Eight Tips to Win Market Share

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While there can be an intensive competition, Amazon offers customer reach that you cannot imagine through any other marketplace. Here are 8 tips to make your business stand out and rise above the growing number of brands on this platform.

1.Sell unique products or product offering

Sell a Unique Product

It is increasingly becoming difficult to be found on Amazon. The goal of a seller is to sell something that no other seller is offering. The product should be differentiated from the others in the market: more features, better materials, a warranty or refund policy or an additional gift. A well-made, high quality product that provides value for a buyer can avoid the race as other sellers drop their prices.

If your product is a trending one, you should make sure make sure you have diversified the rest of your inventory. We suggest adding products that are timeless rather than seasonal. But if your business is focused on providing seasonal or trending products, you should be sure you’re offering a unique, rare option. Amazon’s latest marketing efforts, Storefronts and Launchpad, take this direction.

2.Register as a Prof-Seller and a Brand.

Register as a Prof-Seller

It is a non-stoppable battle to fight counterfeits and listing. One way to fight counterfeits and hijacking is through registering in Brand Registry.

Registering in Amazon’s Brand Registry gives you more opportunities to control your listing: you’ll be the only one, who makes changes to the title, bullet points, description, and search terms. If other sellers do begin ‘to work successfully’ on your listing, you can contact Amazon to solve the problem

You’ll also have  Enhanced Brand Content, which has already been a successful addition for many sellers. Enhanced Brand Content (EBC) helps brand owners to have a unique brand story, enhanced images, text placements, and  also videos to their product listings.

3.Price the products so you can create an adequate profit margin.

Price the products so you can create an adequate profit margin

Amazon is a wonderful marketplace for brands with unique products and adequate profit margins. Their referral fees vary  from category to category. While the average cost is about 15% of the sale price, fees can be as low as 6% (PC s) and as high as 45% (Amazon device accessories).

A great rule of thumb is to divide your listing price by three. Usually one third will go towards Amazon’s fees. The next third will go towards shipping and production, and the last third goes into your pocket. You should price your product accordingly when doing a research for a new product to sell.

4.Content and social marketing are very important to building traffic.

Content and social marketing are very important to building traffic

You should use social media and content marketing to boost sales to your Amazon listing. You can also make use of these channels when launching new products.

You should build content and campaigns around discounts or product giveaways that interest and engage your customers. Organic and sponsored social media campaigns can promote the traffic and brand awareness. Entertaining and informative blog content also can help keep an interested customer base and provide a captive audience for the products. The more sensible price you offer customers, the more willing they’ll be to buy from you later.

5.Reviews can make up or destroy your Amazon business.

Reviews can make up or destroy your Amazon business

Amazon takes into account reviews and ratings when deciding which sellers should appear on the first Amazon search results page. In addition to being sure you have a top-notch product, you should make sure you have responded to all customer questions as soon as possible, efficiently, and with a smile.

This is particularly necessary when handling returns. A complex return process is one of the ways of getting a negative review. You should make returns easy and treat all customer interactions as an opportunity for a five-star review.

6.Leverage trends for ongoing listing and advertising optimization.

Leverage trends for ongoing listing and advertising optimization

AmazVol has discovered that 30-50% of Amazon keywords change from month to month. Constantly revising the terms you use in your listings and ad campaigns can help you reach more customers.

Remember to spend your advertising dollars wisely. Do not try to outbid Nike! It isn’t a long-term strategy. You can instead dig into the AmazVol database and find long tail keywords that will suit your product. Though these keywords have lower search volumes, they can have higher conversion rates. Long tail keywords often have lower bid prices which give you the opportunity to maximize your advertising cost of sale.

7.Think of selling in a new marketplace.

Think of selling in a new marketplace

There is no a secret that Amazon wants to expand further into the EU, Japan, Canada, and Australia. By selling in other markets, you can broaden your customer base and market share.

First, you should do a research in the marketplace that you’re interested in and be sure that there’s a demand for your products.

Second, you should understand the tax and import system. Every country has a different tax code with its own rules and regulations. We advise you to consult an expert to be sure you meet the requirements.

Third, you should make sure you can deliver ideal customer service. Amazon has a requirement for sellers to provide listings and customer service in the local language. If you’re fulfilling through Amazon, they’ll assist with customer service, but if not, you should find a solution that works for you best.

8.Do not concentrate all your efforts in one area.

Do not concentrate all your efforts in one area

You should act with caution, think well, and divert some resources to your own branded retail website if you don’t have. While Amazon offers a wide-reaching customer base and distribution channel, success isn’t as easy and certainly not guaranteed as it may seem.

There is also a constant risk to be shut down for unpredictable reasons. So remember to maintain your presence elsewhere!

For the whole time being, Amazon gives new sellers, small and medium-sized entrepreneurs, and large brands to have access to hundreds of millions of shoppers.  Product diversity,  ease of shopping, and affordable pricing attract customers from all over the globe. With the right product and selling strategy, any Amazon seller can achieve a shopper’s attention.