how to win on amazon: grow your business in the ecommerce future
TRANSCRIPT
RETAIL AND ECOMMERCE ARE CONSTANTLY EVOLVING – AND AMAZON IS LEADING THE CHARGE.
WHILE DEPARTMENT STORES CLOSE LOCATIONS, ONLINE MARKETPLACES ARE HELPING BRANDS CLOSE MORE BUSINESS THAN EVER.
AMAZON IS AN UNMATCHED GROWTH OPPORTUNITY FOR EVERY COMPANY. IT’S ALSO HOME TO TWO MILLION SELLERS – ITSELF INCLUDED – SEEKING CUSTOMER ATTENTION.
FOLLOWING ARE THE STATS YOU NEED TO RISE ABOVE AMAZON MARKETPLACE COMPETITION – AND TIPS FOR PUTTING THEM INTO USE.
TO HELP YOUR AUDIENCE FIND YOUR BRAND, AMAZON IS THE SEARCH ENGINE DESERVING YOUR FOCUS.
begin the buyer’s journey on AMAZON.
44%OF CONSUMERS
180 AMAZON FULFILLMENT CENTERS EXIST IN THE U.S. TODAY – UP FROM 60 IN 2015.
77.5 MILLION PEOPLE LIVE IN ZIP CODES OFFERING SAME-DAY AMAZON DELIVERY.
RETAILERS’ SALES INCREASE BY 50% WHEN THEY SELL ON AMAZON.
The operational and logistics benefits of a Fulfillment by Amazon (FBA) label are nearly impossible to match.
FIVE KEY ELEMENTS DETERMINE YOUR RANKING IN AMAZON’S SEARCH ENGINE:
FULFILLMENT
PRICE
CONVERSION
REVIEWS
RELEVANCY
$1.5 BILLIONIN SALESGENERATEDIN 2015 FROMAMAZON SPONSORED PRODUCTS
HOW CAN YOUR BRAND TURN THOSE PRIORITIES INTO ECOMMERCE SUCCESS?
THE ANSWER IS THREE-FOLD:
Conversion rates determine your placement in Amazon search, so your product’s launch could make or break its future.
FOCUS ON QUALITY OVER QUANTITY.
CREATE PROFESSIONAL PRODUCT PAGES WITH TEXT AND IMAGES OPTIMIZED FOR HUMAN SHOPPERS.
(Keyword stuffing won’t help you here.)
Follow the performance feedback loop: launch, measure, optimize, repeat.
ALWAYS BE TESTING.
MONITORING PROFITABILITY, RETURN RATE, PRODUCT REVIEWS, SALES RANK AND DAYS OF INVENTORY HELPS YOU GET TO KNOW YOUR CUSTOMERS AND IMPROVE THE WAY YOU SELL.
(Spoiler alert: there’s no easy answer here.)
UNLOCK THE SECRET TO AMAZON SEO.
GET FAMILIAR WITH THE AMAZON SEARCH ALGORITHM’S TOP FACTORS:
FULFILLMENT TYPE (FULFILLMENT BY AMAZON), PRICE, CONVERSION RATES, CONTENT RELEVANCY, AND REVIEWS.
FOR EXAMPLE, A PRODUCT RECEIVING MORE THAN 50 REVIEWS TENDS TO LIFT ITS CONVERSION RATES BY 5%.
It’s valuable because more than 61% of consumers read online reviews before making a purchase.
INVEST IN SPONSORED PRODUCTS AND MEASURE YOUR SUCCESS BY YOUR ADVERTISING COST OF SALES (ACOS), IMPRESSIONS, UNIT ECONOMICS AND CONVERSIONS.
DATA-DRIVEN SALES AND ONLINE MARKETPLACES ARE THE FUTURE OF RETAIL.
AMAZON MAY BE KING, BUT OTHER HEAVYWEIGHTS ARE VYING FOR THE PRIZE.
The Walmart marketplace has 1,000 retailers, and Facebook and Pinterest may soon become ecommerce channels.
WHEN YOU LISTEN TO YOUR CUSTOMERS, ADAPT WITH TRENDS AND TEST YOUR RESULTS, YOU CAN EVOLVE WITH THE CHANGING INDUSTRY AND COME OUT ON TOP OF YOUR COMPETITORS.
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