Amazon is a major source of sales and revenues for many vendors. But to be successful in the online marketplace and compete with other brands and 3rd party sellers, vendors need a waterproof strategy for their Amazon business.
Apply our 5 steps to success for vendors to define best practices and grow your e-commerce business on Amazon:
1. Manage reviews to provide stellar customer service
No matter if you are doing business offline or online – taking care of the customer is important for encouraging repeat purchases and creating a positive brand image. You should reply to reviews and product questions within 24 hours.
And there is a bonus. Keeping track of reviews can help you with product development by telling you exactly what your customers dis/like about your products. It also gives you new inspiration for relevant keywords that you might be missing. Similarly, having an eye on the questions people ask helps you create better and higher converting product listings.
2. Optimize your product listings for higher ranking
Optimizing product listings for search and conversion is one of the most important parts of your Amazon strategy. Optimization is an easy way to (a) improve visibility through organic ranking and (b) drive conversion by providing appealing content.
Finding relevant keywords, writing effective product descriptions and adding engaging images are a good start to optimize your product listings on Amazon.
What is the biggest challenge you and your team face on Amazon?
3. Automate your AMS campaigns to meet advertising ROIs
Optimizing AMS campaigns for keywords and bids increases visibility, generates revenues and saves costs – all at the same time. Regularly optimizing your campaigns is crucial for AMS success. It does, however, take a lot of time and effort. By using automation, your bids and negative keywords are automatically adjusted and optimized to meet your advertising ROIs.
4. Monitor the Buy Box to remain in charge of your brand
As an Amazon vendor, staying on top of retail prices, product listings or who else sells your products can be hard — and the idea of losing control of your brand on Amazon is sobering. That’s why you need a strategy that minimizes these risks:
Tight control over all distribution channels: you need to know who is selling your stock and at what price.
Implement distribution agreements: monitor the distributors of your products to ensure they are sticking to the terms of their agreement
Monitor the Buy Box: understand who you are competing with and identify unauthorized sellers
5. Analyze your Sales Performance to make data-driven decisions
Just like for any business, understanding what drives your revenue and what impact your optimization efforts have is vital for improving your overall performance and profits. There are a few things your data can tell you about your business:
- Which products are performing well, why and where?
- Are your sales numbers reflecting your marketing efforts?
- Your sales on Amazon – how much inventory are you sending to Amazon, and how much are they selling?
- What are the sales trends over time for each ASIN, country, product group, brand etc.?
Once you interpret your data and have the answers to these questions, you can use these insights to make data-driven decisions that create real growth.
Vendor success on Amazon very much depends on these five pillars: managing reviews, optimizing content, running successful AMS campaigns, monitoring the competition and interpreting your sales data.
That’s a lot of fronts you have to cover, all at the same time. Our sales and marketing software can help you with that. The Sellics Vendor Edition is an all-in-one tool that includes a feature for each part of this Amazon strategy: review management, Content & SEO, AMS management, Buy Box Monitoring and Retail Analytics.