When newbies first set up shop on Amazon, they usually get too mesmerized by the opportunity of having nearly 250 million potential buyers for their products. It is necessary to not get too caught up in these stats and avoid Amazon selling pitfalls along with some common rookie mistakes that first-time seller on Amazon tend to make. When you’re planning to become an Amazon seller then you must take time to research and get the answers to all your questions.
How to Become a Successful Amazon Seller?
NOT Being Inactive
Amazon is very particular about seller-buyer interaction on their website. If a seller is not responding to customer queries, requests and orders, their Amazon sales rank will suffer gravely. Amazon monitors merchant activity closely and if you feel you will be unable to respond to customers and will not ship out products for a given period of time, it is better to take your product offline for that specified period.
Bad Quality Images
According to tool experts at AMZ Insight, the image of your product is amongst the first things that the buyer is going to notice. Not only should the image be eye-catching, but it should also be in HD quality. Try to put up at least three to four images clicked from different angles to give the buyer a more comprehensive idea about the product.
Irrelevant Keywords Usage in the Title
Buyers tend to look for the products they want by typing in relevant keywords. If you do not include the relevant keywords in your listing and description, it is highly likely that the product gets lost in the plethora of other offerings by vendors selling similar goods. Therefore, use relevant keywords in your title and product descriptions, smartly.
Expensive Shipping Services
According to some conducted surveys state that expensive shipping services scare off buyers on Amazon. Having overpriced shipping costs may lead to very high sales in the short run but will eventually be the reason you are wiped off the face of Amazon. Moreover, it will also give you bad off-site reviews from angry customers who might not have used the product but are mad at the costly shipping.
Ignoring Your Competition
If you are selling on Amazon, you are undoubtedly well-acquainted with the tough competition in the marketplace. Amazon has over three million sellers and it is quite likely some are selling goods similar to yours. Study your competitor’s product pages, data, sales and customer feedback and try to figure out why you are lagging behind. Try to think of ways to make your amazon store, and offering unique and economical from theirs.
Not Studying Your Data
Data analytics is the future of the online marketplace. Amazon uses and studies data every day to make important strategic decisions. You can be sure of the fact that your competitors are using software to conduct different online market research on Amazon. So should you. Look for a reliable and efficient amazon sales rank tracker and market research tool that not only summarizes your data for you but also recommends a future course of action.
Related: Tips to Join Amazon seller millionaires‘ club
Since you are new to Amazon, it is easy to be a little daunted by the seeming complexity of it all. However, once you get used to the online marketplace, you will find that things that intimidated you are the most helpful in the long-run. Learn as you sell and in no time, you will see your sales graph heading up.
What Characteristics Make you a Successful Amazon Seller
Since the inception of Amazon in the eCommerce industry, Amazon sellers are always learning and developing new skills to succeed in a market with under three million sellers. They all have various set of skills from, marketing, analyzing, sourcing and selling. The skills you might have acquired 5 years back to secure sales and generate profit on Amazon, probably won’t work today. To be successful in long term as a seller, you have to develop the skills that would help you to spot and capitalize the short term opportunities and then quickly adjust to the business circumstances. Check the below major characteristics of a successful Amazon seller.
The Data Geek
Advance Amazon sellers are now using special Amazon tracking tools that pull vast product data from Amazon overtime including, sales estimates, pricing history, rankings and reviews to come up with the best products to sell. Instead of relying on old school techniques of finding new products at trade shows these tracking and research tools let them identify new products and improve their Amazon store by analyzing huge data. They use historical data to forecast sales, stock levels and seasonal trends so they easily outperform competitors in the peak season. On the other hand less professional competitors who do not collect and analyze historical data suffer through the increased cost of sales and stock-outs in the holiday season.
The Best Bargainer
Even if some successful sellers are not data geeks and they are not using any Amazon seller tools to collect huge product data but still making a fortune from Amazon, they are the best bargainer. They maintain a successful relationship with their unique suppliers and use it as an advantage to bargain the best prices and thus make consistent sales at lower prices. They use their extraordinary social skills in their network and find the best deals. Being well-versed in driving a tough bargain position with the suppliers, they also manage to maintain a close relationship with them.
Business Automation Engineer
A successful Amazon seller’s behavior also tends to be a business automation engineer. As they use advanced software tools to organize the different aspects of business including, inventory management, re-pricing tools, product and reviews tracking tools, listing management and customer support software.
Most of these repetitive tasks can be effectively automated with the help of different available tools at a fraction of cost of employing someone to do these. Advance software tools not only perform complex business tasks for you but also generate useful data for the business insight. With the help of Amazon product tracking software, expert sellers are keeping eye on the most profitable products by monitoring their individual competition, customer profiles and pricing variations. This help them continuously update their catalog by removing less selling items and adding most profitable products.
Being a philosopher is an essential trait of a successful seller. Sometimes, new sellers can have very successful business on Amazon especially when they introduce something new in the market. High volume of sales allow them to buy in bulk at good prices. Things can turn around suddenly, and multiple factors such as entry of other sellers for same products, Amazon itself start to buy and retail those successful products or supplier change their terms, often left those successful sellers with huge pile of unsold stock.
Rather facing such a situation advanced sellers focus on quickly selling products and also the long-term future opportunities of the market. They always diversify across the product categories while maintaining relationship with different suppliers. Instead of having few top selling products on Amazon, you have to balance the success by adding more products. This can help you to survive any surprises that may develop due to any reason.