Whether or not your brand is as yet connected with Amazon, you need to consider developing and improving your Amazon strategy. When Amazon was just getting off the ground, there was not much competition to speak of. There were just a few sellers on the platform and not a lot of categories available. It was just another online retailer where the then few online shoppers could go to look at books, baby items, and a couple of other goods. Today, Amazon is much more than your average online store, and the number of online shoppers is fast taking over the number of people who still prefer to make their purchases at traditional brick and mortar stores. Amazon is an eCommerce force to be reckoned with, and the platform is far from done making improvements and expanding into new territory. Your Amazon strategy can spell the difference between your online success and relegation to the stagnant pool of mediocrity.
Why You Need an Amazon Strategy
About half of the world’s population is shopping online. In this century, the trends show that we are going to see that number steadily increase. Your brand may be making a killing without Amazon affiliation, and you may be thinking that this means you don’t need it. The sheer number of people who trust and love this online giant should, however, get your business sense tingling. If you have plans of expanding or want to grow your business quickly and without huge investments, Amazon is the answer.
Half of the customers who buy from you right now are on Amazon as well, comparing prices and selections, reading reviews and viewing ads that are served to them based on their particular interests. You may not want to be a seller on Amazon because you do not feel that it adds value to your brand, and that is perfectly fine. There is a lot more to Amazon than just product pages, however. Amazon provides a wide range of opportunities to businesses for branding, data analytics, marketing and advertising. Still, hardly any brands, even those who are taking advantage of these openings, have an Amazon strategy. If you make that move today to develop your Amazon strategy, you can easily take the lead even if you do on want to direct sell on the platform.
Your Amazon Strategy is Prime
Many companies today have highly developed advertising strategies for search and social media. Although Google, Facebook, and similar platforms have large audiences and well-developed algorithms, they are by no means primary business channels. Amazon is where your target market is hanging out, and an Amazon strategy is what can help you reach them and turn them into loyal, paying customers. That said, below are a few ways that your brand can cultivate an Amazon strategy to advertise efficiently and capture your targets.
Amazon Strategy for Advertising
The Amazon system is built to align merchandising and media with retail. Your strategy must take these three areas into account for it to bring your business its maximum potential for returns on the platform. Amazon advertising opportunities are built on a strong foundation of customer data and analytics combined with a range of channels for delivering ads to a variety of audiences.
Your business can take advantage of Amazon advertising on the platform itself through product page ads or exclusive ad real estate, or use Amazon’s powerful data to follow users around the Internet and capture them there. Understanding how Amazon works all the elements together is the key to developing the Amazon strategy that will drive interest in your brand. The great amount of data that Amazon collects on online shoppers is an invaluable resource. Optimizing your advertising opportunities into a sharp Amazon strategy can bring those additional shoppers neatly into your fold.
55% of shoppers go to Amazon when they are looking for a product. About half of these shoppers will not end up buying on Amazon, but they all appreciate the large number of listings and reviews that they can find there. This information helps them find exactly what they are looking for, compare quality and pricing, and make a decision on which item is the best one in which to invest their hard-earned cash. The reviews are an especially interesting point for all online shoppers. According to consumer data, 90% of shoppers will look to reviews to help them make their purchase decisions.
Find and Connect with Your Best Customers
Many more opportunities to connect with consumers exist in our highly connected world. Going to where the consumer is no longer an expensive and arduous process. Your Amazon strategy must take into account all the different types of virtual places where consumers like to spend their time so that you can meet them there with something interesting on offer. Because Amazon has branched out into so many areas, it is a strategic platform on which to maintain a brand presence.
We know that half of all online shoppers are on Amazon, but knowing how they behave on the platform is fundamental to your Amazon strategy. Aside from making purchases, which we now know only half of them do, shoppers hang out on Amazon for the exclusive video and gaming-related content. Others remain loyal to Amazon in anticipation of expansion plans for the epically convenient Amazon Go experience. If these and any other areas are relevant to your brand and you can offer value to these audiences, then you can leverage different degrees of affiliation to further optimize your Amazon strategy. Look into all these different areas and see how you can link your brand in to reap the benefits of the broad network.
Making use of Amazon’s powerful data gathering and analytics on top of those used by the top search engines and social networks makes for a solid strategy. Amazon Retail Analytics (ARA) and Amazon Marketing Services (AMS) are both powerhouses that your business can use to get fresh and precise data on consumer interests and preferences. Use these to create optimized content that can work on any platform to engage consumers and draw in more sales.
Start building your optimized Amazon strategy today and watch how it can turn around consumer engagement and sales for your business. The digital world is a different playing field. Amazon has been a successful forerunner because it understands the new online shopper and can provide significant insights to sellers striving to keep their businesses relevant so they can reach the highest levels possible in an online-driven market.