Nobody wants to be the one that calls it, but sometimes, it is the end for some listings. Deciding between closing a listing and trying to salvage it is never an easy one, and it happens more than you'd think. One day you're sourcing a product with lots of promise, and suddenly, the marketplace is flooded with that same SKU. Don't worry, you're not the only one - many sellers fail until their second or third listing attempt. Only 54% of sellers make it on their first launch so you might want to slow down on packing it up - there may be some remedies to your struggling listing.
The product launched later than expected.
You've done your research, sourced the product, list your item, and splat - it goes nowhere. The process took longer than expected, and now the marketplace is crowded, and the demand has dissipated. It happens more than you think.
Try this fix:
Increase in competition
You were doing well with a product, but all of a sudden, you're fighting for sales against 100 other sellers you did not anticipate. You still rank well, but your sales have plummeted.
Try this fix:
You chose a product that was incredibly popular - at the time. Now the trend has fizzled out, and you're left with a warehouse filled with chia pets and fidget spinners that simply are not going anywhere—also, storage fees.
Try this fix:
Your product is not getting the attention you had hoped for - in fact, it's getting a lot more negative attention than you expected. For some reason, your absolutely amazing, winning prize product is not cutting it on Amazon, and you can't figure it out.
Try this fix:
If all else fails, and you've come to a decision, it's time to take action. You're going to want to remove inventory from the Amazon warehouse to avoid fees or liquidate it if you have to. Destroying a product seems like a last resort, but it can save you from incurring inventory fees. We know it's not easy - but sometimes cutting your losses and trying again is your best option! Learn the lessons and apply them to your next SKU; who knows, that one may be a winner!
THIS WEEK'S BITES
TOP 5 WEEKLY WATCHLIST
How to Start & Avoid Inventory Mistakes | Amazon Authority
How To Do Amazon Keyword Research For PPC Campaigns 2021 | Tatiana James
Benefits of Brand Registry | Amazon Authority
Selling on Amazon 2021 | Cupcake Trainings
I Tried Amazon FBA For 2 Weeks and Here’s What Happened | Debt to Dollars
May 26, 2021 - Change to Returnless Refunds for international seller-fulfilled orders: Effective May 25, 2021, if you fulfill customer orders in the US from a country outside of the US, you must provide a valid US return address (for items under $25).
May 31, 2021 - Extended disbursement reserve period: Sellers who continue to use a bank account from a non-participating PSP after this date will be subject to an extended disbursement reserve period of up to 21 days after the latest estimated delivery date.
June 21, 2021 - Update to Amazon US referral and FBA fees: Amazon is making modest increases (about 2-3% on average) to fulfillment fees, in line with or below industry averages. We will also reduce certain fees, like the returns processing fee.
July 15, 2021 - Disbursements stop for non-approved PSP to sellers using non-participating PSPs until they switch to a participating PSP or use a bank account directly issued by a deposit-taking bank
NEW ON AMAZON
We all know that customer experience is a huuuge driver to seller success on Amazon - right? It's 2021, and the marketplace is filled with sellers; the ball is in the customer's court, and we need to find some way to stand out and prove why our products are worth the purchase - but how to differentiate and stand out? Customer Experience.
Delivering an impactful experience doesn't ONLY mean fast shipping and prompt customer service anymore (although these are still 100% true). Customer experience is going over and beyond expectations to convince someone to buy your product or buy again. There's importance in building a recognizable brand, which is especially true for private labels.
Six Ways To Deliver a Next-Level Customer Experience
Always conduct exemplary customer service: Let's take it back to the basics because if this isn't pat down - you might as well skip the rest of the list. Whether it's a product inquiry, shipping questions, or complaints, customer service is your brand's opportunity to communicate to the customers directly, so be sure to be helpful, fair, kind, and accommodating.
Use creative and memorable packaging: Obvious but still often overlooked - innovative product packaging is an excellent way for your brand to stand out against boring cardboard boxes and generic packaging. Find a way to present your product recognizably and use it to communicate more information about your brand (social media).
Treat with an unexpected gift: If you have the budget, it's not a bad idea to throw in a little something in the product packaging. A little treat can go a long way when it comes to a fun and personalized shipment. Customers are always excited to get a bonus in addition to what was expected in their package.
Don't over promise in listing copy: Be realistic with what you add to your listing. Overpromising will lead to disappointment and can result in a return or a negative review - and neither of these is favorable. You can have a compelling copy and great pictures, as long as they accurately reflect the product they're going to receive.
Offer a discount: Offering a discount or promotion code can increase customer loyalty and drive repeat purchases. Consider a card/insert in the packaging that encourages another sale. This will likely keep the customer coming back if they know you've got great deals.
Fast Shipping: Always offer fast shipping. Delaying product arrival can affect how your customer's overall experience is with your brand - not to mention; the anticipation increases the expectation. If you use FBA, Amazon will be responsible for the delivery times; however, if not, stay on top of this.
Don't underestimate the importance of a great brand experience, especially if you have a great product you feel confident about, because exceptional customer experience will be the make or break it to your brand's success.
TRENDS TO FOLLOW
Search terms bridge the gap between your listing and a customer looking for your product on Amazon. To have an effective search term strategy, you need to do your research. How are people looking for your product? What terms are they entering? Are there different names for this item? Knowing this information about your product will effectively contribute to how your listing is optimized and the visibility you'll receive.
What are Amazon Search Terms?
They're often referred to as backend keywords and can be found in your listing's edit mode. It's a field to enter the words that help people find your product when they're looking it up in Amazon's search box and can drastically affect ranking.
To use the search term field effectively, you'll need to understand its requirements, limitations, and allowances, and you'll need to abide by them. One of the most important things to know is the byte limit. Amazon limits the length of the Search Terms attributes to less than 250 bytes, so you must select your words wisely.
Deciding on what to choose as these backend keywords can be daunting at first, but with some research, you'll be able to narrow it down to the most relevant terms. Keep in mind that these can be other words your product is referred to or descriptors that are not already included in your listing copy. Steer clear of brand names and competitors, but keep synonyms and alternate spellings in. Find a complete list of search term guidelines on this SellerLabs article.
There are so many different ways to use the Amazon marketplace, and flipping items is one of them. Often people see Amazon as the platform to buy bulk, private label, and the whole works. Still, for some, flipping items is a money-making solution that works. Flipping products consist of selling items at a higher price than what you bought them for and keeping the profit. You may need to do some research to see where you can get the most bang for your buck, but if you're up for it, it may just be a selling option for you!