If you’ve been on the market for a while, you’ve probably already mastered all the basic strategies of selling on Amazon. From engaging product descriptions to the joys of Fulfillment By Amazon (FBA), you need more advanced options when it comes to growing your business. If you consider yourself a pro seller on Amazon, take a look at these helpful hints and tips for continuing to expand your business, strengthen your customer base and increase sales. It’s never too late to learn a few new Amazon tips for your inventory management business.
There’s nothing worse than a bland, out-of-context advertisement. Whether it’s promoting a product you don’t need, or aggressively pushing a product you’ve just purchased, many ecommerce businesses are struggling with little or no personalization in their marketing strategy. Take a few tips for personalizing your marketing strategy:
- Know Your Customers: While unnecessary data collection can be both a turn-off and potentially illegal, tracking basic interests and personal factors of your customers can help you identify the ads that would be most appropriate for your audience. Be sure to explicitly outline the purpose and extent of personal data you’re collecting.
- Lead Your Customers: Now that you’re familiar with the basic profiles of your customer base, create marketing that can lead each one personally to your content. From social media posts to product descriptions and pictures, each piece of the puzzle needs to be assembled with your specific customers in mind.
Why do your customers keep returning to your products? Understanding why you have customer loyalty is a key step in gaining even more loyal customers. Additionally, generating detailed customer feedback is crucial to engaging with your customers on a more personal level. Online conversations, preferred member discounts and loyalty programs are all excellent ways to keep your loyal base of customers happy and growing.
If you’re using FBA and storing all your inventory at Amazon’s warehouses, you’ve probably already discovered the long-term storage fees. While having too little inventory can clearly affect sales, having too much inventory will also hurt your bottom line. One popular way to overcome this obstacle is just in time inventory management.
The goal of this system is to accurately predict when a bulk of your sales will occur. By understanding the natural ebb and flow of your inventory, you can wait to order inventory until you need it. By only stocking inventory just in time, you can dramatically cut down on storage expenses. Of course, this system can be riskier than the traditional method of keeping your shelves well stocked. However, after years of experience and careful research, you’ll be more likely to predict when this storage system will work to your advantage.
There’s nothing worse than impatient customers who don’t have access to shipment tracking. Thankfully, FBA tracks shipping for you, so if you’re using this service you’re able to offer shipment tracking for all of your customers. Be sure your orders are always tracked; that way, both you and your customers are able to keep in seamless contact regarding shipment dates.
If you’re primarily marketing to customers, you could be missing out on a slice of the ecommerce industry on track to reach $1.2 trillion in 2021. Business-to-business ecommerce is a huge part of the industry, so any growth strategy should include research into this vast market.
Just like business-to-customer sales, selling to a business requires identifying your customer’s needs, creating a strong, personalized marketing strategy and leveraging feedback to improve the overall process. Businesses can also look to buy in bulk, so revisit your pricing scheme and consider what you can do to help keep your prices competitive as you transition into this large portion of the industry.
Not all companies will be suited for business-to-business transactions. However, think creatively about how you can contact other businesses to reach customer bases that you otherwise couldn’t reach. If your location or branding are hindering growth in a specific area, contact businesses serving those customers to consider a distribution strategy. Whether you’re looking to land a brick-and-mortar location or a new community group online, selling to a distributor is a great way to rapidly expand your sales.
You’re probably well-versed with multi-channel inventory management strategies at this point in your ecommerce career. If your expanding list of channels is causing you order fulfillment issues, or if you are spending precious time tediously syncing inventory data and product listings between channels, you need multi-channel listing software. Contact Listing Mirror today to learn how you can gain access to affordable and cutting edge listing software. You’ll save valuable time and money as you continue to expand your professional Amazon seller profile to include more customers, channels and products.