We help entrepreneurs launch their products successfully on Amazon. We put together information below that you may find useful.
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* We also provide Amazon account management
SECTION I (Product Research & Selection)
There are a lot of factors that play a role in choosing a winning product. It comes down to extensive research and cross-data analysis on multiple, reliable softwares that harvest product and seller data from Amazon.com
Products must have MERITS.
Merits include a product that is in demand proven by BSR (best seller rank) and monthly sales analysis, but have poor customer feedback and poor listing quality, low competition, and low sourcing costs yet high margins.
Here's a quick list of things to analyze that absolutely matter:
- Opportunities for improvements in the market
- Customer feedback
- Product performance since launch date
- Price fluctuation over time
- BSR over time
- Competition
Below is a screenshot of Helium10's product research tool. While it offers some valuable data, it's not reliable enough to spend the money it takes to launch a new product on Amazon.com
Our approach is to find 3 products that are in healthy demand proven by BSR, but with opportunity to improve listing quality. For example we can find out which variations were most popular so you can replicate what's working. Further, if reviews aren't numerous, that gives you opportunity to enter the market competitively.
Once we see there are 3 good options, it's time to do two things:
- Plan out the improvements that will be made to the product
- Get quotes from suppliers and negotiate customization terms etc.
Improvements should reflect what customers are complaining about such as quality issues, color choices, sizing issues, as well as creatively adding other items to create bundles that are useful and complement each other. Each product will have its own pain point and the trick is to solve it and market the new improvements.
There are different approaches to private label. Creating an entirely new product that has never launched on Amazon requires a whole different process and is a lot more costly and is of much greater risk to fail. The approach where you enter an existing market and improve upon a product is less risk. You have sales data, market feedback, and a template to improve upon.
At what price point should my ideal product be?
Setting your listing price will depend on the product you choose. Some say the best price window is between $20-$50. But the truth is you can sell at $80-$150, it doesn't matter. What does matter is that you source your product with at least 40-50% margins. I've sourced products with over 100% markup and that's honestly the only way to succeed on Amazon. Since you need room for marketing, fees, returns, and whatever else. Once the right products are identified, finding the right supplier at the right price is everything. However, if after some time it's impossible to find suppliers that meet the pricing criteria, we'll have to begin researching other products.
Now that you've found the right supplier who meets the pricing criteria, time to order samples. They must pass a thorough inspection. inspect the quality, the durability, the battery life, the color, the fabric, whatever it is, inspect it good. It is wise to order competitor samples from Amazon to measure the differences.
SECTION II (Building & Marketing the Listing A-Z)
The product listing will require comprehensive keyword research, high quality images/graphics, clever copywriting (persuasive language), unique selling points (USP), a good offer (competitive price), perhaps a video explaining the product, A+ content if you are brand registered (trademark), and strategic review collection that doesn't raise flags on Amazon's algorithm.
Keyword Research
Amazon is a search engine. By definition, it produces results based on search terms. This is the most important part of ranking and must be thought-through carefully by considering competitiveness, relevancy, search volume, and other factors.
Images
After entering a query, customers will be fed results, the first thing they see are product images. The thumbnail must be an excellent photo of your product according to Amazon's strict photo guidelines. Your packaging design, titles, and pricing is also as important as that first image impression. Once you have convinced a customer to click on your product, they will see more images and perhaps a video. Make your images/graphics relatable, appealing, informational, & noticeable. Just remember the acronym RAIN. (yes we invented that)
Go through each letter and make sure your images tell a story.
Persuasive Language
Titles, highlights, descriptions, and A+ content is where you get to describe your product and persuade customers to buy from you. It is essential to write clear, grammatically-correct, keyword-rich, informative copy. This is key & it must be constructed carefully.
Pricing
There are some good strategies and best practices to keep in mind when launching your product. The truth is, it depends on your situation - how much you'll be able to do. That's why it's important to consult with someone who understands your business and can strategize a plan that makes sense.
Reviews
There are many ways to get reviews. However, ALWAYS exercise extreme caution when doing so. It may cost you your account forever and all the time and money you spent. Advise us on how to do this correctly.
Marketing with PPC Campaigns
Running PPC campaigns will help your product rank and sell your products, however campaigns are mostly ineffective until you have plenty of good ratings. PPC campaigns may bring you a lot of clicks, but without social proof, those clicks will convert to your competition's listing who has reviews.
Once you have reviews, we'll run a series of campaigns that target other ASINs, phrase, and exact campaigns with specific keywords and specific tricks that have worked for our clients. We start with high budget, low CPC, and raise the bid as we analyze the performance over time. There are different strategies for different products and categories. This will all depend on which direction we go.
FBA vs. FBM?
You will want your product to be sold via FBA. This gives you the Prime badge and allows you to have your inventory sold automatically without having to manually pack and ship. You cannot ship your products from your supplier to Amazon. They have to come to you or a 3PL first.
Other Useful Tips in a Nutshell
- Getting a trademark is a valuable asset that is considered essential.
- Plan ahead and make sure to follow strategies.
- Have a mentor that can help you through issues unsolvable alone.
- Don't fall for Amazon seller ad support that will just spend your money on ineffective campaigns.
- Have a budget. Being a penny pincher on Amazon doesn't work.
- Have someone dedicated to managing your account if you are not on top of it.
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