November 15, 2015
One look at Amazon tells you that it’s the leading online retailer in the world. The facts site Statista revealed that Amazon is the leading U.S. retailer with $88.99 billion of revenue in 2014. That’s unbelievable, and a considerable portion of its revenues come from independent sellers.
If you want a piece of the pie, you need to understand how to get ahead of the competition. There are numerous myths about selling on Amazon, but I'm going to give you some hacks that genuinely work.
Win the Buy Box
The buy box is the list of recommended third-party sellers you find on every product. If you’re recommended in this box, you’re going to get far more sales than you would if you weren’t in that buy box. Here are some tips for winning the buy box on your chosen products:
- Have the same (Amazon Standard Identification Number) ASIN as the product.
- Maintain at least 90 percent positive buyer feedback.
- Sell lower than your competitors do, even if it’s by a single cent.
- Use Fulfilled by Amazon. This program is Amazon run and all prominent buyers are a part of it.
Over time, you’ll start to win the buy boxes on most of your products. When this happens, you can expect your sales to skyrocket.
Selling a product or a knock-off product will enable you to use a tactic known as ASIN piggybacking. This is legitimate because Amazon has no problem selling knock-off products, as long as you’re not claiming it’s exactly the same as the new alternative. The way you do this is to research a product and see if you can sell an inferior version for less than the original, while still making a profit.
It does require some research, but there’s no reason why you can’t manage it simply because many buyers won’t check the authenticity of the product before buying. As long as you didn’t tell a lie in your product description, the term ‘buyer beware’ applies.
Custom URL Queries
Strip down an Amazon URL and you can easily see that you have the ID of a product plus the keywords for how a customer got there in the first place. Strip down this URL to a custom one and you can send someone to a page, while fooling Amazon into believing they came through a specific search term.
In other words, search for your product using your desired search term. Take this URL and drive traffic specifically to this URL. Amazon believes that traffic comes from that search term online, and so they believe the term is popular, thus your product gets a higher rank.
Amazon Daily Deals are popular, and as someone with a merchant account, you can take advantage of this. More than two billion items were sold by independent sellers in 2012, and many of these came through Daily Deals.
Here are some tactics to take advantage of:
- Make sure your price is lower than a coupon item. Win that buy box!
- Promote your coupon items through third party ‘deals’ websites.
- Get positive reviews by shifting your coupon items to friends and family.
Use Automated Tools
When you start to populate your store with a huge range of items, you need to start using automated tools to stay on top of the work. There are plenty of automated tools available for you to use. Here are some bases you need to cover:
- Keyword research. Know what to rank for and what customers are searching for now.
- Product re-pricing. To keep winning the buy box, you’ll have to do this frequently.
- Inventory and shipping management. Regular sellers need this to stay on top of everything.
As you can see, there are many ways to hack the Amazon selling system. Use these tips and watch the sales roll in!
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