Expanding your business onto Amazon can sound intimidating at first take; this is especially true now as Amazon holds the title of the largest company in the world valued at nearly $800 Billion. How do you know if you can succeed within the marketplace of Amazon or if this is the right move for your business? There are a few things to consider before making the leap and joining the ranks of Amazon.
Selling on Amazon is for anyone, so what sets you apart from the rest of the crowd?
How can you portray that story with a few Images, a handful of bullet points, and a short title? The ability to answer that question is key to your success on Amazon. Consumers come to Amazon with the intention of purchasing, and as a seller, your job is to give them all of the information they need to make that purchase. Your product detail page not only needs to answer their questions, but it needs to convince them that they will significantly benefit from owning your product. Once you figure that out, you’re going to build a strong consumer base and be able to expand your reach.
How do you expand your reach on Amazon, you ask?
One way is to begin advertising on Amazon and begin launching campaigns to promote the products you are selling. This is not a free service, so you and your team need to allocate a budget to this effort and monitor it closely. Start small and target consumers whom you think would be interested in your products. Amazon Marketing Services (AMS) is a great way to gather information about your target market by collecting this data on search terms and conversions. Once you establish a budget and monitor the performance for a few weeks, you can decide if your business is ready to expand by targeting other audiences outside of your proven market. As sales continue to grow, and data is collected, you will learn precisely where your business is positioned in the marketplace. You will now know the restraints or expand to new heights.
How are you going to manage your growing business?
Once you’ve got your feet wet and you begin to see sales come through your store, you have to decide how your product is going to be sent to your consumer. Is your product better to be Fulfilled by Amazon, or will you drop-ship each item independently? Deciding on this method also determines the amount of engagement your team will have with consumers. If you have a capable customer service team, you can manage your customer questions, returns, and overall satisfaction. If your bandwidth is short, and you need someone to handle these tasks for your team, you may consider FBA for a small fee. This team will also take the lead, generating positive reviews, which are vital to gaining credibility on Amazon. Consumers are more likely to convert and purchase your product when there are a large number of positive reviews. This does not come easy, as you will need to engage with your consumers who have purchased and hope that they take the time to leave a positive review. After a consumer goes a review, it is also important to thank them publicly on-site and affirm that you are appreciative of their business. Generating a relationship with consumers is highly valued and a large part of your success moving forward.
Is Selling on Amazon right for my business?
Hopefully, this sheds some light on a few items to consider when looking to sell on Amazon. Now that you have that small insight into what it takes, and can more carefully consider your next move for your business and it’s future.
We appreciate you taking the time to read our blog and hope you enjoyed learning about selling on Amazon. For questions or information about our e-commerce digital marketing services, please feel free to email us at email@example.com or fill out the form on the side of the past.
December 2020 | Colton Reed | AiCommerce