Amazon Strategy to Win – The Best Strategy to Launch on Amazon in 2021
Launching a product on an eCommerce site has many benefits as competition is so stiff between sellers. There were many product launch strategies to help sellers introduce their brands in the marketplace years back. With the growing interest of people selling on the Amazon platform, some of these strategies have to be updated.
There are over 3 million active Amazon sellers with total sales of 200 billion U.S. dollars in 2019. Based on this data gathered by Marketplace Pulse, you can imagine the amount of income you earn from selling on Amazon. The best thing to do is find the best strategy to distinguish your brand from other sellers since Amazon is overwhelmed with many sellers.
Keep reading to find the best strategy to launch on Amazon in 2021.
What Is a Product Launch?
A product launch is an initial step when sellers publish their product listings on an eCommerce platform. Launching your product is an overwhelming experience knowing that your product has zero reviews and is low ranked.
Its purpose is to drive customers to buy your product, increase your sales history, and rank in the search results. It leads to producing more impressions, clicks, and sales.
What is the Best Strategy to Launch on Amazon in 2021?
If you plan to sell on Amazon, you have to launch your product to drive shoppers to your product listings and create conversion. Your product launch could stay between seven to ten days. Depending on the outcome of your initial sales, the product launch could last longer on Amazon.
As your sales increases, your product gets attention in the remaining phase of your launch.
Check out the best strategy to launch on Amazon in 2021:
1. Secure an Amazon Prime Badge – Getting an Amazon Prime Badge is your first step at the initial stage of your product launching. The purpose is to prevent a low engagement with your customers. Shoppers who see your badge are confident that their orders will arrive safely at their homes within 48 hours.
Customers are paying extra dollars to become a member of Amazon Prime, which leads to a conversion rate increase once they see the Amazon badge.
These products are ranked on top of the Amazon search results. Sellers who pay for the Amazon Badge will get their ROI (return on investment) as their products sell quickly. Having your product qualified for Amazon prime starts by enrolling it in the Amazon FBA.
Through this fulfilment option, you need not worry about legwork as Amazon will handle the storage, shipment, and delivery, so that you can concentrate on the marketing and promotion of your products.
2. Get Your Product Reviewed – Product reviews can influence customer behaviour. More than 49 percent of shoppers read product reviews before buying a product. An effective way to launch your product is to get a product review before launching it through the Amazon Vine.
This program focuses on gathering the most trusted Amazon product reviewers who give their opinion on a pre-release or new product after testing for free. You should register your brand in the Amazon Brand Registry and sell it with the Amazon FBA to qualify for the Amazon Vine.
You pay a certain amount on Amazon Vine as an enrollment fee.
3. Offer Price Reduction – Customers are looking for ways to avail themselves of product discounts. It is a strategy that lures them into buying your products. It is the easiest way to attract customers and compel them to purchase the products.
Why not offer them coupons, freebies, and discounts to get traffic to your products and get customer reviews. A competitive product offer cannot hurt your budget as you profit more in the long run.
4. Brand Content Optimization – Review your product listings to make sure they are optimised and lead to product views and conversion. Use relevant keywords in writing the title and descriptions in your product listings. Choose phrases and keywords that apply to your brand.
There are free online keyword tool generators that help you in optimising your brand content.
They provide you with tags and search volume on Amazon. Add eye-catching titles and detailed product descriptions that can create clicks and impressions to your listings. Don’t forget to add high-quality images of your products.
5. Focus on Promotions – Promoting and marketing your product using social media, product reviews, and Amazon PPC campaigns can persuade customers to visit your product listings that lead to conversion.
Facebook Ads are the most popular tools in driving traffic to your listing as more people are visiting Facebook every day. With a Facebook page and FB Business Page Manager, internet users get directed to visit your website.
Google Ads is a helpful tool for promoting your product, but it is costly compared to Facebook. You may also ask help from YouTube, Tiktok, and Instagram influencers to promote your products by giving them free samples to encourage their followers to buy them.
Amazon Pay Per Click is another way to advertise your products by paying Amazon for every click made by a user on your ad. Amazon PPC connects the products to a search term to reach an audience and help it rank high on the algorithm.
If you did all the steps above already, the next thing you should know are the risks you need to avoid as a starter! Read this blog: Starting Business on Amazon: Top-5 Risks You Need to Avoid so you know what to do.
Does Amazon penalise me for giving away freebies or coupons on product launches?
No. Amazon does not impose a penalty on a seller who gives freebies and coupons to customers. Do not focus on this strategy after a month. Do your best to gain sales organically and avoid soliciting reviews from customers.
Shall I pay taxes on Amazon Vine?
You pay the estimated tax value of the products as taxable non-cash payments to Vine Voice for their services. The Vine Voice takes care of the ownership of the third-party product six months after the order date, of which the ETV is applicable for payment.
What are the common mistakes in a product launch?
The common mistakes in product launches would include a poor selection of the products to sell, no product testing, wrong keywords, and initially insufficient advertising budget. Ask for help from the experts to prevent these mistakes in your product launch.
Launching a product before it’s on the market can be an effective method of changing customer behaviour and generating sales. The best strategies to launch are proven to help sellers generate more revenue, and Amazon is one of the most popular places for these launches.
If you want to sell your products online but don’t know how or where, leaving all your cares with them is worth any investment in their platform. We hope this article has helped provide some insight into what launching on Amazon will entail and get you excited about doing so! To learn more secrets that make selling on Amazon successful, check out our blog post Top-10 Secrets to Selling On Amazon.