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How to Increase Sales on Amazon: 26 Ways to Increase Your Revenue and Amazon sales
- Darjan Hren
Amazon has grown to be the world's largest online retailer, with a market share of over 50% and a revenue of $60 billion in 2016. Amazon also operates an e-commerce platform that connects third-party sellers who sell their products on Amazon.com
How do you increase sales on Amazon? There are many ways to boost your revenue! Here are 26 ways to increase sales on Amazon:
1. Take advantage of Amazon repricing software
it can help you stay competitive by monitoring prices and suggesting pricing changes that will maximize profit.
An example would be if you're selling your product for $20 and it's the third result on Google Shopping results but is 6th across Amazon.
2. List items as temporary or limited time offer
Using a discounted price can help drive more traffic to your listing by convincing skeptics that they need to buy now sharply reduces competition by limiting sales. Think about it: if you list them as a limited time offer, you'll be the only seller.
3. Auction your items to increase competition and minimum selling price
Auctions can work well for low-priced or luxury products that they're unlikely to be discounted on other platforms.
This strategy not only increase sales but also helps establish a minimum sale value in case of large cost fluctuations
4. Utilize backend inventory management tools to lower response times (and increase sales)
While Amazon may have pioneered the use of an online platform for selling mass-produced goods at a consistent standard price, many of the site's customers now work and/or live outside major population hubs that are relatively well catered for by Amazon.
5. Check out your Amazon competition
Researching your competitors is essential when considering any new strategy. Looking at how they're doing can reveal areas where you'll need to tweak something to get an edge.
6. Use backend inventory management tools such as barcodes
Bar coding your products simplifies the process and speeds up fulfillment.
It comes in handy when you've got a lot of different SKU's to keep track of, as well as for fast-selling lines which may require manual monitoring at peak times.
7. List in as many shoppable form factors as possible
When it comes to platforms, listing your inventory on Amazon and Walmart Marketplace is the mainstay.
What you may not realize is that if you sign up to be a seller with Jet, MrPorter or Bonobos, those sales will go through your backend feeds in such a way that it feeds into other channels too:
- Jet can do both retail and wholesale outlets
- Mr Porter has been expanding its wholesale business by partnering with independent retailers who list their stock through their platform
- Bonobos sells to off-price stores including Nordstrom Rack, Macy's Clearance and Belk.
If you sell your products wholesale to other retailers, it's important to keep the same brand name across channels.
8. Reprice strategically for increased Amazon sales
By some estimates over half of all transactions on Amazon come from new visitors looking at items that had a relatively large price change in repricing and not just Prime members who take advantage of free shipping offers.
This means getting your prices right so they can draw these shoppers is a good strategy for you, too.
9. Rinse and repeat: Lather, rinse, ask!
This process is called "scalping" in retail jargon when someone tries to quickly sell an unneeded item as a way of making a quick buck without worrying about its quality.
Sure, some will be unhappy when they discover your low prices on Amazon, but now you have more money to spend on those things that make yours a great store for them!
10. Giveaway an Amazon Prime membership
offer folks who buy your product, a 30-day free trial of Amazon Prime. This is amazing for your business because you not only get someone to subscribe to your prime, but they are likely to buy from you.
11. Offer Discount codes only to those who sign up for your mailing list
This is one way to get people off the fence and onto a buying decision. Share some other ways to increase Amazon sales to get more of those coveted dollars inflow.
12. Offer a subscribing customer the chance to receive an additional 10% off their next purchase if they leave feedback on Amazon
For some reason, folks often feel hesitant to leave good reviews for business owners, but will review much more eagerly when it's in exchange for something. In this way you can encourage your customers to tell others about your store and give them a marketing incentive by doing so!
13. Put your Prime member items in prime positions
Your Prime member items are highlighted on your product page, so you should always group your Prime member items together. Spend a few minutes at the beginning of each week designing how to set up this list/hold these products to increase views from Prime members.
14. Consider adding "product bundles" or "choose-your-own combos"
So for example, if someone comes over to this page and wants Boardwalk Empire and Sons of Anarchy seasons, they can get them both at a discounted rate rather than buying two different things.
This would improve the conversion rate and AOB of that purchase. Amazon does this well and automatically with its algorithm.
15. Products with sale tags in prime positions
This is up to you, but I personally will move my sale products into Prime and Top Sellers' windows. I'm betting that people will come to my page, see the sale price and then find a reason to buy more.
Always think about ways to improve your odds to make more sales on Amazon.
16. Lightbox for more photos on the Featured tab
Get creative! Ask yourself how can this page make it easier or sexier for a shopper to buy your product?
Give them as much information as possible, including a photo of your product and magnify it to make it more obvious that you're selling something.
17. Commissions for Amazon referrals
Get people raising their hands for your stuff and earn 25% on all their purchases purchased from "My Account ".
Referrals are a great way to increase sales on Amazon without broken sweats.
18. More reviews to improve visibility
You need those five-star reviews blasting on every page! You do this by offering discounts and deals through email, Instagram, text messages, or other means to potential customers who leave a high-quality review.
19. Customer-friendly policies
Have an exchange/return policy so shoppers are confident in what they buy. This also helps with the next point.
20. Prompt and efficient customer service
Ensure your customers are happy with their experience by responding quickly and efficiently to requests for assistance.
21. Valuable marketing content in your product detail pages
Consumers want to know about the products they're looking for and they are usually searching for information on manufacturer specifications, customer review, and product manuals.
22. Asking customers to rate your products
It doesn't take long until Amazon prompts you if any of your items need additional ratings, and these reviews will help boost up sales exponentially.
23. “Repricing gas”
Maybe all those hours spent looking for stock doing simple math paid off! You can adjust the price on an item by making a post or bulk update with "Edit Prices". Make sure that every product's pricing is fair to other sellers in the selected category
24. Provide instructions so shoppers can find out how many servings they get per bag or container
This is important if you're selling supplements or nutrition. Your buyers want to know how much they need to consume for a serving."
25. Maintain your inventory
For hobbyists, maintaining an inventory of items is usually a choice that comes with great challenges.
Dealing with successful shoppers who want to return an item brings on even more confusion. Some shoppers choose not to pay the full selling price because your items are out of season or old stock.
Let's set up a hypothetical scenario where your customer accepted and returned 8 pre-owned telescopes at 798 USD. The customer then sells the telescopes for 450% profit to 3 buyers: two at $108 each, while one bought both telescopes for a combined total of 1688 USD."
26. Create Gifs or YouTube videos of your product marketing
Gifs or YouTube videos work differently than product reviews. The clips are often short and sweet, showing off your product in general as opposed to focusing on talking about the specifics of what makes it different from other related products.
- Idea 1: Item Research Sellers should keep a watchful eye for major sales that will create more traffic with increased competition. Keep an eye out for eBay, Half-off deals at Amazon, Black Friday Deals (or Black Thursday) Sales , and finally Prime Day.
- Idea 2: Gifts Make Your Sales Great Offer gift packages or give your buyer the option to purchase an item as a gift, if it is possible for you.
So what are some other ways to increase sales on Amazon?
One of the best things about being a small business owner is that there's always room for more growth. Whether it's your inbox or your overhead – having an ambitious outlook can keep you motivated and help make life-changing decisions like hiring staff or opening up new physical locations.
This is true specifically in the competitive world of ecommerce: revenue can grow exponentially with a few smart tweaks to how you're optimizing your product pages. Ecommerce platform Etsy has been doing a/b testing on their platform which increased sales for their members.
Amazon wants buyers and sellers to not just enjoy the shopping experience with their platform, but also feel good about buying something nice knowing that their purchase helps support entrepreneurs and businesses in a region who would otherwise get left behind by traditional sales channels as these models are fading.
The first step in boosting your sales is by carrying items that are popular and useful.
Obvious? Maybe not so much! Keep your eyes peeled and be sure you sell products that people are keen on using.
Also, it's smart to hire a conversion rate optimization specialist who specialized in increasing sales.
Conclusion and takeaways
With these 26 tips I am confident all buyers will receive revenue.
With the right amount of time and attention given to your Amazon store, it becomes far too easy to see that these 26 strategies actually take little effort in order not only drive more customers to your Amazon page but generate greater margins for yourself!