The busiest time of year is here, once again. As we tread forward with the holidays, with the buzz around the Amazon Holiday Season Sales, you need to think strategically about how you run your business if you want to succeed as an Amazon Seller or Account Manager.
To make the most of this time, you should be busy with planning for advertising, inventory, and online sales. Follow the steps outlined in this blog to get a glimpse into how you can get the job done without demanding too much from your team. Let’s walk you through the path to guaranteed and hassle-free transactions for your customers at this busiest time of the year.
Overcoming the First Challenge: Promoting Your Products on Amazon
The use of multiple channels is recommended for any type of product promotion. By advertising your new inventory on social media and email, you can reach both your current and potential customer bases. However, it can be difficult to stand out from the crowd, especially when you’re just a single unit of the 10,000 other ads a consumer is said to be bombarded wth in a single day. Creating highly specific pay-per-click (PPC) advertisements is one of the most untapped methods for resolving this issue.
How to Win: Highly Targeted Amazon PPC Ads
If use choose to implement the Amazon PPC strategy, the deal is that you only have to pay digital platforms when a visitor clicks on your ads. This makes PPC ads great holiday tools for businesses of all sizes, not just corporations with massive advertising budgets. Despite their complex nature, there are good reasons for these ads to be so popular during the holiday peak season:
- Quick results: The moment you run an effective PPC campaign, you will see an instant increase in traffic, conversions, and sales. Improvements can be seen immediately, rather than taking weeks or months to manifest.
- Granular control: PPC ads allow brands to adjust their target audience or budgets in real time. If a campaign is performing exceptionally well, you can increase spending on it, and if it is underperforming, you can immediately discontinue it.
- Useful information: PPC lets you track your spending and see how many leads you generate. You can now measure your return on investment and use that data to make more successful advertisements in the future.
Second Challenge: Stockouts
After creating highly-targeted PPC campaigns, the optimal next step is to optimize inventory levels. The worst thing that can happen to Amazon sellers during the holidays is that they run out of stock of their best-selling products.
Businesses lose $818 billion per year due to improper inventory management, with stockouts being the primary cause. These situations result in lost business, increased freight costs, and low advertising budget returns.
Here’s what you can do to avoid stockouts: hire inventory management specialists to help you determine the demand from your e-commerce platforms during peak season.
How to Win: Real-Time Inventory Management
Real-time inventory management is an automated process that companies use to monitor stock movement. This provides a comprehensive view of your product’s journey from purchase to sale. With this technology on your side, you can respond swiftly to supply chain demands, thereby preventing unnecessary stockouts.
Using this strategy with your PPC ads has the following advantages:
- Schedule Production: Whether you have a factory or not, a real-time inventory management system can help you predict future problems, such as running out of holiday supplies. With this information, you can plan ahead and seamlessly meet demand and supply.
- Meet shipping deadlines: Modern consumers are notoriously impatient, with 13% of them sharing negative experiences with at least 15 people, including the late delivery of an item. If you wish to avoid this negative publicity, it is best to fulfill orders on time!
- Improved Decision-making: A dependable system can provide you with all the business-related data you require to make sound decisions. You can confidently determine order quantities using this information.
Third Challenge: Last-Minute Strategies
An added advantage of this holiday shopping season is that it extends into even after the New Year’s. During this time, Amazon sellers have multiple opportunities to reach consumers who wait until the last minute to buy gifts. Nevertheless, this is only true if they are prepared for them.
Don’t panic if you’re as far behind your target audience as you are in strategizing for increased sales during the holidays. There is still time to develop a marketing strategy for your e-commerce company.
How to Win: Amazon’s Marketing Tools
Marketing can save you in a time of crisis. You may have missed out on some consumers, but you can still target those who have no idea what to purchase and those who require additional information about their purchases. Listed below are some methods for appealing to these buyers through Amazon marketing:
- Amazon audio ads: As consumers sing along to their Christmas playlists, you can reach them with content promoting your products through Amazon audio ads.
- Amazon Live: Would you like to communicate with brand-conscious consumers who are ready to complete their holiday shopping? This feature enables you to engage with consumers in real-time, allowing you to do just that.
- Sponsored Display: Remarketing campaigns influence 70% of prospects to select a brand over its competitors. When you’re down to the wire, this makes targeting consumers who are already familiar with your products much more effective.
Even for Amazon sellers, the holidays should be a joyous occasion. Sellryt can help you reach your goals in the expansion process. To ensure your business has a successful holiday season, our e-commerce and marketing specialists will craft compelling PPC ads, implement a real-time inventory management system, and make use of Amazon’s selling tools. Get in touch with us to know more.