Competition to get your products in customers’ carts on Amazon sales can be fierce, as Amazon sellers know all too well, especially as interest in selling on a 3P marketplace grows.
Improve Amazon Product Listing
Product listings are the first bits of information that prospective consumers view, but they’re also where the majority of a product’s SEO leverage comes from.
Optimizing keywords for your Amazon product listings can help you increase sales. Amazon determines and prioritises SEO based on seven elements to assure success:
- Product names
- Product information
- Product photos
- Keywords for backend search
- Product costing
Although manually updating and enhancing these seven elements is possible, it adds a significant amount of technical cost and effort for sellers and their teams.
Rather than constantly keeping up with market circumstances and trends in order to adhere to ever-changing best practises, consider using a technology solution that automatically adjusts rates and proposes keyword modifications for you.
Obtain Feedback after your Amazon Sales
According to Statista, 70% of internet customers read between one and six customer evaluations before making a purchase. Strong evaluations of your items are an important and necessary resource, especially as buyers increasingly choose word-of-mouth reviews and positive feedback from peers over traditional advertisements.
Ask satisfied customers if they would mind submitting a review of their experience with your product online. Encourage people to be truthful – buyers are becoming increasingly adept at identifying bogus reviews, so it’s critical that the feedback is real.
Protect Yourself from Competitors
Previously, only resellers competing for the Amazon Buy Box could use AI-powered pricing technologies.
ProductSphereTM employs AI and machine learning to create a holistic map of sellers’ competition for each individual SKU, allowing you to see exactly which sellers you’re competing against at every level, reprice your products competitively in accordance, and provide detailed reports on how your products are performing over time.
The price strategy for each SKU is determined by your specific goals, which range from profit maximisation to product liquidation. ProductSphereTM then changes product pricing in real-time based on market conditions, guaranteeing that merchants never miss a sales surge or product demand opportunity.
Utilize Automation for Pricing
Market conditions are continuously changing in a dynamic marketplace like Amazon. However, far too many retailers continue to change their product pricing only once every three months.
Sellers need an automatic means of altering their product pricing so that they constantly show up in the Buy Box and reach prospective consumers before their competitors’ items do in order to really stay competitive, grow sales on Amazon, and keep on top of fluctuating market circumstances.
This is where repricing software comes in: an algorithm-powered solution that automatically reprices items depending on key profit indicators.
Find the Right Keywords for Amazon Sales
When it comes to items appearing in search results, using keywords is a must. Even the best-produced commercials will be ineffective if your product information lacks the necessary keywords.
AI uses automated keyword harvesting to ensure that your ads and product information use the most appropriate keywords for a seller’s products, ensuring that your products appear on the first page of prospective customers’ searches.
Concentrate on Inventory
How well do you comprehend your present inventory?
Competitive Amazon sellers should have an up-to-date picture of their inventory performance from all competitive aspects, including competing, complimentary, and replacement.
When we think of product rivalry, we usually think of competing items: products that satisfy the same customer demand as yours and are functionally equivalent. Price and brand loyalty are the most common factors influencing this battle – imagine Nike vs. Adidas.
Complimentary items are not the same as what you sell, yet they are in the same category. Like shoes and shoelaces, the demand for one impacts the demand for the other. While alternative items are not identical to your product, they serve the same purpose and are thus equivalent to your consumer, such as tennis shoes vs. running shoes.
Understanding how your products compare to all of these levels of competition can help you price and sell them appropriately, and AI is critical to properly understanding this whole competitive environment.
Optimizing keywords for your Amazon product listings can help you increase sales. Price and brand loyalty are the most common factors influencing this battle – imagine Nike vs. Complimentary items are not the same as what you sell, yet they are in the same category.