Amazon is a force to reckon with when it comes to the world of e-commerce. It is reported that over 197 million people worldwide visit Amazon.com with their devices monthly.
Amazon’s share in the e-commerce market of the United States got up to 49% in 2018. This value is more than the combined value of the three major competitors combined. eBay, Apple, and Walmart did 6.6%, 3.9%, and 3.7%, respectively.
It was also reported that over 5 billion products were shipped worldwide by Amazon in 2017. Amazon Prime has about 95 million registered members in the United States.
Fulfillment by Amazon helps product sellers increase sales by 30-50%. Every year, an Amazon Prime member makes a purchase of $1,400 on average.
As the leader of online sales, sellers on Amazon are already with the winning team. Amazon is an incredible sales platform and presents loads of opportunities for sellers.
You need to understand how Amazon ticks to maximize these opportunities and boost your income. Jungle scout, a research tool from Amazon, would also be of assistance. You can take a look at how does jungle scout works.
Tips That Would Help Boosting Your Sales On Amazon
From statistics, Amazon is the largest online sales platform with ready customers. Their large customer base presents potential customers for every seller. The fact that the competition is enormous could be a significant concern. Therefore, it is essential to stand out from the crowd. The following hints would help you increase your sales and, consequently, your income.
1. Consider Your Pricing
There are over 12 million products sold on Amazon. You can also find varying versions of a particular product from different producers and sellers. Therefore, one major thing a customer would consider is the price of a product from various sellers.
As a seller, the price of products from various sellers should also inform your decision. Your analysis should determine the products you would finally decide to promote on the platform. Choose products that can offer you enough returns to cover inventory cost, the fulfillment of your order, and your overhead expenses.
2. Make Your Listing Automatic
There are essential parts of the business, like marketing, engaging with your customers, and strategizing. Frequent product listing would take the time meant for other aspects of your business. It would also cost more money.
Hence, automating the process would save precious time and money. Amazon listing tools can help you get this done. You can list your product in bulk with these tools.
3. Use The Advantage of Amazon Pro Merchant Subscription
Do you want to sell lots of listings and save more money subscribing to Amazon Pro Merchant? Amazon Pro Merchant might be the extra leverage your need. With an extra cost of $0.99 for every transaction, you enjoy additional tools and other benefits.
Amazon Pro Merchant charges $39.99 monthly for all product listing on the platform and no fee for each item. This fixed fee per month means, the more you sell, the more you save. Even if you sell 11000 units of your product, the price remains the same.
Pro Merchant gives you the leverage to make bulk listings, improve reporting, offer more options, and make new listings.
4. Try Fulfillment By Amazon
Amazon FBA will help you increase sales volume. Many top Amazon sellers take advantage of the opportunities presented by the Fulfilled by Amazon program. You only need to send your product to the Amazon fulfillment center, and they do the rest. When there is an order for your products, Amazon packages, and ships the product to your customer.
You only need to pay for storage and fulfillment. When you consider the cost of storing, packaging and shipping yourself, Amazon FBA is considerably cheaper. Amazon FBA can also fulfill orders for your products on other sales channels. Ensure your products are carefully selected for profitability.
5. The Buy Box
Customers click on the buy box to indicate their interest in a product. The buy box is used to add products to the shopping cart. Winning the buy box increases your chances of making sales.
Amazon uses specific criteria to select a seller’s product that appears in the buy box. These criteria include product availability, price, seller’s performance, and the shipping options.
6. Increase Your Visibility With SEO
With so many sellers of the same item on the platform, being seen is vital. Amazon uses product title keywords in ranking your listing. Therefore, maximize the use of keywords related to your product. Amazon’s Keyword Tool would help you with this part.
7. Utilize Customer’s Positive Feedbacks
Most potential customers look out for reviews from individuals who had bought the product. About 90% of product buyers voice their trust for online reviews from other people. Most customers don’t leave reviews after purchasing a product. Feedback Five is one tool that can help you get more reviews.
8. Place Good Ads on Amazon
An ad can make your product known and more visible. If it is not seen, it is not sold. If you are starting on Amazon, you can consider sponsoring your product. It increases the visibility of your product. You also get an Amazon discount on your first sponsor.
9. Leverage On Other Sales Channel
Outside the large e-commerce marketplace, Amazon offers, there are other sales channels. You can pull people outside the Amazon community to your store on Amazon. You can use blogs, social media, or other online content to refer people to your store.
10. Play By The Rules
Amazon is an organized platform with rules guiding different activities. Following the rules would help you get the most out of your product sales business. You stand the risk of being suspended, or your account shuts down if you break the rules. There is safety for your business in following the rules.
You need to keep learning and stay at the top of your game. Keep improving on your listings. Increasing your sales is to work. It would be best if you put in the work to boost your wages as an Amazon seller.