How to Manage Your Amazon Store Advertising and Promotions
POSTED ON October 25, 2019
The best product in the world isn’t worth very much if nobody knows about it. Amazon’s marketplace is something of a 21st-century bazaar in which huge profits can be made but the entirely marketplace is crowded to the point of being chaotic for customers. To hit your stride as a seller, you must distinguish yourself against over two million other merchants. Not to worry, though – many of these merchants are operating in other industries, and you can start trending in the right direction by following the advertising advice found below.
The most promising piece of good tiding about all of this is that Amazon has a historically high conversion rate for a huge online marketplace. The conversion rate on Amazon is about 15 percent compared to about 3 percent for individual websites. Customers trust Amazon and know that the site requires a certain amount of transparency from sellers, which fosters higher conversions. In terms of economics, you would say that there’s less information asymmetry between buyer and seller with an Amazon purchased compared to an obscure website, where the buyer isn’t entirely sure about the product’s quality or the seller’s veracity.
Leveraging the benefits offered by Amazon towards your business depends on boosting the visibility of your Amazon listing and driving traffic to your website. Inbound marketing and search engine optimization are two of the most powerful ways to drive more visibility to your website and all of your products, but there’s certainly still a place for social media promotion and backlinks. Regularly publishing blog posts as part of your content marketing strategy and placing backlinks in those posts is an excellent way to drive traffic to your Amazon store. Advertisements and backlinks on social media are another way to boost your store’s visibility.
Another highly effective way to achieve greater visibility is through ranking high on Amazon’s product search results page. This page on Amazon is analogous to SERPs with search engine optimization insofar as Amazon and Google users tend not to scroll past the first page of results. That underscores the importance of achieving page-one status on both Google and Amazon. To get a higher ranking on Amazon’s product search results page, you’ll have to outfox your competition and optimize your results in terms of Amazon’s marketplace search engine. Amazon’s marketplace search engine takes into account the following factors: price, text match, availability, sales history, and selection.
Based on the fact that Amazon factors in availability, you might want to put a renewed emphasis on inventory management to ensure that you have the products that potential Amazon customers are searching for. You might also want to consider using keyword tools like Scope and Google Keyword Planner; these tools are designed with Amazon sales in mind. Scope is designed for Amazon sellers, and this tool enables you to track the monthly volume of particular keywords and those keywords’ shifting positions from one month to another. Sponsored product ads and online influencers may also improve your standing with customers.