Most online shoppers decide whether to purchase your goods or abandon your store on your product page. Customers will get that far with compelling product...
1) Understanding Amazon Seller Central
Amazon Seller Central is Amazon’s marketplace/third-party seller portal that expedites sales management for brands and merchants. The helpful tools and content help sellers grow their business from a comprehensive dashboard that facilitates product listing, management, and selling.
Additionally, it enables you to tap into inventory management, order fulfillment, customer service, and marketing campaigns.
Anyone can open a seller account to create a marketplace for online selling.
2) What are the benefits of Amazon Seller Central?
Seller Central offers brands vast customer reach as the perfect jumping off point to establish themselves as a trusted marketplace/merchant. In fact, the platform is easy to use, enabling vendors to list, add, or update product information and choose their preferred process.
Customer data is robust, making understanding your customers and their preferred products easier. You control your pricing, which is especially helpful if you sell at other marketplaces, as you can create a price strategy across all channels. Additionally, you can sell internationally through Amazon’s Global Selling to expand your reach.
Seller Central offers several tools, including:
- Tracking daily sales and inventory
- Simplified payments, returns and refunds
- Create tags for your preferred product templates
- Customer metrics for performance monitoring
- Growth tools providing recommendations to help enhance sales
- Fulfillment by Amazon (FBA) for shipping management
- Selling programs based on your customer preferences or product type
- Advertising tools for campaigns and performance monitoring
- Feedback and reviews
3) Leveraging product data for success on the platform
Product data is critical when selling on Amazon. You can leverage product data for success on the platform with the following strategies:
To help you stand out and attract the right customers, you can optimize your listings with the following “A+ content” tips:
- Keywords: Research relevant phrases customers use when shopping for your products and sprinkle them throughout your product titles and descriptions naturally to gain Amazon approval. Earning an Amazon Choice badge provides automatic recommendations in browsers to help grow your sales.
- Product descriptions: Use bullet points to draw attention to key features and answer customers’ questions about your products. This makes it easier to read the description and help search engines find you.
- Digital assets: Amazon provides seven to nine product photos, enabling you to showcase your products from every angle and in use, providing context for customers. Avoid too much whitespace so your products have punch and create a wow factor in Amazon’s search results.
- Templates: Use Amazon’s templates with banners, tables, and interactive imagery to grab customers’ attention.
- Product Information Management: Use a PIM to help store, edit, organize, and upload your product information and digital assets to Amazon with optimized product content.
There are two types of prices on Amazon:
- Item price: The cost of a product that the customer sees before taxes and shipping.
- Total or landed price: This price includes shipping, handling, discounts, rebates, taxes, promos, etc., as the final price customers pay.
Competitive pricing on Amazon isn’t straightforward, as you need to factor in your costs, the competition’s pricing, and how you’ll rank. Four common Amazon pricing strategies include:
- Economy: Used for large markets, this is the everyday low price for high-consumption products like household cleaners. Shipping is usually free.
- Premium: This works for brand names where higher prices are expected.
- Skimming: Skimming sets a higher price, gains sales, and lowers the price to beat the competition.
- Penetration: Help gain market share via a reduced promotional price. This is not usually a sustainable price and is therefore used to attract market share only.
The inventory management tool in Seller Central alerts you when stock is low and suggests how you can optimize inventory. It also tracks sell-through rates and sends aging stock alerts. It’s best to monitor your sell-through rates and quickly restock popular items, using a four-week stock count as your trigger. If you have aging inventory, run a promotion, but keep an eye on your margins.
Amazon’s Customer Review Insights tool automates product review analysis and informs you about important trends and preferences. As a result, you can find new directions for your niche, find out what features are essential to improve your product descriptions, improve your current selection by spotting gaps, and create a best-in-class product offering.
Becoming a third-party seller on Amazon is a great place to start when you’re looking to break into online sales. You have access to tools that streamline the process through Amazon Seller Central. You can gain a competitive edge by deploying a robust PIM/DAM to manage your product descriptions and make it easier to get products to market quickly.
You’ll also have tools that facilitate growth with Amazon recommendations that drive sales.