Turnkey Product Management experts, Jeff Lieber and Jenna Lieber, know a bit about boosting Amazon sales. With over ten million in annual revenue and 150,000+ items sold to date, I thought it might be fun to pick their collective brain, and see if I could get them to share a few of their secrets on how Amazon sellers, just like you, can overcome the obstacles to scaling up quickly, to sell more, faster.
With that, let's jump right into the Q&A session where we identify three easy ways you can boost your Amazon sales.
Q: What do you think sets sellers apart on Amazon?
We like to test a ton of different sales strategies. In our opinion, sales strategies are what set all the Amazon sellers apart from one another. Different strategies will work for some different categories that just don't work for others. It's important to not be afraid to test and see what works best. Find what works best for you and then you expand on it, and grow it. A few that we like are split testing, marketing inserts, giveaways, tiered promotion, taking advantage of the holidays, and re-targeting through Facebook.
Q: Let's talk split testing. Is this new or the old-school split testing?
Split testing is not a new concept but it's something that is easily missed or neglected. With split testing it's best to keep it simple. One of the easiest things to split test is price. Let's say you originally priced your product at $50 flat, you may want to do a test at $49.99 or $59.99. Sellers are always surprised at the difference that penny can sometimes make.Maybe the price elasticity is not what you thought that it would be. And the only way you are going to know is if you are willing to split test.
Expert Tip #1: Do a full seven-day test at $49.99 and seven days at $50. Measure the conversion rate, measure the total revenues and profits.
Expert Tip #2: Once you pick the winner, stick with it and try testing something else. Maybe try raising the price again, or test the image, but keep it to one variable at a time so you can properly measure the change attributed to that specific variable.
Q: What's a boost tactic that you don't see others using that much?
We love using printed marketing inserts. This is a topic not many people talk about, but they really are a great way to interact with the customer who's buying your products. This is a great opportunity for you to put something in your packaging that will make the buyer feel like you put extra time and thought into this order.
Expert Tip #1: Add value for the customer by saying, "Here's a free eBook or a promo code to use on your next purchase." It could also be, "Follow us on Pinterest or Facebook for more deals on Amazon."
Expert Tip #2: Make sure you're including Amazon in those marketing inserts so you're within their terms of service.
Q: Do reviews matter and what are your review generation secrets?
Amazon has changed a lot over the years. We've been selling on Amazon for over five years now. Back then, there were almost no regulations on reviews. People could buy reviews. But now, you have to be a real company to be successful on Amazon. You have to have a great product, give a good customer experience, and get the reviews. And that is what you want to focus on.
Expert Tip #1: Do a self-evaluation where you identify your greatest assets. Whether it's 50,000 Facebook or Instagram followers or 400 email addresses on your email list, focus on what you can do with your assets first.
Expert Tip #2: When you do make a sale, make sure your auto-responder is set up with an authentic message that doesn't seem bothersome. Focus on building raving fans and the reviews will follow.
The Tip of the Amazon Iceberg
These tips are only make up about one third of the podcast conversation we had because there are so many things you can do to boost your sales, but the real secret to selling more is this: be excellent. Offer an excellent product at an excellent price, be excellent to your buyers, and create an experience for them they want to come back to. These expert tips help you with the details but the majority of your focus should be on excellence.