In the digital age today, listing your product on Amazon may seem daunting and challenging. If you have a quality product to sell and an Amazon account with a budget to spare, simply go for it!
It is easier now to sell online than ever. Compared to the pre-pandemic era, consumer behavior has seen a huge shift to being open to buying online.
The Indian e-retail market is to rise from 300 to 350 million buyers by 2025. Hence, if you are considering selling online, there couldn’t be a better time than this!
1. Product research
The first step is to stand out from the crowd and go knee-deep into research. Choose a product that is unique and is value-creating at the same time. You want to do a detailed competitor analysis on other sellers and understand what product and marketing strategy worked best for them. This does not mean you apply the same for your product but gain an in-depth understanding. Analyze their sales revenue, keywords search volume, and functionality.
Here are some pointers to break down the product research stage for you-
Amazon Bestsellers - Dive deep into the Amazon 100 bestsellers categories and their subcategories.
Competitors - Compare what competitors and other sellers are doing different within the same category
Use Google Trends - Google Trends is one of the best ways to keep up-to-date with the latest trends. Simply switch on your notifications for alerts on what is trending.
Reach out to Your Supplier- Your supplier is your go-to person to give you valuable information on the inside. He can share with you the latest product trends and what would sell best.
Other eCommerce Platforms - Analyse what other websites such as Flipkart and Alibaba are doing.
2. Set up an Amazon Business Account
Sign up with Amazon with a business account. This enables you to manage your business professionally.
3. Scrutinise - Are you ready?
The more you analyse, the more you will understand where your product stands. Ask yourself the following questions -
Is my product creating any value?
In recent times, people prefer value-creating products and treat them as an investment. It cannot just be a fad if you are looking to grow your Amazon business from a long-term perspective.
Is your product category already saturated?
Is there a possibility for the visibility of your product? If it is already saturated, it might take you immense time and investment to generate high-value sales.
4. Allocate Budgets
The next step is to allocate budgets to sell on Amazon. To sell professionally on Amazon, you will need to pay a certain fee to run your account apart from the other projected fees. Make sure you set aside a budget for the same and understand the fee structure.
5. Consider Amazon FBA
If you’re looking for a hassle-free way of kick-starting, Fulfillment by Amazon (FBA) is for you. Fulfillment by Amazon takes care of everything from shipping to packaging and customer service as well. However, if you have only a small inventory then it makes sense to do it yourself and opt for Fulfillment by Merchant (FBM) as it would be cost-effective and would give you an understanding of how things work.
6. Amazon Product Details
Your product details need to be meticulously in order. The weight, sizing and other such details need to be perfect. Each product from the inventory needs to have a clear and appealing image. Preferably multiple images from different angles and zoomable to highlight every feature. This will also help build trust with the consumer.
7. Optimised Selling Through Optimised Content
The content for each product needs to be in place. The title, description and product details need to be SEO optimized and keyword-rich. Tags also play a very important role and will help with visibility which is the main goal in the initial stages. Google keywords is a helpful tool when it comes to generating and optimising content.
Lastly, ensure that you are selling in the right category and sub-category.
8. Promotions and Cross-Promotions
Since visibility is your foremost goal, start small paid campaigns with Amazon Ads. Keep track of how your ad performed. Apart from paid ads, start organically cross-promoting your products on your website, Facebook and Instagram. You can also look into Facebook and Instagram Ads to reach out to the appropriate target audience since social media consumption has been on a rise in India.
9. Understand How Products are Selling
Understand how your products are selling. The key is to understand which campaigns and platforms are bringing you sales. With a gold mine of information in the Amazon Seller Central, you can accordingly revise your strategy like reduce your pricing, increase ad spends, optimise content, etc. Understand that the strategy needs to keep updating. What worked in the first month may not necessarily work for the next month.
10. Regularly Check Customer Queries, Reviews and Product Ratings
Make sure you answer every customer query. Once a product is sold, politely request your customer for a review and rating. More than half of the consumers on Amazon read reviews and ratings before making a purchase. Hence, it is imperative to have these in place.
11. Building Brand Image and Loyalty
Building a strong brand image is the only way to brand recall and eventually, loyalty. This is key for a long-term business to sustain. In addition to great content and images, build your brand using the Amazon A+ listing feature. Your product needs to be in line with your brand beliefs as well. E.g., if your brand stands for environmental sustainability, you cannot sell a product that might be harmful to the environment.
You could start adding little mementos or add-ons to make the consumer feel valued and appreciated. This would in turn lead to potential regeneration of sales. List your trademark in Amazon brand registry and set up your storefront with Amazon A+ listing.
12. Keep Analysing
Once your inventory is in place, you need to keep analysing your metrics and other parameters such as content, images and customer concerns. Optimising pricing and packaging is also key. Inventory reports, campaign analysis, etc., will help you gain key insights on how to enhance your inventory and strategy.
It is important to understand the eCommerce space and put your best foot forward when starting out. You could even seek professional help at this stage to ensure smooth landings or consider investing to grow your business after setting up.
Powerhouse91 is well-trusted in the industry with minds that put in their 100% per cent to ensure that your business has a great journey with sustainable and long-term goals in mind. With over 30 years of cumulative experience, they have first-rate customer loyalty and satisfaction in the fields of eCommerce, Technology, Marketing and Chain management. Reach out to them at firstname.lastname@example.org