Amazon commands 50% market share of e-commerce.
It's only going to grow. As their footprint has expanded into brick-and-mortar with its purchase of Whole Foods, the lines between online and brick-and-mortar sales and marketing strategy can get blurry. For specialty brands, being a 3rd Party Amazon Seller and aligning your products with Amazon shoppers correctly is key to successful Marketability for your brand.
Are your products "marketable" on Amazon?
When it comes to optimizing your Amazon store or launching your new line on the planet's largest online store, here's a question: What's your Amazon plan gonna be? Sounds simple right?
Well, it's more involved than you think. And overlooking key elements of what we call Amazon Marketability means potentially dollars, thousands of them, being left on your table.
Marketability is about putting your best products' foot forward - maybe not all of them in your whole line – but certainly your best sellers. Many Clients think you have to launch all your SKUs to be successful. Not so much. Often We recommend just launching your top five. Let's look a bit closer.
Breaking through the clutter
Saying Amazon shoppers are overloaded with choice is a huge understatement.
But when Amazon shoppers do find your products, your Marketability plan should be all about converting visitors into customers. You've got to stand out amongst the crowded offerings.
Here's 3 marketability musts
1. Do a Storefront Analysis & Amazon-specific Brand Plan
Having multiple products listed under one parent product, as our client Good Day Chocolate does, consolidates reviews
2. Determine Pricing, Case pack, & Launch a Variety Pack
People hate to pay shipping. I know I do.
It's a huge reason why over 80 million people filter Amazon Prime products. If you're not shipping Fulfilled by Amazon (FBA) and instead you're fulfilling orders yourself (Fulfilled by Merchant or FBM) to the consumer, consider upping your price to include free shipping. The perception of free shipping translates value.
Variety packs offering your best flavors and that are aggressively priced will help induce trial. Build promotions around variety packs and use it as a way to get new Amazon shoppers to love your brand and find their favorite flavor.
Key Takeaways for Amazon Marketability
- Start with your bestsellers instead of your entire line
- Evaluate the correct parentage of your products
- Try an aggressively-priced variety pack to induce trial
- Consider offering free shipping bundled into your listed price
- Apply for Brand Registry 2.0 to protect your brand
- Launch Enhanced Brand Content & your Amazon Store page
Our next blog post will dive into DISCOVERability. Similar to SEO on Google, Amazon’s search ranking algorithm increases discoverability and better positions your brand to ascend!