As of March 2017, 183 million users visited Amazon’s websites per month. That’s a lot of people searching for products, interacting with the marketplace and selling things. Tapping into Amazon’s seller central tools, management, and distribution can scale your store.
If you are in eCommerce, digital or tasked with selling any products/services, you need to pay attention to Amazon; they are scaling their Seller Central network and most likely will be opening it up to a lot more 3rd party integrations. This is the future of retail, tapping the massive reach of Amazon, leveraging their tools to drive sales, inventory planning, paid advertising, seller forums, coaching, and performance.
Personally, I prefer Seller Central over Vendor central because there are fewer fees, more control, better pricing, MAPP pricing, inventory control and brand leverage with seller central. Your dashboard has ten widgets that instantly give you insights into what is happening with your products, helps you manage the overall performance of your store and manage your content. Any business can pay for a professional account ($39.99) and get started pretty quickly. Remember, this isn’t your brand eCommerce site; it’s Amazon. When thinking about a pricing strategy for Amazon, AMZ Tracker has some simple tips they have explored:
If you have a rational product (like household cleaner/door knobs/etc.), add cents to the price. If you have an emotional product (like shoes/clothing), take cents away. (flat pricing)
Customers perceive pricing differently:
- Prices ending in $.00 – premium ($35.00)
- Prices ending in $.95-99 – good deal ($14.95)
- Prices ending in $.85 – even better deal
View more in-depth “how-to’s” with AMZ tracker article
Manage your store wisely, respond to customer reviews, pay attention to your performance (0-100) as it will dictate your placement of your product, manage returns and have quick customer service. These all add up to additional revenue streams, access to millions of people daily and a strong strategy.
When piecing your marketing and eCommerce strategy together, don’t forget the power of Amazon. When leveraged correctly you can add and sell tons of products and gain access to millions of customers.
Here is a quick breakdown of the strategy:
If you are already established (think Nixon watches), then dedicate a line or two, with an excellent pricing target ($99-$120) and launch it on Amazon only selling this line. Test the waters and drive access to these users. Once you are selling and managing these products, use the sales to interact with the customers, sending them thoughtful post-purchase emails, introducing them to the lifestyle of the product, driving them back to your brand site or social to continue that conversation.
If you are a newer less established brand (think Allbirds), then leverage this to access millions of people, manage strong pricing and content strategy, using the performance tools to increase sales and A+ content, driving customers to your brand site, but the smooth experience of a trusted partner (Amazon).
Remember, most people will find your brand site, your eCommerce store, see your marketing or retargeting ads and then go search for you on Amazon (we have all done it too), check out the ratings of the products, price shop, etc. You need to stay ahead by controlling this experience.