As players mastering Amazon selling, we’re all working our long game. The world of e-commerce continues to rapidly evolve, so we have no choice. Many of us are learning through trial and error as we strive to conquer the industry. While we believe every mistake offers a learning opportunity, we also know that making these mistakes can kill profits. Even worse, continuing to make them only compounds these losses. We also believe in the potential to learn from – and avoid – the mistakes our respected colleagues have already made on our behalf. That being said, we’re sharing a few of the top profit killing mistakes on Amazon we continue to see time and again, affecting the bottom lines of our community and fellow friends.
In light of the ever-changing progression of e-commerce and Amazon’s constantly updated and altered terms of service, it’s all too easy to make innocent, yet profit killing mistakes on Amazon. Unfortunately, these missteps can be costly, especially when we consider the short and long-term ramifications of Amazon’s penalties, fines, and potential account suspensions. As an Amazon seller, it is your explicit responsibility to keep up with Amazon’s various rules and regulations, including incoming policy updates. Conforming to all these terms and obligations can be overwhelming and that’s where having a network of like-minded professionals to consult with can really strengthen your business and boost your success.
Forgetting the power in proper promotion
The key to optimizing the Amazon seller platform is understanding how Amazon functions. This way, you can adjust your promotional strategies to work with it, not against it. First, Amazon works like most other search engines in several ways. The key to attracting customers to your products is making it easy for people to find them. When it comes to Amazon, there are so many strategies that boost your product listings, but it takes research or an experienced network of successful sellers you can bounce ideas off of to help avoid making profit killing mistakes on Amazon.
Do some research around keyword use when it comes to similar products, or you can turn to your seller network and put the question out to them. Knowing Amazon’s listing rules is key here as well. As mentioned above, fines, penalties, and suspensions can quickly slash your profits. Your seller network, informative presentations, and trusted advisors can help you keep track of rules as they change including character limits, staying away from all-caps or symbols, and more.
Neglecting to leverage the power of Amazon’s seller tools and software is one of the biggest profit killing mistakes on Amazon
As a platform, Amazon continues to lead the e-commerce industry by leaps and bounds in terms of supporting sellers. Innovative solutions continue to be developed to streamline time-consuming tasks such as auto email generation, managing reviews and feedback, and accessing insightful business data and trends. When we’re living in the chaos of simply taking care of our daily workload, it can be tough to focus on these opportunities to elevate our business. Fortunately, Amazon continues to provide solutions that take care of them for us.
It’s a lot to keep up with on top of running a business as the world of ecommerce continues to expand rapidly. At Wizards of Ecom, we’re here to share the combined experience of our successful network, bring you the latest essential content on all things Amazon, and support you to take your business to the next level. Click here to learn more.