Amazon is a titan in the E-commerce industry, with over 200 Million prime members worldwide and over 9 million sellers in the marketplace. Amazon still hasn’t reached its peak, as the marketplace and new prime users continue to grow year over year.
With that said, some brands are still hesitant to sell their products on Amazon. Some fear that the time and money put into selling products in the marketplace will outweigh the profit made by selling products on Amazon. These are genuine concerns for most businesses. However, if you follow the following four pillars of success selling on Amazon, you will maximize your opportunity in the marketplace.
- Creative & Catalog: This is everything the customer and algorithm see. Whether it’s conversion rates or the brand’s story, this should be your primary focus at the start. Making sure that before you spend money driving traffic, you must have an effective listing that people will convert on.
- Performance Advertising: Now that you have your listing and catalog of products telling your brand’s story, you need to think of what advertising tactics to use to captivate people who are searching for your products and the competitors. Doing this will help you build a cohesive strategy that will target different audiences.
- Fulfillment & Operations: You’ve built out your catalog and spent money driving people to your brand with your advertising strategy. Now you have to make sure everything on the operations side is running smoothly. If not, then all the time and money you spent on advertising and creating your catalog will be for nothing.
- Strategy & Data: What are the conversions telling you? What story is your audience’s data showing? What resulted from your A/B testing? You now have a wealth of data that gives you insights about your products, marketing, and audience. Use this information to build and optimize your Amazon strategy. It’s a virtuoso circle, the feedback you need to keep growing by converting.
Setting up your business on Amazon can seem like a daunting task. But, if you break down what you need to do and follow these four pillars, you’ll be on the right track to success with growing your business on Amazon.