Tag Archives: Amazon Marketing Services

Understanding Amazon PPC ads

Today’s online portal for e-business and sales is very competitive and vast. Amazon pay-per-click (PPC) ads are an efficient method for brands to create awareness, improve visibility, and increase sales.

AMAZON PPC

Amazon Marketing Services (AMS) is Amazon’s advertising style provided to its sellers. It offers three kinds of PPC ads. They are headline search ads, sponsored product ads, and product display ads. These ads are all suitable for attracting customers and getting conversions done.

1.    Headline Search Ads

Headline Search ads get the most clicks among all the three types of PPC ads on Amazon. They build the most brand awareness as they are displayed on the top, bottom and left rail of Amazon search results. They also feature a customized design along with your logo and headline. It also consists of three products that are click bait.

How to create a headline search campaign

If you want to create a headline search campaign, you should start by choosing the most clickbait page of your ad. Shoppers click on this when they click on your ad. You can choose whichever Amazon Store page you want and you can also customize your own Amazon URL.

Then, you must choose your keywords which are used to target your customers. That way, if a customer clicks on your ad, he will be taken to your page and be given details about your products.

2. Sponsored Product Ads

Sponsored product ads are the most popular ones on Amazon as they bring in the highest amount of sales per click. They increase a product’s search visibility and bring more than usual people to your product details’ page. If you want to create a sponsored product campaign, you must choose the product you want to promote and add all the keywords which will help increase your product’s visibility. You can either do manual targeting, which includes selecting certain keywords for your ad or uses automatic targeting, where all your relevant keywords are targeted according to the product information. So, when a shopper looks for your keywords, your ad will pop up in the display if you win the Buy Box for that product.

3. Product Display Ads

Product display ads are becoming quite popular. These ads help to target shoppers who aren’t sure if they want to buy a product or not. They help in cross-selling and work extremely well for competition and give you a head start. These ads appear on product detail pages, customer review pages, the bottom of search results pages, and many other places. If you want to make a product display ad campaign, choose the product you want to promote and how you want to target customers. When someone clicks on your ad, they are taken to the product detail page.

4. Coupon Ads

If you have active Vendor Powered Coupons, then you can use the Product display ads to promote your products. These ads work just the way a regular product display and do, but the only difference is that they offer a coupon-specific creative. Amazon says that when you choose a product, there will be a notification about the availability of coupons. You can make a choice of advertising the coupon and view the ad before making the entire campaign live.

5. Deal Ads

Product display ads are also helpful when it comes to advertising deals with a limited amount of time. You will be presented the entire campaign process step by step. IT shows you the deals that can be used for promotion. They can be any Lightning or Savings and Sales deals which are under your vendor code. They should be approved and not to end within the next 72 hours.

The designs and logos for deal ads are auto-generated. They don’t have any custom headline or logo images. They show the type of deal, promotional price, and offer expiry date.

Conclusion

Amazon PPC ads help brands promote their pages in each stage. You can’t just set your campaign and forget about it. You need to change your ways, optimize things and target good keywords and products. Only that way, you will get good sales, convert shoppers to buyers and get good profits.

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Know How to Win the Amazon Buy Box

Amazon is the biggest marketplace on the digital platform, one may call it ‘the marketplace’ which rules the e-commerce world on the internet. Sellers and buyers flock the website, alike and if you are a seller on the Amazon, you must be aware you are not the only seller for the particular product type; there are about hundreds of sellers of similar product type. So, imagine the competition.

Amazon BUY BOX race

 

What can one do to beat the competition and move ahead in the number game? Well, Amazon comes ahead to solve this universal problem so that the sellers do not have to face problems on the website. Amazon gives its sellers many opportunities to have a better reach and visibility(provided, they are paid) and sell their wares and products at competitive pricing and profits.

One such sponsored ad facility that Amazon provides its sellers is the ‘Buy Box’. For all those unaware what a Buy Box is, it is the section that appears on the right-hand side of the product information page that allows the buyers to either move the chosen product to their cart or make a purchase instantly.

Why Buy Box?

Buy Box is, invariably, a pivotal tool for the sellers who are looking to sell their products and get higher profits using the Amazon marketplace. When a buyer moves the products from the product information page to his or her cart, they are planning to buy from a single seller, thereby, turning this into buy box winning for the seller.  And the seller is the buy box winner if the buyer makes an instant purchase by clicking the ‘Buy Now’ button.

Since every seller has to comply with Amazon’s rules and policies, getting a place in the Buy Box is a clear indication that the seller is associated with Amazon’s policies. Buy Box, in simpler words, can either make or break the sales of the seller.

Who is eligible to get the Buy Box?

Anyone who has subscribed to the professional sponsored tools provided by the Amazon and is in compliance with Amazon’s policies is eligible to get the Buy Box on Amazon.

How to win the Buy Box?

Everyone speculates about the theory behind the Buy Box when, in reality, no one is really sure about the behind-the-scenes of the tool. Everyone wants to win the Buy Box but not everyone can do so. We have listed a few ways using which you can win the coveted Buy Box.

  • Pricing is the key factor 

Price of a product is what pulls the buyers more than the quality, or the features(granted they are important, but not so much as the price). Having competitive pricing on Amazon will help you in moving one step closer to winning the Buy Box. Keep up with the competitive pricing and also, keeping a check on the rivals’ pricing will help in keeping your pricing in control.

  • Maintain the sellers’ rating

Sellers’ rating on Amazon is of critical importance which has a great impact on your winning the Buy Box. Speedy and efficient delivery, pricing, customer feedback and response, customer care, redressal to the grievances and most importantly, building a good reputation in the minds of the customers is what will help you in increasing the sellers’ ratings and in turn, increase your chances of winning the Buy Box. 

  • Keep the Order Defect Rate at the minimum

More the complaints and negative feedback from your buyers, lesser is the chance of you winning the Buy Box. Forget winning, you might lose the eligibility of the Buy Box on the whole if the ODR reaches 1%. This requires minimum to nil mistakes on your part and better customer satisfaction ratio.

However, one important factor to keep in mind is that nothing is stable and secure in the field of e-commerce platform and one mantra cannot work for everyone alike. Similarly, with the Buy Box, there are many uncertainties surrounding it. Simply keep up your good work, product quality, pricing, customer rapport, and fewer mistakes and you will have better chances of winning the Buy Box.

 

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How One Can Make Use of Amazon’s Marketing to Their Advantage

Grow your business on Amazon

Amazon is simply the biggest and the best e-tailer marketplace over the internet. What’s more, it shifts the burden and responsibility of bringing in the traffic (who are serious buyers) to your product listings. It also boasts of the highest conversion rate compared to other e-commerce sites, says about 15%. This happens since most of the traffic comes with the mindset of buying and the intent is clear since they start looking for the product they want or need immediately instead of simply browsing through the pages (this constitutes about 10% of the total traffic on Amazon).

For the purpose of driving the traffic to your page, you also need to optimize and take advantage of the various marketing tools especially launched by Amazon, both for the benefit of the buyers and the sellers.

Here are a few tips on how you can optimize on the strategies that will help in higher conversions.

  • The Title is what attracts the buyer

Think from the viewpoint of the buyers and you will see that the title is the most important element on your product detail page which is the first thing that will catch the buyers’ attention and pike their interest to come and view your product. Having a catchy title is a must but optimizing on the title by inserting a couple of keywords is what will do the trick.

This will help in better ranking for your product when the search is made. Keep in mind that your title should contain the
– brand name
– special features and characteristics
– product’s name

The main intent of creating a title should be to educate the buyers about your product before they visit the products’ page. In order to get the best possible title, sellers can make use of various tools like the Simple Keyword Inspector, Merchant Words, and Google Keyword Planner. Also, Amazon will recommend the best-suited title for you.

  • Images say it all

Catchy and attractive images will attract the buyers to view your products and also create an interest in their minds regarding visiting your product listing page. Images and pictures that have an emotional quotient work better than anything else. Thus, use HD images for your product listing page.

However, there are certain rules regarding image usage that sellers on Amazon have to follow. Amazon allows only images of the products clicked with a white background since they believe that the images with white background work better than any other images. Also, the image cannot have pictures of accessories that are not accompanied with the product as they can be misleading and misinterpreted.

Invest time, effort and money in getting the best shots of your products, from various angles, special features and product in action in order to attract more buyers.

  • Sponsored Products ads

Amazon offers its sellers some of the most amazing marketing tools that they can avail and optimize in order to increase the traffic to their page and also, subsequently increase the sales. The Sponsored Products ads are the PPC version initiated by Amazon that is product based instead of merchant-based.

The program is created to benefit the sellers where they get to choose the product they want to display, throw in the keywords, have an attractive title and pay the cost only when a visitor clicks on the ad link. The product appears when the buyer keys in the keywords during the search. The buyers are directed to the listing page upon their clicking on the product link.

  • Amazon advertising help

Amazon has rolled out a few marketing strategies that help vendors in attracting more visitors and increasing their sales volumes like the Display ads, Video ads, Sponsored Products ads, Buy Box and more. Their expertise in the e-commerce field gives them an edge over their competitors and gives them in-depth knowledge of how to lure the customers and keep them engaged and have a higher conversion rate and Amazon comes forth to help the sellers and vendors in gaining traffic and business.

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Know the 5 mistakes for a brand to avoid when using Amazon marketing services

Amazon Marketing Services is very important for brands to get people in their stores and achieve high conversion rates. But, once you have launched an AMS campaign, there is a lot of work that needs to be done. You need to monitor your activities carefully and try getting the best possible results.

According to what we have searched, these are the biggest mistakes that a brand can make when they use Amazon Marketing Services.

5 Mistakes while doing Amazon Marketing Services

Here are the 5 mistakes a brand must avoid when using Amazon Marketing Services –

1. Setting up an Amazon Marketing Services Campaign and forgetting about it 

The easy part is creating a campaign and launching it. But, what is dangerous is to assume that extra conversions will happen automatically. If you want to make the most money out of your advertisement costs, you need to examine the campaign’s data and look up all your faults and good parts so that you know what works and what doesn’t.

Amazon Marketing Services gives us detailed methods for reporting for each campaign of ours. After a campaign has been launched and is all set up and running, some keywords and performances are to be adjusted and analysed in order to make more efficient ones.

2. Not paying attention to Automatic Targeting Options

When you use automatic targeting, you do not need to add your own keywords. Amazon does this on its own and targets these ads to whichever customer it suits the most. These ads are sent to relevant customers who want similar products and product information, and this helps you reach your targets well. But, this method depends a lot on how much Amazon’s Average Cost Per Click (ACPC) for ads works. If this is used, then you get more ads when you insert your own keywords. You should also learn which keywords are being used by customers in order to find your products, and then use them in your ads by adding them manually. In the start, it is better to use automatic targeting for at least a month.

3. Not making effective use of the Customer Search Term Report

The AMS Customer Search Term Report lets you know what people ask about your products, all their doubts and concerns regarding the products. This will help boost your keywords. This data helps you find out which search terms are most used by shoppers.

Each brand has a different vision, separate goals. But, they all have common data points that you might want to catch up on and use in your searches. You must keep an eye on the report, which includes impression volume, branded searches, unbranded searches, sales, CPC and CTR. If you keep notice of this, it will help your ads reach the right people with the best ways.

4. Not describing your campaign name properly 

By using Amazon Marketing Services, brands are able to run multiple campaigns at once. You must keep your campaign name extremely descriptive, yet precise. It must let the customers know your product and be clear about it, as well as the ad campaign. Include information like brand names, dates, product descriptions, and AMS ad campaign types. This lets the people know about the products that are being advertised without actually having to click the campaign.

5. Not running your ads for the whole year

You may think that it is better to run ads for the time of the year when it is most relevant, but that is a false notion. You should advertise products whenever you can, as they can be used at any time, by any ad for leverage. If you post your campaigns for a long time, it targets shoppers with your ads and it also helps learn about which keywords and trends work the most. It allows you to figure out what works for your products and what doesn’t.

Conclusion

There is no such thing as ‘perfect’ in an ad campaign. You must use everything you can and every tool that is there in order to make your campaigns as good as possible. Make the most out of Amazon Marketing Services.

 

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7 ways to promote your Amazon listing to boost sales

If you want to become big and sell more on Amazon, you need to improve your game. You must get noticed as a seller and reach a good rank. But you must wonder how to do it? Here are 7 ways to promote your Amazon listing to boost sales. This will encourage your customers to buy your products.

 

Amazon Product listing Promotion

 

1: Get Reviews 

If your product gets good reviews on Amazon, it benefits you such that customers make more buys and better decisions. Every customer depends on product reviews before making a purchase.
But, you need to make sure to ask people to leave reviews. People don’t always know where and when to review your products. Send them emails and links to your page and tell them to drop their feedback there.

2: Improve Your SEO Ranking 

You need to figure out the problems your customers are having and try your best to solve them. You can integrate SEO tags and keywords. They help in increasing your rankings to help build your rankings on Amazon. Using good and relevant play a big role in the ranks and in the sales. You should include the brand name, description, product material, colour, size, and quantity.

3: Be Visual

You need to have catchy visuals to get customers. From text layout to formatting and imagery, everything is necessary to attract buyers. So if you have to take an extra step and give a better shopping experience, you can allow the customers to virtually “try on” the product. This will encourage them to get that product and they will emotionally respond in a positive manner. This gets you buyers who are 100% involved with your products and are more than happy using them as they are fun, creative and good.

4: Do Coupon Promotion 

If you offer discount coupons, it evokes a feeling of trust in your customers. This can attract more sales and land you a #1 rank for your business tactics. It can ultimately work in your favour if you are selling an unknown product. By selling discount coupons, you can get redemption when your sales increase and you get more customers.

5: Increase Online Engagement

Amazon does its own marketing and selling of products. But, if you want to personalise the way you do it, you need to increase online engagement and boost sales. You can do so by giving coupons, posting friendly information, getting appropriate content posted and whatnot. In the end, you can redirect your customers to your store with a link.

6: Don’t Sell Bad Products 

You need to make sure that what you are selling is of a good quality in the market. Customers are the kings of the market and they control everything. Because of that, you need to sell stuff that is cheap and of good quality. If you sell a cheap product, it will cost you your time and money. So instead, you can spend that time selling your good products and improving your sales and ranks. Crappy products lad to bad reviews, refunds and customer complaints. So, it is better if you don’t sell bad products and instead, sell those products that you can be proud of, and you will use yourself.

7: Keywords, Keywords, Keywords

The best ways to improvise sales is by using relevant keywords. You need to at least rank page 3 with your keywords. You should know what to search for, which keywords to target and how to include them in the product listing. For that, you need to keep a natural title, use your keywords properly, add good visuals and make the customers want to buy your product. You need not use any commas when you put keywords into your 5 ‘Search Terms’ boxes. If you need help regarding keywords, you can use tools such as MerchantWords, Google keyword planner, and Amazon’s fill-in search.

Conclusion

These are 7 ways to improve your sales, ranks and product goodwill. This will build your visibility in the Amazon store and help you gain good customers. Once you land a buyer, you need to make sure that he stays at your page for a long time. The last thing you want is a customer who never buys your products anymore.

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Ways to promote your Amazon listing

In this technologically driven world, it’s not easy to flag off new products on Amazon is very difficult these days. The markets are competitive, and if you want to get more buyers, you will have to promote your Amazon listing. You need to promote your product to get more visitors and it will lead to better sales.

Here are five methods to promote your Amazon listing:

1. Sponsored Ads & Promotions

Tips to follow to promote your Amazon Listing Using Sponsored Ads & Promos

  • Choose a Good Product

If you want greater sales, you will have to use the right keywords to attract the most customers. For that to happen, you’ll need a good product that will bring you good customers.

  • Using today’s Deals

Short timed deals are posted on Amazon’s “Today’s Deals”. They can be used to increase the ranking of your sales. The buyers can only purchase one item and Amazon will promote it best.

2. Social Media

Social Media promotes products, gains trust and attracts customers.

 

Promote Amazon Product on social media

 

How to make optimum use of Social Media to Promote Your Amazon Listing

  • Choose your channel

Analyze and pick the best Social Media platform that suits your brand the best. Focus only on that place.

  • Construct Your Brand

Analyze and study competitor brands and learn what they’re doing. Social media is supposed to be fun- draw audience attention to your brand, interesting and social. Keep your audience in mind. Therefore it’s vital to create content that get’s shared ahead- so create content to entertain, educate and convince the audience.

  • Find Social Media Influencers

When social media influencers promote your products, people who follow them are interested and may be looking forward to purchase your products. It’s best to connect and to reach out to the influencers to make promotional deals.

  • Paid Advertisements

Until you have a large number of followers, you will have to run paid marketing campaigns to help gain a good audience.

3. Blogging

Blogs are great places to reach new audiences. It provides information about your products and keeps them updated about your brand.

 

Promote Amazon Product through blogging

 

Tips for Blogging to Promote Your Products

  • Create a Blog

You must build your own blog and write for self or hire a professional content writer to write useful content related to your products.

  • Promote your content on other high ranking Blogs & Websites

Make optimum use of social media influencing and ask other blogs and website to promote your Amazon listing. Run promotional content on other high ranking sites and platforms.

  • Post Regularly

Depending upon the amount of content you post, you will be noticed by various search engines. Take into consideration your audience core requirement and provide relevant content.

4. Build an Email List

Create an email list for your business to improve revenue and maximize customer value.

Make use of these tips For Using Email Lists to Promote Amazon Product Listings

  • Send automated emails to your customers

Using Jump Send, you can send automated email campaigns to your customers and receive reviews and great feedback.

  • Make Your Own Audience

Collect your emails to know how you interact with your customers.

  • Create incomplete perceptions

Provide important but incomplete material. This leaves the audience wanting for more and hence helps you showcase your knowledge.

5. Deal Websites

You can use this place to distribute deals for your products. This helps you in generating sales, getting higher ranking and better exposure.

Know how to use Amazon Deal Sites to Promote Product Listings

  • Find a good Deal Site

Find the best platforms to promote your offers and deals.

  • Don’t give away free stuff

People are always shopping for deals. However, make sure to cover your cost of goods and Amazon fees before deciding on a particular promotion.

  • Check your keyword ranking

Whenever you want to measure the results of promotions you make on social media, you can choose to track your keyword ranking using a reputed keyword ranking site.

  • Follow Up

The customers you receive from your promotions must be given full service and satisfaction. Send those emails, valuable feedback, reviews or even a good amount of sales.

Conclusion

It can be frustrating and a roller coaster ride to launch a product on Amazon and get the needed breakthrough and increase in product revenue. However, once you find a method, you can use it for all your products.

 

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Why are customers not leaving reviews on Amazon?

Getting reviews on Amazon is a very hectic thing to do. You do so much work, from creating your own business online and the customers rarely ever leave any reviews. It’s an unfortunate event. You must wonder why this happens. Here are three reasons why –

  • They Forget

Customers can be very forgetful, and it is not on purpose. It is not an excuse and it does not mean that your customer didn’t like your product. They genuinely forgot to leave a good review. Now if you put yourself into the customer’s shoes – you buy a new product and absolutely love it! Is the first thing that will pop into your head being to give it a good review? You might want your family and friends about it, but that’s it.

The best way to generate reviews is by sending them emails and contacting the customers to gain reviews. This will remind them to put in a good word after their fabulous experience. The customers won’t feel bad, in fact, they will be happy to hear from you as long as your emails are meaningful and you don’t spam.

Review Mail for Amazon Products

If someone has a bad experience with your product, the first thing they will do is to review it on your listing page. This can be very bad for your sales. So this is where your emails help. The customers can review them personally and get their problems solved and it helps in avoiding negative feedback.

If you are active on all your social media profiles, which can also ensure that your customers don’t forget to reply. There are high chances that your customer will see your post and remember that he needs to give a review.

  • They don’t know how to review

Some people who use the internet and Amazon on a daily basis, it is very difficult to process the fact that some people cannot use the internet as properly as we do. This means that some people who purchase your product do not have the knowledge of how to leave a response and where to, even if they really want to. So, it is always better to make things as easy as possible.

Direct link for amazon product review

Since it is your website, your product and your review, you need to make sure that everything is easily accessible. So, when you send an email to people and tell them to leave a review, add a direct link to where they can leave the feedback. This becomes easier and wastes no time. And, that way you can let the customers remain at ease as compared to when you make them find the place to review your product and not be able to find it, hence dropping the entire decision altogether. It’s better to remain on the safer side.

Social media can play a big role in generating good responses. Many people use social media and if you remain active there, it can be of great help to your business and lead to good reviews on Amazon.

  • They don’t have time 

This is one of the biggest problems that affect everyone. In such a speedy generation, people barely have time for themselves, forget having time to click on a website and give a review. And if someone buys something online, it is obvious that they don’t have the time to go to shops and purchase the product themselves.

 

Time saving amazon product review

What you can do is set up an email campaign which it is straight to the point and simple. Don’t add huge amounts of texts as it bores users. They see large sentences and think, “nope, gotta put the phone down.” This is not a good response. Use a punch line which reassures your customer that it won’t be time-consuming to leave a response.  That way, they know that it won’t take more than two minutes to leave a good feedback on your product.

Conclusion

These were the three main reasons why people don’t send their reviews and responses to your products. But, if you follow this procedure, it will become easier to get reviews and hence, it will also help you in increasing the sales of your products.

For any further information on Amazon Marketing Services, please contact us on info@bmconsulting.in. You may also visit our website www.bmconsulting.in to get further insights.

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Amazon Product Ranking: Read on to know how to stay on page 1

Amazon is a marketplace. So when someone searches for something on Amazon, they are most likely to buy it. So how does one get the topmost ranking on the world’s largest retail store?

first page ranking on Amazon

How to get your product to reach the first page of Search?

The better the sales, the higher you are ranked on the page. If you don’t match the other sellers who are on page one, Amazon does not let you be on top. But, there is always another way to do things. You can reach the first page through giveaways and promotions.

Taking help of a promotional site

In order to get better rankings, you will require an audience who is willing to buy your product. Just making a Product promotion won’t be of any use. This is how Amazon helps:

  1. Go on Amazon seller central. Create a product promotion.
  2. Sign up with an Amazon deal site and list your promotion.
  3. Add relative keywords if you want a better rank.
  4. Sales will pour in and your rank will.
  5. If you want to track your product, use Splitly.

Reviews

Reviews are very important when it comes to buying things on Amazon. If you want to remain on the first page of Amazon, you will have to get good quantity and quality of reviews relative to the other products on that page. This will attract the crowd and give shoppers the option of your product. In order to send automated messages to your buyers and asking them about their experience, you can use Jump Send. This will make them come back for more shopping in the future.

Conversion Rate 

A conversion rate is used to understand how the sales of a product actually take place. In order to calculate it, you must divide the number of customers on a page to the total number of sales. Amazon offers a metric called “Unit Session Percentage.” Similar to the conversion rate, this one has only one difference: they don’t divide the sessions into orders. They divide the sessions into the actual units ordered.

Amazon sales conversion rate

Keywords and Relevancy

When people do product searches, they do it on Amazon. They type in the product that they are looking for and relevant results will appear. The best choice is made and the product is bought. If you want to have a better ranking, you will have to control the Search. This is available through keywords and relevance.

With the help of keywords, Amazon gets to know more about what the products actually are, what they are about and where they should be placed. You can use Keyword Scout to start your keyword search. It comes up with more than a thousand keywords that are related to your product.

Title

The most important element when it comes to Amazon products is the title. Each word can be looked up and you will find relevant details. Amazon gives Sellers a limit of 200 characters. These may be used to create product titles which are equally relevant and clickbait enough to make people click your product and eventually buy it.

Product Features 

The information that you add in your product feature can also be looked up by buyers. You have to include every keyword that you want a good ranking for. The bullet field has a limit of 500 characters. But, you must not put too many words in the field or else it looks drabby and can intimidate the customers. The field must be detailed and full of potential keywords You can also include features and benefits regarding the product.

Description

If you want to provide detailed information about your product, this is the best place to do it as you can add extra keywords.

Search Terms 

Sellers are provided 5 fields of 50 characters of search terms. You can use these to drop synonyms or other longer versions of your main keyword.

Subject Matter

You can use this place to add last few keywords to improve your Amazon product ranking.

Conclusion

If you go in this manner, you will have a good rank on the first page of Amazon.

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Tips to develop an effective value-based pricing strategy that works wonders on Amazon

Except for the fact that the customer is king, what is the next most important thing you learn from marketing and business? Those making profits are necessary. After all, wouldn’t you want your customers to pay you the maximum price and help you make the most profits?
But the question here is: How to set a price which is not too less, not too high, which might result in potentially losing sales?

A great way to determine the best price for customers is by the method of value-based pricing. It determines the maximum selling price, which does not lose any customer or sales. This is beneficial as it maintains sales levels and brings strong revenue to the business.

Value-based pricing in simpler terms is how worthy a customer finds a product to be. In this pricing strategy, rather than pricing a product based its net costs to the seller, the seller sets the price according to its perceived value, as seen by potential customers. Value-based pricing has been used for many years in sales. This approach gives birth to great profit margins when there is the short supply of product and hence, the value of it rises in the eyes of the customer. The ultimate goal of value-based pricing is to fix the maximum amount a customer would be willing to pay for the product and maximising your sales and profits.

 

value based pricing on Amazon

 

When you are trying to implement a value-based pricing strategy, you must keep in mind what your competitors are charging for similar products. Do proper research, ask your customers, take surveys and interviews. When new technology comes in the middle, identifying similar products can be a tad bit difficult. They may simply not exist. In such cases, you need to find the next best option you have. You need to know what your customer would buy had it not been your product.

Once you have worked out every detail that needs any additional improvement, you can determine the maximum value based price for your product. You need to identify which features of your product set it apart from those of your competitors. You need to have a unique feature, it could be the services you offer, delivery time, availability of customer service and returns or refunds policy. Such benefits help in providing value to your customers, which can significantly boost sales, profit margin and overall revenue for your business.

Value-based pricing is important as it allows you to charge the maximum price your customers are willing to pay, without losing them. It can be extremely effective when used with a strong marketing strategy.

Sometimes, mistakes happen while ascertaining the price value and putting it forward. Some clients don’t have the product knowledge to truly understand the value of the product and its performance. Some businesses consider that everyone knows everything, which is a common mistake made by them.  They sometimes forget that customers may not know it all.

However, by using effective marketing techniques, the customer can be educated so that they understand the value of the product. Value-based pricing, when executed well, can improve sales rates and the profitability of each sale. Through extensive research, market details and customer relationships, one can determine the maximum price a customer is willing to pay for a product.
Value-based pricing can be used in many industries and for almost every product, What matters most is, how you execute it. The best execution of value-based pricing strategies happens when the price is barely mentioned. What is to be focused on is the particular value of the product to the individual customer.

When implemented with strategies to increase rankings on Amazon, this strategy helps increase profits and grow the business. Amazon’s RANK methodology and full e-commerce digital marketing solutions, help in the same.

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Tips to make optimum use of Amazon product display ads to rank better than your competitors

Amazon is the place where almost everyone is shopping since there is something for everyone. It is a good place not only for the buyers but even for the sellers to market their stuff, create brand awareness and drive traffic. So, if you are not selling on Amazon, trust me, you are losing out.

Amazon has some awesome features that allow sellers to advertise on the e-commerce site with the possibility of higher turnover since the customer’s search products here with the intention of purchasing and buying a product or two. Sponsored products ads, Headline search ads are quite beneficial to the sellers since they work according to the keywords and bring the sponsored products to the first page of the search result pages depending on the searches made.

Product display ads are a little different. It works based on the interest of the buyers and also on specific product type. It appears at different places in the marketplace and prompts the buyers to browse through the products that might interest them based on their browsing history or shopping history.

This advertising feature is available to the sellers through Amazon Marketing Services. All they have to do is select the Product Display option, set the budget, set the target audience, check few more parameters and that is all. They are set to sail.

Now, the sellers are ready with the Product Display ads but this is the easiest part. There are few tips to keep in mind that will help the vendors to be a step ahead of their competitors who are in the same field and may be using one or more Amazon Marketing Services.

Keep reading to know how you can stay ahead of the competition.

  • Know which products should you advertise

As a seller, you must be keen on selling all the products that you manufacture or procure, but when selling on Amazon Product Display ad, keep in mind to advertise only your top selling products or those products that have higher user ratings. If your product has more positive reviews and ratings, it is most likely to sell better than the ones of your competitors as people trust and buy after reading reviews. The better the review, higher the chance of your product’s selling and in turn, you will climb higher in the Best Seller rank, which again gives you an edge over your competitors.

Target Product on Amazon

  • Know which other products should you target

Selling your own products requires targeting those competing products. Identify the competition and evaluate your product’s strengths and weakness with that of the other competing products. It would be a mistake to list your products in the listing where it stands no chance of selling. Know where your strong points lie and advertise based on those strengths.

As a seller, your only focus should never be on selling but also on creating brand awareness and reaching out to the customers about your existing and upcoming products line. When you target other products, the higher the number of times your ads will appear.

  • Know how to create interest for your products

The best way to create interest is to narrow down your target. Understand who your target audience is and what do they want from the products. Since, keywords don’t work here, understand the buying preferences of the buyers and create interest for your products by targeting the audience whose interest meet your product description.

Product Description on Amazon

Also, being specific with the product description will help in narrowing down the target audience for the product. Although, you are not using keywords, jotting down the ones that pertain to the products will help in narrowing down the customer base even further.

This narrowing down approach will help you the perfect buyer for your product who was not aware of the products’ existence in the first place and you will be able to reach out to the potential customers easily.

By narrowing down the potential customers’ list, you will be able to find the customers who shop for or look for similar products on Amazon and you will be able to reach them and interest them with what you have to offer.

For further assistance on Amazon product display ads, please feel free to contact us on info@bmconsulting.in. You may also visit our website www.bmconsulting.in for more information.

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