Let’s face it. Anyone can set up an Amazon seller account and start selling. Why else do nearly 3,000 business owners start their new Amazon business every single day? They have the product and now they are ready to take on the e-commerce world.
But, do you imagine these new e-commerce sellers know the perfect way to dominate the Amazon marketplace? What if you sell the exact same product as 10,000 other sellers on Amazon? How do you differentiate yourself from the competition, and make your products better known than the rest?
Setting up an Amazon seller account may be the easiest part, but Amazon as a whole is not a simple process. It is a glaring misconception that many new sellers face every day. DIY tools + self-serve information = easy to get started and focus on the wrong things.
You are not alone in this process, though. It all starts with your Amazon Marketing Strategy and 3 core elements to start selling more on Amazon.
What is the most important part of Amazon Marketing?
It shouldn’t come to a shock to anyone that the strategy is the most important part of Amazon Marketing. You cannot expect your products to sell if you haven’t laid out a plan to get your store up, running, and optimized. By doing the research and analyzing your options and Amazon store, you can REVERSE ENGINEER Amazon and get a rough estimate of what it will take to dominate it.
By conducting research & analysis, you can find out the following things for your Amazon Marketing Strategy:
- The keywords you should be trying to rank for and how much traffic they get
- Difficulty to get to the first page with your keywords
- The number of products you have to sell over a given period to get to the first page for your selected keywords
- A strong pricing strategy
- Projected sales & results you set as your business’s goals.
What happens once you’ve completed the research?
Once you’ve completed the meaningful research in your Amazon Marketing Strategy, many things about your business will become apparent. Your research should show:
- What keywords you are (and should be) targeting
- Where to focus your marketing efforts to get initial sales velocity
- How many sales you have to get over an 8-day period (best practice measurement) to hit #1 for those keywords
- What you are charging and your projected sales
- How competitive your product is and what its offer will be in the marketplace (and how that places into your overall positioning strategy)
- An idea of what will be your associated Advertising Cost of Sales (ACoS) and Blended ACoS will need to be
- And, the potential of the product!
Amazon represents 49% of all e-commerce sales and 46% of all product searches begin with Amazon. You want a strong strategy and optimized keywords to make your products part of that search.
What if you’ve already set up your Amazon Account?
If you have already been selling on Amazon, there are three major things you need to focus on to start more meaningful marketing:
- Where you need to optimize:
- There are many ways to improve, but the most important sections are your keywords and how much you are charging vs. how much you want to make.
- What areas you should focus on first for the biggest ROI:
- Could it already be part of your current product line? Could it be part of something new you would like to introduce?
- Your Key Performance Indicators (KPI):
- If you don’t already know, Amazon and Amazon software tools don’t give you the KPIs you need to know.
- For example, while Unit Session Percentage may tell you how you’re converting on the aggregate for your product, it’s actually a useless KPI to follow inside of Amazon – what matters more is how you convert on each search term. It’s best not to be seduced into focusing on ACoS until you review your blended ACoS (ad spend / topline) first.
The 3 Core Elements to Selling More on Amazon
Now that you have started your Amazon seller account, opened your store, and have done the research in your Amazon Marketing Strategy to dominate in the marketplace, how do we make all that knowledge meaningful? It’s the other simple step in this entire process, and if you have done your homework right, you can start marketing your store with significant results.
Search Engine Optimization (SEO)
Just like Google, Amazon also has its own algorithm to put products above the rest in first-page displays. It is the first obstacle you want to conquer to put your business above the rest on Amazon.
This element includes:
- Keyword Prioritization
- Backend Search Terms and Indexable Attributes
- Keyword Optimized Title, Key Product Features, Product Descriptions, and Image Alt Tags
- Amazon Storefront Development
Pro Tip: It’s no longer about keyword stuffing words and descriptors that might not be relevant to the actual product. Be ruthless in removing words that aren’t relevant and only focus on a handful of highly strategic keywords to optimize around.
Organic search is not the only way Amazon judges first-page results. Amazon also harbors its own world of PPC, offering the best positions to the products with the best bids and quality scores.
This element includes:
- Sponsored Products
- Headline Search Ads
- PPC Optimization
- Negative Keywords
- New Profitable Keyword Discovery
- Keyword-Level Bid Adjustment
- Split Testing
- Performance Reporting and Analysis
Pro Tip: Segmentation is the name of the game and using segmentation levers like match type, bids, campaign, and ad group structures are crucial. There’s far more to it than a simple “1 Auto, 1 Manual” setup.
Conversion Rate Optimization (CRO)
For Amazon, CRO translates to improving your product listing for greater conversions (more sales), and of course, more profit. Any improvements that you can make to your sales and conversion rate will help to improve your rank (Best Seller’s Rank), and more sales through the door increase your chances of building up reviews.
This element includes:
- Image & Title optimization
- Compelling product listing copy
- Amazon product organization and structure
- Review aggregation and optimization
- Enhanced Brand Content Development
Pro Tip: It’s essential to thinking strategically about how your graphics are helping you to sell the product to a consumer on the other side. If there’s not a clear message that you’re able to convey, you’re wasting a “prime” opportunity (pun intended).
So… Why is all this important?
Selling Velocity and Rank!
The more you sell on Amazon the higher you will rank for your product listings. By creating a strong Amazon Marketing Strategy and focusing the core elements on Amazon, you will hold your sales velocity, your rank, and make more each month.
There is no better time than now to begin utilizing Amazon’s capabilities and opportunities. All you need is a strong strategy, meaningful research, and utilizing the 3 core elements of selling more of your great products on Amazon.
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