What is the Secret of Success on Amazon: Experts’ Tips
We sat down with experts in the Amazon business and talked about critical issues sellers face in today’s landscape and how they can overcome them to achieve the ultimate success. We’ve been able to learn the secrets of how Amazon sellers become successful in their businesses. Some of those techniques and insights were discussed during a webinar with our CEO Vitalii Khyzhnyak, VP of Mergers & Acquisitions at Boosted Commerce Adam Epstein, Senior Customs and ERP Manager at AVASK Jacob McQuoid, and Founder of Forceget Burak Yolga.
Table of content:
- Amazon Advertising is a Flagship of Sellers’ Success
- Make Your Supply Chain Even More Effective
- Study the Amazon Inventory Limitations
- Find a Unique Product to Sell on Amazon
- Final Word
Amazon Advertising is a Flagship of Sellers’ Success
Amazon is the right place for you if you are a seller. Its advertising opportunities let sellers of all sizes put their items in front of more shoppers and reach more buyers at a lower cost. We’d call it the most successful advertising option for merchandisers.
Big retailers have the leeway to leverage powerful marketing budgets wherever they want, and consumers are only happy to gobble up sales. For Amazon sellers, channel marketing must be smart and ever-changing.
Nowhere are the effects of advertising’s power quite as simple as in the realm of cross-channel. And yet no advertising campaign, no matter how big, ever achieves patency in ways that aren’t anchored to a clear and concise marketing plan. To take advantage of Amazon to its fullest, you will need to take an all-in approach, which means that you’ll need to know how to quickly and efficiently manage the ads you create on and off Amazon.
Build a Brand on Amazon and Beyond
The world is awash with information, but the best way to get new customers is to increase one-to-one brand engagement. Landing a new advertising account is a daunting process but one worth pursuing when you have your brand strategy and are ready to test the water. Networks like Amazon offer advertisers a chance to see their ad as it turns heads.
What is the best way to build a brand? Appealing to a wide range of customer segments, catching the attention of different media outlets, and building an ad-tech stack that connects with multiple advertising channels.
Powerful Advertising Campaign Structure
Brands spend a lot of time and money on advertising campaigns, but not all of them are effective. It is essential to find a way of structuring your advertising campaign to result in the highest conversion rates.
The key to success is to separate your ads into different conversion phases that promote an initial lead, establish trust and rapport with a buyer, and then move to closing the funnel.
To create a perfect ad campaign, you need to set criteria for your ad. Focus on how relevant it will be to the audience, stimulate the target audience’s desire for the product, create a sense of urgency, and more. Next, learn about the types of advertising campaigns that will be most effective for your target audience. Then analyze the composition of the ad and the media channels that will display it.
This is what Vitalii Khyzhnyak, CEO at Profit Whales, had to say on ad structures:
“The ZTH framework, developed by Profit Whales provides complete control over the semantics and the ability to expand a significant number of keyword groups (which Amazon does not provide). We’ve expanded our logic further by reproducing it on Google and other channels where possible.”
Amazon advertising is a fluid process that is constantly evolving and adapting. At first, Amazon brands put their products in the right category and expected customers to find them in the top search result. That is no longer the case. Today, content-based advertising is the new way to advertise on Amazon.
Make Your Supply Chain Even More Effective
The supply chain is one of the most talked-about topics in marketing today, not least because it’s a complex endeavor in the current condition. Because of Covid-19 and the global lockdowns forced on the world, the logistics industry and its major players lost billions of dollars.
To address the challenges of a global supply chain, some companies are turning to automation. Others are using software to help make predictions about production demand.
But the thing is, the supply chain is a complicated process. It begins with demand, or a need to make something, and ends when something is bought and consumed. This is a complex world where production, production planning, sourcing, and demand are just as important. A feasible supply chain is one that can keep up with this change.
The supply chain is typically one of the most forgotten and overlooked areas of any company’s operations. But it’s imperative to make sure your products are being produced and delivered to consumers on time and in the proper quantities. A diverse and deliberate approach to operations is needed to ensure that processes are accountable, sustainable, efficient, and sustainable. And it all starts with developing a diligent and measured supply chain that facilitates continuous improvement.
Adam Epstein, VP of Mergers & Acquisitions at Boosted Commerce, had this to say on this matter:
“There are different ways to make your supply chain even more effective. Whether you have exclusivity on your product, if it’s white-labeled, you have to make sure you actually own the product.”
He also added a good example:
“A great example that I always use is the face masks and their global spike in demand since Covid appeared. This product took off at lightspeed, bringing more profits than ever, but ultimately, face masks will probably have a reversion to the mean.”
Ensuring that your supply chain is effective is an important step in ensuring that your business can succeed. And ensuring that your supply chain is functional and efficient is essential to your operations. However, there is no single solution that works across all industries. Each supply chain is unique, and there are specific steps that you can take to make it more automated, effective, and efficient.
Door-to-Door Shipping Process
Door-to-door (D2D) defines the method of delivery when the product is picked up at the supplier’s door and delivered to the recipient’s door.
What are the shipping steps door to door? According to Forceget, the process includes the following steps:
- Confirming shipping with freight forwarder price + transit time
- Connecting to the supplier via customer e-mail
- Communicating with the supplier for Cargo Ready Date and get booking for shipment.
- Securing Shipping Marks – Custom Documents for Origin
- Confirming Pick Up Date with Factory
- Onboarding Process
- Destination Custom Clearance
- Local Transportation Ocean-Air Shipment
- Local Delivery (FBA or 3PL)or Storage.
Why Digitalization is Vital for Shipping Process
Even though the freight logistics industry has many problems today (in particular related to the global pandemic spike), the idea of aggregation, warehousing and processing, and transmission are all developing around digitalization. Online presence is almost entirely digital, and Amazon strives to offer the lowest possible pricing for its products without sacrificing quality.
In particular, there has been a limited ability to track the whereabouts of goods and to use paperwork automation, both of which have impacted the reliability of supply chains. Advances in technology are about to change this. The field is moving towards mass adoption of digitalization.
Providing service to a customer at the click of a button has made the shipping industry move faster and decreased costs in a meaningful way. But this is not just a way to increase efficiency. It has made it easier for the customer to compare products and manufacturers. And this comparison might make them reconsider their own experience in the process.
“Digitalization helps you track your shipments. You can see your active offers, active shipments, tasks, invoices, and modifications. So it is imperative to understand the entire shipping process and, more importantly, track your shipments online, the destination, customs clearance, and local transportation.”
– Burak Yolga, Founder of Forceget
Many companies today have their own ideas for this worldwide implementation. Whether through automation or the removal of cumbersome and expensive manual work, the ability to automate delivery processes is the key to maintaining a competitive edge. This shift is driving tremendous advancements and helping to eliminate the burden of shipping and logistics costs.
“I want to bring this up because most people think that once we collect the shipment from the supplier, the containers will depart like tomorrow, the day after tomorrow. In reality, it takes almost 7 to 10 days pre-shipping time. This time is needed to take care of the customs clearance, the pickup process, sending the containers to the terminal, and waiting for the shipping line to load the containers from ports to the container ship. So if this takes a lot of time.”
– Burak Yolga, Founder of Forceget
Study the Amazon Inventory Limitations
Understanding how inventory gets ranked and shuffled is another important thing with so many factors influencing the Amazon search results. Hiding product availability in a random set of product pages is just one tactic that Amazon uses to prevent product search indexing by high-volume Amazon Web stores. Its inventory limits can be used as a tool to manipulate organic traffic to optimize the high-intent search queries that would send high-value shoppers right to your product listings.
Amazon is a platform that offers a large inventory of products to the public, but the sheer amount of products could lead to dead ends for small businesses. This is where inventory monitoring tools become essential to utilize Amazon correctly and meet growing demand. Typically retail inventory tools offer a curated view of products, but the inventory limitations of Amazon make it challenging to see the entire inventory. This leaves many in the retail/manufacturing supply chain behind in comparison to others, and it can fail to meet growing demand.
Also, sellers shouldn’t forget that Amazon is constantly changing the rules of the game.
Find a Unique Product to Sell on Amazon
Learning how to bulk sell is tough if you don’t know what to sell. Many entrepreneurs get frustrated while others sell a mediocre product they have bought on the cheap from China only to earn a few cents. We know it sounds cliché, but the truth is, to become a successful Amazon seller, you need a unique, market-specific product. And this can be tricky.
Thousands of niche products reside on Amazon, and the sheer number of online sellers is staggering. But, while it might seem like there are limitless options, it becomes much harder to sell something genuinely unique on Amazon. Amazon is a large, crowded market where you’re likely to get lost in the crowd.
So how do you find a product?
Fulfilling an individual’s specific needs is a task that falls squarely on sellers’ shoulders. They search for solutions to problems that have been expressed by their target market whilst balancing the ever-changing demands of their customer. That’s your answer – search for a problem that hasn’t been solved, for a demand that hasn’t been met, for needs that haven’t been satisfied.
Do some research to find out what products are trending and their best times. Perhaps, there are products on the market that you find not perfect, and you know how you can make a better offer? Go ahead! It only takes as much as desire and hard work!
As Amazon grows, so does its potential to become a business juggernaut and disrupt an entire industry. Start thinking now about how you can get ready to take advantage of Amazon’s reach and the many marketplace opportunities.
If you know what your secret sauce is – great! Keep going! If you’re still struggling to mitigate obstacles in your way or address some issues – let’s do that together. Contact us, and we’ll gladly help you!