Amazon.com, over the past ten years or so, has truly emerged as the ultimate platform for small businesses to sell to a wide audience. The "Little guy", today can reach a global community of shoppers via Amazon. However, there are some challenges associated with selling on the site. These challenges will continue to grow as the site becomes more popular and as consumers become more aware of the sheer power afforded them by technology. With tools like the Amazon Echo, consumers can now tap into all available options right from the comfort of their living rooms.
Sellers, as a result, will have to get creative as heck if they intend to compete in this "Internet of things" age. The Average Amazon seller, today has to figure out how to plan and execute a strategy that fully encompasses a global pricing, marketing, and logistics infrastructure.
Below are three tips to help build an aggressive Amazon Strategy
1) Create a robust pricing model
One of the best features Amazon has to offer the shopper is the ability to show various prices for similar products. Amazon also provides the shopper with Various tools to help them compare prices. The company even offers a mobile app, Amazon Price Check, that allows customers to scan barcodes in stores to compare with availability on Amazon.com. With this in mind, plan and execute a pricing strategy that meets your business needs. The growth of internet-ready apps and various gadgets and gizmos make it very easy for shoppers to find the best price, whether online or in an actual store. You want to keep this in mind. If you operate a retail store, you are not only competing against the store down the street, you are also in a fight with various online retailers to win consumer dollars. It is important to keep all these factors in mind while generating your pricing model.
2) Reach out to Amazon Prime members
Fulfilled By Amazon (FBA) can help you reach a group of Amazon shoppers who are, well, Prime. These are folks who shop on the site all the time and have signed up for Amazon Prime. You can take advantage of Prime by allowing Amazon to store and ship your products to Amazon Prime members. You send your products to the Amazon warehouses, and Amazon ships to customers.
Amazon Prime offers members perks like FREE Two-Day Shipping for eligible purchases, unlimited streaming of movies and TV shows with Prime Video, and the ability to borrow books from the Kindle Owners' Lending Library. To most, these may not seem like significant perks. At least not enough to make anyone pay $99 a year or $10.99 a month, but considering the fact that about half of all American households have a Prime membership, getting your products in front of Prime members might be worth the investment.
3) Advertise your products on Amazon.com
Sellers have various features to help boost the visibility of their products on the site. One arena that allows for maximum visibility is Amazon's pay-per-click Advertising program. Sellers can set up self-serve ads which are targeted to customer search terms, products, or interests, helping the seller get discovered by customers right as they're shopping.
Amazon offers sellers various features within their Ad platform to help control the cost and effectiveness of their ads.
Only pay when someone clicks your ad - Choose how much you spend by deciding how much to bid for each click.
Optimize your ad performance - Once you’ve started a campaign you can try new keywords, adjust your budgets, and pause or restart at any time.
Monitor your success - End-to-end metrics help you fine-tune your ads to maximize sales and reach new customers.