Amazon’s reign as the king of ecommerce won’t end any time soon.
There were over 15 billion worldwide visits to Amazon.com in 2023.
The continued flood of purchase-ready visitors makes Amazon lucrative for sellers who can stand out and generate sales from the platform.
This year, Amazon’s core belief behind its algorithm remains straightforward. They want customers to continue buying. They are just as interested in making sales, if not more so, than the sellers themselves.
Here are six marketing strategies to help you grow your sales on Amazon in 2024.
1. Cover the basics
Tips and tricks still don’t replace solid marketing fundamentals. In general, you should think about strategy, not simply tactics.
- How are you positioning your brand/product?
- Are your prices competitive?
- Is your product differentiated?
- Do the photos and copy represent that?
You can’t start optimizing your marketing until you have covered the basics.
2. Continuously analyze your keywords and focus on relevancy
Amazon’s algorithm may be focused on customers buying products, which is similar to saying Google’s algorithm is focused on providing the best answers. While it may be true, many variables and nuances go into rankings.
- On-page elements.
- Customer reviews and ratings.
- Images and multimedia.
Targeting the right keywords has always been critical. However, this has increased with Amazon’s focus on using AI and machine learning for product recommendations, search relevancy, and customer behavior analysis.
If you haven’t done keyword research on your product detail pages recently, it’s time to do so. Shopping trends evolve, and fresher data is available. Regularly researching keywords is crucial. Ensure they’re integrated into key areas like the title, description, and bullet points.
This doesn’t mean stuffing keywords in your copy. You still have to write for shoppers in a way that drives conversions. In 2024, this has become even easier with generative AI. Amazon even has its own AI tool to help with product listings.
Remember, shoppers are the ones reading and making decisions to purchase. No matter how the copy is created, it must help convince them your product is the right choice.
3. Go all in on Amazon Advertising
Amazon’s ad revenue was more than $49.9 billion in 2023. It’s hard to imagine it was only $10 billion in 2018.
Ad campaigns continue to be a must for success on Amazon.
Sales on Amazon are rewarded, meaning you can use advertising to get those sales, unlike Google Ads. This means by increasing your ad spend, you can stimulate sales velocity and improve your rankings.
Amazon continues to invest in its advertising offerings, which include expanded targeting options with:
- Sponsored display audiences.
- Sponsored display product targeting.
- Ssponsored brands video targeting.
They are also offering new ad formats, including:
- Sponsored display video ads.
- Sponsored brands video-only creatives.
- Amazon DSP marketplace targeting.
Amazon has even introduced a new AI-powered image generation tool to help you produce improved creative.
With new features and capabilities comes the ability to gain more granular insights into campaign performance allowing for better resource allocation of your advertising spend.
To differentiate your campaigns, you should explore and invest in emerging ad types, such as interactive and augmented reality ads.
Stay informed about updates to Amazon’s advertising platform to optimize your advertising cost of sales (ACoS) and leverage these insights for better ad performance.
Dig deeper: 5 reasons Amazon Ads is better than Google Ads for ecommerce
Get the daily newsletter search marketers rely on.
4. Utilize off-Amazon traffic strategies
Amazon’s brilliance has always been how they gain traffic from other websites. That’s why they are and have been one of the largest customers of Google Ads.
Taking an omnichannel approach by utilizing social media, influencer marketing, and content marketing will build brand awareness and direct users to your Amazon listings.
Implementing target campaigns, offering exclusive promotions, and sharing engaging content related to your products helps diversify your traffic sources.
You can also take advantage of Amazon’s Brand Referral Bonus program that incentivizes sellers to drive external traffic by offering them a percentage of sales as a bonus.
By strategically directing traffic from other sources, sellers can enhance their product’s discoverability and competitiveness on Amazon, standing out in a crowded marketplace.
Dig deeper: 3 tips for using promotions and discounts in paid search
Everyone loves a discount and a good deal. You can play off both psychological triggers by running a coupon for sponsored product ads.
Running a coupon with advertising on Amazon is a powerful tactic to enhance product visibility, attract more clicks, and significantly boost conversion rates.
Coupons serve as a direct incentive for potential buyers, offering them a tangible saving on their purchase, which can effectively differentiate your product from competitors.
When these discounts are highlighted in sponsored product ads, they grab attention within search results, making your listing more appealing.
This strategy leverages the psychological appeal of getting a deal, encouraging shoppers to make a purchase decision more quickly.
Additionally, advertising your product ensures that it appears in front of a targeted audience actively searching for items in your category, increasing the likelihood of clicks and conversions.
Using coupons and advertising boosts immediate sales and enhances your product’s Amazon ranking by increasing sales velocity. Implementing this approach entails pricing and profit margin analysis to ensure sustainable discount and advertising costs.
Despite this, the potential visibility, sales, and customer acquisition benefits make running coupons with advertising a worthwhile investment for Amazon sellers aiming to expand.
6. Invest in high-quality product videos
Videos have become an indispensable element of effective Amazon listings, providing a dynamic way to showcase your products and differentiate your brand.
In 2024, leveraging high-quality, informative videos that address customer pain points, demonstrate product use, and highlight unique features is key.
Consider incorporating user-generated content, testimonials, and behind-the-scenes footage to build trust and authenticity. Amazon’s platform now offers enhanced video capabilities, making integrating this content into your product listings easier.
Optimizing for better visibility and sales on Amazon
Amazon continues to be the de facto product search engine. Their improvements in technology and advertising for brands continue to pave the way for online sellers while setting expectations for consumers.
Even though it may feel like it, it isn’t you vs. Amazon. It is you vs. the other products someone would buy instead of yours on Amazon. Remember, Amazon wants happy customers and more sales – just like you.
By focusing on these tactics, you can improve your visibility, conversion rates, and, ultimately, your sales on Amazon.
Original source: https://searchengineland.com/amazon-marketing-strategies-385714