool of customers and establish the reputation of the brand. The strategies are:
- Initially, the seller offers a 50% discount on all items.
- After actively bringing customers towards their storehouse, they offer a 10% discount on 100 items and a 5% discount on 500 items.
Through these strategies, the seller would receive more profit, gain a market share, and receive feedback and review related to the product.
When selling products on Amazon, you should be focusing on providing better customer service to delight users. This can increase the positive reviews and feedback for your product.
Also, it is quite noticeable that running marketing campaigns on Facebook and other social media channels along with retargeting campaigns can dramatically increase your sales.
And while running campaigns, you can use Replug to retarget visitors whenever they click on your ad. If you have other advice from your personal experience, please do share.