You’ve recently joined Amazon expecting to be part of the online sellers that make at least $1,000 per month, great! We imagine you have an ingenious product you’re sure is going to be a total HIT. But have you ever stopped and wondered how you will compete with the other active 9.7 million sellers worldwide?
Seller competition on Amazon is fierce and getting buyers to discover your product is a titanic task. This is where marketing comes into play!
It is sometimes overrated and dismissed by sellers who argue marketing is just relevant for larger enterprises. WRONG! The reality is that if you want to capitalize on your product, the more time you spend creating a marketing strategy, the more opportunities you’ll create to sell your product.
Marketing will help you increase your product visibility to attract more qualified leads and boost your sales, leaving those 9.7 million vendors eating dust. Still, feeling a little skeptical?
Here’s the whole picture.
1. Reaching the Right Customers
You have your product elevator pitch all figured out and how you’re going to sell it, but was it based on an accurate buyer persona? Did you investigate what your potential customer’s pain points were and how your product may resolve them? Which platform is the best to engage with your customer?
The key to selling your product relies on getting to know your buyers’ persona and communicating with your audience. How do you think politicians win an election? By studying their audience!
Pro Tip: Get relevant information about your target market, such as their age, buying power, motivations, and consuming habits. It will help you create a campaign and messages that best speak to their needs, interests, and pain points.
2. You’ll Need An Actionable Road Map
Knowing your audience helps resolve the issue of how you may convince them to buy your product, but without establishing a clear direction, you’ll end up going in circles.
A strategic marketing plan will define specific objectives to get your products selling. For instance, it could increase the visibility of your product by creating a strategic plan to land on the first page of Amazon search results.
Pro Tip: Once you have set your marketing goal, break it down into stages or small steps with specific timelines in order to make sure your marketing efforts are measured and achievable.
3. Get Ahead Of The Competition With Campaigns
Paid campaigns will boost your product views, convert clicks, and drive sales.
Did you know that 70% of Amazon shoppers never click past the first page of the search results? This means if you are not organically ranking high, your product will probably never be seen unless you create an ad campaign to boost your product's position on the page.
Pro Tip 1: Create a S.M.A.R.T goal. It must be specific, measurable, achievable, realistic, and timely. Example: Increase click-through rate by 10% in the next six months.
Pro Tip 2: Create a realistic, performance-driven budget by calculating your Advertising Cost Of Sales.
ACoS= ad spends divided by your number of sales.
We hope you better understand the power of marketing and how it can boost your sales and help you to stay on top of your competition!
Looking for the best marketing strategy? Reach out to us on the “Contact Us” tab to learn more about how Marknology can help you create the best marketing strategy for your brand.