I know most amazon sellers out there are concerned about the increased competition. More competition can mean thinner margins. You think you got into the business too late. But for me, I think it’s only a good thing. And I promise you I’m not just saying that. Here are the facts:
- 50 millions US households have Amazon Prime (that number is growing)
- Amazon is continuing to make investments to grow distribution
- Many (and I mean) many Amazon sellers still fail and quit the business
- Consumers are becoming more and more comfortable making purchases online
- Mobile purchases are up substantially versus prior years
The list goes on and on. The question remains, how will you set yourself apart from the competition. Here are three things you can do to set yourself apart and start 2016 off with Amazon FBA growth:
- Pick Great Products – I know…you’re saying duh Justin. But here’s the thing, picking products for many sellers is becoming challenging. Follow this rule book and you’ll be in good shape.
- Products above $14/sale
- Sales Rank Below 10,000
- Can Rank For Multiple Keywords
- Atleast 2 Competitors In The Space
- Reviews for entire first page is not above 500 per seller
- Not hyper seasonal (unless there are huge margins)
- Focus More On Keyword Research – Amazon recently expanded the backend system of their keywords tab so that you can add up to 1,000 per line instead of 50 character per line. What this means is more opportunities to rank for many more keywords. Start by leveraging tools such as google keyword planner, Long Tail Pro, Keyword Inspector, and other keyword tools to find rich keywords you can add. This will help you generate more sales
- Focus More On Amazon PPC – In continuing with the conversation around keyword research, leverage those same keywords for amazon PPC. But remember now that Amazon allows you to bid via broad match, phrase match, and exact match, make sure to leverage these new parameters in order to improve ACOS.
- Create A Website – It’s not that heard. You may not get a lot of sales to be honest (unless you focus more on ecommerce seo). But overall, this for us has been a social proof mechanism to show we’re a real business. We’ve gotten a few wholesale orders from our website. And these are people who first visited our Amazon Seller page and then found us online. This will give you comfort in knowing you’re not beholden to Amazon and can truly grow your business and possibly even sell it.
OK. You are now on your way to a great 2016. Focus on these three things and you’ll have at least a $20,000/month business.
