Amazon is not a get rich quick scheme. You need to do your research and understand the costs involved in order to plan a strategic and sustainable business model. That being said, it doesn’t mean that there is no money to be made.
Amazon Metrics: Make Them Work to Your Benefit
In order to succeed on Amazon you have to understand how their search engine works. Of course, Amazon isn’t going to give away all of their secrets, but we do know that Amazon utilizes these four direct factors to determine your rank:
This measures conversions. When assessing sales velocity, Amazon compares a seller’s velocity to that of its competitors for the same search terms. The seller with the higher sales velocity will almost always win out.
Text Match Relevancy
This assesses how well your content matches the keywords searched by consumers. The better your relevancy is, the better your ranking.
Amazon search algorithm not only accesses the most relevant and best-selling products but also the best price. Be careful though. You don’t want to lower your price below reasonable margins. Make sure you are selling the value of your products in your listings to justify the price.
Don’t run out of stock. You’ll disappoint the customer and Amazon. Monitor your inventory regularly.
To successfully sell on Amazon takes time, because in order for a product to sell, it needs to rank well. But for an item to rank well, it needs to sell. See the issue here? Sort of a double-edged sword. So, we suggest starting out by building your base (keep reading to learn more about what this looks like) to increase your chances to sell your product and thus improve your ranking.
Ready for Takeoff | Amazon Product Launch
There are five important steps to follow to make sure you cover your bases for your Amazon product launch. You need to create the base so everything can stand strong. We’re going to break down this five step approach into two sections, before launch (or the base of building your business on Amazon) and the actual launch.
Building Your Base
1. Know Your Competition
You always want to know what your competition is doing, so you can strive to do better than them. You’ll also want to know what they aren’t doing well, so you can fill the gap. This is an important part of launching your Amazon product. To be honest, it is something you should be consistently doing.
It is extremely helpful when you are setting up your product listings to research your competition and see what questions are being asked by shoppers. This will help to make sure you are being proactive and providing all the details buyers need to make a decision within your bullet points and description. If you need to expand on anything, you can do so within your A+ Content or Brand Store (both are explained in more detail below).
2. Create Informative and Compelling Content
We understand that you want to hit the ground running and sell, sell, sell. However, if you don’t properly brand your product and optimize your listing you're going to be wasting money.
People are visual. You have to account for the fact that people are shopping online so they can’t physically pick up and inspect your product. In order to give them the best shopping experience it’s import to:
Include high quality product photos and infographics
Showcase your product, identify the size and other key features that people are going to want to know about. Show your product in real life. For example, if you are selling a water bottle, then have a picture of it in someone's hand who’s going on a walk. This helps to answer the question about the size of the water bottle.
Quality is also important. Yes, anyone can take a picture with their cell phone and some of those pictures turn out okay. However, is that presenting your product in the best way possible? You have a few seconds to grab the shoppers attention after they type in their search query. Make sure you are setting a great first impression with high quality, professional images.
Write copy that is informative and answers any questions customers may have
You want to make sure you are speaking to your target audience and including important keywords, which will help you rank better within Amazon’s search algorithm.
There are four content areas within your listing that you’ll want to pay attention to. Your product title, bullet points, description and back-end keywords. You will also want to pay attention to Amazon’s copy guidelines and restrictions as they differ for each content area. Remember, the goal of your content is to educate consumers about your product while contributing to your Amazon search ranking. Try and avoid unnecessary fluff or information that is not relevant.
Once you’ve mastered the four main content components of your product listing you should look to add A+ Content and/or an Amazon Storefront. A+ Content allows you to add more imagery and choose from a wider range of formatting options so you can showcase your content more creatively. This helps to grab the shoppers attention and provide more valuable information about your products. In fact, A+ content is so effective, Amazon estimates that it can help boost sales by up to 10%!
An Amazon Storefront allows you to create a centralized brand hub for your Amazon products. It’s essentially a website hosted on Amazon. Amazon gives you the tools to make your storefront unique with drag and drop modules. These modules allow you to add valuable information, pictures and videos about your brand and products. Creating an Amazon Storefront helps to increase sales and drive customer loyalty.
Back your content with keywords
Back your content with keywords. Amazon’s SEO is an important component of your business - it pays to know how it works and use it to your advantage. Amazon’s algorithm is set to help the customer be connected to products they are actually searching for. So, when you are evaluating keywords as well as other components that help drive your sales rank, always have the customer in mind. If they can’t find you, they can’t buy from you. Also, if you are ranking for keywords that don’t relate to your product, you could be negatively affecting your sales rank by creating a low conversion rate.
Ready to Launch
3. Drive Traffic to your Amazon Product Listings
Your product is new to Amazon. You’ve done the work to get your listing prepared for your launch with quality images, informative copy and supportive keywords. You are now ready to drive more traffic to your products. The work you completed leading up to the Amazon product launch is helping your products grow and rank on Amazon organically. Now it’s time to add to those organic efforts.
In order to do that you’ll need to shift your focus from organic to paid advertising and utilize outside marketing efforts. Fortunately, Amazon has set up
their advertising to not be intrusive to shoppers. In fact, Amazon ads often don't feel like ads at all. They tend to blend in with other products in the organic search results. This in turn, helps advertisers gain more clicks and conversions.
Beyond advertising you can further drive traffic by utilizing social media channels like Facebook and Instagram, connecting with an influencer or using an email database, if you have one. In some cases it may even be beneficial to have a special offer to drum up interest. Just make sure your offer is following Amazon’s guidelines.
4. Get Honest, Real Reviews
Reviews help people decide if a product is right for them, however, getting reviews is not an easy task. Amazon launched a program to help new products generate real reviews: Amazon Vine Voice. This reviewer program is dedicated to helping sellers get reviews. The most trusted reviewers, based on their reviewer rank, are selected by Amazon to help generate reviews.
In order to participate there are some eligibility requirements and fees. You need to store and ship your products via FBA (Fulfillment by Amazon) and there are some fees associated with that. The reviewer count is limited to 30 and once your product reaches 30 reviews you have to seek additional reviews in other ways - but this does give you a great jump start. Learn more about the eligibility and other requirements for Amazon Vine Voice.
If you’d like a full rundown of how to get reviews, read the article we wrote that outlines best practices, what makes a good review, how to navigate a negative review and more: How to Get Amazon Reviews - The Right Way.
5. Monitor Your Account
You absolutely do not want to set up your account and leave it. You’ve optimized your account, but Amazon is constantly changing. You need to keep an eye on your metrics to ensure that everything is running smoothly and adjust components of your product listing accordingly. You should be looking at your conversions as well as your organic keyword rank regularly.
An Amazon product launch can be difficult, but it is not impossible. Everyone has to start somewhere. The key is to have a strategy to implement that helps you successfully launch and maintain growth for your business.
If you are excited to get your product launched on Amazon but unsure if you can handle everything on your own, contact our team of experts. We’ve been helping businesses, just like yours, get set up and running on Amazon for over 10 years. We know that each business is unique and we treat it as such creating a personalized plan.