December 15, 2018 by Price-Fuel
Planning to sell on Amazon? Did you already start but continue to struggle with sales?
There’s no denying that selling in Amazon can reach competitive heights with the convenience it offers. That also means you’re not the only one trying to reach Amazon’s market.
In fact, there are about 1,761,784 sellers on Amazon that have their products listed for sale. With each passing day, more sellers join to crowd the market even further.
With that amount of sellers, you have a tough road ahead. No matter what you sell, it’ll be difficult to boost your Amazon sales and rank higher on the search results.
How will you compete against a million or so sellers with your products?
The following pointers are some tips that can help you with the upcoming year. These strategies can you gain both the top search result, customers, and maximize profit on your private label on Amazon:
One way to improve your Amazon sales is to understand the A10 algorithm. This recently revealed algorithm allows Amazon to track consumer behavior.
Amazon uses this formula to provide accurate product suggestions for the customer.
The more a product sells and attracts positive reviews, the more Amazon will suggest it to customers viewing similar items. The algorithm focuses on showing off highly recommended items to site visitors browsing for a specific type of product.
One thing to take note, on the other hand, would be the tactic for using PPC (pay-per-click). With the A10 Algorithm in place, PPC may not be as helpful as expected in getting more sales for your products.
However, there is a way to boost your sales and use the algorithm to your advantage.
Your solution is to use external links. With other websites linking to your Amazon product listings, people are going to buy your product. This will cause your Amazon rankings to have a drastic increase and it will improve your rating for the A10 algorithm.
The dynamic changes in the economy and materials are on the global scale. You need to know when you should make changes to your product pricing. This counts particularly when you need to make a bump on the price tags.
But when it comes to pricing on Amazon, you need a solid strategy to make this profitable for you. You need to know the price ranges, from the Amazon base price to the upper floor price. From there, make sure your pricing is stable and within that range.
First, the Amazon base or floor price. To calculate this, consider these factors:
Note: Amazon keeps 20% of original commission as return fee.
As for the upper floor price, this is where Amazon comes in. Amazon allows customers to price match. If they can find a product on another site but at a lower price, they’ll shoot down their price to match it. This ensures customers still purchase on Amazon instead of somewhere else, like BestBuy or Walmart.
The key here is to have a consistent pricing scheme. To help you with this, consider giving this guide a look.
Another sure way to increase your Amazon sales rank is to have multiple positive reviews.
Remember to encourage your customers to leave a review on the products you offer. Get as many as you can as this will help you in bringing your products up to page one of the search results.
Good reviews about what you sell on Amazon is a testament to the quality of the product offered and the customer service provided. These will also show other customers to try out your products and buy. As mentioned, reviews also boost your chances with Amazon’s suggestion algorithm.
Also, when getting reviews, make sure you don’t cheat. Don’t buy reviews or bribe customers for them. Amazon can and will catch you.
The consequences may ruin your business. Instead, focusing on providing a consistent and excellent customer service is a sure way to boost your ranks.
Aside from the rankings, you also need a specific basis to gauge your product’s success.
Start by checking which products sell the most and which ones don’t. That’s a visible metric; it lets you know which products to boost your marketing budget on because you’re now sure they’ll sell.
You also need to look at click-through rates. You might have a product that people click to view but very few proceed to buy. This means a lot of people show interest but there’s something preventing them from pushing forward – it could be the product price, shipping conditions, or reviews.
One last metric to study constantly your Amazon star rating. How many people leave star ratings and how many of these are above 3 stars?
With Amazon’s A10 algorithm in place, you need to find ways to ensure your customers can find your products. Aside from having product reviews, remember to practice SEO strategies.
Remember that Amazon is both a marketplace and a search engine. With that in mind, optimize your listings with high-quality images of the product. Include the detailed descriptions of the product, including the specifications.
Pay attention to the keywords you use. Make use of long-tail keywords for a more focused tagging. This way, you can have a niche for your products, minimizing your competition in the process.
To get ahead with the rankings for your Amazon sales, these ideas should help you plan your strategies with your Amazon product listings. From the right price, product quality, to an excellent customer service.
To help you with this, we offer services that help you in managing your prices to provide maximum profit for your Amazon private label business. Click here to try it out for free.