Whether you’re a first-time business owner or a high volume vendor in Amazon, you must not ignore all amendments done in 2017. Instead, these amendments should serve as a wake-up call for you to create a new business strategy for improving your sales.
If not, you’ll allow your competitors or even your own reseller have your profit as well as the control over your brand. In reevaluating your strategies for the upcoming year, you must include the things you need to work on to boost your revenue. Here they are as follows:
Online businesses must know how to get a hold and monitor their listing on Amazon to win this coming year. Or else, you’ll risk having your brand connected to a random reseller’s listing.
Based on the survey research conducted by BloomReach last 2016, about 55% of product searches within the US began on Amazon.com. Roughly 28% began their journey on search engines. Since there is a lot of traffic that goes to Amazon, there’s no doubt that its product listing content oftentimes being indexed on the Google rather than on its own website.
Amazon is a well-known open marketplace that enables anyone practically to build new product listings. Hence, it depends on the brand executive to make sure that these new listings are built and maintained regularly. If not, it gives chance to resellers to make duplicate listing through new or fake UPC’s which technically don’t support the brand’s messaging.
For business owners who already splurging for online ad dollars with Facebook and Google, it is crucial to assess where Amazon advertising will perfectly suit your budget.
It is not new anymore that brands change most of their advertising dollars into Amazon. Why? It’s because they’ve learned they could advertise to an audience if they are closer to creating a purchasing decision.
As a matter of fact, Amazon provides plenty of opportunities on Amazon.com which include Sponsored Products, Amazon Marketing Services, and Amazon Marketing Group. These days, they are all drawing more attention due to its strong ROI which was experienced by many brands via Amazon in promoting their products.
Although brands may decide to limit who can sell on Amazon, its open nature actively promotes the invitation of gray market sellers. Majority of Amazon resellers do operate through disguising as ‘Doing Business As’ names, which makes it more difficult for brands to implement distribution agreements.
Once the brand can’t fully control its global distribution, in no time the product will just pop out in Amazon mysteriously and appear right below the desired minimum suggested price of the brand.
Because of that, businesses should get rid product diversion, re-importation and gray market selling of the product. To do this, they can simply add language to the reseller policy that prohibits distributors from diverting or reselling inventory to illegal resellers. Don’t forget to implement that policy. Not only that, they may also track items from different unauthorized sellers through utilizing Serial Numbers, RF Tags and invisible ink in order to identify the main source of their product leak.
Undoubtedly, standing out on Amazon in 2018 is a real challenge. Don’t give up! These ways will help you a lot.