It’s difficult to ignore Amazon. They’re like the two-ton elephant in the room. But, while you can sell on other platforms and from your company’s website, you can grow your business faster by harnessing the strength of Amazon’s heavily-optimized sales system that promotes brands and products from independent sellers on their platform.
Amazon’s Platform Scale Continues to Grow
Whether you have a ten-million-dollar brand right now or something smaller, Amazon has a significant market share of all e-commerce sales, whether B2B or B2C. Given that the company’s shares just pipped past the $2,000 per share mark and are giving Apple a run for its money as the most valuable company in the world, it’s tough to argue with getting on the Amazon money train.
While platforms like Shopify, eBay, and Etsy perform well for certain types of goods, they don’t work for all. Besides eBay, it’s necessary to drive traffic to these sites if you hope to make major sales. eBay has sufficient traffic volume to make sales without needing to drive targeted traffic or use paid traffic, but it’s several times smaller than Amazon at this stage.
Product Listings and Being Accurate in Your Descriptions
Once you’ve decided to sell on Amazon, the product title and description is one area most newbies get wrong. But unfortunately, the largest online retailer is a stickler for the details. The reason is pretty simple – when a customer receives a product that’s not as described, it creates a costly return, an email to customer services, and their brand takes a hit too.
Keywords also matter. They help with search engine queries to match Amazon’s customers with your product(s). Look around at your competitor’s products to see how they word their descriptions and get a sense of the likely keywords they’re using to categorize them.
With product descriptions, longer is better than shorter. When a product description is too short and has low-quality images, potential buyers become unsure whether the item is what they need. They don’t want the trouble of having to return the item later. There are too many other alternatives with many similar products on the Amazon site vying for the customers’ dollars and cents. Provide enough detail and look at your past customer service queries to see what questions customers have previously asked that weren’t in the description. Then go back and add it in.
There Are No Schemes On Amazon
Since the dawn of money, people have tried to take shortcuts and find loopholes to get more of it as fast as possible. Amazon knows this, and they stop them in their tracks. These people usually try and get fake reviews to rack up their rankings; that way; they look like successful sellers.
Amazon has taken a few steps against these people: Only verified purchase reviews, tracking IP addresses, and Shutting down suspicious accounts.
Amazon also uses AI to flag and remove any reviews that seem fake, including reviews posted a few years ago.
Protecting the Brand with Amazon’s Brand Registry
One of the issues that people new to Amazon have been facing recently is the hijacking of the buy box. That is the ability of other businesses to use your Amazon Standard Identification Number (ASIN) and sell either a duplicate or similar version of your product under your listing.
The situation has been frustrating where sellers have seen their buy box taken over repeatedly with no way to protect against misrepresentation of their brand and buyers getting confused. Thankfully, now Amazon has introduced a Brand Registry, which provides more protection than sellers have had in the past.
Legitimate brands have some hoops to jump through to register their brand. But there are some benefits, too, including modifications to how the brand is presented on Amazon’s site, better information provided to their customers, brand imagery, and enhanced protection against counterfeit goods. For sellers, it’s worth signing up with the Brand Registry to protect your intellectual property with the largest online retailer.
Getting Amazon Compensation for, In addition, they/Damaged FBA Merchandise
Longer-term sellers using Fulfillment by Amazon (FBA) have faced other problems. Namely, financial losses due to damaged or lost inventory in Amazon’s warehouses. This is seldom discussed, but depending on how much volume a company puts through Amazon on an annual basis, the losses can add up. In addition, they cut your profit margin after the various costs and fees Amazon already charges the sellers.
It’s not always easy to sort out reimbursement from Amazon for the losses, either. Plus, sellers have difficulty dealing with the situation and calculating what’s owed to them. Software is available to help ensure Amazon sellers can easily get refunds when needed. This is excellent news for FBA participants who see their profit margin shrinking over time due to damage or loss of goods after officially being signed into one of Amazon’s many warehouses. Accidents happen, but there’s no reason why sellers should lose out financially as a result.
Growing your business through Amazon is an excellent way to expand revenues and profits. However, it’s always a good idea to have multiple sales channels and not rely on one. Adding Amazon’s sales channel to existing ones like your website significantly affects the bottom line for most sellers who decide to leap.