Amazon has proved itself a retail giant by surpassing $107 billion in sales last year. Amazon sellers are competing to spot on the top lists. We have interviewed amazon experts to discuss the latest trends and strategies that will surely help you boost your sales.
Troy Johnston is the co-founder at Seller.Tools that provide a suite of optimization tools based on actual Amazon data. He is focused on delivering data-driven solutions to clients alongside unique features.
Anthony Lee has served various companies for over seven years as a content manager, consultant, COO, CEO, and Amazon Subject Matter Expert. Anthony’s primary focus is buyer’s psychology and Amazon’s ranking algorithm. He has helped Amazon sellers to grow their business with his vast vision and actionable works.
The following topics are discussed in the video:
- Amazon Today: Recent Changes & Trends.
- Golden Nugget Optimization Techniques.
- Data: Using It To Your Advantage.
- How To Utilize External Traffic?
- Future Of Amazon & Using Billo
1. Amazon Today: Recent Changes & Trends
Question: What things about Amazon have changed the most in your work this past half a year?
Anthony: Amazon is constantly evolving. From the agency’s perspective, managing PPCs is the real challenge. The advertising costs and CPCs are rising day by day. But on the other end, advertising brings customers and proves itself worth the money.
COVID has messed up things a lot. During COVID, people were forced to stay at home and order stuff at their doorstep. There was less need for advertising, but when the situation was under control, people started shopping personally. With this, there was again the need for advertisement.
Troy: The e-commerce market has evolved during COVID times. On the one hand, there were more sales, but on the other hand, supply chain issues arose. It became difficult to maintain the inventory. We can use amazon tools and different strategies to boost our business, but without a supply chain, we cannot do anything as we cannot generate revenue without it.
2. Golden Nugget Optimization Techniques
Question: What are the golden nugget techniques of optimization that work best for you currently?
Anthony: Amazon makes money through sellers, so they provide different optimization tools to facilitate them. For example, you can use an array of promotions, add coupons, virtual bundles, etc.; this is one way to get more sales. But if you have a big budget, then go for PPC.
There is various software available to help you put your data in one place. You can also benefit from the free-to-use Seller Tools Chrome extension to improve your research and make better decisions.
Troy: You can use different approaches to make your PPC strategy outstanding. The cornerstone aspect is getting your keyword research done brilliantly. Searching visibility of the keyword is the essence of optimization.
Question: What are the ways you’re currently keeping your clients or your listings high?
Anthony: The best way to keep your listings high is to build a history of indexing. Try to launch your product at a peak time. Carry out heavy upfront research as much as possible. Keep your keywords up to date.
Troy: Practical optimization, such as updating titles, adding bullet point descriptions, etc., are required to keep listings high. Keep checking the reports for keyword ranking. Use different strategies for optimizing the keywords.
3. Data: Using It To Your Advantage
Question: In what ways are you utilizing data to your advantage in today’s Amazon? Are there any new data analysis patterns that draw your attention when working with optimization?
Anthony: There was a time when certain data was gated and hidden, but now all the data is upfront. Amazon is sharing the search volume of keywords, providing a new opportunity to explore. This approach provides more insight and helps in carrying out accurate keyword research. In addition, you can find opportunities to get your hands on products with high search volume.
Troy: We work with a lot of small businesses. We use data to perform analysis and generate reports to calculate performance. Search volume through product opportunity explorer is a great validation metric. Looking at conversion rate and sales by keyword is excellent to benchmark your session and unit percentage for your product at the keyword level and helps at the discovery phase of the product research.
We use data to calculate click share, sales share, and conversion share at the keyword level. You can use this information to choose a perfect keyword by looking at the conversion rate and sales driven by that keyword.
4. How To Utilize External Traffic?
Question to Anthony: Could you expand on how you use Amazon Attribution to drive external traffic?
Amazon loves advertising and bringing external traffic to its website. They think of it as a better opportunity with their products on other platforms. Amazon relies on brand referrals to get external traffic. If the seller has a reasonable budget, then DSP is the better opportunity to drive external traffic.
Question to Troy: Let’s discuss how to make the most out of the Brand Referral Programme.
With Brand Referral Program, we now know the power and usefulness of external traffic. Being able to drive traffic through high domain authority websites has a significant impact on keyword ranking. This program has boosted sales. For example, you can use different platforms like Google, Twitter, Instagram, etc., to bring external traffic to your Amazon store and generate more revenue.
5. Future Of Amazon & Using Billo
Question: Use your time machine and go forward 1-3 years. How has Amazon changed, and how can you prepare for that change?
Troy: It will not be enough to rely on advertisements or DSP medium alone. There is so much you can do with what is available. The additional properties and more acquisitions Amazon will take advantage of will likely make it grow even more significant.
If you are innovative and willing to embrace the change Amazon offers, there is a chance of success in the coming years. Amazon is a highly leverageable e-commerce giant, and it is going to improve with time.
Adam: Embracing the change is an important thing. Back in 2007, there were about six categories, and now there are around 300. So, the brands, the sellers, and the agencies have adopted new features, and that’s why we all are here.
Anthony: In the coming years, we will see more paid distributions on the website. From the sellers’ perspective, smart sellers interested in and taking advantage of the opportunities before they become saturated will start moving to the DSP platform.
Right now, it is undervalued real estate. In the coming three years, there will be tons of people; the business will be more crowded; a large budget will be needed for advertisement. As a result, Amazon will become more established and mature.
Question: How can you use Billo videos and videos format in general on Amazon?
Troy: Amazon will likely look more and more like a social media platform with media-rich assets like videos playing a massive role in the success of a listing. For example, video ads, related video shorts, product page videos, FAQ, How-to, Q&A will soon serve not only as a polish for a listing but also a legitimacy factor. Often as Amazon sellers, we forget how important the detail page is, like a first impression to the customer, and making it more engaging is a way to go.
Anthony: First of all, video has proven time and time again to be the most engaging format so far. Until we have something 4th dimensional as a new common format, it’s the best way to go so far. UGC content will always be king, as people seek authenticity, especially younger Millenials, Gen-Z, the actual current controllers of the Amazon marketplace. UGC video can not only help your Amazon listings drive engagement; these can also be used for engaging through yet to be very competitive advertising platforms like Snapchat and TikTok.
Our Amazon experts have shared their thoughts about the recent changes and trends in Amazon listing optimization and external traffic. To get the maximum benefit from these pieces of advice, watch the full event recording above.