Three crucial tips to winning on Amazon in 2021
As Amazon continues to experience growth and ecommerce develops further amid the global pandemic, more and more business are looking to profit from selling on the site.
But while Amazon undoubtedly provides rich opportunity at present, simply signing up and sitting back to watch sales roll in is far from reality.
Craig Gedey was an experienced Amazon Seller before helping to establish Thompson and Holt, which specialises in reinstating those suspended from the site as quickly as possible. When asked for three crucial tips to winning on Amazon, these were his responses.
1. Make full use of the “seasoning period”
Thompson and Holt’s Craig Gedey: “This is the 90-day period when you first launch your Amazon Seller account. The myth that you simply join the start and watch the money roll in quickly becomes a reality for many, because when you start, no matter what your business background elsewhere, you effectively have zero credibility on Amazon. Because of this, use the early days of selling on the site to ensure a positive relationship with Amazon by making sure you abide by their terms and conditions. Then also look at using a strict ‘listing schedule’, which outlines the exact days you are able to list a product from the moment your store is up and running until the end of the 90 days. As your account grows, you can list products more frequently, but you don’t want to exceed listing a certain amount of products daily if you want to attain proper credibility.”
2. Understand how to win the Buy Box
Thompson and Holt’s Craig Gedey: “This is crucial in directing sales towards your Amazon business. The Buy Box is the box that says ‘Buy Now’ or ‘Add to Cart’ on the listings, and can significantly improve the performance of a product. There are four factors that Amazon looks at for its Buy Box algorithm - Price, Shipping Time, Fulfillment Method and Seller Feedback. The key is finding the correct balance - your product might be listed as cheaper than a rival, but if your shipping time is longer because they are using Fulfillment by Amazon (FBA), they may win the Buy Box both because of that speed of delivery, but also because they are paying Amazon more fees. It’s worthwhile reading as much information as possible on exactly how the Buy Box system works, and there are now software programmes that can help you be successful in winning it - it has become that important on Amazon.”
3. Use automation services for routine tasks
Thompson and Holt’s Craig Gedey: “Mention of software programmes has further relevance. Once your Amazon Seller account is achieving a consistent sales rate, there are several processes that you can automate to increase efficiency. Amazon itself has several automation services, but there is plenty of competition from software companies that could help your business. Again, take time to research the programmes that will best help your business, because it could help free up vital time to expand in new directions.”
Worried about an Amazon suspension?
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.