As you all know, the first-ever Amazon spring sale ended 10 days ago. It hasn’t even been 2 weeks yet talks about the Amazon event—Prime Day 2024—are rolling out like marbles.
That’s why it’s fitting to talk about alternatives and ideas you can explore to plan your event strategy.
- TikTok Shop’s higher seller fees 💲
- Making it big on Walmart Marketplace 💫
- Facebook vs. other social media platforms 🏆
- Unique marketing ideas 🧠
PS. If you plan to participate in this year’s Prime Day, make sure to submit your deals by May 17.
HOT TOPIC
When TikTok Shop launched, it ran a referral fee promotion from April 3 to September 30, 2023 to attract new sellers and help them get started. Back then, only after 90 days would a 2% referral fee be implemented.
💔 Sadly, the happy low-fee days are over. According to a recent report from WIRED, there’s no stopping the scheduled fee hikes for 2024:
- TikTok Shop’s seller fees are set to rise in increments. Starting April 1, 2024, the referral fee will increase to 6%. Then, it will increase again to 8% on July 1, 2024.
- But the good news is TikTok Shop’s seller fees are still lower than Amazon’s (5%–20%).
- Plus, it still offers seller subsidies, such as seller shipping reimbursement.
❓ What does this mean for sellers?
Jasmine Enberg, principal analyst for social media at Insider Intelligence, commented that many sellers benefitted from the incentives. So, they may struggle with the increase.
Sellers who raise their fees risk losing their “shockingly cheap” factor, something buyers are used to. Ultimately, they’ll be challenged to find a new angle other than affordability to stand out.
Still, other sellers on the platform believe this won’t be a big deal. Case in point: Paul Jauregui, who co-founded BK Beauty with his wife YouTube creator Lisa J, says their brand will shoulder additional costs and adjust advertising and flash sales strategies to cope with the increase.
Do you think TikTok Shop’s fee increase will affect its growth? Let us know your thoughts by replying to this email! 💭
TOGETHER WITH WALMART MARKETPLACE
Sell Big, Save Big: Launch your business on Walmart Marketplace
Tired of limited reach and high fees?
It's time to tap into millions of eager customers with Walmart Marketplace!
For a limited time, new sellers on Walmart Marketplace get:
- Up to 50% off on referral fees for three months;
- Up to 50% off on Walmart Fulfillment Services*; and
- Instant access to powerful sales tools like advertising and competitive pricing!
Be the next success story on Walmart.com!
How did Miko grow by 115% GMV in just one year?*
By leveraging the 2-day shipping of Walmart Fulfillment Services to increase GMV by 1573%* on items that did not previously have 2-day shipping!
Ready to be the next Miko? Start selling now and get up to 50% off on referral and fulfillment fees.**
Unlike other platforms, Walmart Marketplace offers:
- ZERO monthly or setup fees
- Unmatched transparency—clear, competitive fees with no hidden costs.
- The unique omnichannel advantage that lets you tap into millions of customers across their online and physical stores.
Sign up today and claim your exclusive savings!
*Source: Walmart first-party data, 2021-22
BITES OF THE WEEK
- Shein-ing Through: Temu easing off on its advertising pushed Shein to the top instead.
- Snapchat Updates: Snapchat's updates, which support longer videos and AI lenses, widen the room for creativity.
- Banned Alternative: Sellers looking for an Amazon alternative are frustrated with TikTok's potential ban.
- Google’s Latest: Google Maps and Search now include businesses' social media posts.
SOCIAL PULSE
Why you should advertise on Facebook over other social platforms
ICYDK, 4.74 billion people around the world use social media. No wonder brands try their best to expose themselves on these platforms.
And just as Amazon is the star in the ecommerce industry, Facebook dominates the social scene. In a recent article by Investopedia, Meta’s golden child overshadows other social media platforms in the U.S. and worldwide.
✨ Aside from its vast user base and advertising and analytical tools, here are the main advantages of Facebook and what it means for brands:
- Sophisticated advertising. Facebook offers granular targeting, which allows you to target users based on age, interests, behavior, location, etc.
- Detailed analytics. Through Facebook Insights, page owners receive comprehensive data on their audience's behavior, post engagement, reach, and paid campaign performance.
- Easy engagement. You can quickly build brand loyalty and an exclusive community with features like Groups, Events, and Pages.
- Wide variety of content. You can choose from a wide variety of content formats, including text posts, photos, videos, live videos, and stories. This way, you can cater to different audience preferences.
- Cross-platform marketing. Meta owns other known platforms like Instagram and WhatsApp. You can cross-post content across these platforms simultaneously, reaching users from across the meta-board.
- Ecommerce integration. You can sell directly on the platform with Facebook Marketplace.
The ultimate pro: Strategic partnerships
Did you know other platforms and apps can now connect with Facebook users by offering “Log in with Facebook Account” options? Even Amazon has partnered with Facebook to allow seamless in-app purchasing for meta users.
If you haven’t made Facebook a part of your marketing strategy, your brand could be missing out on a game-changing METAmorphosis. 🦋
SELLER REFRESHER
Increase your brand awareness with these 3 unique marketing ideas
Speaking of strategies, Shopify recently released a list of marketing tactics for those itching to break free from traditional practices. We’re talking about not-usually-seen tactics, which might be the key to standing out in the Amazon competition. 👌
Just like the concept of guerrilla warfare, this approach leverages the element of surprise. These are usually low-cost, unconventional campaigns (like flash mobs) that aim to generate loud talks and, ultimately, high profits. They’re also a foolproof way to bridge the gap between online and offline experiences.
Example: Coca-Cola’s Happiness Machine campaign
2. Viral marketing
This technique is used by brands to spread information about their product rapidly. It heavily relies on the sharing of interesting content, so you need to up your advertising game (especially visuals) if you plan to dive into this strategy. 🖼️
Example: Samsung is one of the big brands that uses YouTube to establish a stronger online presence.
3. Neuromarketing
True to its name, this tactic blends science with marketing to get the perfect reaction from customers. Those who use this method perform actual trials similar to A/B tests but on aspects like packaging, brand experience, etc. to see which will appeal more to buyers.
Example: Let’s not look far—Amazon is a prime example of neuromarketing practitioners. Its personalized user layouts leverage the singularity effect principle to surely catch people’s attention.
🎟️ Sticking to proven and tested marketing ways can ensure your survival on Amazon. But trying out-of-the-box ones will likely make your brand a box-office hit.
