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According to this BusinessWire report, Amazon’s Q4 last year (2015) was a record-breaking one.
With more than three million customers joining Prime in the third week of December, Amazon managed to ship over 200 million more items during the holiday season and Prime Now had its busiest day ever on Christmas Eve. There’s no doubt that Q4 was a major part of Amazon reaching a huge milestone: over $100 billion in revenue for the year! And Amazon hasn’t slowed down. Their growth and profit margins have only continued to increase in 2016.
How can you capitalize on Amazon’s projected Q4 growth this year and, specifically, experience an incredibly successful holiday selling season?
Focusing on these four areas will help set up your business for success!
- Inventory
Clearly customers want Prime during the holiday season, so keeping a consistent, healthy inventory is critical for making your own Q4 one for the record books. If you manufacture and ship from China, give yourself even more extra time to get your inventory home (check out our post about Chinese Holidays for a few tips on this). Planning so far ahead may feel tedious at first, but it will ultimately put your company in the perfect position to stay far into the green through the end of Q4.
- Optimize Product Pages
When customers land on your product page(s), getting them to click ‘Add to Cart,’ can be one of the trickiest tasks of all. We know this is obvious, but we cannot over emphasize it enough: the imagery and visual content of your products plays a huge role in increasing your sales. So does regular upkeep on your wording. Make an effort to stay in touch with relevant analytics, and update product descriptions when necessary. Revisit backend keywords to ensure the highest volume search terms are included in your listings, and reevaluate your product titles to ensure they are keyword-rich and highlight your products as great holiday gifts!
Here are a few questions you can ask yourself: Do you have holiday-specific images of your products? Are your bullet points eye catching? Do they communicate the value of your product as a relevant gift for the holidays? Your answers to these questions will play a key role in driving up sales and ensuring that you have your most successful Q4 to date!
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- Pricing
Take some time to survey your competitors and see where your prices fall in relation to similar products. By benchmarking your prices with your closest competitors – particularly during the holiday season – you maintain more knowledge about your particular market and a stronger sense of where you stand.
- Promotion & Sponsored Ad Campaigns
Increase traffic to your product pages by developing product promotion plans. Consider quantity discounts or cross-selling discounts with other items in your Amazon catalogue. Lightning Deals can also be a great way to bring visibility to your products.
An efficient, targeted ad campaign is a strategic way to bring your product(s) to the attention of a wider customer-base. It can also help increase traffic and overall conversions. In our experience, it’s essential that your campaigns are up and running two to three weeks minimum before an event or holiday (Halloween, Black Friday, Christmas, etc.). If your analytics indicate a specific ad is likely to bring you more growth, you may consider increasing your daily spend on that campaign!
Now take these 4 tips and run with them! And while it’s possible to do it all on your own, always remember that the experts at Private Label University are just a phone call, email, or simple click away. Every year we take great pleasure in helping online sellers get a “leg up” among their competitors and enjoy watching them experience a wildly successful end to their calendar year!
How to maximize your Q4 on Amazon: Part 2
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