How to Maximize Your Q4 Sales on Amazon
It is that time of the year again! The holiday sales rush that is Q4 has finally arrived. The numbers from last year are impressive to say the least. Amazon’s fourth quarter sales in 2015 were up 24.1% from 2014, and it is safe to bet we can assume another massive increase this year. Retail sales as a whole are continuing to shift toward eCommerce with total 2015 Q4 sales up 14.5%, and eCommerce sales increasing to 7.3% of total retail sales from 6.5% the prior year. We don’t believe this trend is stopping anytime soon and as an online retailer it is important to take advantage of Q4! That is why we’ve put together our top tips for how to maximize your Q4 sales on Amazon!
Our clients are constantly looking for ways to improve their Amazon performance. Implementing the following tips into your eCommerce strategy can get you a huge boost for Q4 and hopefully lead to sustained sales beyond it!
Increasing Bids for Top Keywords
Advertising campaigns are a key step in how to maximize your Q4 sales on Amazon. Campaigns can take a while to refine and we recommend continuing to work on your campaigns throughout the year. Many sellers will only implement campaigns for the fourth quarter which makes advertising space much more competitive. You will need to increase your bids to continue to maintain the same visibility or grow your visibility on Amazon. First look at your best performing manual advertising campaigns and identify the top converting keywords. Increase their bids to ensure that you will still be at the number 1 spot for those keywords. Then look at keywords that are performing badly or not as well and consider pausing them or decreasing their bids. Compare the data on a week to week basis to ensure that your impressions are increasing as this will help you know if you are the top bidder for that keyword.
It is not a big deal if you currently do not have campaigns running. Create automatic campaigns to begin gathering keyword data. The campaigns will continue to run throughout the 4th Quarter, but we will use the data collected to help implement manual campaigns. After the first week, create a manual campaign with the data collected and use higher bids on the top converting keywords. This will help you get additional sales and compete with the products on page 1. You can continue to create additional campaigns as more data is collected, however we would recommend creating a separate campaign with additional keywords to avoid interfering with prior campaigns budgets and daily spend.
Promotions to Increase Visibility
The promotions that you can run as a Seller Central vs. a Vendor Central user differ greatly. Utilizing the promotions available in either platform can help your Q4 performance. Seller Central can create discount promotions, lightning deals as well as free shipping deals. Discount promo codes can be used in advertising campaigns and even displayed on your product page listing. For new sellers on Amazon that we’re not able to get their inventory into FBA for Q4, creating a free shipping promotion can help convert shoppers to customers.
Vendor central promotions such as Best Deals, Coupons and Price Discount give products more visibility on the Amazon platform. All 3 get a special badge on search engine results pages for their respective discount, and coupons and best deals appear on the Amazon “Today’s deals” page. Both Seller Central and Vendor Central users have access to lightning deals. We typically do not recommend using lightning deals as a promotion type unless you have excess inventory in stock. The sales spike from a lightning deal can be helpful, but we prefer a steadier flow of sales through using these other promotions types.
Promotions will help you increase your sales history. The lower pricing can help you become more relevant on Amazon search engine results pages and increase conversion rates. The primary goal of the promotions will be to boost your Amazon metrics so that you can sustain a higher ranking after Q4. Using promotions in combination with social media advertising can be a powerful way to drive more sales.
Using Effective Pricing to Increase Rank
We recently discussed this topic in depth but need to mention it again. Pricing on Amazon is the only primary factor within the Amazon A9 algorithm that sellers have any control over. Pricing has a negative correlation between price and page views, sessions, conversion rates and orders. As you increase price, these other important algorithm metrics will decrease. Test your pricing out to see if you are missing sales. You may notice that you get a much higher sales volume by dropping your price slightly. The increased sales and conversions will boost your product up the ranking. Yes, this is how to maximize your Q4 sales on Amazon, but it can also have knock on benefits to the rest of the year. The increased ranking may stick and you could continue to be on page 1 for a long time!
Using Social Media to Market Your Products
Social media marketing can provide some huge benefits to your Q4 sales. You can use social media to advertise promotions you have created and to identify new potential customers. Advertisements on Facebook and Twitter can redirect to your Amazon store, your Shopify store or a landing page. Directing to Amazon can help you get additional sales and boost your product up the search engine results pages. Directing to your Shopify store can help you get additional sales without all the Amazon fees. Using a landing page with an opt-in can help you build an email list of potential customers that you can retarget in the future and use to build out advertising campaigns.
Vendors have another option for directing traffic. Vendors can direct customers to a Coupon Landing Page (CLP). CLPs feature the coupons available for your products on one page. Reaching customers on social media is a great way to increase your sales. You should strongly consider integrating social media into your Q4 strategy to maximize your sales.
Insert Holiday Keywords into Your Listings
A simple way to potentially increase your sales is to add holiday keywords into your listing. Many people are searching Amazon for “gifts for dad” or “the perfect Christmas gift.” These are typically low competition keywords on Amazon and you may be able to index for them quickly. Try adding the keyword chains into the back and front-end of your listing. To check if you have indexed for the keywords, search for the phrase on Amazon and see if you appear. This can be a quick and simple way to gain additional sales.
We hope these tips have shown you how to maximize your Q4 sales on Amazon. The 4th quarter is a great time to grow your brand on the Amazon platform. The goal of any Q4 strategy should be to increase your product relevancy on Amazon. Increasing your relevancy will continue to increase your sales during the holiday period and allow you to continue ranking beyond Q4. Take full advantage of Q4 2016 and grow your business today!
Contact AMZ Advisers to learn how to maximize your Q4 sales on Amazon