Better Amazon Strategy Means More Profit
by David Allen
Are you selling on Amazon? If the answer is “no,” then you’re probably not a fan of revenue. If you’re selling on Amazon and not doing so with great success, then you’ve got room to improve. Amazon continues to grow, and more businesses are jumping in to sell on the largest eCommerce stage of them all. That’s because it’s a multi-billion-dollar platform with plenty of pie to go around.
Before you start (or continue) selling, take a moment and consider your current Amazon/marketplace strategy. Do you have tactics and milestones set to achieve sales goals?
Linking the Triangle has partnered with Riithink Digital Marketing to bring you several important Amazon selling tips to maximize your visibility and opportunity online.
1) Know where you stand. Market research is important. What is your COGS compared to your competition? How are your competitors doing on Amazon? Analyze the landscape before creating a plan of attack, then mobilize based on opportunity size.
2) Know your margins and price to sell. Amazon is an artificial intelligence platform powered by algorithms that determine if you will or will not win the buy box. You must enact strategies to win the product page and buyers alike.
3) Diversify your portfolio. If you’re selling exclusively through Amazon Vendor Central or FBA, you’re not maximizing your Amazon dollar. Sell to Amazon through VC, and also manage your own Seller Central account(s) to get the most from marketplace sales.
4) Marketing creates visibility. Don’t simply list your products … you have to market them to create velocity. Utilize Amazon’s marketing opportunities and be creative with your media buys to increase sales.
Are you looking to sell more on Amazon? Riithink is offering a free Amazon assessment! Visit http://www.riithink.com/amazon-reps for details or email us at email@example.com