So you’ve got your goods listed on Amazon, but why are they not selling? Listen to today’s podcast as Brad covers what goes wrong when people start selling on other marketplaces like Amazon and what you can do as a brand owner to ensure your success. If you sell on any other marketplaces, this is a must to listen to.
Howdy. Brad Younger here from Shiny Button and welcome to today’s podcast episode. This is episode number 3 and I’ve titled it, Amazon Won’t Grow Your Sales
For You. It’s pretty much how people will get up onto these marketplaces and expect that they’ll just start getting sales. More often than not, just sales just will not come to them and they wonder why. Although I’m going to be focused on Amazon, these rules might apply to any other marketplace that you might list on.
So, like I’d mentioned just in the intro there, most people, particularly when it comes to Amazon, will look at getting their products up. They’ll get their basic store listing done, probably set the price of the products to the full retail price and then start to hope that they get some sales in and then get really annoyed when there’s either slow sales or even, sometimes, no sales if you don’t get things right.
So why doesn’t that work for you? There’s a couple of things and specifically to Amazon. But the first thing is just knowing the rules of the marketplace and knowing how to set things up so that you can get in there and get more sales is very important. So make sure that you get a good understanding of how you should be listing products, and how the marketplace works and how they bring in people so that you can get in front of more people and more chance of buying.
Specifically to Amazon, we see that products just never make it to the buyer box. The buyer box is the product that gets show prominently when you’re looking. Say, if you’re competing with exactly the same product, say it’s a particular type of tennis racket, if somebody’s searching for that particular racket, then the results screen will have … the buyer box will come up with the seller that’s showing off specifically and then on the right hand side there’ll be list of other sellers who are selling that same product. So, if you never get in that buyer box, chances are very high that you’ll never make a sale.
Particularly with Amazon, there’s three things that we see people are getting wrong and not getting in their buyer box and not getting [inaudible 00:02:26] their products listed. Those three things are slow fulfillment. So, if you’re taking your time getting products fulfilled and getting them out the door, that’s going to severely impact your ability to be shown on that first page of results.
The second thing is high prices. So, setting the … This is specific to Amazon. You’re out there to compete in a big marketplace there, you need to be making sure you’re setting pricing based on that environment. Don’t just go out there with your retail cost. If it’s a competitive product you may need to compete on price. If you don’t want to do that, then you may need to compete on value. So you’re doing some value adding to the product.
The other thing we see wrong is having none or negative feedback. Again, this will happen over time and it’ll build up. You’ve got to do everything that you can to get reviews into the products and get those products being talked about so that you’ve got more chance of having them listed into buyer box and also into that other seller’s list.
So, what does work then? Particularly for Amazon and for other marketplaces, like I said, the number one rule is to make sure you understand what is required of you to get those products listed and get them promoted well on each of those products. If you don’t know what those rules are, I suggest you block out some time this week and get a good feeling for what it is you need to do to become successful on that particular platform.
Consider the impact of good fulfillment. Have you got a good fulfillment process? Does it take awhile for you to get the tracking IDs back into the platform and get them marked as shipped? If it does, I’d suggest you look at automating as much of that as possible. We’ve got tools and we’ve got other people’s tools, like Ship It, who are really good at getting the fulfillment process automated so that within however long it takes … Generally the fulfillment can be done within minutes of an order coming in, if you get it right, then you can pack and send out the products.
So, be sure to review your tools and your processes there around your fulfillment, and they help you meet the requirements of selling on these marketplaces, specifically Amazon. Be sure to embrace the rules, don’t fight them. Just say, “These are the things that I need to do to make myself successful on these platforms.” Share them with your staff members, make sure they understand the importance of embracing these rules. If you follow these rules and make sure they’re a part of your every day processes and you embrace them, you’re going to see a lot more sales coming in, which is the end result that you’re after.
So, take action now. Go off and read everything you can about how Amazon works and what you need to do to get your products listed. Consider, particularly with Amazon, a big help would be consider using their FBA service. That’s the Fulfillment By Amazon. Have a look at their costs and see if you can cover the costs with your margins. If you can, you’re going to have a better chance of selling on the Amazon platform. If you’re using Amazon’s products, they’re obviously going to help promote those products over people who aren’t using it.
The last thing is to just create a really good project management approach. I’m going to be creating a product tracker, so be sure to download that product tracker.
Really hope you’ve enjoyed the episode. Have a great day.