From its humble beginnings as an online bookstore to one of the most successful global e-commerce platforms, Amazon has definitely come a long way. With 200 million Prime members and over 2 billion website visits in this year alone, it’s no surprise that Amazon has become a mainstay in many households around the world. With its vast international customer base and an enormous revenue stream, no wonder it continues to be one of the biggest names in e-commerce today. So if you’re ready to increase your wins, now is the time to take the plunge!
Bring Your Valleys Back To Peaks
Are you feeling stuck on the Amazon journey? You’re not alone – many sellers face roadblocks that can slow or halt progress. But don’t despair! We’ve put together some of our best advice to help get past any hurdles and continue your online store success. So, take a breath and let’s explore what could be blocking your path up the Amazon ladder!
1. Competition
The ecommerce market is continuing to experience rapid growth, and the fierce competition shows no signs of slowing down. According to a report on Jungle Scout, on Amazon alone around 3,700 new sellers join every day – that’s close to 2 million small and middle sized businesses around the world! Business owners who have been selling for years may enjoy an upper hand against these newcomers but need not rest on their laurels; staying ahead of the trends in what you are offering could mean all the difference between success or failure. Consider this: maybe your great iphone fast charger was successful last year, however today a competitor might be selling an even better version capable cranking out power for multiple devices?
2. Changes In Amazon Policies
Amazon sellers need to keep a close eye on their seller central accounts – and any changes in policy or algorithms – if they want to remain compliant, successful, and agile. Although it’s not always easy navigating these largely uncharted waters alone; having the support of knowledgeable specialists can provide valuable guidance so business owners don’t have to go at it solo each time something new comes up. You also want to make sure they always keep you in the loop, if you decide to go this route. Staying informed is key!
3. Shipping & Fulfillment Challenges
With the next Supply Chain Crisis looming, e-Commerce Sellers need to start strategizing now! As many know, Fulfillment By Amazon (FBA) may not always be a feasible option for all Ship & Fulfillment needs. The smartest sellers are researching cost-effective alternatives such as outsourcing fulfillment or implementing robust inventory systems – and getting savvy about shopping around carriers for deals too. Now is the time to plan ahead – don’t get stuck in an unexpected shipping jam later on down the line!
4. Customer Service
Customers are the lifeblood of any business, so making sure they’re satisfied and you sincerely show you care is key to success – especially on Amazon! Quality tools like ManyChat and loyalty programs can be great investments for ensuring your customers have an enjoyable experience. As a bonus reward repeat buyers with special discounts or benefits to show them you appreciate their investment in your business. Building strong relationships will lead not only to greater satisfaction but also word-of-mouth referrals that could bring in even more happy customers!
5. Advertising Costs
Measuring your Amazon ACoS (advertising cost of sales) is a powerful tool in understanding which investments are paying off and allowing you to keep the profits you work so hard to make. Finding the right balance between reaching out to potential customers and preventing unnecessary spends can be difficult but highly rewarding when done correctly. If an advertisement is successful, not only do you achieve a satisfactory level of sales but you also reduce the amount spent per sale – resulting in more profits from each purchase. Keeping track of one’s ACoS over time allows businesses to ensure that their investments are beneficial and therefore, points them towards being more successful with every move they make on Amazon.
6. Brand Protection
If you’ve ever felt helpless as an Amazon 3P seller when trying to protect your brand from plagiarism and knock-offs, never fear! With some strategic investments in brand protection services or by engaging the help of a trustworthy lawyer for intellectual property defense, sellers can rest assured that their hard work will be safeguarded. Furthermore, ramping up policies regarding who is able to purchase products from them plus using helpful tools like Amazon’s Brand Registry are surefire ways to keep counterfeiters at bay – now THAT’S what we call security with style!
7. Fraud and Scams
Amazon sellers, beware of fraudsters on the loose! Don’t let sinister scammers take advantage – arm yourself with fraud prevention tools and keep a keen eye out for any suspicious orders. Establishing strict return policies is another way to stay one step ahead of would-be schemers. Outsmart them at their own game and safeguard your merchandise from unethical individuals lurking in the shadows!
It’s also important to keep an eye out for other “red flags”, so you can steer clear of scammers and cheap counterfeits. A few key indicators to watch for include looking out for bad or fake product reviews, suspiciously low prices, recent create dates, suspicious seller names (if a name is too generic or vague, chances are it’s not trustworthy), bad product image quality, or longer than usual shipping times. By double checking for these elements before making a purchase, you can save yourself a whole lot of trouble down the line!
8. Intellectual Property Issues
When it comes to selling on Amazon, you need to be extra vigilant about intellectual property as there are a lot of complaints that can result in your account being suspended. Even when what you’re using is legal, research and double check so that your products comply with all the necessary regulations – then you won’t have any unpleasant surprises! Note also: some other sellers may try to get yours suspended for their own benefit (taking out a competitor) by filing unfounded IP grievances against your listings – stay alert and protect yourself accordingly.
9. Return and Refund Issues
With customer satisfaction driving the e-Commerce game, Amazon sellers need to take a proactive approach with their return and refund policies. Refunds can be tricky business – avoid buyer’s remorse by setting clear expectations on your storefront through robust returns and refunds options tailored specifically for you! Let customers know that they’re in good hands; try offering incentives like an unbeatable satisfaction guarantee or other enticementing forms of loyalty. That way it’ll give them confidence when making purchases from your shop!
10. Product Listing And Optimization
Make your product listing irresistible to customers! From catchy descriptions, strategic keywords and the perfect categories – make sure you give shoppers an unbeatable shopping experience with optimized Amazon listings. Invest in tools (like Heliums 10’s Product Listing Optimization) or services that can help (or hire a specialist!) so you don’t have to worry about making it happen yourself. Believe us: You won’t regret taking this route for stronger sales success!
11. Product Sourcing and Selection
For Amazon sellers, the challenge of finding profitable products can be a real doozy. You need to consider market trends and customer demand- no small feat! The good news is there’s help out there, from services that make product research easy peasy to teaming up with manufacturers or suppliers who have their finger on the pulse of what sells best. So get ready for top selling success – you don’t have to go it alone!
12. Product Reviews and Ratings
As Amazon experts, we all know customer feedback is the foundation of a successful Amazon business. However, getting those precious reviews and ratings can be somewhat difficult – but it doesn’t have to stay that way! Through utilizing Amazon’s one-time review request tool, adding TOS-compliant packaging inserts to encourage customers to register their purchases for offers or promotions (especially when using QR codes), responding quickly and professionally to negative feedback and investing in tools/services designed specifically for managing product reviews & ratings… sellers will soon find themselves surrounded by happy customer testimonials.
13. Product Packaging And Labeling
Navigating the intricacies of product packaging and labeling can be a seemingly impossible challenge—like solving an intricate, laborious Rubik’s Cube. But don’t despair! Amazon sellers have options to make this headache-inducing task easier, from investing in tools or services that are specifically created for it, to partnering with experienced professionals who provide premier packing solutions. Or if you’re really ready to get serious about avoiding complications down the line? Consider using Amazon’s powerhouse fulfillment service – no more puzzling over shipping and handling procedures ever again!
14. Customer Acquisition And Retention
As previously mentioned, keeping loyal customers can be a game changer. Amazon sellers can take big strides in business growth when they deftly manage the tricky balancing act of customer acquisition and retention. To help, there are tools or services on hand to make it easier – we discussed how a clever loyalty program that rewards customers for coming back can work, time and again! But there are also other strategies like contests, product launches, and incentivized segmentation questionnaires. It’s risky business going out all alone… so maybe give those savvy solutions a try?
15. Order processing and tracking
It’s no easy feat to stay on top of the world of e-commerce! Orders need tracking, shipping must be promised and fulfilled, AND customers deserve an update when their precious parcels are in transit. For Amazon sellers looking for help with these demanding tasks – fear not! Investing in tools or services is a great first step; but consider taking it one better by outsourcing order processing and tracking duties to third parties – then you can hit cruise control while your orders get sorted like clockwork & leave customer service satisfaction sailing through the roof.
16. Accounting and tax compliance
For any Amazon seller, tax compliance can be a complex financial puzzle to unravel. After all, nobody wants unexpected surprises from the IRS! Fortunately for sellers, there are accounting and tax software programs available to help simplify the process – or even employ an expert who knows their way around taxes like a pro. But if you’re looking for extra security with your finances (and peace of mind), consulting with a qualified professional may be precisely what’s needed to ensure everything is being filed correctly in accordance with government regulations – no costly mistakes allowed!
17. Marketing and advertising strategies
It can be a unsettling task for Amazon sellers to get their business noticed, but with the right strategies and tools in place they’ll have shoppers flocking! To stay ahead of the competition – without breaking your budget – investing in professional guidance or digital resources will help you tap into target audiences quickly. Get creative and let those sales skyrocket!
18. Product development and innovation
Amazon sellers need to continuously innovate and improve their products in order to stay competitive and meet customer demand. This can be a challenge, as sellers need to consider factors like market trends, customer feedback, and product features. To alleviate these challenges, sellers can invest in tools or services that help them with product development and innovation. Sellers can also consider hiring a specialist to help them with these tasks.
19. Website design and development
For e-Commerce entrepreneurs looking to make a lasting impression with their website, having an intuitive and visually appealing design is key. It can be challenging to strike the perfect balance of professionalism, user-friendliness, and search engine optimization – but it doesn’t have to stay that way! Solutions like specialized tools or services allow you to get your site up and running quickly without sacrificing quality for convenience. If you’re feeling especially savvy about the situation why not look into hiring an expert? One thing’s for certain: regardless of how far down the rabbit hole (or web page) goes – investing in proper design & development will guarantee success every time.
20. Legal and regulatory compliance
Don’t get caught in the compliance trap! Amazon sellers must be careful when navigating through the ever-evolving legal landscape. To help ensure they remain up to date and on track, savvy entrepreneurs can invest in tools or services to ease their burden. Those feeling overwhelmed by regulations should also consult a specialist lawyer who knows all ins and outs of applicable laws – it’s better than rolling dice with your business’ fate!
Don’t Let Challenges Defer You
As you continue you eCommerce journey on Amazon in 2023, you probably already know most of what we discussed! But how many of you are using or have used influencer marketing as part of your strategy? Influencer marketing could help give your business a boost, provided that your brand has experienced great success and you want to take it to the next level. This tactic is increasingly becoming more popular as companies look for better ways to engage with potential customers. Let’s not forget that it also helps provide valuable insight into what customers really want from their purchases. We at Influx understand how difficult this journey can be and we’re here to help. Our team of experts can help you increase traffic for your store and get the most out of every marketing initiative. Get in touch with us—we look forward to hearing from you!