End of the week or end of the weak? We vote for the latter because today is all about the best ways to become better AND stronger sellers this year. Specifically:
- How to win the Buy Box (Feature Offer) this year šļø
- How to rank #1 on Amazon with UGC ads š
- How to win price wars over sales events š¤ŗ
- How to maintain high sales during the off-season šµ
Read on to know the answers!
BIG IDEA
Did you hear? Amazon is updating its Featured Offer criteria this May 2024!
ChannelX reported that a message to Amazon UK sellers confirmed the changes. The tweaks are brought about by Amazonās agreement with the Competition and Markets Authority (CMA).
š¦ The scoop
As per the CMA agreement, Amazon must ensure third-party (3P) sellers compete on a level playing field. Also, UK customers must get access to the best deals. To address these, Amazon has committed to the following:
- No unfair data advantage. Amazon won't exploit rival sellers' Marketplace data to gain an unfair advantage.
- Buy Box equality. All product offersāwhether from 3P sellers or Amazon itselfāget equal chances of āwinning the Buy Box.ā Plus, eligibility for Prime and Prime Badge will NOT be a criterion when determining the Featured Offer.
- Negotiation power. 3P businesses can haggle delivery rates directly with independent Prime logistics providers.
- Independent oversight. An independent trustee will monitor Amazonās compliance. The CMA ensures the appointed person has the right qualifications and expertise for the job.
This is great news for sellers who havenāt enrolled in FBA or Seller Fulfilled Prime (SFP). However, Amazon stresses that free and fast delivery will remain core factors in winning the Buy Box. š
TOGETHER WITH INSENSE
Rank #1 on Amazon with UGC ads
User-generated content (UGC) for TikTok, Meta, and Amazon Ads drives higher conversions because of its jampacked social proof. But how exactly do you source high-quality UGC at scale?
āØ Enter Insense. āØ
Insense is the leading platform for UGC and influencer marketingātrusted by 1,500+ brands, including Thrasio, Rankster, and Upper Echelon Products.
āWe tested 20+ platforms before Insense, we love how we can manage all our campaigns and get content in only 2 weeksā - Paul Harvey, Rankster
Insense stands out because:
- Creators apply to you: responsive UGC creators apply directly to your campaigns in minutes!
- Delivered in 10 days: receive high-performing UGC for organic + paid social.
- Simplified admin work: automated influencer agreements, payments, and digital content usage rights.
- Money-back guarantee: you know, if an influencer ghosts š»
- Repeat + long-term collabs: build relationships with influencers and UGC creators.
Try it now!
Book a free personalized strategy call and get $200 for your first campaign until February 23!
BITES OF THE WEEK
- Keys to Loyalty: DYK being genuine and authentic are simple but surefire ways to build a following?
- Born to Run: Here are some must-knows about Amazon's Born to Run program.
- Vendor Insights: Apparently, the keys to thriving on Amazon are flexibility and adaptability.
HOT TOPIC
How sales events can lead to price wars (and how to win them)
Hosting a sales event doesnāt always lead to higher profits. As outlined by Dave Lacroix, founder of OA Deals, this could drive prices even lower!
āļø And if more sellers jump in on the listing, a price war could start. To explain how this can happen, Lacroix used the retailer Ulta and its 21 Days of Beauty sales event as an example. He used Keepa to track the price of the item.
- Benefit Cosmeticās BadGal Bang mascara was 50% off on September 15, 2023.
- After September 15, the number of sellers spiked, indicating that many online arbitrage (OA) sellers bought from the sale.
- Due to the increase in competing sellers, the buy box averages fell from $23.49 three months earlier to $21.40!
How do you avoid being at the losing end of price wars?
According to Lacroix, many OA sellers forget to account for two things: the popularity of the website (or brand) and the popularity of the sale. To prevent being caught off-guard in price wars, you must be proactive in sourcing your products and not just jump on every sales event.
You can also try these tips:
- Reverse search with Google.
- Join a leads list for new sources of inventory.
- Use OA software with a database of sites and/or search uncommon sites.
Have you ever been in a price war over a sales event? Feel free to share your tale by replying to this email! š©
ACTIONABLE ADVICE
4 expert selling tips for the off-season
The past holiday season indeed gave businesses a major sales boost. Predictions were exceeded, and sales shot through the roof. š
But of course, the ecommerce momentum must be sustained throughout the year. Fortunately, members of the Forbes Business Council have some tips on how you can keep your sales flowing during the off-season:
- Be trendy. Embrace whatever trend pops up, and be creative in inserting your products into relevant news and viral challenges. Just be sure to pick only the trends that resonate with your brand reputation to avoid looking like a tryhard.
- Host exciting events. Being trendy isnāt enough. You need to keep the excitement going through product launches and events. Try offering limited-time promos and bundles to boost engagement.
- Leverage technology. Make the most of the high-tech tools at your disposal. For instance, optimize your web pages and use targeted ads.
- Implement a solution-based marketing strategyto keep you in demand all year round. Focus on what your customers need and show how your brand is the answer to their problems.
š” But more than anything else, you need to strategize for the long term. You can start a loyalty program, use exclusive content, or maybe give special attention to returning customersāgimmicks that can secure your ecommerce longevity.
So, what are your plans for the off-season?
