Amazon is the #1 shopping app in the United States.
In February 2022 alone, the online retail giant attracted a staggering 2.2 billion visits. In fact, 89% of online shoppers say they’re more likely to buy their merchandise on Amazon than on other eCommerce platforms.
Keeping these stats in mind, it’s not surprising that Amazon has over 9 million sellers worldwide, of which 1.1 million are actively selling on the platform.
Indeed, the sheer number of Amazon sellers is overwhelming, so you need to be above average to rake in big bucks. Sounds intimidating? It shouldn’t.
We’ve rounded in the following tidbits to help you grow your Amazon profits and market share.
Invest in Amazon PPC Software
With so many sellers on Amazon, you’re up against stiff competition unless you have a super unique product. Therefore, it makes perfect sense to find a strategy to outperform your competitors.
Any serious seller on Amazon should consider advertising for their most relevant keyword — and that’s where Amazon PPC management software comes in.
For starters, PPC (pay-per-click) is an internet marketing strategy involving paying a predetermined fee every time a visitor clicks on your ad.
Managing Amazon PPC campaigns can be a tricky balancing act, especially if you’re doing it manually.
With a powerful PPC toolset, however, you can seamlessly manage, automate and monitor your PPC campaign 24/7.
Further, any PPC management software worth your attention should help you place the correct bid for your targeted keywords irrespective of what’s happening on the market.
Think of Amazon management software as a toolset to help you stay on top of your Amazon PPC campaign without spending too much time on the process.
With your Amazon PPC sorted, you can focus on other growth strategies like the one we’re about to highlight in our next point.
Get Quality Reviews
It doesn’t matter how many customer reviews you have. Get more.
The thing is.
When a potential customer isn’t sure about a product, the first thing they’ll fall back on is social proof. They’ll look around to see what other users have to say about the product.
A shopper is more likely to buy your merchandise if it has ten times more reviews than other similar products.
As a rule of thumb, make sure you build up positive reviews. Otherwise, many negative reviews will hurt your bottom line instead of bringing in more money.
Some ways to generate reviews include:
- Incentivize buyers to leave reviews through coupons, discounts, and rewards
- Follow up with buyers
- Contact shoppers who leave negative reviews
Optimize Your Product Listings for Amazon SEO
Amazon has an algorithm called A9.
The algorithm is simpler than Google’s, yet different regarding the ranking factors it utilizes.
Essentially, you need to consider the following three things when optimizing your Amazon product pages for Amazon SEO:
- Visibility
- Relevance
- Conversions
Simply put, you want to ensure prospective shoppers see, click and buy your product.
According to Amazon:
Potential customers must be able to find your merchandise before buying. These buyers use search to locate your product on Amazon.
A prospect will find your product by entering keywords that A9 will match against your product’s info — title, description, etc.
Factors like price, selection, the product’s availability, sales history, and text match determine which product appears where on a shopper’s search results.
So, providing relevance and comprehensive info for your product increases the item’s visibility and sales.
Some ways to optimize your product listing for Amazon SEO include:
- Optimizing your product’s tile by ensuring it contains elements like brand, color, size, key features, and so on
- Using and optimizing bullet points
- Creating product descriptions that tell a story
- Leveraging back end search terms
- Including the seller’s name
Think OUTSIDE Amazon to Boost Sales
You don’t have to rely exclusively on Amazon to generate sales.
Amazon sellers should leverage other strategies to grow sales and revenue, including content marketing, press releases, and influencer campaigns.
Sellers looking to generate more profit need to diversify their marketing methods to bring attention to their products.
You can, for instance, draw hundreds of potential buyers to your product pages or Amazon store by creating an active presence on Facebook groups, niche forum websites, and popular social media channels.
Sure, Amazon is a big deal.
On the flip side, it isn’t the most vendor-friendly eCommerce platform. Besides, the marketplace keeps making changes that aren’t necessarily in the seller’s best interests.
Resist the Urge to Compete on Price
You need to protect your Amazon business with a well-thought-out pricing plan.
So, try to set your campaigns such that you introduce a customer to a certain price when they first discover your product on Amazon.
Setting custom labels that tier your merchandise by prices and excluding as many SKUs as possible is a strategic way to keep third-party retailers from luring your customers with cheaper rates.
On top of that, it would be best to avoid bidding on products beyond a specific price point.
Instead of competing on price, focus on gaining positive reviews by answering questions potential customers and past buyers may have regarding your product.
Control Product Distribution
Amazon sellers that match their pricing with other channels and don’t have a multitude of unauthorized resellers competing for their merchandise have the best chance of increasing their market share and growing revenue.
These sellers can build momentum on the platform and leverage advertising to boost their products and increase visibility over time.
Further, if you’re looking to increase sales on Amazon, ensure you have the capacity and resources to handle additional orders.
Investing in an inventory management system, for instance, can help prevent overselling products. Order management software, on the other hand, can help ensure prompt deliveries.
In addition, you can partner with other brands and use Amazon as a platform for new offerings.
For instance, an apparel store can collaborate with smaller institutions like universities to offer branded merchandise on Amazon that shoppers can’t find anywhere.
Market on Amazon, the Amazon Way
Suppose your online store is your primary sales channel. In that case, you may consider segmenting your email list and visitors after a specific period — say 60 days after a prospect failed to buy from your store — and drive them to Amazon.
You will be surprised how many of these old leads that never bought from your store are willing to purchase your product on Amazon.
Here’s how to go about it:
- Send the customer an Amazon promotion
- Sync the prospect with a Facebook custom audience
- Then, drive the click to your items on Amazon
The Bottom Line
Increasing sales and market share on Amazon requires careful and strategic planning.
By learning the ropes of selling on Amazon, you can double or even triple your income in months. Evaluate your strategy from time to time to ensure you’re not relying on outdated tactics.
The tips above can help you get started. Happy selling.