How to Leverage Amazon Marketing and Promotions to Drive Business Forward
On Amazon, marketing and promotions are a must.
Here’s the deal. While Amazon puts your product in front of millions of potential customers, your product will compete against potentially millions of other Amazon products. Any brand that has a product on Amazon and wants to succeed must leverage marketing and promotions to drive brand and product awareness.
We know Amazon shoppers find products in many ways. They search directly for the best deals in the Today’s Deals section. Offering Lightning Deals or Best Deals can require steep discounting but the visibility and uptick in sales make it worthwhile. Being in the right spot at the right price point, at the right time, so customers put your product in their shopping cart is the difference between winning and losing on Amazon. Shoppers also discover products through generic search terms in the search bar. 80% of clicks happen on page one of results and If your product is not on page one, you are missing out on 80% of the audience.
No marketing. No new yacht.
You may have the greatest product in the world, a product that, if people knew about it, will allow you to retire early and sail a yacht through the Mediterranean. If you don’t have a solid strategy in place that leverages the sales power of marketing and promotions, you can kiss your yacht goodbye. Products on Amazon don’t sell themselves. In fact, if your product isn’t selling Amazon will suppress it on the platform. We have seen that even products with major brand equity need to incorporate marketing into their strategy to stay relevant, and these are brands where people are searching for them every single day.
Marketing builds brand likeability.
Many businesses focus just on sales conversions. That is a short-sighted marketing strategy. We work with clients to develop holistic, brand-centric business strategies that build organic awareness for you on the Amazon platform. Awareness puts you top of mind for purchase decisions. We direct marketing to help build a stronger relationship between your brand and the customer. Once you have established a stellar reputation online, customers will search for your brand first before they search for an actual product. This gives you a great advantage over competitors while reducing costs long-term. Marketing creates buzz and draws customers into your sales funnel. By the time they get to your storefront, they have already made up their mind to purchase from you. There is more trust, less risk, and an increase in sales conversions.
Promotions drive sales conversions and organic search.
Revenue is the obvious reason to drive sales conversions. The not-so-obvious reason is that conversions and activity on your storefront help drive organic search rankings. As we stated earlier, we want you to be on page one where customers make most of their decisions. Utilizing special pricing and promotions, we can drive sales for a specific product depending on needs. If the advertising isn’t working as planned or the marketplace is highly competitive, exploring other opportunities such as Subscribe and Save. Subscription services like Subscribe and Save gets you repeat purchases every month, two months, or three months and helps familiarize customers with your brand. As your brand gains momentum, turning off ads and shifting budgets to other marketing and promotions strategies will continue to help establish your presence on and off Amazon. Through marketing, future product launches become less expensive to promote due to this brand awareness and loyalty.
Products leverage marketing which leverages data.
What is best, search volume per month for a brand or a specific product? What is the estimated cost per clicks for advertising going to be? What are the price points? What is the competition doing? How are consumers shopping? Channel Key utilizes in-depth data analysis to structure the foundation of your marketing plan. If the consumer is shopping the majority of the time for brands, we focus on marketing your brand. If consumers are shopping generic searches, we focus more on product-specific initiatives. With all that is going on daily on the Amazon platform, you can’t afford to sit and do nothing with your product. Marketing and promotions are the most valuable tools you possess to generate ongoing sales on the Amazon platform.
If you are interested in learning more about leveraging Amazon marketing and promotions, please click here or reach out to Channel Key at [email protected] today.