Category : Amazon Strategies

Amazon Strategies

Winning a Amazon Buy Box – An Example

 How to Win Amazon Buy Box

 

You must have heard something calledWinning a Buy Boxon Amazon. If any of your products happen to win this, buyers looking for that item are shown your product first even if your price is higher than others giving better opportunity for sale.

 How to Win Amazon Buy Box2

 

 

In an example above, you can see Concord Extra (£7.04) got privilege to sell an item which is penny higher compared to Jons Gifts (£7.03). Buyers looking for this item see this item first to Add to Basket. There is a general assumption on Amazon that cheapest item is shown in the top, hence customers end up buying that item.

It does make a difference if you win Buy box or not. There is no other way to win a buy box than being a Good Seller. Being a Good seller means shipping orders on time, fewer refunds, and fewer cancelled orders apart from lower price of the item. Amazon got very comprehensive Seller Performance Reports which you simply need to keep an eye on.

You might have read expert articles on this subject, but Remember the bottom line is be a Good Seller and you will win Amazon Buy Box.

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Do you Care about Packaging your Orders ?

Packaging your order betterI love on-line shopping and don’t like going around shops. I believe there are quite a few millions like me ! I know , I can buy anything I need on-line  and do so. If things are not available in the UK I can even import it without hassle. On-line Shopping is truly Global now-a-days.

Recently, I bought a Christmas present for my other half. The order was with FREE postage and arrived safely. To be honest, I bought quite a few things same time and I din’t know what it was until I opened the box. When I opened it, I was amazed how safe my present was inside. 

how to pack your order

This is something I admire about Good On-line Retailers. They always pack orders to the highest standard. Does this make be buy again with this Retailer even if price is bit higher ? The answer is…Oh Yes !

It is your responsibility to get orders safely to the customer. If you  have been ignoring this aspect of your business, NOW it is time to correct. It is good to go on the ground and put it right. 

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How to increase value of the basket ?

Image Source: Flickr

We all know postage cost is one of the factor that put buyers OFF during shopping. In order to tackle this problem, it is very wise to give your customers value for money with multi-buy options.

Most of the time postage for one and two items are same. It does not cost you more to send and it is good 
value for money to the customer who need your product regularly. Result, increase in the value of the basket. Simple !

Here are few simple steps to carry this out on eBay / Amazon:

– Replicate the single listing
– Suffix title with x 5 ( for example ). This shows multi-buy at first glance.
– Add x 5 to the image (for example).
– Create a Multi-Buy category and assign your listing to this category as second shop category. This will help buyers to find the product in relevant category and helps you analyse your category sales
– Remember to enter EAN in this listing. Most of the products have pack EAN which is separate to single product EAN. This will allow you to list your multi-buy product on Amazon.

Experiment this and don’t be afraid to change the quantity, some products may sell better in 5s and others in 2s.  Leave a comment below how you got on.

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Amazon Strategies

Amazon Price Parity Policy – Can you work around this ?

Image – Last Drop of Ink

I stumbled in an article on “Amazon Price Parity Policy”  by LastDropofInk this morning. It was a good read and recommend you to go through comments section. You will find real juice there !

I am not surprised most sellers are going on with what has been dictated by their Godly Amazon and why not? At the end of the day if no has done anything with their tax issue, I very much doubt anything will be done against this policy. At the end of the day, you would not want to get suspended from one of the most popular sales channel that is helping you to buy bread and butter. Would you?

Suddenly I got the feeling of “ DICTATORSHIP” here without any option than saying “YES SIR”.

I am aware that quite a few experts have given various options however; it is waste of time and a BIG RISK not following their policy. If they have spent time on finding out your price in other sales channel they will certainly find this and suspend you. Then what?

Simply, say “YES SIR” and change your prices. This is very simple do by uploading product inventory file. One thing you could try with few hundred products – Try hike postage price. We all know Amazon Customers are affluent and they don’t mind paying bit extra. Additionally, Amazon Checkout process is setup in such a way that it does not highlight the postage price that often unlike any other checkout process and they have got popular One Click Checkout technology which enable quick checkout taking postage price into consideration.  You can change shipping for your experimental product with “Shipping Overrides” file. See what happens and do the same for the rest. Good luck and please comment your result in this post.

Amazon got a good e-Commerce technology and you got low price products. These TWO gives you optimum shopping experience to the buyers. One thing definitely happens with Amazon’s Price Parity – Sales Growth.

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Amazon Strategies

Amazon Business Report for sales growth

Business Reports by Amazon is an excellent way to track your sales based on time and product. This will give you insight on how popular is your listing, where do you stand on winning buy box, what is the average order value. One of the part of report is “The Detail Page Sales Traffic Time Series” report. 

Traffic: Traffic indicates which products are being discovered most often by shoppers. Products with higher sessions and page views are being found most frequently. In order to increase traffic use appropriate title, provide good item description and include relevant keywords at keywords search listing field. 

Buy Box Percentage: If multiple merchants are selling a particular product, Buy Box Percentage indicates how often your offer is featured when a shopper views the detail page. Merchants who win the Buy Box have a greater chance of gaining the sale. Follow following to win Buy Box win  

a. Low total price, including product price and shipping cost.
b. Fulfil your order on time
c. Keep a low refund rate resulting your error
d. Maintain low negative feedback ratings (generally less than 5%).
e. Maintain low number of A-to-z Guarantee claims.

Conversion: Conversion is a good measure of how often users actually purchase the product that they view. You can increase sales by increasing conversion. Start first with products that have a lower conversion rate than others.
a. Provide complete product content to make a decision.
b. Use promotions “Free Shipping” to increase conversion
c. Provide high-resolution primary image (300 dpi or higher). Include more images if necessary to give customer insight of product look from different angles. 

Order Session Percentage: This is a percentage conversion metric indicating how many orders were generated relative to the number of people who viewed the products. It is calculated by dividing the number of orders by the number of sessions for a selected time period and then expressed as a percentage. This is a good measure to check if your products need revision. 

Product Sales per Order: This is the average order size for the selected time series. It is determined by dividing the ordered product sales by the number of orders for the selected time period. Increasing value shows customers behaviour of buying multiple items. It is best to encourage this behaviour by reducing the cost of shipping.


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Amazon Strategies Uncategorized

Amazon Prime – Brilliant way to lock customers

Customer Retention is the best way to grow your sales over period of time. Customer Retention costs less than acquiring new ones. This is the basic reason businesses try to encourage loyalty. Research shows one of the reason prospective customer do not buy is high shipping cost.

Amazon has cleverly rectified this problem with offering free delivery with minimum annual fee.Amazon’s strategy to lock-in customers with services like Amazon Prime and will help the retailer gain share in the online retail market.

“It also works because it exploits some very simple human psychology. Your best customers enjoy the pleasant, repetitive sensation of profiting from every purchase while your business still nets more money – either from the customer’s greater loyalty, or simply because the revised pricing causes them to spend more on your services overall.”
  Rory Sutherland, Campaignlive

Following Amazon prime strategy will be costly in the short run but will increase sales in a long term.

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Why somethings sells on eBay does not Sell on Amazon ?

Multichannel seller must have noticed what sells on eBay necessarily does not mean it will sell on Amazon and vice-versa. There could be various reasons.   

Ebay and amazon

Familiarity:

Some are familiar with fixed price on Amazon and go for it as they normally do rather than waiting for the bargains on
eBay auctions.  The search results on Amazon are lesser than eBay since Amazon shows result by the product and then you can look to buy from different sellers whereas eBay shows result by all seller and you can decide on various criteria like prices, P  & P, Seller Seller Status.

Buy Box:

There clever “Buy Box” invention works very well on Amazon providing this facility to the good rated sellers with lower price of the item. Buyer buys without having to go through rest of the sellers. This speeds up the buying process. Absence of this facility on eBay may be a good reason when something sells better on Amazon.

Customer Type:

Delivery promise fulfilment is another factor that affects sales. Most of the eBay customers asks “Where is my item ?”
even if dispatch emails are sent and they are made aware on the listing the expected delivery time.  This normally does not happen on Amazon. Probably Amazon customers are more convinced on Amazon delivery time compared to that of
eBay. 

Experience:

Experiences buyers who had negative experience with eBay has good opportunity to switch to Amazon. Unlike eBay
Amazon has their own Warehouse for stock and dispatch orders themselves which is very important factor to build up trust among the buyers.

Product Reviews:

Amazon has user generated product reviews that speeds up the sales thought process resulting sales unlike that on eBay. 

These may not be good reasons for selling on Amazon but the fact is the Amazon is growing more that eBay and don’t forget more stores = more salesIf you can, always try to add sales channel. It does not hurt to try Play Trade, Asos Market Place or eBid.

 

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Amazon Strategies

Amazon Feedback, why is it important ?

Customer feedback is the normal way of checking out the seller. Trust is gained or lost immediately with feedback. For this simple reason feedback is important. Better feedback results better sales conversion. 

It is a fact that 90% of Amazon customer fail to leave feedback.  Most of the time customer are good and leave positive feedback but there are some portion who are dissatisfied and it is always good to pay attention to these customers. Always communicate with customers clarifying the problems. Let them know what is expected. Most of the time negative feedback is received when unexpected things happen. If order processing is delayed, explain why. If there is faulty item offer refund or replacement. It is best to do so as soon as problem is reported. Do not wait till you get the faulty item back. It is obvious that you get positive feedback when you satisfy your customers. I am not denying that you will always get odd ones who leave negative feedback before contacting you regarding the problem. However, you can always reply their feedback professionally.

Amazon feedback is important to win “buy box”. The “Buy Box” is the box on a product detail page where a customer starts the purchase process by adding an item to their shopping basket. Even if your price is higher you will win the buy box provided that you have better feedback. Your sales is maximised ! I came across Amazon Service called “FeedbackFive” which  clever enough to request your customers to leave feedback. Proactive communications can also let your customers know that you care about their buying experience, and can give you the opportunity to address issues before they become a larger problem.

Winning Amazon Buy Box

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Is Amazon another growing sales channel ?

Amazon holds very high expectations for the retailers it approves to sell on its marketplace. Amazon’s high standards, coupled with a great number of data requirements, make this marketplace unlike most and difficult for online retailers to navigate. Amazon’s goal is to put its customers first in order to create the highest quality shopping experience available on the Internet today.

ChannelAdvisor’s customers saw a same-store-sales growth on Amazon of 77% in February 2010 and 75% in January 2010, which proves that online retailers should be priming their businesses to make the most of this revenue opportunity. ChannelAdvisor has identified the best practices to make sure your product listings are not only found by shoppers, but also appeal to shoppers on Amazon. Learn how to optimise search terms, product descriptions, details, images and more to make sure you’re positioning your products to  sell more on Amazon.

Download this White paper by Channel Advisor 

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