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How to increase your Amazon sales

By Rebecca Montag | October 08, 2023
How to increase your Amazon sales
Boost your cash flow with 8fig.

 
If you’re an Amazon seller, chances are increasing sales is one of your top goals. With so much competition on the platform, however, it can be hard to know where to start.

Amazon remains the top eCommerce retailer in the United States, with 37.8% of the market share as of June 2022. In addition, 56% of online shoppers begin their searches on Amazon, making it one of the best ways to reach consumers with intent to purchase.

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Despite the fact that Amazon provides sellers with access to a very large market, there is a great deal of competition on the platform. That means you’ll have to put in some effort if you want to truly succeed.

The good news is there are plenty of simple things you can do to increase your sales on Amazon. Read on to find out how you can finally reach those elusive sales goals

1. Set Yourself Apart

There are millions of third-party sellers on Amazon. Therefore, if you want consumers to select your brand and your product above the competition, it’s a good idea to set yourself apart from the rest. There are several ways you can do this, including through your product, your pricing strategy, and by providing added value to your customers.

Choose the right product

Selecting a product to sell on Amazon is perhaps the most important decision you can make for your business. You want to find a product with enough demand to drive sales but that also has room in the market for you to make your mark. If your product is too niche, there won’t be enough interest. However, if the market is already saturated, it will be difficult to make your mark. Therefore, before you get started, make sure to do your product research.

Many experts advise selling a product that you would like to buy. For example, 8fig seller Will saw the need for a natural remedy to a health struggle he was facing. He decided to start selling it and saw sales skyrocket.

Another way to choose a product to sell is by using a tool such as Jungle Scout that helps you sort through all of the data out there to find a product that has the potential to really sell.

Perfect your pricing strategy

It’s also vital that you price your product right. Remember, lowering your price isn’t always a good strategy for success. Take a look at competitors with similar products, and use them as a benchmark for your price. Your price should not be significantly higher or significantly lower than your competition, or you risk harming your sales. You also need to keep your profit margins in mind.

Provide added value to your customers

If you really want to set yourself apart, it’s wise to provide added value. You can do this by differentiating your product, creating a top-notch buying experience, and by investing your brand image.

In order to set your product apart, you can make small improvements that give you a leg up on your competition. Take a look at customer feedback for similar products, and use that to make your product even better. Fix a problem that customers complained about, or add a feature that they would like to see.

You can improve your buying experience through special packaging, exceptional customer service, or personalization.

As for your brand image, use your differences to your advantage. Consider investing in sustainability, and use it to attract environmentally conscious customers. Create a name for your brand by staying active on social media, and make sure consumers know your brand name.

2. Get the Right Tools

Since many eCommerce businesses are small, consisting of a solopreneur or just a few people, it can be difficult to do everything on your own. That’s why it’s crucial that you invest in the right tools in order to not only get everything done, but to get it done right.

There are a wide variety of useful tools out there for online sellers, and they can go a long way toward helping you increase your sales on Amazon.

Amazon tools

Amazon provides sellers on the platform a number of tools that are invaluable for sellers looking to increase sales. Signing up with FBA, Amazon’s fulfillment service, can be a great way to avoid dealing with complex logistics. It also solves your shipping dilemmas, providing you with low-cost, fast shipping solutions.

Brand Registry is another resource that Amazon offers. Signing up for Amazon Brand Registry allows you to register your intellectual property and protects brands from fraud and other forms of abuse.

Another useful resource from Amazon is A+ Content. You can use A+ Content to add features to  your product listing, such as images and videos. According to Amazon, adding A+ Content to your listing increases sales by an average of 5.6%.

Third party tools

If you need an extra boost with any aspect of running your eCommerce business, chances are there’s a tool out there to help. Companies such as Helium 10 provide Amazon sellers with a variety of tools that assist with everything from sales analytics to keyword research. Zee helps FBA sellers seeking to expand to foreign markets, and Perpetua makes creating and launching ads a breeze.

Of course, it takes money to make money, so if you need eCommerce financing or help optimizing your cash flow, check out 8fig. We’re a growth partner for eCommerce sellers, providing both the capital and serious financial tools they need to increase sales and grow their businesses. You can sign up for a personalized Growth Plan here.

3. Improve Your SEO Strategy

If you want to increase sales on Amazon, you’ll need to show up at the top of product searches. In order to do that, improving your Amazon SEO strategy is a must.

Amazon SEO is the use of keywords and product information to optimize your product listing so it appears higher up in the search results. This is incredibly important since research shows that 70% of searchers on Amazon don’t click past the first page of results.

There are a number of ways to improve your SEO strategy, but it’s always a good idea to start by doing your keyword research. Taking a look at keywords your competitors are ranking for with similar products is a good way to find relevant keywords for your listing.

Then, optimize your product title, images, key features, and product description making sure to include your relevant keywords. You’ll want to include keywords in your product’s backend search terms, too.

While focusing on your keywords is important, it’s also essential to ensure that your listing contains high quality, accurate, and descriptive content. This helps boost your SEO ranking, too.

4. Optimize your product listing

Your product listing is the customer-facing part of your store. Unlike in a brick-and-mortar shop, consumers don’t have the opportunity to touch, examine, or try on the product that you’re selling. Therefore, your product listing needs to clearly and simply provide them all of the information they need to make an informed buying decision.

Enhance your product images

Your product image is one of the most important aspects of your product listing. Since it’s often the first thing that potential buyers see when they come across your listing, it provides them with the all important first impression. While you must use at least one product image, it’s a good idea to include several different pictures, showing your product from multiple angles.

Make sure your product images follow Amazon’s image requirements, and that your photos are clear, in focus, and detailed. Your main photo should show your product on a white background, while your additional images can include infographics, items for scale, and even show your product in use.

Include a video

Including a video in your product listing has also been shown to increase sales on Amazon. Videos are often more effective at showing off your product and its features than still images. Today’s consumers want to see products in action in order to truly understand what it is they’re purchasing.

According to Wyzowl, 89% of people report that viewing a video convinced them to purchase a product or service. They’re also more likely to want to watch your video than read a lot of detailed text.

Get your text in line

In addition to making sure your product listing includes keywords for SEO purposes, improving the text in your product title, description, and key features can also go a long way to increase sales on Amazon.

Your product title should be clear and concise while still containing all necessary details about your product. It should be around 80 characters and include the product name, keywords, brand name, and identifying features like material, color, and quantity.

The product description should accentuate the very best features of your product and be well written and accurate. Pay attention to the key features bullet points too, making use of at least five bullet points to provide your customers with additional information you feel is important.

5. Create content

Content marketing is the practice of using articles, videos, blog posts, and other types of media to build an audience for your brand and attract potential customers. It’s a cost effective way to get your name out there and build brand awareness, trust, and loyalty.

In order to implement an effective content marketing strategy, you’ll need to understand your target audience and tailor your content to them. Create content that addresses their needs and pain points, establishing yourself as an expert in the field in which you are trying to sell. Your content doesn’t need to explicitly sell your product, rather it should educate your target audience about your product and features.

Some popular types of content marketing include blogs, videos, podcasts, infographics, and social media.

Utilize UGC

UGC, or user generated content, is content published by real users on social media and online, rather than official branded content. It can include text, photos, videos, and any other type of media.

In recent years, UGC has become an integral part of marketing for eCommerce businesses. That’s because consumers are more likely to trust content that comes from real people rather than big brands. In fact, UGC-based ads have a click-through rate (CTR) four times higher than other types of ad.

Putting some effort into UGC is a great way to increase sales on Amazon. You can start by asking your customers to post photos or videos of your products on social media and tag your brand. Perhaps offer them a discount or reward for doing so. Then, you can share these posts across your channels too.

Influencer marketing

Influencer marketing is another great way to increase sales. According to one report, the average return on investment for influencer marketing campaigns is $18 for every $1 spent.

Working with influencers to push your brand or product on social media can help you reach a wider audience and increase brand awareness. Plus, social media users are more likely to trust and engage with influencers rather than brands.

If you’re ready to start working with influencers, there are several different types of partnership you can choose. These include sponsoring their posts, offering them free products, providing them with products to run a giveaway for their followers, offering a commission on sales, and entering into a longer-term partnership. There are also several platforms out there to help your brand connect with influencers in relevant niches.

6. Email, email, email

Email marketing may be one of the oldest forms of digital marketing, but it’s still one of the most effective ways to generate sales. Perhaps that’s because so many people use email. In 2022, there were an estimated 4.3 billion email users globally, 99% of whom check their inbox every day. It’s a super cost-effective form of marketing, with an average return on investment (ROI) of $36 for every dollar spent.

Therefore, if you’re not already using email to build your brand awareness and increase your sales, you’re missing out. Start by building your email lists. Since you won’t have the email addresses of customers who purchase your products on Amazon, you’ll need to do this in other ways.

Run ads on other platforms directing traffic to a landing page. Once leads arrive on your landing page, prompt them to enter their email address. You may want to offer them a discount code or perhaps a free resource in exchange for their email address to convince them to join your list.

Then, use your email list to promote your brand and products. Send newsletters with relevant content, announce deals and promotions, up-sell new products, and cross-sell similar products to those that a customer has already purchased.

Emailing your lists frequently is a great way to keep your brand in your customers’ minds and foster brand loyalty. Surveys show that 61% of email subscribers prefer to receive promotional emails every week, so you don’t have to worry about emailing them too frequently, either.

Email best practices

When you email your lists, there are some simple ways to improve your click through rate and ROI.

One of the best ways to improve your email marketing strategy is through personalization. This means ensuring that your emails are specifically targeted to the recipient. Personalized emails have a higher open rate and a higher click through rate than generic emails, as well as contribute to an increase in customer satisfaction.

It’s also a good idea to A/B test your emails. This means sending out different versions of your emails to see which one has the best conversion rate. You can try different subject lines, different preview text, or even different CTAs (call to action). Then you can use what you learn from the tests to improve your emails and increase sales.

7. Invest in Amazon PPC campaigns

Amazon PPC, or pay-per-click, campaigns place your product and/or brand in prominent places across Amazon and even third party websites. This increases visibility for your product, expanding your reach to more potential customers. With increased visibility comes increased sales on Amazon. Therefore, it’s worth investing in PPC campaigns if you’re trying to raise brand awareness and increase sales.

With Amazon PPC, Amazon puts your product or brand in front of potential customers. Each time someone clicks on the ad, you pay Amazon a predetermined fee.

PPC campaigns are based on keywords, showing your ads to consumers who search for keywords you choose or that Amazon assigns automatically. Take the time to do some research and bid on keywords wisely.

There are several different types of Amazon PPC that you can choose from. Sponsored Product Ads are the most commonly used type of PPC ad. They help increase sales of your product by placing your individual product listings prominently on the search results page. They look like organic listings, too.

Sponsored Brand Ads, on the other hand, increase the reach of your brand by featuring your brand logo, headline, and several products on relevant search results pages.

The third kind of Amazon PPC ads are Sponsored Display Ads, which show up on Amazon’s home page, results pages, and other product listings on Amazon as well as on third party websites.

While Amazon PPC is a very effective way to increase your sales, it comes with costs. Before investing in a PPC campaign, make sure to decide on a strategy and set a budget that suits your business goals. Then, stay on top of your campaign to make sure it’s performing well.

8. Make Sure Your Shipping Strategy Is in Order

If you’re not offering fast, free shipping, chances are you’re missing out on sales. With the increased popularity of Amazon Prime and its free one or two-day shipping has changed the way consumers buy products online. In fact, 90% of consumers feel that delivery times should be shorter than five days, and 62% say that they expect delivery times to be shorter than 3 days.

According to a 2023 Shopify Commerce Report, online shoppers purchase 2.5 products with free shipping versus an average of 2 items with paid shipping. In addition, consumers are willing to pay more for products with free shipping, spending an average of $3 more than the median price when they don’t have to pay for shipping.

These statistics show that shipping should be a priority for online businesses. Even if you need to raise your prices slightly in order to make fast, free shipping profitable for your business, it might just be worth it.

Another way to improve your shipping strategy is by signing up for FBA, or fulfilled by Amazon. If you put Amazon in charge of your fulfillment, you get the opportunity to offer fast, free shipping through Amazon Prime. This not only eases your shipping challenges but can increase your visibility as many Amazon Prime members seek out Prime eligible products. This is a great way to increase sales on Amazon.

9. Round Up Positive Reviews

Having a large number of positive customer reviews on Amazon is one of the best ways to increase sales. Reviews are powerful, since consumers are heavily swayed by social proof. This is a psychological principle in which people mimic the actions of others in order to figure out how to behave in a given situation. When online shoppers see that other customers have purchased and enjoyed your product, they’re much more likely to click that “buy” button.

While some online sellers might be tempted to pay for fake reviews, this is never a good idea. Shoppers are wary of this trick, and Amazon has strict regulations designed to prevent tactics such as this. Instead, work on rounding up genuine, positive reviews from happy customers.

There are a number of ways you can do this. Start by ensuring that the product you sell is indeed of high quality and meets user expectations. If customers are disappointed with your product, they’re not going to leave you positive reviews.

Then, engage with customers to thank them for their purchase and request a review on Amazon. You can easily do this by placing product inserts in your packaging, or if you have your customers’ email addresses, send follow-up emails with a link to leave a review. Amazon also offers some solutions for increasing the number of reviews on a product, such as the Vine Program and the Request a Review button.

Remember, Amazon does not allow sellers to pay customers for reviews or specifically ask for a 5-star rating. However, you can offer discounts or promotions in exchange for reviews.

10. Focus On Return Customers

While many brands spend all their time trying to attract new customers, putting some effort into fostering relationships with return customers is actually a more effective way of increasing sales on Amazon.

It’s more cost-effective to retain existing customers than to attract new ones, and increasing your customer retention by just 5% can actually raise your revenue by 25% to 95%. Loyal customers are also a great asset to your business, as they are more likely to post positive reviews and refer friends and family, increasing sales even more.

There are a number of strategies you can use to increase your retention rates. Start out by streamlining your customer experience. Make sure your customer service is working well and that your customers have an easy and positive experience when making a purchase from your store. Pay attention and respond to feedback, and make changes to your product or service accordingly.

Keeping in touch with your customers can also keep them coming back. Personalized marketing campaigns and emails will keep your brand top of mind, and remind customers to come back for another purchase. Offering regular discounts or introducing a loyalty program can also encourage customers to continue to buy from your store.

Make your customers feel like you see and care about them, and they’ll reward you with increased purchases, referrals, and positive feedback.

Increase Your Sales on Amazon

Amazon is increasingly competitive, but there are a number of strategies you can use to increase your sales. Every brand is different, so take the time to figure out which methods will work best for your unique product and budget.

If you need eCommerce funding and financial management support to take your business to the next level and increase sales, 8fig is a great solution. We offer an AI CFO that provides eCommerce sellers with the funding and serious financial tools you need to optimize their cash flow and reach your goals. Our Growth Plans are personalized, equity-free, and flexible, so you’ll be able to grow faster than ever. Sign up here and see how 8fig can change the future of your eCommerce business.


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