If you’re an Amazon seller, 2023 seems like a rough year for you. For the simple reason that Amazon’s market is becoming flooded. And old school techniques are useless in today’s market, where Amazon is expanding frantically each day. Every other seller is also stressed in their search for 2023-modern Amazon selling tips.
If you are having this kind of trouble, we feel it is our responsibility to inform you of the strategies that have proven successful with our products in the past. After all, we’re just like any other Amazon advertising agency out there—we want to help our customers out.
So, by 2023, there should be a lot of top selling strategies that look to be effective for eComFist‘s products. And we’re excited to share them with you all. Therefore, let us begin.
1-Thorough market and product research
Believe it or not, this is where you’ll find the “key differentiator” that sets your product apart from the rest. If you make it past this point, you have won. Since all the Amazon sellers I am aware of take a long time—over a year—merely to find the product, analyze the industry, and figure out how a product can be enhanced or how to build a completely new product from the start by seeing the actual demands of the clients.
Take Travis Mirziani, who worked with eComFist for a while. His “Performance Nut Butter” was an innovative new concept. The product in question is an all-inclusive ketogenic diet designed to enhance athletic performance. It’s unlike any other nut butter on the market because it’s made entirely from natural ingredients.
The fact that he spent so much time researching the market is remarkable. He saw that his competitors were selling butter made with less-than-fresh ingredients. Furthermore, the combination of components wasn’t tuned to maximize performance at peak conditions. After compiling the relevant information, he launched a performance nut butter that meets the needs of customers. And with this one Amazon product, he’s made almost $1,300,000.
2-Monitor competitors activity and pricing via modern techniques
Truth be told, you’re not making any good profit until you beat the competition – especially in private labeling.
Let’s say your product is better than that of your competitors. Exactly how could you do that? The obvious place to start is by researching the products that your competitors are selling and seeing if there are any common complaints from customers. You cannot make the improvement in the first place if you don’t undertake competitive analysis, and even if you do, your product improvement is ineffective.
Prior to a product’s launch
Think carefully about the following question regarding competitors’ products before launching your own:
- What are consumers saying about these products?
- Which of the top three features make people like this product?
- What are the top three factors that prevent customers from liking this product?
- When customers are talking about a product listing, what kind of details are they seeking?
- Does a competitor’s product fall short of meeting some customers’ needs?
After product launch
Follow the following steps to track the performance of competing products after your product launch:
- Use the data provided by Amazon’s seller central to analyze your competition’s pricing and sales volume.
- Learn about the competition’s prices, marketing approaches, and improvements to the product by doing some manual legwork.
- Join your competitor’s mailing lists to be aware of their newest offers and pricing strategies.
- In order to measure customer mood and understand your competition’s marketing techniques, it is a good idea to follow your competitors on social media and monitor their product ratings.
While keeping an eye on the competition is crucial, remember that you have your own budget. Don’t go too much into their prices, profits, or marketing techniques. Overreacting to the moves of competitors can result in outcomes that may not be sustainable in the long run. Maintaining both competitiveness and profitability is crucial for any firm.
3-Boost Amazon sales with broad keyword targeting
What does it mean to use broad keyword targeting? After you’ve narrowed down your product options, you’ll need to do extensive keyword research to ensure you can outrank the competition for all of the keywords you’ve discovered.
In the face of competition from best-selling products, established brands with thousands of customer reviews, products with fewer than 150 keywords stand little chance of success.
However, there are more opportunities for products with a large number of keywords to dive in and secure the sale.
What should we do then? We use software called Jungle Scout or Helium 10 to conduct a reverse ASIN search for each of your competitors’ product listings.
To use Keyword Scout or Helium 10, all you need to do is look up the ASIN of a competing product and enter it. The next step is to strengthen the data you’ve gathered about the keywords’ rankings to find out how your competitors are faring in search engine results.
You wouldn’t believe how badly some major Amazon merchants are performing in terms of ranking on very important keywords. They have completely ignored them.
Regardless of how many positive reviews you may have (though these reviews will help), the window of opportunity opened up by their negligence is wide open for you to seize.
Finding the right keywords is not a craft best left to beginners. For this reason, investing in an Amazon SEO service will pay off in the long run.
4-Find right supplier to strike the right balance
When looking for a supplier for your Amazon FBA business, it’s important to ask questions and make comparisons. You might ask suppliers the following questions.
- Time required for product delivery
- How they keep tabs on mail
- Mode of transport (i.e., the name of the shipping firm employed)
- Policy on Returning Items
- Insurance policy declaration of liability
- What are the consequences if I do not receive the product?
- Standardized paperwork and necessary product certifications
- testimonials from customers who have benefited from their expertise
If you don’t want your supplier to meet the aforementioned requirements, you will run into problems with your inventory, awkward quality issues, strange pricing, shady communication practices, and support curses, among other issues.
A point worth remembering
Let’s be honest: every business out there is trying to find ways to reduce expenses and increase profits. Amazon fees and manufacturing costs are typical ongoing expenses. It’s difficult for you to find ways to cut costs. There is no way to reduce Amazon’s costs, especially Amazon FBA and commission fees.
However, you can bargain for the best price with your supplier. What matters most is how well you negotiate. Use this opportunity to your fullest potential.
5-Harness the power of influencer marketing
Customers are more inclined to make a purchase from a reputable source, such as a well-known company or a friend’s personal recommendation. Because of this, influencer marketing is a fantastic tool for Amazon sellers looking to increase their revenue.
If somebody you know and rely on reviews your product and advertises it to their followers (who are likely to be interested in the same kinds of things), you reach an audience of potential customers you might not have been able to attract alone.
That’s why, to get your product to the attention of these interested consumers, you might reach out to influencers in the same industry. Try Facebook, Instagram, or even their blog to get in touch with them right away.
If you’re selling cosmetics, you should reach out to makeup artists and those who write about and promote cosmetics online. Request their willingness to perform a demo. And if they’re satisfied with your products, they’ll tell their followers about them.
However, these influencers typically charge flat fees for this service, so plan accordingly. But there are certain influencers who will promote your product without payment if you provide it to them for free.
However, everything is negotiable in the end. The best approach to negotiating a price for this form of advertising is to talk to influencers in person.
6-Enhance product visibility with sponsored ads
Most sellers on Amazon don’t bother with Amazon ads since they already get enough business from other channels (their own websites, influencers, social media campaigns, etc.). You could say that bringing sales to places other than Amazon is one approach, and using Amazon ads is another. But ignoring any of the strategies is crazy behavior.
Even though social media and influencers can help an Amazon seller reach a certain demographic and boost their brand’s visibility and credibility, one should not rely on just one kind of advertising.
For this reason, it may be best to employ a multi-pronged approach to marketing. Having all your marketing eggs in one basket is dangerous; spreading them out can help you avoid disaster.
Thus, it is advisable to make use of sponsored product ads first, while also playing around with the appropriate keywords. After that, proceed to the sponsored video, sponsored display, and sponsored brand advertisements.
7-Don’t ignore your social media presence
Social media platforms like Instagram and TikTok have developed into excellent places for online retailers to reach their target audience.
Instagram feeds and story advertising can be used to promote your best-selling Amazon products to your target audience. In addition, if you have an Amazon Fulfillment by Amazon (FBA) account, you can generate a discount code for use on social media sites in the Advertising > Promotions part of your account.
You may create an Instagram Sales Channel simply by tagging products on Instagram and linking them to your Amazon FBA and Shopify accounts. Shopify stores provide speedy checkout for customers, while Amazon handles shipping and storage for you.
What’s more, many sellers on Amazon are saving money on PPC by switching to Instagram ads. And they’re boycotting the Amazon marketplace altogether! That’s wrong to some extent.
In the same way, if your brand isn’t present on TikTok, you could be missing out on thousands of views and sales. It’s surprising how quickly you can gain a sizable following on TikTok.
Various companies in the customer’s products industry and on Amazon have begun producing viral videos that promote their products without coming across as overly promotional. The more authentic the video appears, the more viewers will relate to it and be interested in what you have to offer.
If you want to direct viewers to your Amazon product listing or online shop, you can do so from within your TikTok video description.
8-Look at the right metrics
When a seller is focused on immediate concerns, such as ACoS and conversions, they may lose sight of the bigger picture. In Seller Central, you can monitor a wide variety of KPIs, including account performance, advertising, search engine optimization, and more. Prioritize your goals, and then decide on the metrics you’ll use to measure your progress.
To gain some footing in the marketplace, new sellers like yourself need to focus on a specific demographic while promoting their products. If you’ve opted to conduct PPC advertisements for this product, you shouldn’t worry so much about regulating ACoS as you should about the sales they bring in. The goal of the Amazon ad campaign is to increase the number of visitors to your listings. KPI – Key performance indicators (such as product page views and user reviews) monitoring is crucial at this stage.
9-Build a brand presence on Amazon
There is a false mindset about the achievements of Amazon FBA business. Increase your profits by offering more products. That’s wrong. You can sell a hundred different items, but if they’re all copycats, the profits will be negligible at best. Alternatively, you could have just one product that sells millions.
Take Brent Frazey as an example. He released the Sear Pro product. After realizing he needed it one day while cooking, he launched his handheld torch. Upon simply recognizing his personal need, he saw the need of customers, developed a product in response, and went on to earn millions. He plans to soon launch a new, improved version.
So, if you want to make a million dollars off of a single product, branding is everything. Brent established his company’s identity in the community at large and online (through Amazon, his own site, and other channels).
There are three things that support a brand:
- The audience
- The Sales Pipeline
- The unique Product.
And the three must function as a unit. You can achieve some success with only two of the three (or even just one), but if you really want to take your brand to the next level, you need to use all three.
10-Don’t be afraid to outsource your work.
You can’t possibly know everything there is to know about Amazon, but there is no shortage of specialists willing to help Amazon sellers for a fair price. It will not only help you save time, but it will also aid in the rapid expansion of your business.
Amazon marketing agencies are essential to building and maintaining a successful business, and may be particularly useful during crucial phases like product launches, listing optimization, Amazon SEO, and PPC advertising. You can even get the whole Amazon account management service. You can hire an Amazon consultant for a demo so that you can go with them in a satisfactory way. Hiring an expert to handle these responsibilities is a smart move that will greatly benefit the business.
You should let professionals handle tasks that you lack the expertise to complete. It will help you avoid burnout and provide some perspective on where to go from here.
Concentrating on what you’re good at makes expanding your business much easier.
Are you up for every tip?
On Amazon, certain sellers make billions, while others make pennies. That’s due to how well they put the strategies and tips to sell on Amazon. It’s common for Amazon sellers to try to maximize their sales by implementing as many Amazon selling strategies as possible, but they always miss some. Once you’ve mastered all of these tactics, you can boost your sales by 10X by reducing your chances of failure on Amazon.
Learn more about how the Amazon account management service at eComFist can benefit you in the long-run.