If sellers and businesses want to scale on Amazon and sell profitably, then offering your products on the platform is simply not enough. You have to stay updated, and show your creative side to differentiate yourself from others. Moreover, it is critical to take all the steps needed to stay ahead of the game.
Here are 5 ways to get successful as an Amazon seller and earn maximum profits.
1. Improve your product listings and search terms
Before buyers can purchase the products from you, it is necessary for them to first find them in the search results on Amazon. Well-described, brief, and precise product information can assist in achieving this goal.
Put yourself in the shoes of the customer when optimizing your product listings. What exactly do they need? And how will they go about finding it? Also, make sure you find the appropriate set of keywords to mention in your content.
First, start by searching similar products on Amazon and see which product listings come on top. Find the keywords they are using and you haven’t yet. Make sure to include relevant keywords in your title, that best describe your product, brand, and other attractive features. Also, don’t repeat the keywords in your description if you’ve used them in your title.
Also, use hidden keywords. You can use synonyms and other alternatives that buyers might use to get to your product.
2. Focus on your product prices
When you start selling your product on Amazon, you are likely to compete against thousands of other sellers who are selling the same thing. However, continuously offering competitive prices to customers is one of the best ways to stay ahead of the competition and differentiate yourself.
That doesn’t mean you should compromise on your profits. Use an algorithmic repricer if you are having a hard time keeping your prices competitive enough. With an Amazon repricing tool, all you have to do is set the price limits, and the repricer does the rest of the work. It makes sure to reprice your products after analyzing the situation, and increase your product prices when there is no competition; thus, maximizing profits.
3. Select the most appropriate fulfillment method
You should either choose Fulfillment by Amazon (FBA) or Seller Fulfillment Prime (SFP) if you want to sell exclusively to Amazon Prime members. However, while both of the options allow you to sell on Amazon prime, they have got their own set of features.
Becoming an FBA seller means that your orders are totally fulfilled by Amazon. You ship your products to the warehouses of Amazon, where they are stored until a buyer decides to order them. The goods are then picked, packed, and set straight to the customers by Amazon. FBA also handles returns, refunds, and makes sure your inventory is safe against any damage or loss. FBA also helps you get a competitive edge when you compete for the Buy Box. Why? Well, Amazon prefers FBA sellers above other sellers while assigning the Amazon Buy Box.
On the other hand, if you want to fulfill your own orders, then choose Seller Fulfilled Prime. It gives you access to sell your products to Amazon Prime members. However, once they place their orders, you are then responsible to pack, and ship items straight to the customers without Amazon’s involvement. In addition, you’ll have to deal with the returns on your own. Because FBA as well as SFP have various benefits and drawbacks, it’s crucial to weigh the two options thoroughly according to your company’s needs and objectives.
We won’t get into the FBA vs. FBM debate, but if you want to win the Buy Box easily, then we’ll advise you to choose FBA.
4. Try your best to win the Buy Box
You are probably aware of the significance of Amazon Buy Box. Since there is only one Buy Box available for each item, you will be up against a number of FBA sellers competing and trying their best to win it. The Buy Box is prominently displayed on the product’s page, where a customer begins its buying process. If you want to win the Buy Box, then you have to follow Amazon’s guidelines and meet its standards in a few areas, for example:
- Competitive product prices
- Favorable client feedback
- Fast shipping
- Low return rate
- High seller rating
It does take some time for sellers to build their image on Amazon and maintain a healthy sales history, however focusing on all of the areas mentioned above is not only for the Buy Box, but to sell profitably on the platform as well. It will help in increasing customer satisfaction, and get maximum sales.
5. Work towards providing the best customer service
Having a high rating of customer satisfaction is critical not just for retaining current customers but also for attracting potential buyers. Most of the customers go through reviews before buying a specific product, and they do trust what others have to say about the product they are about to purchase.
In addition, it is also important for you to handle customer feedback positively and respond back to their queries as soon as possible. Resolving their concerns can go a long way toward garnering trust, loyalty, and satisfaction.
Make sure to keep the following metrics as low as possible to achieve customer satisfaction:
- Late Shipment Rate
- Order Defect Rate
- Return Dissatisfaction Rate
In conclusion,
It takes constant effort, research, and hard work to become a profitable Amazon seller. While there isn’t a shortcut to get success on Amazon, there are a few factors you can work on to get a few steps ahead. Remember to work smart, and try to be as creative and unique as possible. Good luck.
