We all enjoy our time running a business on Amazon, but we know that if we want to increase that business, it needs constant updating. But exactly what should be updated or expanded? We have sold some items, we have seen some income, and this has been a satisfactory experience; now it is time for the next steps. Let’s look at several tips. Following a set of tips will go a long way in expanding your business as well as your experiences.
Make Plans and Know Your Inventory for Q4
Remember that Q4 is an exciting time and your emotions should be put aside as you calmly lay out your plans for November & December. There will be fees to be paid and inventory to be increased and stocked. If you have had a few years of being a seller, you can review your past years and stock accordingly. You might not have enough income to restock, but that could also mean you will sell everything and not have anything left over, saving you from storage fees. If you don’t have previous years’ data, check with other sellers that have stores on Marketplace similar to your own. You can meet sellers at Wizards of Ecom, the largest group of ecommerce professionals in America.
Optimizing your Title
You want your titles to pop. You need to grab a buyer and hold their attention. This simply means that you may have to rewrite it in order to improve its efficiency. We know there is a formula: “brand name, color or flavor, size or quantity, and keywords.”
You may not know that Amazon has its own unique algorithm, which will determine your ranking, or position. This is important because when a customer is searching for a product like yours, and if it is the most relevant one, it will be placed on the first page. When rewriting, include all the important information that can be seen in a quick glance. Visibility means traffic, which leads to higher sales. Even though there are rules as to what may be included or excluded in your title, you can add things that you feel are special or different about your product.
Outsourcing and Subcontracting
There is a distinct difference between outsourcing and subcontracting. The difference is basically, how much control over the work do you want? Outsourcing is a cost-cutting measure. You hire someone to help with aspects of your product; for example, the assembling or packaging. On the other hand, by subcontracting you hire someone to do a task that you can’t do. It could be making a part of the product, for example. Subcontractors should always sign a contract so the details of the work are agreed upon by both parties. We can’t just look at money earned, but also money spent. Track your outsourcing and subcontracting expenditures to ensure they are improving your bottom line overall.
You’re having fun, but at the same time there are many things to remember and learn. Take a break! You are not alone; help is available. Wizards of Ecom is here to help online sellers succeed. Click here to learn more.