World P – Amazon Selling Strategies – How to Increase Sales & Win Market Share
Amazon is a lucrative and chaotic market. Statistics show that more than half of all online product searches start on Amazon, with a whopping total sales of $107 billion last year. If you think about it, that is over $120,000 in sales per hour on average. Amazon Prime is now boasting over 54 million members and counting, that’s like eight million more people than Spain.
Despite this, there are still too many startups or new entrepreneurs who are afraid to venture into or even consider selling on Amazon. The Amazon market can be pretty intimidating, especially if you think about its sudden rise from a bookstore to a worldwide sales giant. Plus, competition has become overwhelming.
Since Amazon takes a bite out of every sale, most online sellers also fear that the online platform is going to cut into their margins and limit—or outright crush—their growth. Nonetheless, there are feasible ways to grow your sales on Amazon and win market share ultimately. It is important to work within the system or suffer the risk of being shut down. One vital point to remember is to focus on the benefits and opportunities that Amazon provides and make the most out of it.
Here are some tips to increase your sales on Amazon:
- Reinvent your brand for Amazon
If time and conflict are your concern, one way to sell your products on Amazon is to reinvent your brand for the sole purpose of selling on the platform. They can be the same items offered on your webpage, product variations, or bundles but are only available for Amazon consumers. This strategy allows you to gain access to Amazon’s huge customer base and try different packages or prices without any adverse effects on your established brand and standard products.
- Promote outside of Amazon
Generally speaking, you are not allowed to market to consumers outside of Amazon, but you can definitely bring customers to your Amazon store through outside marketing. You can use article writing or blogging sites on your other sites to draw potential customers to check your items on Amazon. Social media platforms are also great tools to help boost your e-commerce business.
- Consider using Fulfilment By Amazon
Fulfilment By Amazon (FBA) has helped many online sellers increase their sales volume. This service allows you to send your product inventory to Amazon, and they take care of the next processes. When you have one of your items sold, Amazon fulfils the order, packages it, and ships it to the buyer. Storage and shipping costs will be shouldered by you, which are mostly offered at discounted rates.
Aside from that, you can also take advantage of FBA to handle order fulfilment for the products you sell through other sales platforms. Make sure that you are selling the best products for FBA so that you can maximise profitability.
Being an online seller on Amazon is a task that should not be taken lightly—especially if you are starting out and building your brand on the market. You have to be on top of everything—from enhancing your product listings to monitoring your competition—you will always need to fine-tune a lot of things. Overall, you need to evaluate how Amazon fits with your existing business and pick what method works best for you.
If you’re looking for an Amazon consulting partner to help you grow your business on Amazon, get in touch with us today! We’re happy to help.