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Amazon is one of the largest and highest revenue-generating eCommerce companies in the world. According to Statista, Amazon’s market share of the U.S. e-commerce retail market would reach up to 50% by 2021.
Perhaps this is the reason Amazon has over 2.4 million active sellers. Though the success rate of even new Amazon sellers is high, they shouldn’t forget about the competition ratio.
Fortunately, there are plenty of things new sellers can do to ensure they’re profitable in 2021. Below, we have put together 8 best Amazon selling tips for you.
1. Do Systematic Market Research
In every business, market research is important to identify customers and their expectations, and Amazon is no exception. In fact, market research should be your primary step to learn how to sell on Amazon for sure shot success.
It’s important to understand that the rules for Amazon FBA operations keep changing with time. Therefore, you must analyze market trends and the best Amazon sellers. Also, go through other online channels to know if there is any gap in the market that you can take advantage of.
Product research is a major part of your Amazon selling strategy. Set your product sourcing criteria and decide on what kind of seller you want to be. With the proper planning, you will already win half of the battle.
2. Identify Your Competitors
Look for a reputable Amazon product research tool that gives you insight into how your competitors engage with consumers and how your products compare to other listings. Also, find a key differentiator in your market.
Products’ reviews and Q&A are two ideal places to understand your competitors and customers’ perspective. Find out what people like and dislike about your competitors’ products.
Based on the information you accumulate, you can optimize your product listing. Thus you can address the gaps in your products and enhance your products’ value.
3. Look for Reliable Suppliers
Looking for a reliable supplier is another important Amazon selling tip that helps you maintain a sustainable supply chain and ultimately generate good revenue.
To strike a balance between demand and supply, you need to find the right supplier. A trustworthy supplier must provide you with appropriate products, quality packaging, and affordable shipping.
4. Pay Attention to the SEO of Your Products
A lot of people, especially newbies, don’t care about the SEO of their product listings. Don’t forget that the Amazon platform works similar to the Google search engine.
According to Statista, 63% of product searches start on Amazon. Consequently, you must look for ways to rank higher on Amazon’s SERPs. Some important things you can do to rank on the 1st page include:
- Use the most relevant keywords for your products in the title
- Write a clear description that explains what your product does
- Specify the color, size, quantity, and ingredients of your product
- Consider using seller name in your product title
- Make your description copy convincing and natural.
- Write features of your product in bullet points.
5. Have a Look at the Metrics
Another Amazon selling tip that you need to pay attention to is metrics. You have a large number of metrics to track in your Amazon Seller Central interface. Check out your performance metrics, advertising metrics, SEO, and more.
Some of the Amazon seller metrics, which matter most include:
Product Ranking
As soon as a prospective buyer lands on Amazon, they use Amazon’s search box to find a product. Your product will show on the first page if it has a good ranking. Remember, the best seller ranking is calculated by sales volume, not customer feedback.
Seller Rating
Seller rating adds more value to your performance as a seller. It has the following 6 major metrics.
- Shipping time
- Order cancellations
- Customer inquiries
- Order cancellations
- Chargebacks
- Guarantee claims
Unit Session Percentage Rate
According to a report, 12.3% is the average unit session on Amazon. It is calculated by dividing the number of units ordered by the number of total sessions.
Order Defect Rate
If your order defect rate is more than 1%, Amazon might suspend your seller account.
Inventory Performance
It’s a new metric which is important to FBA sellers relying on Amazon storage. Update what you keep in stock to improve your inventory performance.
Fulfillment Performance
Fulfillment performance is measured based on how you fulfill orders for customers on Amazon.
6. See the Bigger Picture
No Amazon selling tip will work until you combine your expertise with innovation. You have to make decisions based on the metrics you track. Take a look at key performance indicators and make informed decisions.
7. Provide Excellent Customer Service
Satisfied customers are more likely to buy from you again-and-again. They also refer your products to your friends and family.
When it comes to an online business, good customer service is quite important. Since the buyers can’t directly interact with you, the way you resolve their issues portrays how much you care about them.
Quality packaging and proper returns handling are some of the gestures that show customers that you value them. Remember, happy customers will leave positive reviews about you, and it will attract your prospective customers.
8. Enhance Your Customer Touchpoints
In this competitive era, you must sell your products on multiple channels. Not only will it increase your sales but also an online presence. Create a strong social media presence. Consider influencer marketing in 2021 and sell wherever you find your customers.
Amazon is a great selling platform that can give you a lot of benefits if optimized efficiently. These are a few basics yet important amazon selling tips that can help you boost your sales in 2021.
