Independent sellers are becoming more popular on the growing Amazon marketplace, making it increasingly competitive to double your sales on Amazon this holiday season 2019.
New or long-time seller, Amazon is an e-commerce giant with incredible discoverability, if you know how to market right. The trick, if you want to double your sales on Amazon this holiday season, lies primarily in marketing strategies and Amazon promotions. Here’s why:
Get The Amazon’s Choice & Best Seller Badges
Amazon’s Choice started as a way to make voice-driven Echo purchases easier, but has expanded other commonly searched searched items, too. It’s a way to cut through some of the noise of the sheer amount of choice out there and help consumers choose an item, an intimidating process when buying online and not being able to thoroughly assess the quality.
- Use optimized keywords to show up more (couch vs sofa, hair tie vs ponytail, backpack vs book bag, tennis shoe vs sneaker)
- Maintain high customer reviews and low product returns
- Must be Prime eligible, available to ship immediately and in-stock
- Offer great pricing by monitoring competitors with a repricing tool
- For the Best Seller badge, you must sell the greatest number of products within your category over a duration that Amazon does not specify publicly. Badges are updated hourly and it does not matter if you are using FBA or not.
Participate In Amazon Programs
In such a competitive space, Amazon has tight deadlines for their programs, such as “Lightning Deals” and “Deal of the Day” during the holidays as well as other Amazon advertising programs. Deadlines are typically in September, which means your business needs to have inventory ready and a marketing strategy in place way ahead of time. Amazon sells more than 12 million products, not including books, media, wine and services. When Amazon Marketplace sellers are factored in, the total product count rockets to more than 353 million. Looking at those numbers, participating in a promotion to boost discoverability and get on a category’s front page is a must.
Influencer & Micro-Influencer Shout Outs
If Amazon isn’t your only platform to sell on, multi-channel traffic is crucial. Users of Instagram, Facebook, Facebook messenger, Twitter, Snapchat etc., will already have feeds clogged with ads, so much so that your promoted post might go unnoticed. To reach audiences with a more authentic reach, try an influencer marketing approach. Influencers with hundreds of thousands of followers can be pretty costly, so micro-influencers, who also typically have better engagement rates, can also help expand your brand awareness.
Make Shipping A Priority
Amazon is big on shipping efficiencies and uses historical data as well as predictive algorithms to rate vendors in their search engine. Many vendors choose fulfillment by Amazon to send their inventory to an Amazon warehouse and not have to worry about shipping themselves. However, Amazon charges long-term storage fees for excess inventory, so if your sales projections are off you may end up paying extra. Regardless, both Amazon and consumers want to see the fastest shipping possible.
Optimize SEO & Use Other Sources Of Traffic
Being that Amazon is its own search engine, optimizing on SEO is a must, both on the platform and the larger web. Optimize your descriptions and titles for keywords, search phrases and micro moments. If you have your own business website in addition to Amazon, directing traffic to that site can help boost sales as well. One way to do this is by offering coupon codes and promotions on sites like Groupon and Honey. It’s the holidays and everyone is looking for a deal. Having a sale will increase your traffic and purchases, increasing your ranking overall.
Track Competitor Prices
Don’t have a repricing tool? You are missing out on boosting your discoverability with competitive pricing! Competitor prices are constantly changing, making it a challenge to keep up and reflect in your own pricing. Instead of changing the price manually, you can rely on repricing tools based on Amazon pricing strategy to get things done automatically. There are dozens of repricing tools available that will work with your own margins and profit goals, inventory, and competitor pricing.
Other tips to double your Amazon sales this holiday season:
- Concentrate on the listings that provide the highest return for your efforts/ the highest profit margins.
- Your inventory should arrive no later than the second week of October to allow for plenty of stock during a surge and time to restock.
- Utilize Amazon Brand Analytics for current and historical data for Amazon’s entire Marketplace.
- Reference last year’s ACoS – advertising cost of sales – to drive traffic, but be mindful that holiday advertising is more costly than during the rest of the year.
- Black Friday, Cyber Monday, and other holiday deals are enticing, but are they right for the category of the products you are selling?
- Advertise for your Amazon marketplace on non-amazon platforms to save advertising money.
- Create holiday-specific campaigns and A/B testing to encourage gifting inspiration.
- Advertise your storefront and brand, not just products, to increase selling multiple items to one shopper in one transaction.
- Get familiar with other Amazon perks such as Amazon launchpad and other small business-friendly pages.
Holiday shopping is right around the corner. If you haven’t started preparing for a spike in sales, now is the time to get to it! No other quarter provides an opportunity to double your Amazon sales this holiday season like Q4.