Summary
- If you are looking to sell on Amazon, pay attention to this trend.
- We took 18 businesses that were not on Amazon and added them.
- Initially, you may see your website sales decrease.
- However, from month seven onwards, total sales, including Amazon sales, usually increase.
- This is called the “Amazon effect” as being on Amazon increases your company’s visibility.
- Amazon drives five times higher brand awareness than any other online retailer.
- You can’t ignore the impact of Amazon on your business revenue.
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How To Take Action
Action Plan for Selling on Amazon
Step 1: List Your Products on Amazon
I would suggest starting by listing your products on Amazon. It is easy to do and can be done with minimal cost. Just set up an Amazon seller account and use the Product Listing Tool to add your items.
Step 2: Monitor Sales Trends
Initially, you may notice a decrease in your website sales. This is normal. Track your sales regularly, but remember that from month seven onwards, you should see an increase in total sales, including Amazon. Keep a close eye on both Amazon and your website sales to understand this trend.
Step 3: Enhance Product Visibility
Amazon can significantly boost your brand awareness. A good way to leverage this is by optimizing your product listings. Use high-quality images, detailed descriptions, and relevant keywords to make your products more discoverable.
Step 4: Use Amazon Analytics
Amazon provides tools to help you analyze your sales data. Use these insights to understand customer behavior and refine your marketing strategies. This can help improve both your product positioning and overall sales.
Step 5: Advertise on Amazon
Consider using Amazon’s advertising services. Sponsored Products and Sponsored Brands can drive more traffic to your listings. Since Amazon drives five times higher brand awareness than other online retailers, this can be a high-value, low-cost investment.
Step 6: Diversify Your Inventory
Gradually add more products to your Amazon catalog. This will help attract different customer segments and increase your overall sales.
Step 7: Engage with Customer Reviews
Monitor and engage with customer reviews on Amazon. Positive reviews can boost your sales, while negative reviews give you valuable feedback for improvement.
Following these steps can help you take advantage of the “Amazon Effect” and grow your small business, entrepreneurial venture, or personal brand efficiently.
