If you are a budding entrepreneur, Amazon is where your dreams come true. Countless small businesses that were struggling with real-world marketing and online stores have found their success on Amazon. The allure of the platform comes from the fact that it is easily accessible by just about anyone. It doesn’t matter if you are a reseller or manufacturer or agency; it doesn’t matter if you have no prior experience either, Amazon doesn’t demand much and lets the customer decide what is best.
But hold your horses; surely registering on Amazon is as easy as creating an FB profile but that’s just the first step. If you have already made an account, congratulations! But if it is so easy that means there are millions of other people doing the same thing without much difficulty. If you want to sell on Amazon you need a great business strategy to outmaneuver your competitors.
So watch your profits soar as you use these five tips on your Amazon business:
1. Identify your Niche and Build your Brand Accordingly
As the great Chinese general and philosopher, Sun Tzu said, “The battle is won before it is fought.” It’s all about having a great marketing plan.
And modern marketing is nothing like the mass production and indiscriminate sales of the past. Marketing today is defined as managing profitable relationships. You are looking for lifetime customers, so you can’t approach them with a ‘take it or leave it’ attitude.
‘Customer is king,’ you heard this phrase too many times. But more important than treating your customer right is figuring out who your customer is. For example, if you are a diaper company, there isn’t any point advertising to teenage boys. You need to market to a niche, which in this example would be women with babies.
Once you have identified your niche, you can market to your target audience. And you do that by building a brand, an entity, something that they can trust and relate to. Be sure to be proactive and win your customers over through ads and email campaigns.
2. Know thy Enemy
A low-barrier, easy to access platform has one major drawback, i.e., intense competition. Take any segment or niche on Amazon, whether it be tennis shoes or toilet paper, it’s highly competitive.
If you want to have an edge over your competition, know your enemy as well as you know yourself. Know their price, their placement, their features, their campaign strategies; any piece of data is valuable. The best way to gather this info is to read the reviews they have and understand what the customers think of their products.
3. Reviews are the Real Currency
Amazon puts its customers first and if you follow their lead, you will stand to benefit a lot more than you think. If you want to outshine the competition you have to get your customers to give you the most positive reviews possible. You need to have a dedicated customer support team that is proactive and responds to customer grievances and compliments.
But be careful, Amazon penalizes those sellers who try to buy reviews or leave fake reviews. So the only way to beat the competitor is by ensuring superior customer satisfaction
4. Set up Fulfillment by Amazon (FBA)
Let Amazon do all the heavy lifting and opt-in for Fulfillment By Amazon (FBA). Having Amazon vouch for you will make you more credible.
If you avail the FBA service your products will be stored in fulfillment centers and Amazon directly handles customer service issues as well. This is a service used by most experts.
5. If You Want to Reap, You Must First Sow
Investment isn’t optional. Building an Amazon business on a tight budget can be pretty difficult but if you don’t spend enough on promotion and giveaways, you will never be able to make a mark on the market or grow your consumer base. If you want to reap you must first sow; take this rule to heart. Always take the profits that you receive from the business and reinvest in it so that it keeps growing. It’s all about delayed gratification; the longer you wait, the better the yield.
So, congratulations and godspeed on your new venture. If you have difficulty managing your amazon business, approach a professional like Wisitech. We deliver powerful SEO driven content, clean pictures, and robust marketing strategies. Our Amazon marketing experts and Amazon PPC consultants are the best in the business and ourcurators will ensure that you receive the best Amazon store optimization services and overall turnover.
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