Each business opportunity has standard set rules and tools to enable an entrepreneur to succeed in that field of business. Are you a first-time entrepreneur or an existing one that wants to explore new business opportunities? Whatever the case, in this article we are going to look into tools you need in order to prosper as a private label business entrepreneur in the Amazon market.
Immediately you finish mobilizing your business resources, follow the right channels to register and start your private label business. Now that you have the seller account, apply all the legal tricks in the book to attract the attention of your prospective customers. To start with you will need to carry out a thorough market research to find out what your competitors are doing best to satisfy their customer needs and demands.
When selling your products on Amazon you can either handle the product preparation and selling procedures alone or use Amazon’s FBA to handle all the marketing procedures. Being involved in the marketing process will mean that you will pick the products from the manufacturer, do the product packaging and ship out the products to customers. On top of that, you will be required to offer other after-sales services to customers where necessary.
Choosing to use the Fulfilment by Amazon (FBA) simply means to let the FBA department to do all the above-listed services for your business on your behalf.
Using the FBA channel will be a good move especially if you have other daily commitments when you do not have your own warehouse and means of transporting the products or you don’t want to be directly involved in these processes altogether. Other benefits of using FBA includes:
- Quick shipping of your products to customers.
- Your products increases chances of featuring in Buy Box Share
- Your products will get a high reputation by using the Amazon branding. Customers will prefer them more to other privately branded products
- By using the Amazon branding, you will boost your sales greatly.
However, it is important to note that the FBA department will not carry out these services for you free of charge. You will have to pay a certain amount of fee after sales. You can find more details on how Amazon charges various products when they are prepared using its services here.
To smoothly run your private label business on Amazon, there are a number of tools you should have. These tools are meant to make your work easier and give your products a uniqueness that doesn’t exist in other products on Amazon market.
Here are some important tools you must have for FBA private label business.
1. Price Check app.
Amazon has come up with an application that allows both sellers and buyers to check and compare prices of goods sold in its online stores with other local retailers. This app is meant to simplify things further for both the seller and the buyer. As an Amazon seller, you can now take advantage of the app and do a detailed analysis of prices of your competitors’ products before you can price yours. Remember, you will do all this analysis from the comfort of your store or your home. By knowing how your competitors have priced their products, you will know how to adjust your products’ prices accordingly to lure many customers to your stores.
2. Listing Tools
Working round the clock to ensure your private label products feature on the A list of the Amazon product listings should be your priority as a smart Amazon seller. To achieve this goal, consider using strategies like keywords. Keywords are vital for online marketing. Research popular keywords most customers use to search for products on Amazon and include them in your product descriptions and titles. If you don’t know how to frame keywords, try to use tools such as Google’s Keyword Tool. This software will assist you to get the best keyword to use for your products. The keywords should be dynamic to adapt to customers’ changing tastes and preferences. Right usage of keywords will help to optimise your product listing on Amazon platform.
3. Feedback Express
As a determined and focused private label business entrepreneur on Amazon, you must actively involve your customers for your business to thrive in the Amazon market. Communication is the best method to use. One way to establish a direct communication with your customers is by using tools like Feedback Express where customers can leave their reactions concerning the product. Messages are triggered immediately a customer places an order and the transaction is effected or much later. If you want to increase and retain your customers, make sure you take an affirmative action to improve in areas where customers have raised concerns about your products. Customer feedback is essential to know the performance of your product on the Amazon market. Ensure you take action on negative feedbacks.
You need a stable and consistent pricing strategy so that you can win the trust of your customers. With the latest technology in place, software like Reprice Express will help solve your pricing problems. The software is easy to install and integrate into your business system. The software will give you room to set minimum and maximum prices for your product. This is a strategy to ensure that your products neither sells at very low nor very high prices. This pricing advantage gives you an upper hand over your competitors on the Amazon market. According to statistics, this software has the ability to increase your business sales by over 160% within a very short period of time. Get the software and customise it through the basic and advanced settings to suite your business needs and start enjoying its benefits right away!
To lure traffic to your products, you have to carry out an extensive advertisement. Have your own business website that you can use to advertise and provide links to your Amazon products. Before you start your advertisements, ensure your products are branded well so that they can easily be identified online. The adverts should contain genuine information about your products. Use platforms such as Google Adwords, twitter, Facebook and emails to advertise and get all information you need to know about your products. In your advertisements be specific about your target audience.
Sarah Kaiser is a digital marketing manager at casino global sourcing, the sourcing division of a French retailer Groupe Casino. She’s in charge of godirek.com, the digital product catalog of casino global sourcing, which offers helps and handles enquiries about private label manufacturers and sourcing. She’s a fan of water sports and has studied business management in France. Her works have been published on dozens of websites and blogs.