Best Ways to Maximize Your Sales on Amazon
Amazon is primarily a winner-take-all market. Even a slight competitive advantage of one product over another can result in a disproportionate difference in sales. This is by design. Jeff Bezos famously said;
The no.1 thing that has made us successful by far is obsessive-compulsive focus on the customer.
Amazon’s marketplace is designed to serve the customers, and hence, the website actively supports the best-selling products and magnifies their competitive advantage in the market. Considering this, here are some of the best ways you can improve customer satisfaction and maximize your sales on Amazon.
Add Accurate Product Description
Most of the one-star reviews products get on Amazon are because of a deceptive description. Even if the product is competitively good for its price, a description that doesn’t give accurate specifications of the product will lead many buyers to leave a bad rating. And if the first few ratings of your product are bad, your product will not be shown in Amazon’s search results.
An accurate description helps you gain customers’ trust by keeping your product ratings up, but it also does so directly. In general, adding more specifications in your description lets your customers know that you know what you’re doing. It’s completely okay to be a little bit biased while interpreting your product’s specifications in the description; just remember to be accurate.
Affiliate Marketing
Affiliate marketing is one of the best ways to gain trust and customer satisfaction. You can sponsor a YouTube channel, a podcast, an Instagrammer, or any other entity people follow to endorse your product. Affiliate Marketing is especially ideal for niche products as it allows you to reach your target audient via the people they trust.
However, most reputable public figures and entities will only endorse your product if it is indeed the best in its niche. Hence, affiliate marketing is better described as a way to increase sales by increasing brand awareness.
Predict Scarcities
Some products are more profitable than others at different times. The market price of products varies depending on the availability or scarcity of the products. One way to maximize your sales and profits is to buy products that are about to become scares on Amazon. An investment management company called Ascend Ecom does precisely this for its clients. Jeremy Leung, the co-founder of Ascend Ecom, says, “We use software tools to find winning products for our clients that we’re certain will be scarce and in high demand on Amazon in the upcoming weeks. When we post these products, people search the products themselves, resulting in sales without a dollar invested in advertising.”
