6 Proven Tips to Maximise Amazon Sales in 2024
Wondering how to boost your Amazon sales in 2024?
With more and more sellers entering the platform, competition is certainly heating up. Standing out from your competitors is about more than just the products you sell. It’s about creating a memorable brand and if you want to increase your sales this year, be prepared to deploy some strategic tactics into your workflow.
But don’t let that put you off. You just need to know where to focus your time.
The online world moves fast, and Amazon is no different. What worked yesterday might not work today, but that’s why the guys at E-commerce Intelligence do what they do. To keep you informed, updated on the right path to success.
With the right strategies, you can increase your visibility, attract new buyers and grow your business on Amazon. We’ve looked at 6 of the most prominent and actionable tips in 2024 that all focus on maximising sales. Let’s go.
1. Optimise Your Product Listings for Better Visibility
Your product listing is the first thing potential buyers see, so you need to put a little thought into it. Yes, some effort is required, unfortunately.
When we talk about optimising product listings, we’re talking more than just describing the product. You NEED to help your customers find it too. A well optimised listing starts with a clear, keyword-rich title that explains exactly what you’re selling. Use bullet points in the descriptions to highlight key features and benefits and make it easy for buyers to see why your product is better than others. Think USP’s.
High quality images go a long way. Use large, clear, detailed photos that show your product from different angles. Your aim is to help customers visualise what they’re buying, and you can’t do that with a blurry, low-quality image. Adding lifestyle images can also make a big difference, as it shows your product in use and helps potential buyers to see how it fits into their lives.
Lastly, make use of Amazon’s A+ Content to help create richer descriptions. This handy feature allows you to add additional images, charts, and more detailed text in order to boost conversion rates. It’s all about making the experience as informative and engaging as possible.
2. Win the Amazon Buy Box
If you want to really maximise sales, winning the Buy Box is crucial. And if you don’t know what this is, then you need to learn.
Ok, so what is it? The Buy Box is the section on an Amazon product page that allows customers to add items directly to their cart with a single click. And since most sales on Amazon come through this feature, it’s easy to see why this is so important. Getting your products into the Buy Box will directly boost your revenue. Period.
How do we get in the Buy Box then? To increase your chances, you need to focus on several key aspects, mainly consisting of competitive pricing, maintaining good stock levels, and offering fast, reliable shipping. And, if you’re using Fulfilment by Amazon (FBA), you’ve already got the edge, as Amazon tends to prioritise FBA products due to their fast delivery options.
Seller performance is another key factor. This includes metrics like order defect rate, late shipment rate, and customer feedback. Aiming for high ratings and a track record of on-time deliveries will help convenience Amazon that you’re a reliable seller. 9 times out of 10, the better your metrics, the more likely you are to win that coveted Buy Box spot.
3. Leverage Amazon Advertising for Increased Reach
When a lot of sellers are competing for the attention of the same buyers, things can get competitive. Now that’s not necessarily a bad thing if you’re prepared to leverage the power of some paid advertising options. Yes, it costs money, but using sponsored ads for Products, Brands, and Displays will quickly put your listings in front of the right customers, albeit at a price.
Targeted ads are designed to help you get your listings in front of shoppers who are already searching for similar items. That’s why they’re good. But in order to get the best return on your investment (ROI), you’ll need to focus on creating very specific ad campaigns based on popular keywords related to your products. Don’t worry, there are tools for that.
Be warned though, this is not a set and forget strategy. You’ll need to regularly monitor your ad performance and adjust bids to keep costs in check while you try to maximise your visibility.
4. Encourage Customer Reviews for Social Proof
Good reviews are an obvious necessity which can quickly make or break a product on Amazon. Yet for some reason, sellers still overlook this key aspect. When customers are on the fence, a few glowing reviews might be all it takes to seal the deal. But how do you get those reviews? It’s simpler than you might think.
For starters, you need to ensure your product quality actually matches the description you wrote. No brainer there. Then, after a sale, use Amazon’s messaging tools to politely request feedback.
Let’s face it, most people don’t instantly leave reviews. A simple, well-timed follow-up can remind buyers to post a review on their positive experience. If they like your product and you gave them a good service, you’ll get a positive review 85% of the time. Just by asking! Wow.
Positive reviews don’t just boost credibility, they also help improve your product’s ranking on Amazon, making it easier for new customers to find you. So, don’t overlook the value of social proof. The mighty algorithms are working harder than you think!
5. Use Dynamic Pricing Strategies
Pricing is obviously an important aspect of your online sales strategy. After all, most buyers are looking for the best deal. Staying competitive in terms of your pricing is going to play a big role in your success this year.
However, constantly adjusting prices and manually checking your competition can be a real challenge. It’s both time consuming and a little sole destroying!
Thankfully, Amazon has a tool for this. Dynamic pricing.
So how does it work? It’s simple really. The Dynamic pricing tool allows you to track demand levels, market trends and your competitors’ prices, all in one go. It then uses this data to automatically set prices for you. Couple that with a few custom pricing rules and you’ll ensure your products always remain appealing to your target audience.
6. Manage Inventory Effectively to Avoid Stockouts
There’s nothing glamourous about inventory management, but it’s essential for keeping your sales steady and your business thriving.
Running out of stock means you miss out on valuable sales; while overstocking means you’ll incur unnecessary storage fees. The sweet spot is having just enough inventory to meet consumer demand, without over committing. Amazon’s built in inventory management tools are great for tracking stock levels and forecasting demand, so use them to your advantage and set automatic reorder points to ensure you can always fulfil spikes in consumer demand.
