Amazon has grown to become the top e-commerce platform with an active customer base of 310 million people. Over 197 million individuals around the globe visit Amazon.com every month. Luckily, these folks are super-satisfied with their shopping experience on Amazon, which is what enables Amazon to be the leader in online sales.
This information alone makes Amazon a marketplace that is worth tapping into. The only catch is that the broader its audience is, the greater the competition is. With an Amazon-based business though, you are free from the worries of logistics and product delivery. The e-commerce giant handles it for you, leaving you with more headspace to plan and execute your business’s growth.
To get you started, here are some tips which will help you grow your Amazon based business:
Select a product wisely
Selling takes more than just an idea of a product that may or may not appeal to the audience. You must be careful about balancing the fact that the product you sell has market demand and it has a unique selling point that helps it stand out as well.
In this regard, focus on selling products, which have a strong selling history. You will need to research the market and understand product anatomy before finalizing what you’d be offering to your audience. Here’s a detailed guide on product research and tools that can help you optimize your product idea wisely.
Sell at a higher average selling price
Amazon sells 12 million plus products. That doesn’t even include services, wine, books, and media. In the light of this mega number, your goal should be to sell high-value products, which you can sell at a high price.
In other words, aim for a higher average selling price such that your products’ average selling price is high so that you can make more profit by selling fewer goods. Thus, you don’t have to sell the bulk of low-value products in great quantity to make some substantial profit.
Keep in mind that such a price, which is higher than the average depends on how well your product appeals to its customers. Again, this brings us to the importance of market research as we discussed. What’s more, your product shouldn’t have any superior alternatives in the market.
Focus on customer experience
Customer experience is the key that would alone drive businesses to success by 2020, leaving behind differentiating factors such as product and pricing as well. The takeaway here is simple – improve your customer experience so much so that customers buzz about it, encouraging others to buy from you.
To this end, start with analyzing your competitors and their customer service, then target better customer experience. Not to forget, your customer experience must meet the standards that Amazon has set for its customers i.e. competitive pricing and Prime benefits. You can also consider an Amazon Sponsored Products campaign to get your offer to the right customers.
Pay attention to Amazon SEO
70% of the Amazon shoppers don’t go past the first search results page. So, it makes sense to get a listing on the first page to attract sales. This brings us to Amazon SEO services for your business growth.
The motive is to enhance product visibility by optimizing your listing. Here, you need to play around with the relevant keywords, weaving them into your content to improve click through and conversion rates. At the end of the day, Amazon SEO not only boosts your organic ranking but also the sales performance of your product listings.
Work on gathering good customer reviews
Closely connected with the previous two points is the need to get customer reviews. These are extremely crucial because the review system on Amazon is one of the key areas that help buyers make their buying decision. More often than not, 91% of people read online reviews to learn about the product and its quality before purchase.
Reviews’ importance is also what ups your ranking, helping boost Amazon SEO. Furthermore, it relates to customer experience as well. Therefore, your goal should be to use customer experience as a way to maximize positive reviews and minimize negative ones.
That said, a website is also a great tool to learn about customers and collect their data. Use their email address to share news about promotions, send out targeted campaigns, and announce the launch of your new products among other things.
Build a website
Lastly, work on erecting a website and driving traffic to it to grow your business. A website is the first step in increasing brand awareness. In fact, it’s the passage that will drive targeted traffic from itself to your store. As you pay attention to its SEO as well, you will rank higher on the search engine results pages, which will improve your visibility and traffic.
Put simply, growing your Amazon-based business is not hard. It only needs a well-knit strategy in place that covers goals such as improving customer experience, getting reviews, boosting SEO, and more as we discussed.