Online Marketplaces, such as ETSY, Amazon and eBay are filled with millions of competing products and in such competitive marketplaces, you should consider different methods of promotion to appeal to different demographics.
You can actively promote sales by networking, paying for online advertising or finding promotional partners and alliances - all rather difficult to measure the ROI. Today we would like to share 3 ideas with you to increase organic sales.
Fortunately, not many people are using these awesome techniques to help develop sales. Unfortunately, they are learning quickly and as such, it’s important you implement these now and keep working on it.
Improve Your Product’s SEO
Amazon has a search engine of its own, much like that of Google. This means that one of the ways that you can get in front of more of your ideal clients is to rank higher for specific keywords.
To do this, you must know exactly what your clients are searching for. Earlier this year I read “Money: Master the Game” by Tony Robbins. Though it is probably one of the best books on investing, its title does not have that specific keyword within it.
As a result, when searching for the term “investing” I’m presented with options such as:
The titles of these two books rank well, because the sellers have included many effective variations of the keyword. For example, try searching for the terms:
- investing for beginners
- guide to investing
- intelligent investing
- value investing
And you’ll notice that the two books are in the top 3 search results for the term they’re trying to rank for. You should also include as many keywords as possible to ensure your product appears often.
Additionally, if you delve into the product pages of each of these books, you’ll notice that each one uses many of these keywords within the descriptions.
PS. On online marketplaces, customer reviews are exceptionally important when increasing sales. Click here to find out more: http://goo.gl/Cy8fWr
Use Vendor Coupons
Most online marketplaces offer you the ability to create a unique discount or coupon.
Amazon allows you to create coupons for any of your products. Coupons are a great promotional vehicle, especially online where people can acquire and use them with just a few clicks.
You can easily set up your own coupons in the vendor central (Amazon’s control panel). Amazon’s system guides you through the entire process and also gives you complete control over your budget. Setting a maximum budget will automatically deactivate the coupon when the amount you chose is exhausted.
Coupons are more effective than many other forms of promotion because they have their own “sales rank,” meaning that more popular coupons will show up higher in the list.
Increasingly, people search for discounts and coupons before purchasing product. Amazon displays your coupons extensively on their site and their redemption fee is low. Using coupons is probably the easiest (and cheapest) way to increase your product's visibility.
One downside is that the discount does not pass through to buy box pricing logic, so it won't help you win the buy box against third-party merchants and does not influence the price shown in search results.
Always Sell At The Best Price With Automated Tools
Finding the best price point for your product is harder than many would expect. As a seller you want to maximize both sales volume (i.e. lower price) and profit margins (i.e. higher price).
One way to do this is to constantly look at your competitors and adjust your prices accordingly. This method is not only time-consuming but also fails to take into consideration many other key factors that determine your product's overall ranking on Amazon.
We suggest a different, more effective approach: Instead of repricing your products based on your competitors’ prices, using repricing software, your products will always be priced at the best possible value.
- SEO: Always evaluate what you’re doing to improve your SEO. Keep an eye on your competitors and see what they do!
- Use Coupons: Create coupons and publish them on coupon sites to get backlinks and increase customer volume.
- Use price automation software: Always ensure that your product is correctly priced, try experimenting with the price to see how sales vary.
Do you have any recommendations. What has worked for you to increase online sales? Tell us via Social Media!