As the saying goes in the world of business: “You miss 100% of the shots you don’t take”.
Opportunity is the ‘biggest’ currency (even bigger than the actual revenue made) for any successful Amazon Seller worth their salt. Those that miss out on opportunities by not utilizing the ‘money’ of time, lose out on more in the short and long run of things.
Amazon’s coveted Prime Day came like a thunder and went away like the summer. This leaves Amazon Sellers focusing on 2018’s most vital quarter: Q4
Therefore, more than ever, a successful Amazon business in Q4 will need to leverage the power of Virtual Assistants to delegate work, enhance productivity and skyrocket profits!
Competing by Maximizing Opportunity
The Q4 holiday shopping rush is the open-season for driven and goal-oriented sellers.
This is because Black Friday and Cyber Monday hold strong potential every year for boosting sales and unparalleled revenues – IF the ‘opportunity’ is embraced the right way.
So how does one effectively and successfully competitive marketplace during the most competitive season of the year? Capitalize on the fourth quarter is difficult.
Luckily, there are tools and strategies you can use to do just that.
To make sure you’re prepared and ready for every growth opportunity Q4 has to offer, we’re sharing a few suggestions and tips:
Setting Up Reorder Alerts
Setting up reorder alerts will ensure that the supply is always up to date. This saves undue delay in fulfilling customer orders – particularly during a busy Q4 season.
In addition, you don’t have to refund amounts submitted by the customers due to being out of stock.
It is critical to stock up for high selling seasonal items in Q4; you need to be on top of the game and let your virtual assistant coordinate / oversee and regulate the stocking, merchandising and reorder alerts process.
It will save you a ton of time and enable you to focus on what matters the most for your business i.e. making money in Q4!
Harnessing the Power of Effective Marketing Channels
It often takes a lot of money to market your business online. Whether you’re using PPC, SEO, email, social media (or all of them) to promote your Amazon Product Pages, one of the best ways to save is using web analytics to identify which marketing channels are the most impactful.
To do so, use your web analytics tool to see where traffic is coming from and what visitors do once they get to your site.
For example, if you’re spending a lot on a specific PPC campaign, only to realize that traffic from this campaign never converts, you can use your marketing dollars more efficiently by removing or optimizing this effort. In other words, focus your marketing on what works and train your VAs for social media marketing.
Keep Updated on Future Pricing and Rankings
It is inevitable for sales to increase in Q4, but that shouldn’t be taken for granted because it means you need to stock up on even more inventory.
To ensure that this entire process is effective, smooth and hiccup-free, it is strongly advised that you check and adjust your prices regularly with the help of your Virtual Assistant.
When selecting items for stocking up on, evaluate meticulously as to how these items rank and what their prices entail for Q4.
Seasonable items by their very nature always bolster and hike in their respective prices and rankings during the holiday shopping mayhem!
Remember we talked about the power of embracing ‘opportunities’ earlier in the article above? Well. This is a great opportunity to buy inventory at a low price and sell high.
Moreover, keep in mind that it is critical to reevaluate and readjust your prices regularly throughout Q4. While your competitors stock out and the last-minute demand for holiday gifts rises, you may be able to enjoy higher profit margins.
Retain Current Customers
Acquiring a customer costs 7 times more than it does to keep one, which means you should focus on customer retention through quality customer service and customer communications.
This includes delivering on your promises and keeping customers interested in your business by sending emails and engaging them through social media.
As an added perk, as you build customer loyalty, these fans will begin sharing your business with their networks, which is the most affordable and effective way to drive new business to your store.
Switch to FBA and Polish Your Amazon Product Listings
It is human nature to wait until the last day before jumping on the ‘bandwagon’. Make use of this innate human tendency! Online consumers and shoppers love 2-day shipping, and some wait until last day to order.
To take full advantage of the holiday season, it is a good time for FBM sellers to switch from FBM to FBA. In fact, with its low barrier to entry, Amazon FBA is one of the most popular routes to business ownership.
Moreover, not only will 2-day shipping result in more paying customers, but it will also free up more of your time, so you can concentrate even more on scaling your Amazon business during the biggest quarter of the year Q4.
As for the Product Listing goes, keep in mind that your Amazon Listing is your digital face on the world-wide map! It is the gate to your revenue. If the gate is shut or doesn’t open properly, the money will not pour in!
To maximize the power of your product listing, ensure that the negative reviews or the complete lack of reviews are taken care of on your listing page. Both are equally lethal!
Consequentially, don’t be an ostrich by ignoring the problem. Ensure that you respond to all negative reviews and do what you can to get them removed – as soon as possible. The longer time they stay on your listing page, the more prospective buyers will visibly see them and be dissuaded by them! You can use tools to get higher rankings and more product reviews.
It is critical to use the highest, most potent, popularly searched and best keywords, with strong photos that are compliant with Amazon’s standards. It is imperative to also make sure that your product descriptions are accurate and up-to-date. This can help drive more sales and even prevent returns come January.
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