Selling on Amazon is an excellent investment for small businesses to make more sales. Amazon has a large influx of traffic and is the most frequently utilized marketplace platform online.
However, listing your products and hoping for the best is not enough. To help you get more sales from Amazon, here are five strategies you can use to increase your chances of success.
1. Beat Competition With Pricing
The competition on Amazon is high, so you must look forward to being the most significant differentiator on the platform. What will set you apart from other Amazon sellers? Finding a competitive price is the answer.
Pricing is one way to determine which products are worth the promotion. As a result, your store will attract more customers and leave you with a robust profitability margin. However, it’s essential to remember that you must only sell items that will offer you a reasonable rate of return.
To find the most attractive pricing, here are a few tips to consider:
- Scour the competition and examine their prices.
- Use an accounting program to determine what prices will be most profitable.
- When determining a price, be sure to factor in inventory, order fulfillment, and overhead expenses. Dropping your prices too low can put your company at risk.
2. Optimize and Automate Product Listings
SEO (search engine optimization) is a core strategy for ranking in Amazon searches. To show up more often in search results, consider these two factors when creating a search phrase:
- Performance: How well have you done in the past? Improving the history of your sales can benefit your store in search rank results.
- Relevance: How relevant is your product to the search query? A fully descriptive product title and description field can improve your search results. Bullet points are also an excellent way to list key information and for customers to quickly digest the listing. Remember, individual keywords instead of phrases should apply to your products.
In addition to optimizing your SEO, consider automating your listings. Posting individual product listings can be time-consuming.
Instead of listing each product, automate your postings by utilizing the Amazon listing tool. This tool is beneficial for posting your products in bulk, which creates a more streamlined process for you.
3. Consider Fulfillment by Amazon
With FBA (Fulfillment by Amazon), you could have an increase in sales volume. FBA is an opportunity to send out inventory to Amazon, while they automatically fulfill your orders.
Once a customer completes a purchase, FBA will package and send it out for you. The only costs to you are for the storage of your inventory and shipping fees.
FBA doesn’t just fulfill orders through Amazon. You can also use FBA to fulfill orders via other sales channels. However, if you decide to do your own fulfillment, be mindful of Prime customers. They may not be too keen on buying your products and paying for shipment.
On a side note, be sure to use your data to improve sales and sell the best products for FBA.
4. Get More Reviews
Customer reviews are highly valuable and essential for making more sales. According to Qualtrics, 93% of customers read online reviews before making a purchase decision. Other studies show that products with more reviews can outperform products with fewer reviews with a slightly higher average rating.
The more credibility you build on Amazon, the more interest you’ll have from potential customers. To get more product reviews, brands should invest in an automated process to gather ratings. You can incorporate a solution such as Feedback Five to gain more feedback volume.
5. Advertise Through Amazon
When advertising on Amazon, you have a greater chance of customers noticing your products and increasing sales. Consider using Amazon’s Sponsored Products program to increase the visibility of your products. This program is a chance for sellers to pay for higher rankings in the search results.
Once you invest, Amazon will display your products in the search results and product detail pages. The costs work as a pay-per-click charge, which allows you to pay each time a user clicks on your listing.
The Amazon Affiliate Program is also another great way to advertise your products. This program enables you to make more sales when someone lists your product on their website. It benefits both you and the website owner because they promote your merchandise while they make a commission on each sale.
As an Amazon seller, you know that to make sales, there needs to be a strategy. With lots of patience, dedication, and adjustments, you’ll be able to start seeing results quickly. By applying these strategies alongside your commitment, you can leverage your competition and ultimately get more sales.