With so many sellers in the market, getting a sale on Amazon is becoming increasingly difficult. There are a number of factors that influence a sale on Amazon sellers need the right formula to succeed. However, this does not happen most of the times and often sellers start resorting to unfair and shady practices outside legal boundaries. These practices are highly risky, and Amazon is constantly taking steps to stop such unfair and illegal practices. However, in order to get ahead, this week’s blog focuses on LEGAL tips and hacks that sellers could use in order to increase their sales and dominate the marketplace.
Complete Competitor Analysis
Sellers must have full knowledge about the competition in the marketplace they are about to enter. They must gather knowledge about who their top competitors are, why are they on top, read their reviews (negative to know their weaknesses), analyse their strategies, etc. Moreover, in order to get a better understanding, sellers should buy their competitor’s product to scrutinise the minute details which could be helpful in identifying their strengths and weaknesses.
Improving Review Rating
This is an important aspect as appearing in the buy box includes positive reviews as one of its factors. In general, products having a review rating of 90% and above usually take the buy box spot. So therefore, sellers should focus on selling high-quality products to sell and make sure that the products reach to them on time. However, even after this, sellers are bound receive negative reviews for their products. The way to go about this is by responding professionally and aiming to resolve the issue at the earliest. This would show that you actually care about the customers which could result in consumers choosing you over other sellers.
Narrowing your Niche
Sellers often make a mistake of trying to expand their reach by entering into multiple niches. This takes away the focus from the target and the product is not able to reach the target customers. Sellers should avoid this and focus on the top one-two niches. They should also have a target customer group and must position their product within the chosen niche.
Automation and Outsourcing
It is very common that one seller alone may not have all the skills in the bag to succeed on Amazon. Sellers thus, need to be smart with choosing what to automate and what to outsource. Expedited shipping, listing optimization, PPC management, and acquiring new consumers through numerous sales channels are frequently used as growth strategies for Amazon businesses. During your growing period, they require extra attention. You can, however, outsource activities that take up a lot of time or aren't likely to be your strong suit. Outsourcing them will save you time and effort while also increasing the productivity of your organisation.
Cost Management
Understanding all of the associated costs is the most effective strategy to maximise your Amazon income. If you sell under your own brand, your production, shipping, and marketing costs should generate profits after sales. If you're a retail arbitrage seller, on the other hand, your selling price should be able to cover all of your Amazon storage, selling, and referral costs. To stay profitable, you must also price strategically.
Keyword Research
This is probably the most important aspect of selling on Amazon. No seller on Amazon can ignore keywords as they are the building blocks of their product listings. Knowing keywords with high search volumes help in getting traffic and increase the chance of getting a sale. Successful sellers spend a lot of time in identifying and analysing the high ranked keywords.
With millions of merchants vying for the same buyers, it is a cutthroat world out there. Given the pressure, it's no wonder that many sellers have resorted to deception. However, as these 5 Amazon selling tips show, you don’t have to break the rules to get ahead.