No one escape from the impact of Coronavirus in our daily livelihood. It also hit the bad impact a lot not only one or two sector but whole world economy. Amazon is also the part of this economic downturn and most of the Amazon Sellers has now to stop selling their products.
So, today we’re discussing about the 5 tips that every amazon seller has to implement in their Amazon Sales Promotion Strategy in order to capture new opportunities on the platform.
As amazon’s advertising platform operates on predictability. But massive shifts in supply and demand brought about by the coronavirus pandemic have caused unprecedented volatility in the advertising landscape. CPC rates are spiking for emergency supplies and consumables, both of which are being squeezed by various supply challenges, while many “non-essential” brands are bowing out of advertising all-together due to shipment suspensions and delays.
There is no full-proof strategy for addressing this volatility. However, that doesn’t mean that brands are helpless. Advertisers should be taking a close look at how they can adjust their strategies to promote congruence with their supply situation, maximize their profits, and grab new opportunities.
#1 – Be genuine about your supply situation:
It doesn’t make sense to pay to run out of stock quicker, especially considering the compounded drawback of losing relevance. Calculate run-rates for each of your products to better understand what your supply can withstand. If you sell products in a “non-essential” category, consider diverting budget to promote products that are supported by programs like Amazon Dropship or Fulfilled-by-Merchant. If you can match demand with increased spend, do so. However, avoid simply increasing ad spend and taking your hands off of the wheel. You would be wrong to think: “everything is the same but up 20%.” This is a time of extreme volatility marked by massive shifts in buying behavior that can require an advertiser to make adjustments on the fly. Keep a close eye on supply, demand, and the activity of your competitors.
#2 – Evaluate what types of products create new demand for:
1 in 5 Americans have been ordered to stay home. While many are still in the panic stage and are stocking up on disinfectants and consumables, others are looking for ways to work from home, play from home, and overall make themselves feel more comfortable while isolated. So if any products in your catalog have an at-home use case, think about diverting some of your advertising budget to those products. As the panic buying stage wears off, advertisers who anticipated demand for their products can jump out early in their category.
#3 – Take advantage of Amazon Display Advertising to gain the product’s traffic
Social distancing and panic buying has increased traffic on Amazon significantly over the last few weeks. Advertisers can capitalize on this massive audience by utilizing Amazon DSP retargeting. By collecting customers on a brand and ASIN level, including those who searched for your brand, viewed products, or made a purchase, advertisers can build and scale valuable audiences that can be utilized when shopper behavior normalizes. With access to double the audience, brands can maximize new product launches and marketing initiatives down the road.
#4 – Examine your technology tools, and be willing to make manual adjustments:
External and internal tech, from Amazon’s A9 algorithm to a seller’s internal advertising tool, are based around a predictive set of variables. Machine learning is designed to be effective under normal conditions; there’s no telling how volatility will make an impact. If you were driving through a blizzard in a self-driving car, you’d be smart to put both hands on the wheel.
#5 – Build your advertising strategy with off-Amazon marketing:
If you are running flash sales on your website to drive demand for your products off of Amazon, consider keeping Amazon advertising campaigns on to capitalize on the increased brand awareness and traffic that may end up back on Amazon.
Above are 5 tips that an Amazon Seller can opt to implement their Amazon Strategy. But there are lot of things that you can do in order to catch more opportunities. Let us know what issues are you facing in your Amazon Sales at – what your objective? We would like to give you the proper guidance and a Free Amazon Account Audit.