With Black Friday and Cyber Monday fast approaching, Amazon sellers are pulling up their socks to maximize their sales and get a lucrative finish to 2019. Amazon sellers are merely weeks away from the biggest sale of the year, and in order to thrive, they must have an effective selling strategy.
What is Expected This Year?
Similar to last year, in 2019 also, Amazon is waiving its monthly storage fees for new products. However, it is not any relief to the MFN sellers prior to the holidays. Before getting to this year, let’s go through the trends we witnessed at the last year’s Black Friday sales on Amazon –
- Promos were only launched earlier in the week
- While people spent less per product, the sales experienced a notable increase
- Black Friday gained more popularity compared to Cyber Monday
- Cart Abandonment was common between phone shoppers
- While browsing was more on the phone, more buying happened through computer
Last year some sellers, especially toy sellers, received the worst of the sale. This year as well, they will be dealing with complexities of holiday selling requirements in toys and games by Amazon. Their performance metrics are analyzed yearly and on every venue. Amazon tallies up all the seller-fulfilled orders over nine weeks period on every item of the category.
These performance metrics are not the same; they have remained the same for a long time; however, the timeframe has changed. Any merchant who fails to adhere to the requirements will receive a prior notice prior to November 1, 2019. Moreover, the listing for seller-fulfilled games will remain inactive till January 3, 2020. FBA sellers are not off the hook either as their IPI assessment is right around the corner.
Preparing for Amazon Black Friday Sales
Sellers began to prepare for Black Friday sales with the Holiday Guide 2019. And based on this guide, below we have mentioned some of the tips that will help Amazon sellers to prepare for this year’s Black Friday Sales –
1. Get a Heads Start
Don’t wait till mid-November to start promoting your products. With the kind of competition, you are dealing with right now, you are arriving quite late to the party. Stock up your inventory and set up your marketing strategies so that you are all set to go by October. By promoting your deals and offers from early on, you will have more time to attract more customers, thus increasing your conversion opportunities, boost your brand awareness, and capitalize on more sales.
2. Monitor the Trend
Every year popular gift items like toys are quite popular and sell out in no time. While you don’t have to center your selling on these products alone, you should definitely stock them up. Invest time in identifying and assessing prevailing trends and integrate the relevant ones to your selling strategy.
3. Build and Optimize Ad Campaign
This is the time of the year when sellers pull up their A marketing game. With the cut-throat competition among them, it is important to have a strong and optimized ad campaign in effect.
Your campaign should show what you are offering, why the customers need it and why it is different from others. This is the point where you pique the interest of your audience and get them to the product.
It may sound terrifying and overwhelming, but with tons of potent tools in the market, creating an ad campaign has become quite personalized and effective. Backed by relevant data, SellerMotor Amazon seller tool is one of the most effective ones that you can not afford to ignore. It will gather, analyze and learn from your previous campaign data to customize & optimize your campaign structure.
4. Stock Up
The importance of carrying adequate inventory cannot be stressed enough, especially at this crucial time of the year. Running out of inventory before the holiday season is over is one of the biggest nightmares from Amazon sellers. So make sure you get enough stock that will last you throughout the holiday season. This is the time of year, where you don’t want to miss out on any sales opportunity.
5. Be Diverse with your Selling Strategy
Black Friday and Cyber Monday are two of the biggest shopping days on the calendar for Amazon sellers. However, by merely focusing on these two days, you are missing out on profitable sales opportunities around these days. Think from the customer’s point of view; they have one of these two approaches when it comes to shopping on holidays.
A sale before the holiday means that the discount will be greater on the day of the holiday, so they will bookmark your product and come back later.
And there are also shoppers who always worry about products getting out of stock. In order to avoid that, they visit prior to buy granted that you have presented them with the right incentive.
Spread your selling strategies around these days will help you take advantage of customer’s behavior and increase the selling opportunities.
6. Bundle Up Your Deals
If you are selling multiple related products, it is a smarter option to bundle them up to offer a combo deal. Customers are highly attracted to combo deals, so it will be beneficial for you. Furthermore, if you have small, inexpensive items that complement the main product, then you should combine them together, and presenting as Buy Box can make a huge difference. Combining your products to make package is good ideas as it allows you to recoup the discount that you have provided.
7. Get on Social Media
Social media is a great arena to promote your upcoming Black Friday and Cyber Monday deals. However, rather than juggling between all the channels, figure out the ones that are most effective for your business. Along with your paid advertising, you should leverage social media to reach out to your audience and aware them about your interesting offers and deals.
Conclusion
Preparing for holiday season sales can be highly stressful. However, by proper research and leveraging the right technology, sellers can prepare a strong selling strategy that can help to expand brand awareness and boost sales.
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