Seven Tips to Maximise your Q4 Amazon Sales
The prime selling period on Amazon is now upon us, with lockdown situations around the world pushing more and more people to online shopping as Christmas approaches.
The fourth quarter (Q4) is always a traditionally strong period for online business and can often define a company’s profitability for the year.
This year, with Covid-19 still badly damaging the high street, opportunities could be greater than ever.
Here Thompson and Holt’s managing partner Craig Gedey present seven key tips to maximise your Amazon sales during the Q4 period.
1 Fully Audit your Listings
“This is good practise at any time but can be particularly helpful in preparing for the busiest time of the year. If you experience a surge in orders of your products, you need to be able to turn those into sales quickly. Pull down the detailed sales and traffic report for your product and look at the unit session percentage, which is fundamentally your conversion rate at Amazon. There are also tools such as Sellerly and Splitly to test your product listings, while Amazon itself has a tool, “Management By Experiments”. At the moment that is limited to your A+ content but it could be expanded in the future. You can also use the data in the Detailed Sales and Traffic Report by Child to identify changes in page views, sessions, and conversion.”
2 Analyse your Keyword Ranking
“Identifying which Keywords work for your product is crucial on Amazon. You need to use specific Keyword phrases that have enough search volume to bring in new buyers, bring in the highly relevant buyers, and create conversions to rank on the first page.”
3 Check on your Supply Chain
“Again, if you’re about toe experience an upsurge in orders, you need to be able to deal with them. With various issues for businesses and suppliers all around the world at present, delays can be inevitable, and you need to get ahead of the game if it’s going to compromise your ability to deliver. Allow extra lead time for restocking your goods and be proactive in tracking the availability of all the supplies you need to fulfil your product. It’s also not a bad idea to monitor your main competitors to determine if they run out of stock - that could present opportunities for your business. If it does look like you may run out of stock, reduce your ad spending, remove any discount codes and consider increasing the price of your items - although not to the extent where it will trigger Buy Box suppressions.”
4 Make sure your Logistics are in good health
“This year more than ever there have been issues in warehouses for Amazon businesses around the world, especially at times when lockdowns have been in place. With Christmas coming up that could get worse, extending the amount of time it takes to restock, and in several cases Amazon has limited storage for Sellers while supplying products such as PPE. Strategies that can help include avoiding Less Than Truckload (LTL) shipments which can take longer for Amazon to receive, and look instead to Small Parcel or Full Truck Loads for shipping. It is also worth considering being able to move to merchant fulfilled orders and having stock available yourself in case there are FBA issues, as a short-term precaution. Analysts have seen that, at the height of the lockdowns, many MF offers sold even better than FBA offers because of delays at Amazon warehouses.”
5 Analyse your Advertising Strategy
“It’s recommended that you start ramping up your ad campaign well before peak season - as much as three months. That might be too late for this year but is certainly worth bearing in mind for 2021. What you can do now is make sure you’re utilising effective keywords and employing multiple match types. Keep a record of what is and isn’t working for you.”
6 Review your Cash Flow
“This is another area that should be part of your year-round operating practice. But it takes on extra significance at this time of year when you could have issues with your supply chain and stocking. Having solid cash flow at difficult times can be absolutely crucial - don’t overstretch yourself and jeopardise your ability to continue selling moving forward.”
7 Monitor Your Account Health
“At Thompson and Holt we know as well as anybody how damaging being suspended during peak seasons can be for Amazon businesses. You can be proactive in avoiding this. Make sure you monitor your shipping performance, policy compliance, customer feedback and your order defect rate. If you do find yourself suspended, contact Thompson and Holt for the quickest way to return to selling online.”
If you have found yourself suspended while selling on Amazon, contact Thompson and Holt for a free LiveChat to get your Seller business back online as quickly as possible.
Thompson and Holt are also offering a free months trial of their Monitor and Protect service to help sellers prevent a suspension of ASINs or an their account during the COVID pandemic, more information on how to protect your Amazon seller account from a suspension can be found here.