In 2017, a lot of entrepreneurs will be choosing between Yahoo Commerce Central, Magento Commerce, Ebay and Amazon as platforms to sell their products. Many make it a full-time job, reaping steady rewards from buying and selling various things. Many businesses use these platforms to move products they also sell on their websites.
But it’s not always easy to stand out now that there are hundreds of thousands of sellers taking advantage of this market. On a major commerce platform, Amazon, selling your products successfully and marketing your online store is all about understanding marketing.
We will discuss how to market your products on Amazon specifically There’s more than $283,000 being spent every minute globally on this platform, and you can be a big part of that if you’re willing to put in the effort. Research from Amazon shows that when people sell and market their products in earnest, they see a 50 percent increase in their overall revenue from the venture.
Most sellers on Amazon aren’t expert marketers, but that doesn’t mean you can’t tap into this niche to get more potential from your selling platform. Here are some tips for better marketing your Amazon products.
An SEO Strategy matters a lot, even though your Amazon shop may not be accompanied by a website. Since most of your search will come from organic search terms, keywords are your best bet for attracting these searchers. The Amazon Keyword Tool is an excellent resource for helping you master SEO.
On Amazon, customer reviews are currency. Word of mouth marketing is by far the most effective form of advertising, and 88 percent of consumers say they trust online reviews, even if the review is from a stranger. Collect reviews for your products through any means possible.
Obviously, you can’t make a profit by giving away all of your merchandise, but you can attract buyers by throwing in free gifts with purchases. This is a great tactic if you’re competing closely with another seller who stocks the same products.
Use Social Media
Spread the virtual word about your online products. Though you don’t necessarily need a business page to market your store, you can share some of your more popular products with friends and family. Facebook also offers some excellent geo-targeted advertising features that would be especially useful in this scenario.
Get a Pro Merchant Subscription
Pro Merchant subscribers don’t pay-per-transaction fees. Instead, they pay $39.99 per month to list their products on Amazon. It’s a great way to save money on those transactional fees, particularly if you’re selling more than 100 products per month. It also comes with a whole host of reporting, selling, and formatting options that aren’t available to individual sellers. It’s a great way to boost revenue and improve the credibility of your selling platform when compared to the individual plan.
This is a service that comes with the Pro Merchant subscription, and it automatically updates inventory levels and product descriptions. Like the previous step, this isn’t an external marketing technique, but it does make your page look more professional and useful to Amazon customers.
Sometimes you have to spend money to make money. Amazon has a sponsored products option that lets you advertise above your competitors for a small fee. These products will show up primarily in the “recommended for you” section of the site and in exterior advertisements. Amazon monitors the search history of consumers on all their devices, which means your sponsored product advertisements will be put in front of people who are most likely to buy them.
Offer Coupons and Discounts
Aside from the convenience factor, people often shop on Amazon because it’s cheaper than other marketplaces. Offering special discounts and coupon codes to customers can be excellent conversion tools. It doesn’t hurt to cut into your profit margins a little every now and then to make a quality sale.
Price More Competitively
As mentioned in the previous tip, Amazon shoppers are always on the hunt for the best deal. You can’t price your products much higher than a competitor because customers are often out to find the best price.
Win the Buy Box
The “buy box” is a term used by Amazon sellers to describe how your product won out compared to the 30 other sellers featuring the same product. Pricing competitively is part of this, even if you only sell something for one cent cheaper than someone else. You can also gain this status by using Amazon Prime as your shipping option, developing an excellent seller rating, and raising shipping performance.