As e-commerce thrives in today’s economy, the Amazon marketplace has become increasingly competitive as people use this website as their go-to for almost every item that they purchase online.
As an Amazon seller, it is time that you put some serious thought into increasing your sales velocity.
What is Sales Velocity on Amazon?
The number and dollar amount of a seller’s transactions throughout any given month is defined by Amazon as sales velocity. It is also the confirmation that other buyers identified product matches based on the same exact search query.
The more Amazon sales you make, the higher you will rank as a seller. This means that sales velocity is critical to success: if you’re not at the top of search results pages, you’re not going to win the inquiry. Sales velocity is influenced by the things you sell and buy.
Here are 13 ways to boost your Amazon sales velocity in 2022:
1. Ensure your listing is perfect
A bad or erroneous listing can cost you a lot of time and money on Amazon. The most basic way to boost sales is to ensure that your listing is spot-free. Review it quite a few times and make sure that all the technical criteria are met.
2. Find out about your target customer base
Amazon draws a wide spectrum of customers with various demands and search objectives. As a result, it’s beneficial for your business to review your target customer and undertake extra research into their interests, demands, and pain areas.
3. Pay attention to keyword research
Success on Amazon is greatly influenced by keyword research. Once you’ve identified your high-value keywords, you can learn how to use them across your profile page to showcase your items.
Look for all other keyword possibilities, especially long-tail versions of your core keywords. You may receive more organic traffic by ranking for more relevant keywords. While you may manually explore keywords, having a go-to keyword research tool is beneficial. It can save your team time and deliver high-value keywords that they might not have considered previously.
4. Keep a check on your competition
A competition assessment may provide you important insight into a company’s keyword strategy as well as their approach to Amazon advertising and marketing.
It’s important to note that your competitor analysis should not be focused on emulating your competitors’ strategies. Instead, you want it to complement your own. As a result, your strategy will be more effective than your competitor’s.
5. Take the help of Fulfilled By Amazon (FBA)
The Amazon Prime seal of approval is a symbol of confidence among customers. When someone sees Amazon Prime associated with your goods, it removes some of the uncertainty surrounding the purchase decision. Make use of FBA to ensure that your items receive the Prime label and, as a result, a larger percentage of sales.
To maintain your FBA privilege, you need to ensure that you have a good Seller Metric — that is, your product must have a high reputation for dependable inventory that is delivered on time in order to qualify for Prime Shipping.
6. Split-testing must be done at regular intervals
When running a split test on your website, you often choose a certain piece and generate two or more editions of it to test in order to determine which option is the best to continue forward with. You may perform many tests on photos, titles, descriptions, and price.
To be effective, tests must be done on a regular basis, with the end aim being improving metrics such as click or conversion rates.
7. Aim at winning the Buy Box for your product
This is the part of a product listing on the right side with the “Add to Cart” icon. Customers who click on the Buy Box place orders with whoever “owns” the Buy Box. Under the category “Other Sellers on Amazon,” all other sellers of this product are listed below.
Winning your product’s Buy Box is one of the most suggested tactics for improving your Amazon sales. More than 80% of purchases are made through the Buy Box, indicating that most customers don’t bother browsing at other vendors before clicking “Add to Cart” and making their purchase.
You must first match Amazon’s requirements if you want to raise your rating and enhance your chances of winning the Buy Box. For this, you will need to keep a check on fulfilment processes, product stock, product pricing and also your account’s health.
8. Write useful product descriptions
Most of the time, sellers forget to put a description which often ends up in them incurring a huge loss, or even customers flocking to other sellers. To avoid this, make sure your product has a captivating description.
Make sure your description is both accurate and thorough. Emphasize your product’s distinctive characteristics and functions, as well as its competitive advantage. Include your major keywords as well, so you may increase your search engine rating. Consider your product description to be an extension of the characteristics of your product.
9. Product reviews are a must
Purchasing behavior is heavily influenced by customer reviews. Many shoppers examine product reviews before deciding whether or not to purchase. And, because the review rating and total number of reviews are shown in the search results page, they have a huge influence on whether or not a customer clicks through to your listing. They give social proof, which is critical for getting over objections from customers and closing purchases.
You must have a strong review management plan if you want to enhance your Amazon sales. When you realize that you have closed a sale with a happy customer, make sure to instantly bag a good review.
Respond to customer reviews – good or bad. Thank them if they like the product; if they don’t, reply and see what you can do. You may transform an unhappy consumer into a satisfied one by taking proactive measures.
10. Use Amazon’s Branding Tools
If you want to enhance your Amazon sales, you should sign up for the Amazon Brand Registry. This provides strategic brand protection for your business. It instantly eliminates any content that infringes on your brand or promotes false information about your brand.
Amazon wants strong, well-known companies to sell on its site. As a result, they’re providing these businesses with the tools they need to better their customers’ buying experiences. These tools assist you in increasing your brand’s exposure and awareness, which leads to an increase in sales.
11. Run promotions
Promotions benefit your whole business by increasing brand recognition, retaining existing consumers, and attracting new ones. it’s also an excellent way to get rid of old stock.
To increase sales, consider including coupons on your item or conducting a Lightning Deal. After your deal is ended, the momentum from your promotion may frequently lead to an increase in organic listings and sales.
If you want to boost your sales but can’t discover any possibilities on Amazon, consider running off-Amazon external promotions. For many Amazon merchants, Facebook and Google Ads are unexplored traffic sources.
12. Run product audits regularly
In order to routinely review your product, you must not only go through your own listing but also review similar listings posted by competitors. With this realistic strategy, your company can create a plan for enhancing and optimising your products, which may help them rank higher in search results, making it simpler for customers to locate and buy your items.
Take a look at ratings, reviews, keywords, product descriptions and images – to make sure that they are in place.
If you diligently apply these 12 tips for increasing your sales velocity on Amazon, it is a matter of time before your selling potential on the website will be on the rise. I hope you found this article useful!