December 15, 2018 by Price-Fuel
You know that Amazon is a competitive market, and over the years the competition has only increased. So far, you’ve been able to stay ahead of the game by using your business skills and a tactical approach to the industry, and that’s great.
However, these days that just won’t be enough.
Amazon has completely changed what it means to compete to allow for a more level playing field for all involved, with new standards on how prices, business size, and more can affect your number of buyers.
If you aren’t keeping up with the new standards, you’re sure to lose your place at the top.
So what exactly are the new Amazon ranking standards that you should know? Read on and learn more.
As said earlier, Amazon has tried to make the competition between competitors on their site more fair to all involved.
Seeing as price is a big factor that determines whether a buyer will invest in a product or not, you can be sure that Amazon has made some drastic changes in concerns to how price will affect ranking.
Amazon has recently changed its algorithm, the A9, to reflect this.
The A9 is Amazon’s most recent algorithm tailored to the customer, which allows them to analyze each product in detail and make sure it best fits what the customer requested.
One of the key things factored into the algorithm is the cost of the product. In this day and age, everyone wants to have the best products for the lowest price, and this is something that’s factored in during the customer’s search.
The specific search of the customer could also affect the ranking of the items. For example, if the customer wanted to buy a luxury phone case, the cases that would show up for ranking would be more expensive than the average case.
This, of course, would cause two things to happen:
1) The prices of the products displayed would only slightly increase overall because of Amazon’s attempt at giving the customer the lowest price.
2) Though the overall prices won’t change for the customer, the type of products shown will. In other words, the order of the products will change according to the customer’s price range that they denote in their keyword search.
How does all of this affect you? Simple: your customers determine where you stand on the ranking list.
Unlike other search engines, where you have more control over how you rank thanks to things such as SEO and link usage, Amazon is a marketplace. Things such as your product description do little to change your ranking.
With that in mind, if your customers are looking for the lowest price on a product (and they almost always are) and your product’s price doesn’t reflect this, you won’t show up on their list of things to buy.
Furthermore, your competitors know about this, and they will change their prices accordingly to continue being on page one. In order to stay ahead of the game, you’ll have to do the same.
Of course, there are other factors that play into how your product ranks as well, and if you play the game well these can also help you secure your spot at the top.
Although cost is very important in sales, the Amazon ranking algorithm goes off of more than just the price of a product.
Like we mentioned earlier, the customers are the ones who affect the ranking of the product, and there are many ways that they can do this.
Though this new algorithm software goes off of many different factors, the two most important ones are performance ranking and relevancy. In other words, you not only have to be relevant to the buyer but have a ranking they can trust.
Both of these are entirely based off of how well the customers feel you’ve interacted with them, not off of keywords and persuasion methods.
Other factors that may cause your ranking to change would be customer satisfaction ratings. Of course, this is a challenging spot to work with, as we know that buyers are more likely to leave bad reviews than good ones.
One way around this is to ask for a review from every customer who buys one of your products. Of course, Amazon already sends out review forms via email, but many of these are either lost in the spam folder or simply aren’t filled out.
By personally sending out your own message of appreciation for buying the product, as well as asking for a good review to be left on your Amazon page, you’re more likely to get your buyers to review your product and build your rank.
Lastly, there’s the matter of sales ranking. The higher your sales ranking is on Amazon, the higher you’ll be on the search results list.
The great thing about sales ranking is that it works in a circular motion: the more you sale, the higher your ranking, and the higher you rank, the more you’ll sell.
For this reason, you’ll want to try hard work on your customer satisfaction, because an increase in satisfied customers means an increase in the number of sales – and that is what matters most for your business.
Knowing that you need to match the price of your competitors for a high Amazon ranking is one thing, but actually being able to change it in real time is another thing entirely. Luckily, you don’t have to worry about that.
At Price Fuel, we take care of your pricing for you, so you don’t have to. With our software, we’re able to automatically change the price of your Amazon products so you can keep a competitive edge and boost your marketing presence.
Make sure to also check out our blog. Here, you can learn more about how to manage your company and continue to be at the head of the pack.