8 Proven Strategies that will Boost Your Amazon Product Sales and Maximize ROI
For the past 25 years, Amazon has revolutionized the way people shop and has established itself as a dominant force in the eCommerce industry. With a massive customer base and relentless growth, Amazon continues to provide immense opportunities for sellers to expand their businesses and increase their sales. And we are with you, every step of the way!. We have used the opportunities for our clients numerous times. Here is what we have learned from our years of lifting businesses through e-commerce portals:
1. Establish a Solid Foundation:
Enhance SEO for Your Listings to attract customers and align with the Amazon SEO algorithm, optimize your product listings. Focus on keyword relevance and ensure accurate information regarding brand name, product features, material, color, and size. Professional product photography is crucial for captivating your audience and motivating them to make a purchase. Utilize high-quality images that highlight the unique selling points of your product, covering different angles to leave no room for customer imagination. Remember that optimizing your listings for both Amazon and Google can have a significant impact.
2. Embrace Multi-Channel Marketing for New Opportunities and Insights:
If you haven’t already, consider leveraging multiple channels to sell your products. Promote and sell your items across various platforms where your customers are present. Identifying the right customer touchpoints, such as mobile applications, social media platforms, or websites.. Don’t limit yourself to Amazon alone. Investing in the appropriate channels is fundamental to successful multi-channel marketing. You can approach each platform independently to maximize your reach and potential sales.
A few of the popular marketing platforms are:
- Amazon
- PPC Ads
- Your eCommerce store.
- Affiliate Marketing or guest posts on various blogs.
- Social media channels like Facebook, Twitter, and Instagram.
3. More Customer Reviews= More Sales:
Customers regard online reviews as equivalent to personal recommendations, granting them a high level of trustworthiness. Verified reviews enhance credibility. However, customers tend to be reluctant to leave reviews for online purchases. Leveraging review programs such as Amazon Vine or Early Reviewer Program can enhance your online sales. Seller feedback and product reviews have a positive impact on product rankings and, to some extent, influence Best Seller Rank (BSR). Constructive feedback aids in improving product performance. Therefore, automating review requests is recommended.
4. Use More Advertising Avenues:
To boost sales on Amazon, Sponsored Ads are highly effective. Amazon Advertising has gained significant importance. It is crucial to go beyond simple keyword optimization and develop a robust strategy to enhance your visibility on the platform. A successful seller achieves a fine equilibrium between automatic and manual campaigns by implementing diverse PPC strategies. When utilized correctly, Amazon advertising enables conversions at different stages of the sales funnel.
5. Amazon Customer Metrics
Customer satisfaction plays a vital role in driving business value. Amazon places great importance on customer communication and satisfaction metrics, aiming to create positive experiences for its customers. The Account Health section in your Amazon seller central account provides an overview of these metrics that require attention.
6. Order Defect Rate (ODR):
The ODR represents the number of defect orders (by Amazon) divided by the total number of orders received within a specified period. It reflects the number of customers who have had negative experiences with your product. Amazon considers guarantee claims, chargebacks, and negative feedback as defects. A high ODR can have a negative impact on your account health.
7. Pre-fulfillment Cancellation Rate:
The pre-fulfillment cancellation rate is the percentage of cancelled orders initiated by the seller before shipment confirmation. This usually occurs when the seller lacks sufficient inventory after a customer places an order. To avoid this, it is important to maintain adequate stock levels. Amazon recommends aiming for a cancellation rate of less than 2.5%.
8. Policy Violations:
Policy violations on your seller central account page indicate instances where you may have violated Amazon’s policies. This can be related to your item listing or the nature of the item itself. The policy violation metric provides details of unread performance notifications, with a green tick indicating no unread notifications, a yellow exclamation indicating unread notifications, and a red cross indicating the need to read performance notifications to protect your account health.
9. Late Shipment Rate:
The late shipment rate indicates the percentage of orders that have been dispatched late, typically defined as being overdue by three or more days. Amazon advises setting a target of less than 5% for this metric.
10. Buyer-Seller Contact Response Time (CRT):
The CRT metric measures the number of customer messages you have responded to within 24 hours. Maintaining a prompt response time is essential for good customer service.
11. Increase Business Value With Effective Inventory Management:
Effective inventory management plays a crucial role in boosting your organic ranking on Amazon. The significance of warehouse and inventory management has been increasing steadily over the past few years. Manual handling of these tasks is time-consuming and prone to errors. Automating these processes using suitable inventory management software is essential. By employing an effective inventory management system, you can enhance your operational efficiency and inventory management capabilities.
12. Comply with Amazon’s Rules and Terms of Service:
Account suspension poses a significant challenge for Amazon sellers. It is crucial to stay updated with Amazon’s terms of service and policies to maintain good account health and avoid suspensions.
13. Stay Competitive and Win the Buy Box:
Analyzing your competitors’ strategies and capitalizing on their weaknesses is essential to increase product sales on Amazon. In the face of increasing competition on the platform, maintaining a competitive edge can be quite challenging.While Amazon doesn’t disclose the exact metrics influencing the Buy Box eligibility, it takes into account factors such as seller feedback and product reviews, efficient and quick delivery, refund and return rates, inventory volume, and competitive pricing. Additionally, a seller’s sales history also influences their chances of winning the Buy Box.
Conclusion:
By focusing on these aspects, you can not only increase your sales on Amazon but also achieve customer satisfaction. Leveraging technology for business growth is crucial, particularly for small and medium-sized enterprises, as the e-commerce industry continues to evolve rapidly.