Dec. 31, 2023
LAS VEGAS – In its debut year, the Prosper Newsletter connected with plenty of industry professionals who knew what they were talking about. Here are some of the more memorable quotes during an eventful 2023.
“Stay informed about Amazon’s policies and guidelines to prevent violations or account issues. Attract customers and differentiate from competitors by offering promotions like discounts, bundle deals, or aggressive Limited Time Prime Exclusive Discounts. You can also run targeted ad campaigns to promote these special offers. Other than that, make sure to replenish your inventory properly and get ready for a record breaking season.” — David Dayon, president and co-founder, The Ecom Cooperative (TECO)
“If you’re looking to build a brand and expand in the long run, Amazon can’t be your only logistics partner,” says Ausch, chief logistics officer at Tactical Logistic Solutions, Saddle Brook, N.J. “Relying strictly on Amazon Freight, AWS, FBA and partnered carriers restricts you to Amazon’s schedule and a single marketplace.” — Ephraim Ausch chief logistics officer at Tactical Logistic Solutions
“We fund the purchase of inventory on a unique consignment model,” Hulburd explains. “Our community of buyers, participating on the Kickfurther marketplace, purchase your inventory and place it on consignment with you. Through this funding model, the inventory is not recognized as a liability on your company’s balance sheet. The consignment agreement is not a loan and is therefore not recognized as debt.” — Tisha Hulburd, chief marketing officer at Kickfurther
“To thrive in today’s eCommerce market, more businesses are selling on marketplaces. In 2022, 31% more retailers and brands started selling on marketplaces for the first time—and they’re not just selling on Amazon.” — Fareeha Ali, director of Strategy and Market Intelligence at Mirakl
“I’m mainly interested in what’s best for Amazon sellers and for consumers who seek out quality products at an affordable price on the Amazon marketplace. If the marketplace will function better for all stakeholders, Amazon included, based on reforms and improvements brought along by this lawsuit, then I am all for it. If a breakup makes life a lot worse for sellers and consumers, or results in Amazon moves that hurt marketplace sales, then I’d certainly wish the [magic] wand had waved.” — Jason Boyce, founder and CEO of Oregon-based Avenue7Media
“In our case study from last year, one customer who did not offer a discount in 2021 saw only a 1% to 3% increase in sales during Prime Day; however, when they offered a 20% to 25% discount during the 2022 Prime Day period, their sales increased by 277%. This year, we helped more Amazon sellers implement this strategy, with some customers hitting seven to 15 times the amount of sales on an average day.” — Chris Compean, co-founder & CEO, Mayan
“Amazon brings the traffic to the platform. Now it’s your job, through Amazon SEO and pay-per clicks, to boost your listing. Analyze all of the key words, even long-tailed keywords which are searched terms that don’t have as high of a search volume. In Q4, long-tailed keywords become more important because the search volumes go up so much.” — Justin Cobb, CEO and co-founder of CARBON6
“Policymakers are often unaware of the intended consequences of new laws or regulations and legitimately do not want to hurt small businesses. But they don’t know unless you tell them. Do you want to spend more money on advertising? Are you comfortable with online marketplaces becoming harder to use? Do you want to track and comply with 50 different privacy laws? Odds are the answer is no. So, the question is, why wouldn’t you stand up for your business?” — Rob Retzlaff, executive director, The Connected Commerce Council (3C for short)
“Prime Day provided mixed messages for sellers this year. Some brands turned in impressive revenue numbers during Prime Day, but hidden from public view are the profitability numbers for those same sellers. This is key because Prime Deals were primarily advertised and offered only for products that cut prices by 30 percent or more. Most products sold at a 30 percent discount or more, which means a loss for many.” — Lesley Hensell, co-founder and co-owner, Riverbend Consulting
“A lot of data and analytics are saying people are having incredible Prime Days and doing well above expected. Now is the time to really put the foot to the gas pedal and lean in. Fuel that flame. If the fire goes out and you have no fuel, all that work goes to nothing and your business drops down to nothing. Fuel that flame and build toward Q3 and Q4.” — Ryan Cramer, head of Marketing, Frisbi
“In a platform as crowded as Amazon, effective advertising plays a significant role in guiding your customers throughout their buying journey. By strategically placing ads throughout the Amazon platform and leveraging external advertising such as Google Ads, businesses like yours can effectively connect with your target audience and drive them towards your products.” — Alex Mospanyuk, marketing manager, Ampd
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