Actionable Amazon Strategies to Maximize Results in Q4
- Feedback automation tips for seller health
- Why product reviews continue to matter
- Why Q4 is a great time to work on your Inventory Performance Index
- What Prime Day data can tell us about Q4
- Ideal Amazon advertising campaign structures
- Why hourly bidding changes the game
- And more!
Take a look at the webinar and let us know if you have any questions!
Here is the webinar recap, written by Jeanne Croteau:
It’s hard to believe but it’s already that time of year — that’s right, it’s Q4 again! It’s normal to feel a mixture of nervousness and excitement, which is why eComEngine’s Industry Liaison, Liz Fickenscher, teamed up with Jason Magee, the Director of Business Management at Teikametrics, to bring you some incredibly helpful tips!
In this webinar, you’ll get access to valuable information about the immediate steps you can take to make this your best Q4 yet! Learn about key dates, strategies for managing inventory levels, advertising strategies and so much more. Don’t have time to watch right now? Here are a few of the highlights!
Why Q4 Matters
Q4 officially began on October 1st. That means you should already have everything in place to ensure that your business makes the most of this busy quarter. You won’t see demand or interest at these levels again until Prime Day next summer, so you really need to seize the chance to boost brand visibility and sales.
With a spotlight on your business, any areas where you can improve will become glaringly obvious. So, if you’ve been meaning to clean up your product listings or get higher-quality images, don’t waste any time — do it right now! You only get one chance to make a great first impression, so don’t blow it at a time when it matters most!
Watch Seller Feedback Closely
As both a seller and as a customer, you’ve probably figured out that buyers really matter to Amazon. They are customer-obsessed, and they expect you to be too! As Fickenscher explained, “Feedback is a metric that you have to keep track of and answer for. Consistently low ratings can really hurt you.”
Fortunately, while FeedbackFive may be best known for helping sellers request feedback, it can also notify you if something is wrong. Setting up alerts about negative feedback allows you to address the problem right away, which sends a strong message to buyers and to Amazon. Once the issue is resolved, you may ask customers to modify or remove negative feedback (don’t try this with product reviews, though!) in order to protect your seller account.
Know How to Ask for Product Reviews
People will be swarming Amazon throughout the holiday season, looking for the best deals on the right products. The last thing you want is for the competition to drown you out because you don’t have enough reviews. Customers look to see what others are saying about their experiences before making a purchase, so you have to make sure you are asking!
Over the past few years, the way sellers are allowed to request reviews has changed drastically, so it’s important to get familiar with Amazon’s most current guidelines. “There is no room for non-compliance,” Fickenscher warned. “Being suspended for asking for reviews in the wrong way is preventable.” Don’t take any chances!
Work on Your IPI
Your Inventory Performance Index (IPI) is a metric that Amazon uses to determine whether you are eligible for unlimited storage (very desirable during Q4!). It may also help you identify ways in which you can improve your inventory performance as an Amazon seller.
When you fall below and get in trouble with your IPI, you can be subject to fees or hit with limited storage. Unfortunately, this can carry over into the next quarter! The lead up to Q4 is the perfect time to improve your inventory management strategy in order to avoid storage issues.
Finding the Right Campaign Structure
Teikametrics recommends a 3:1 audience-based campaign structure — one auto campaign and three manual campaigns. According to Magee, “This is what we see as best practices and results in the ability to scale.” For an excellent, in-depth example of what this looks like for Amazon sellers, please take the time to listen to the webinar. It’s worth it!
For now, remember that Q4 is your Super Bowl. When you spend money on advertising, traffic from consumers significantly increases. So, if you can uncap your budget, now is a great time to invest in advertising.
After reviewing the Prime Day data on 1,500 products sold by Teikametrics clients who increased ad spend by 33% on average, the Cost-Per-Click (CPC) actually went down, conversion rates stayed the same, but total revenue jumped by 540%!
Other Factors to Consider
In this jam-packed webinar, Liz and Jason also discuss a variety of other factors that you should take into consideration during Q4. They include the following:
- The reasons why some products don’t deserve to be advertised.
- Why providing discounts and promos isn’t always necessary.
- The ways in which hourly bidding can help you outsmart the competition.
- How the Teikametrics flywheel can help Amazon businesses succeed.
Of course, it’s best to be prepared well in advance for this busy season, but even if you’re just jumping in now, you can put many of these useful tips into action. Then, make note of your challenges and celebrations so that you can be ready next year!
Originally published on September 24, 2019, updated October 2, 2019
This post is accurate as of the date of publication. Some features and information may have changed due to product updates or Amazon policy changes.