Amazon Growth Strategy
So, you’ve stumbled through the weeds of Amazon Vendor Setup and loaded your products onto the fastest-growing marketplace of all time. It should all be plug and play, right? Wrong. You’re learning first-hand what brands new to eCommerce, specifically the Amazon Marketplace, have learned the hard way. Just because your products have been added to Amazon, millions of customers will not necessarily click to buy immediately. Your products may not even appear in search results using the exact title you have loaded. Building traction and awareness on Amazon takes time, and the key to growth is building a strategy that pulls different levers on Amazon to kick start the flywheel. Staying in stock and ensuring your pricing is in line with your competition is your highest priority. Your digital store, though, will paint the picture of who you are as a brand, so you’ll want to ensure that you have content, images, and videos relevant to your product. Having all of these will help sell the customer on buying your product. It is essential that you drive customer reviews and read what customers are saying. You’ll also need to consider Amazon Advertising to drive customers to your pages.
These are just the basics! Here are things that we think brands should consider when formulating an Amazon/eCommerce strategy:
- Are there partners I need to help with fulfillment, content creation, pay-per-click ads, and managing the day-to-day relationship?
- What is my profitability breakeven for the first year, two years, and so on? Can the business recirculate profits into inventory investment and marketing expenses?
- Will I allow my distributor and retailer partners to list my products on the same sites?
- What marketing investments will have the most significant impact on my business?
- Do I see the brand launching in Brick and Mortar to drive growth to eCommerce in turn?
- What Amazon content/ marketing levers will I utilize in year 1, year 2, and year 5?
Plan for the Future
Having a strategic plan and keeping track of progress against that plan can make the difference in reaching the goals you’ve set out.
Need help planning for and reaching your goals on Amazon? Contact us today!