As you know, competition in the e-commerce business is fierce, especially on Amazon. But that doesn't mean that success is impossible. Here are 3 steps to help you stand out on the online retail giant's platform.
1. Setting up a seller's account
To create a seller's account, you will need the following information:
- Bank account number and routing number;
- Credit card ;
- Government-issued national identity card (like a driving licence);
- Tax information ;
- Telephone number.
Then add your products and start selling them.
2. Attracting consumers
With the sheer volume of Amazon listings, yours needs to stand out. Best practices for attracting customers involve pricing, shipping and advertising.
- Set competitive prices. Amazon has built-in seller tools that automatically reprice your listing to an optimised price based on the parameters you set (this way you always make a profit). Amazon can also offer volume pricing to attract Amazon Business customers.
- Ship quickly. If you don't use Amazon Prime shipping, the best thing to do is to make sure you ship your products quickly when you use another courier.
- Advertise with sponsored ads. When you turn your ad into a sponsored ad, it appears on product pages and in search results. These ads work on a cost per click (CPC) basis. This means that every time someone clicks on your ad, you pay whether or not they make a purchase. This can be pennies, or it can cost several dollars per click.
3. Get feedback
A satisfied consumer is the best salesperson. Ask your customers to recommend your products on your Amazon page.
However, there are strict rules about what is and is not allowed when you ask your customers for reviews. If you are caught encouraging your customers to leave a review, your account can be permanently banned, funds withheld and even prosecuted. But what you can do:
- Ask for advice, but do not offer compensation, free product, refund or discount for it;
- Sign up for Amazon's Early Reviewerprogram , which encourages reviewers to provide genuine reviews.
- Remember, just because you see another Amazon seller doing it doesn't mean it's okay. It's not worth getting caught and losing your seller account.
Although the steps to selling on Amazon are relatively simple, success is about selecting the right products and carefully optimising your listings. Even after you've seen success, staying ahead of the curve requires constant maintenance.
At Bofu, we can help you achieve and maintain success on Amazon. Let's discuss your needs during our exploratory call. Book your appointment now.
