Amazon’s revenue has exponentially grown from 1997 to 2018. What’s even more astounding is that the website has clearly not reached its peak, but is only expected to grow from here.
If you’re ready to grow your business, then there’s really no better place to turn than the world’s largest online retailer.
You can take advantage of positive customer reviews, two-day (or even two-hour) shipping, and a myriad of other tools the website offers.
Keep reading for 7 Amazon seller tips to help you grow your business and keep your customers happy.
Selling on Amazon
When you sell on Amazon, there are two routes you can choose from: an individual or professional plan.
If you expect to sell over 40 units a month as a business, you should consider their professional plan, which is $39.99 a month. There are also referral and closing fees that are deducted from your sales.
There are definitely perks to establishing a professional plan, including
Customizable shipping rates
Access to bulk listing and reporting tools
Ability to sell products in the U.S., Canada, and/or Mexico. You can pick and choose.
Can offer special promotions and gift-wrapping options to customers
Eligible for top placement on product pages
When your business joins the world’s largest online retailer, you know you’re on the right track. Amazon’s third party sellers broke records in 2016, and they actually sell more than 50% of the units offered on the website.
Here are a few other benefits of selling on Amazon.
Create a one-stop-shop for inventory tracking, credit card processing, and collection of sales tax
Increased credibility: online customers and brick and mortar stores will find your business more credible
Greater exposure to new customers
Data tracking tools: Amazon allows you to track sales, advertise, optimize listings, etc.
Amazon’s fulfillment centers make it easy for you to ship items quickly
Amazon’s platform is easy to use as both a customer and seller
7 Amazon Seller Tips
Amazon’s marketplace is rife with opportunities. Here are 7 tips to help you grow within the Amazon marketplace.
1. Aim for the Amazon Buy Box
Amazon sellers with the same product are at war to own the buy box.
But what is the buy box?
When you make a purchase and have the option to immediately add the item to a cart, you’ll see the buy box. What you’re less likely to see, are the other sellers also offering that item. Unless you specifically click to see the other sellers, you won’t know they exist.
That’s why owning the buy box is vital, it places you first in line when a customer wants to purchase the item.
2. Encourage Reviewers
If your product has been around for a long time and you are confident in the product, reach out to customers and encourage them to leave a review. You may offer a small token of appreciation for a review, such as a future discount.
However, if you want to receive feedback on a new release without risking low product reviews, you can reach out to the customer beyond Amazon (via text or address) asking for feedback by means other than on the Amazon platform.
3. Competitively Price Your Products
There’s no shortage of third party sellers on Amazon, which means you can expect some competition. Consider which of your products can be priced competitively, and which should stay firm in price because of higher expenses.
Your competition can also help influence this decision. If some of your products are more popular than others because of little competition, consider improving or upgrading those while the market is scarce.
If you’ve scrolled through Amazon searches, you’ll notice that sponsored products are always the first you see, and are often interspersed throughout the results. This means that shoppers see the sponsored products first and many other times, encouraging them to choose those.
But don’t limit your advertising to Amazon. Consider SEO content, writing blogs, and other paid ads to draw people to your Amazon listings.
5. Offer Discounts
By offering daily deals and other discounts, you will keep customers coming back to your page. Your products can also appear in Amazon’s “Hot Deals” categories.
For indecisive shoppers, consider sending a small discount for shoppers that leave your product in their cart for over 24 or 48 hours.
6. Fulfill Through Amazon
Amazon’s Fulfillment by Amazon (FBA) makes life much easier for sellers. Sellers that turn over a lot of product and do not want to invest in their own warehouses/shipping facilities can send their product to Amazon.
At these fulfillment centers, warehouse employees take care of packaging and shipping the products. As a seller, you are responsible only for storage and shipping costs.
7. Remember the Customers
Whether you are first joining Amazon or a seasoned seller, it’s important to remember the importance of customer satisfaction.
Handle customer complaints fairly, offering refunds and discounts if a customer is unsatisfied. This will not only appease a customer and improve their faith in your business, but may also encourage them to leave a positive review or give another one of your products a chance.
Many people filter their Amazon search results by customer ratings, so always strive to please customers and your business will experience the rewards from doing so.
If you’re looking to grow your business, selling on Amazon should definitely be a consideration. While they do charge fees depending on your selling plan, so many people use Amazon that avoiding the website can leave your company in the dark.
Above, we listed 7 Amazon seller tips to help you navigate the website and the world’s largest online retailer. But the research and planning shouldn’t stop with this article. For more articles on how to navigate the world of online retail and grow your business, visit our blog today.