October 26th, 2023
Amazon Marketing Strategy in 4 Steps
Amazon is continuously evolving, and 2023 ushered in many innovative new tools and technologies. The increasing popularity of AI, subscription services, and sustainable shopping indicates a significant shift in consumer behavior. For sellers, it is essential to track the trends and data from the last 12 months to prepare for a prosperous new year.
Selling on the world's #1 online shopping destination requires a strategic approach. With fierce competition vying for the top spot, it's important to leverage Amazon's unique tools and features to stay afloat and grow with the times. We’re here to guide you through four easy-to-follow steps to set up your 2023 Amazon marketing strategy. Let’s get started.
Start With Your Sales Funnel
Your sales funnel is the path shoppers take to becoming customers. While not all prospects make it to the purchase stage, developing a strong sales funnel strategy can increase your chances of snagging the sale.
Let’s explore the six sales funnel stages and discover effective strategies for engaging with potential customers at each step of their journey.
- Awareness: Prospective customers are learning about your products and brand, gathering information or trying to solve a problem. Demonstrate how you can help or improve their quality of life.
- Interest: Shoppers are actively seeking out additional info about you and your competitors. Showcase your brand's value and expertise to gently nudge them further down the funnel.
- Decision: As shoppers move towards making a purchase, they consider price, discounts, service, and selection. Engage shoppers with persuasive copy, promotions, social proof, and personalized marketing tactics.
- Action: These shoppers are prepared to make a purchase. Provide useful tips, training, and follow-up information that helps them feel confident and excited about their purchase.
- Retention: Now that you have a new customer, follow up, offer assistance, and ask for feedback to accumulate positive reviews and valuable word-of-mouth recommendations.
- Re-engagement: Prioritizing existing customers is crucial. Up-selling, cross-selling, and utilizing email marketing campaigns and special offers encourages repeat sales.
4 steps to Plan a Strong Amazon Marketing Strategy
1. Create Cutting-Edge Content
Consistently updating and upgrading your product pages with cutting-edge content is one of the most effective ways to boost sales and brand reputation. This not only gives shoppers the information they need to make an educated purchase, but also creates an enjoyable shopping experience with your brand.
Optimize product listings
Amazon listing optimization uses relevant keywords, strategic copy, and high-quality product images to address common customer inquiries, provide important information about your product’s features and benefits, and increase the number of reviews on your listing. Optimized listings rank higher, perform better, and generate more traffic and sales.
Craft compelling A+ Content
Sellers enrolled in the Amazon Brand Registry program can add A+ Content. This supplementary section replaces your plain text product description and engages shoppers with informative graphics, images, comparison charts, and copy. By improving the user experience with A+ Content, sellers can increase conversions and develop a competitive edge over other sellers.
Create a storefront that steals the spotlight
Amazon Stores are available to brand owners and vendors who sell on Amazon and are registered with the Amazon Brand Registry program. These immersive multi-page websites feature a unique URL and links that take shoppers directly to product pages. With an Amazon Store, business owners can add visually appealing multimedia, cross-sell, and create a fully branded shopping experience across their entire catalog. According to Amazon, stores with three or more pages have an 83% higher shopper dwell time and 32% higher attributed sales per visitor.
2. Build a Buzz-Worthy Presence
Fostering customer trust is crucial on Amazon. Word-of-mouth marketing is a key factor in 20-50% of all consumer decisions. While it may be challenging to stand out amid fierce competition, we’re here to break down the basics of building a buzz.
- Expand your arsenal of reviews
With new and stagnant products, it can be difficult to get the reviews you need to stimulate sales. To stack the odds in your favor, optimize product pages to improve the user experience, quickly address customer questions and feedback, and run exclusive promotions. Talk with your Amazon team about leveraging the Amazon Vine Program. With new, affordable pricing tiers available since October 2023, this can be a great way to boost credibility and build buzz in 2024.
- Build interest within influencers
Influencers are considered industry experts who promote, recommend, and review products. On the rise in 2023, the Amazon Influencer Program became a significant part of the Amazon Associates (affiliate) Program. Amazon partners with popular content creators, giving them the opportunity to earn affiliate commissions on each product sale. For sellers, working with influencers can significantly benefit sellers in building sales, establishing credibility, and enhancing brand reputation while expanding their reach to a wider audience of potential customers.
- Strategize and socialize
Connecting with prospects on social media has become a trendy avenue for many brands. Creating a strong social media marketing strategy can showcase your expertise, brand values, and unique voice. Create engaging interactive posts, promptly respond to comments, and add trending hashtags to your content. In today’s digital age, social media is a great way to reinforce your brand credibility and build customer trust.
3. Give Products a Push
Whether you’re trying to overcome stagnant sales or simply want to boost performance in 2024, giving your products a little push is critical to expanding your clientele. After determining your budget and goals for the coming year, work with your Amazon account manager to make the most of the tools and resources at your disposal.
- Leverage email marketing campaigns
Email marketing is an excellent way to connect with your customers and build strong relationships. In fact, 79% of marketers consider email marketing as one of their top three strategies.
Some tried-and-true tactics for Amazon sellers:
- Increase visibility and sales with Amazon's Review Automation tool
- Test multiple email campaign versions to identify the most effective one
- Build an off-Amazon subscriber list
- Offer discounts, promotions, and updates on new products
- Showcase your expertise with tips, tricks, and tutorials
- Optimize your PPC strategy
In today’s competitive landscape, sellers simply can’t afford to forgo advertising. With an average conversion rate of 9.89%, Amazon PPC is a fundamental component of any marketing strategy. Amazon offers a variety of options for sellers. Simply select a campaign tailored to your goals, set a budget that works for you, and pay only for the clicks your ads receive.
Let’s explore Amazon advertising options:
- Sponsored Product Ads
Promote individual products to boost visibility and sales.
- Sponsored Brand Ads
Showcase three of your products and your brand logo to drive brand awareness.
- Sponsored Brand Video Ads
Reach new customers and expand your audience with ads that appear on Amazon and outside markets, linking to your product detail page.
- Sponsored Display Ads
Target shoppers searching for similar products; these ads may be configured to reach audiences outside of Amazon.
- Sponsored Product Ads
- Target interested shoppers with DSP
Amazon Demand-Side-Platform allows enables advertisers in the US, UK, France, Italy, Spain, and Germany to buy and display ads across the web, both on Amazon and off. This valuable product push goes beyond basic targeting - it provides high-level shopper insights to better target ads to the best audience based on demographics, behaviors, and purchase history.
Some powerful DSP tactics include:
- Utilizing retargeting ads to effectively connect with and capture the attention of existing customers
- Targeting potential customers that meet predetermined criteria such as gender, age, lifestyle, purchasing patterns, and other relevant factors
- Employing conquest marketing strategies to actively engage with customers who may be currently shopping with competitors
4. Expand Your Opportunities
Don’t put all your eggs in one basket! While Amazon offers incredible opportunities for sellers, many brands achieve success by using multiple platforms simultaneously. While this may sound complicated, with the help of ecommerce experts, expanding on and beyond Amazon can help you reach a vast audience in 2024.
Are you set up for success on Amazon? By partnering with an Amazon consulting team, you can select inventory, fulfillment, and marketing methods that reduce costs, raise revenue, and improve the efficiency of your daily operations. Since Amazon is constantly growing and evolving, it is crucial to closely track customer trends, manage your brand reputation, and continuously optimize various aspects of your account. From ads to product listings and search engine optimization (SEO), it is essential to stay updated and closely monitor all accounts.
Walmart is the second largest ecommerce selling platform. As a household name, many shoppers visit this marketplace daily to buy all their essentials and explore new products. With no monthly or setup fees, Walmart is a budget-friendly choice for sellers who want to expand beyond Amazon. Plus, Walmart has less competition than Amazon, providing a great opportunity to establish yourself in the market. Partner with Walmart Marketplace consultants to ensure that your listings, ads, and fulfillment methods are profitable and customized for maximum impact on this unique platform.
If you want to reach your revenue goals for 2024, Shopify is a great place to start. Shopify has recruited over 4.4 million businesses from 175 countries due to its wide range of design options, marketing tools, and features. With the ability to support businesses of all sizes, the platform is renowned for its quick setup and more than 3,500 available add-ons that streamline and personalize the shopping experience. This means you can create a store that is truly unique no matter your location or product line. Partner with a full-service Shopify ecommerce consulting firm to set up, optimize, or customize a successful store in 2024.
Plan For a Profitable Year
Are you ready to sell more in 2024? If you’re not sure where to start or need help getting ready, our experts are here to help. As your partner in all things ecommerce, we work with you to develop a marketing plan tailored to your business and goals. Monitoring your accounts, identifying opportunities for growth, and optimizing for maximum impact is our area of expertise. We’re proud to say that after a decade of helping ecommerce businesses thrive, we’ve got an arsenal of tools and skills that can help you take your business to the next level.
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