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Originally published on December 27, 2022, updated January 4, 2024
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In this guest article, Carina McLeod, CEO of eCommerce Nurse, shares seven Amazon seller resolutions you should have for the new year.
It’s that time of year again when we all begin to think about what the next year will bring in our personal and professional lives.
For those of you in the eCommerce space, this type of forward-thinking is often very difficult.
In an industry that is forever changing and moves incredibly fast, it can be a real challenge to plan ahead as you're often forced to be reactive rather than proactive.
To help you out, the team at eCommerce Nurse has created this list of Amazon seller resolutions for the year ahead. Here are our thoughts on what the next 12 months will look like and what you need to be preparing for.
Video advertising is the future and if you are not investing in it yet, you should be! Amazon Advertising continues to expand its video capabilities, giving you a variety of options to achieve your advertising goals whether they are focused on product awareness, new customer acquisition, or brand loyalty.
Sponsored Brand Videos, which used to only take customers to your product detail pages, can now go to a page on your brand store. You also now have the ability to add videos to your Sponsored Display campaigns both on and off Amazon.
Other recent additions include Amazon opening up streaming TV ads in the ads console rather than just through DSP and ready-to-use customizable templates for creating more compelling video assets in your ad campaigns.
If you're a brand owner, you must make sure that your Amazon product detail pages are in line with your branding and marketing off Amazon to give customers a more cohesive experience. Every touch point should speak clearly to your brand personality.
You can accomplish this by taking advantage of infographics, A+ Content, storefronts, and brand stories. Each one should have the same look and feel, so we highly suggest working with a talented graphic designer who can align your assets in this way.
Many businesses are having to increase their prices in response to the cost of living crisis. While you need to generate enough profit to sustain your business, you also want to ensure that you continue to remain competitive.
Make sure you are doing your calculations to understand what your minimum profit thresholds are so you don't end up in a bad spot. You should also continue to perform competitor research to keep an eye on what others in your category are doing.
Consider implementing a dynamic pricing strategy into the mix using a tool such as Profasee to predict the perfect price.
At a time when costs are rising and consumers’ disposable income is shrinking, you need to be creative in how you can cut costs during these tough economic times. There are third-party tools like Seller Investigators and GETIDA that can help you recover lost funds with Amazon and get back every penny you are owed through FBA reimbursement claims.
Another way to decrease costs involves your packaging and labeling. Follow Amazon's requirements to the letter right from the start. We see so many sellers spending money on reworking their packaging and relabeling their stock to meet Amazon’s strict requirements when they could have avoided this if they had managed it from the point of manufacture.
Reviews and ratings are like gold to a listing. Every seller is aware of how much they influence a customer’s buying decision and how Amazon favors listings with solid, positive reviews.
While this subject is not new, it should always be a priority for you. Using Amazon’s Vine review program and a renowned tool like FeedbackFive can help you increase your ratings on Amazon.
It should also seem rather obvious, but one of the best ways to avoid bad reviews is to sell quality products in the first place.
Monitoring your reviews and those of competitors (which FeedbackFive can also do) is super advantageous for gathering intel on how to improve your items. A best-in-class product paired with amazing customer service will make you tough to beat even in such a competitive space.
With Amazon continuing to reduce the space available to sellers, limit stock, restrict certain items, and raise FBA fees, storing inventory in Amazon’s fulfillment centers is becoming more challenging and costly.
Related Reading: How to Prepare Your Amazon Business for a Recession
It may be time to consider using a third-party logistics provider to hold your stock and manage shipping to Amazon. The key is using a provider that is completely in tune with Amazon’s processes and has the capabilities to work towards the requirements needed to unlock and manage Seller Fulfilled Prime.
It may also be time to look beyond Amazon to additional channels. Being too dependent on one platform is a risky game to play, especially during these volatile times.
Consider expanding to platforms such as Walmart (for US sellers) or build your own direct-to-consumer (D2C) business and invest in your social media strategy to drive awareness.
While there are a lot of exciting opportunities for you to make your business more efficient and profitable in the new year, you must never lose sight of the basic fundamentals of selling.
Having a great product at a compelling price that is supported by outstanding customer service from a business that is passionate about what they sell and who buys them will always help you win. With these strong foundations, your chances of flourishing even during tough economic times are exponentially higher.
If you would like to know more about how eCommerce Nurse can help set you up for success this year and beyond, please reach out to us. We help brands grow on Amazon through account management, ads management, strategic consulting, and marketing support and would love to hear from you.
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