6 Basic Strategies That High-Volume Sellers Use to Compete on Amazon
Amazons is a large marketplace and opportunity for vendors to sell their products and make a lot of money. However, in order to succeed in this competitive marketplace, you need to ensure that your products are visible and enticing to potential buyers. If you’re looking to increase your sales on Amazon, we’ve rounded up six strategies that high-volume sellers use to stay competitive on Amazon.
1. Invest in Amazon PPC
One effective way of becoming a high-volume seller on Amazon is by making use of Amazon PPC campaigns. These adverts ensure that potential buyers can see your product when they are browsing. If you’re not familiar with sponsored ads, they are ads that allow your product to appear on Amazon’s category listing and at the top of search results.
They are similar to Google’s PPC as you only pay when a person clicks on your ad. If the clicks convert into sales, it can significantly improve your BSR as well as increase your product’s visibility.
2. Optimize your listings
Another great way of improving your best sellers rank is to optimize your Amazon listings. This will also increase the chances of your product will showing up in search results. You need to include keywords in your title to improve your SEO. Amazon gives sellers 500 characters for their titles, and while these seem a lot, it’s important to select your words wisely.
Other than keywords, your title should make sense and explain to prospects clearly what your product is. Do not only load it with keywords as this may scare away potential buyers.
3. Price your items less than the competition
If you sell on Amazon, especially popular items, chances are you’ll be in abiding war with other vendors selling similar products. In order to stay competitive, you need to price your item/s less than your competitors. This will also help your products show up higher on the list and be more favorable to sell. But how far can you lower your price? The answer is 1 Penny. Believe it or not, 1 penny less will make 9 out of 10 people look at your item more. What seems cheaper? $399.99 or $400.00? I think we all know the answer!
4. Use auto repricing software
If you make it big on Amazon and start to sell 10, 50 or more items at the same time, you’ll find it’s almost impossible to keep track of each item and who is bidding more or less than you. In fact, think about this: Imagine you have 20 items being listed on Amazon, and you can’t keep track of all 20. Once you price 1 item less, you may encounter another item youposted gets outbid by someone, and as you adjust your price there, another person outbids another item.
The more you start selling on Amazon, the more difficult this becomes. So what’s the solution? Use an auto-repricing software which basically collects all of your items and automatically bids less each time someone else tries to outbid you.
5. Take advantage of marketing tools
There are several Amazon marketing tools that can help improve your products visibility. Some of these tools include Likes, Listmania, and Tags.
6. Make sure you have enough product supply to meet market demand
Though as a beginner you need to start small, it’s advisable always to ensure you have enough products in your stock just in case you start getting more orders. This will ensure that your clients do not find alternatives and also it increases your income.
In order to become a successful seller on Amazon, you have to work smarter, not just hard. Follow the above strategies to increase your sales.