1. 5x lesser-known ways Amazon Prime Promotions stick a rocket up your Sales
Aside from the very obvious (sales), there are lots more benefits to be enjoyed by Sellers who participate in Amazon Prime Promotions, whether that’s Prime Day itself or the upcoming Prime Big Deals Days on October 10-11. Here are 5 of the best…
1. The Halo Effect
Just as good as it sounds, the halo effect is where Prime event participants see their sales boosted for long after the event has ended.
Because that deal you offered that brought all those short-term sales has also fired your product up the rankings and pumped up your sales scores – keeping you in the category best-seller line-up for a long time to come.
2. The New People
Prime Day attracts millions of shoppers, and some of them are sure to be new to your brand and your products.
By offering good service and product quality on Deals days, your brand can potentially secure a whole new army of converts to your cause.
3. The Stock Clearance
Is there a better time to clear out excess inventory than a Prime Deals event?
Shifting overstocked or slower items at discounted prices can help reduce storage costs and free up capital for new inventory.
4. The Reviews Boost
Don’t miss the opportunity to enhance the benefit for your brand even further by following up with reviews requests after the event has finished.
5. The Invaluable Data
If you’ve followed us for any length of time, you know how much we love data – and Prime Days are prime times (sorry) to gather some incredibly valuable info on customer behaviour and trends.
What can you use it for?
Like all data, timely analysis will help you drive better decisions across the board – from your inventory management to your pricing and marketing strategies.
Missed out on the upcoming Prime Big Deals Days?
Our PPC experts say you should look to hop on the increased Amazon traffic by increasing your Sponsored Products and Sponsored Brands presence.
And don’t forget to speak to our team to get your strategy in place for other upcoming events.
2. Freshly Forged just for you – our Amazon Growth Guide for Mid-Market Brands
If you’ve established your presence on Amazon but just know there’s loads of untapped potential for the taking in your category, we’ve got just the thing for you…
Amazon is a selling powerhouse with unparalleled growth opportunities for mid-market brands in all sectors.
But how do you begin to unlock all this latent potential?
If this is you, head over to our latest insights piece.
In it, our team of marketplace veterans have offered up some of our proven strategies, insider tips and best practices – all designed to help businesses like yours achieve the exponential Amazon growth you crave.
- Increasing your market share
- Optimising your existing presence
- Designing a winning strategy
- The importance of real-time data
- Our very own, tried-and-tested Growth Framework
And much more – including what can come next…
3. Data-Driven Insights coming to your Amazon Toolbox
Newly enhanced Customer Sentiments Insights hold plenty of promise for innovative brands developing new products…
Announced at Accelerate (Amazon’s annual seller conference) earlier this month, the marketplace has revamped its data toolkit to equip Sellers with a few potent new tools – our pick among them being the proposed improvements to the Customer Sentiment Insights tool.
Meet the all-new Customer Sentiment Insights tool
Developing a new product line?
The overhauled Customer Sentiment Insights will be like manna from heaven for your brand; its category-level customer feedback designed to arm you with the knowledge you need to create something with real sticking power.
The new features take feedback on existing products from reviews and returns to pinpoint what’s driving satisfaction and customer complaints, allowing product developers to build in more of what’s wanted and less of what’s not.
Other improvements to the tool include the ability to…
- Select different time periods for analysis
- Access localised data
- Analyse trends over time; and
- Benchmark customer sentiment for products against category best-sellers
New product development can pose a daunting challenge for brand owners. To rise above these obstacles, specific customer insights become one vital key, unlocking critical information about the target audience.Ben Hartman, Vice President, Marketplace, Amazon
When – and where – will this be rolled out?
The shiny new insights tool will be rolled out simultaneously to the US, UK, Germany, France, Italy and Spain before the end of the year, with Japan to follow soon after.
Want to explore how you can maximise these data-driven insights for your brand? Speak to our expert team today
4. One year in, how is Amazon “Buy with Prime” getting on?
It’s around a year since Amazon announced Buy with Prime (BwP), which allows merchants to offer all the convenience and trust of Amazon Prime as a checkout option on their own website. So, 12 months in, how’s it going?
At Accelerate, Amazon revealed that all is rather rosy in BwP land, with stats showing the initiative is helping brands of all sizes to acquire and convert shoppers.
In fact, Amazon cites a whopping average increase in shopper conversion of 25% for brands using BwP.
Seeing a 40% jump in conversion was astonishing to us. After adding Buy with Prime, we saw an immediate conversion lift, which is what any marketer, any brand, any company wants. It helps us carry out our mission to reduce single-use plastic water bottle pollution.Oliver Crane – Chief Operating Officer, Epic Water Filters
This initial success has seen Amazon introduce a few new features too, so let’s take a closer look at what’s on offer now…
Buy with Prime Cart
Initially, BwP shoppers could buy one product immediately – like Amazon’s “Buy Now” button.
But we all like more choice than that, so Amazon rolled out a cart functionality that allows customers to purchase multiple items in one transaction.
Amazon says that merchants using BWP cart experienced a 15% increase in units per order – as well as knock-on fee reductions that come with Amazon being able to ship multiple items at the same time.
Buy with Prime Assist
BwP Assist lets merchants offer 24/7 customer service support through Amazon at no extra cost – a real-time chat feature that answers shopper’s questions about shipping, deliveries and returns.
Amazon quickly partnered with No1 eComm platform Shopify, making integration as quick and easy as possible.
Now with a native integration, BwP for Shopify uses the merchant’s existing Shopify settings, customisations and 3rd party apps, keeping all of the merchant’s valuable business info in their Shopify admin screens for ease of management.
Because BwP orders are fulfilled using Amazon Multi-Channel Fulfilment (MCF), all inventory for both the site and the marketplace itself is held in one place within Amazon’s massive network – speeding up delivery times by keeping stock close to shoppers and helping reduce out-of-stock rates “by an average of 13%”, says Amazon.
Is Amazon Buy with Prime right for your brand? Chat it through with our expert team today.
Crack the Amazon Profitability Code with our Margin Mastery webinar – now available On Demand
Missed our recent “Margin Mastery” webinar?
Don’t worry, you can catch up now on our website – just click here to watch on demand.
What will you learn?
Venture Forge’s very own Andy Banks and Jonathan Newton were joined by Jim Mann, VP Europe at Getida, the hidden champions of recovered Amazon charges, to crack the Amazon profitability code.
In this invaluable hour, they covered:
- Pricing strategies that spell profitability IN CAPS
- How recovering hidden costs is the key to boosting your bottom line
- First-hand stories of brands who’ve rewritten the rules of marketplace margins
Don’t miss this deep dive into the mysteries of profit maximisation!
Want to explore how best to maximise any of these opportunities for your Amazon business?