Optimizon has a team of experienced account managers, they’ve had the privilege of working with countless vendors, helping them navigate the exciting realm of deals and promotions.
In this blog post, we’ll share some of their valuable insights and strategies that will ensure your success in converting sales and driving traffic.
The Pillars of Success: Traffic, Selection, Conversion, and Availability
At Optimizon, we focus on four essential pillars to build a strong foundation for our vendors’ activities: Traffic, Selection, Conversion, and Availability. Deals and promotions play a crucial role in the Conversion pillar, but the principles from the other pillars remain relevant as well.
Strategy: Crafting a Comprehensive 12-Month Plan
An effective strategy is the backbone of any successful venture. As vendors, you should aim to develop a well-thought-out 12-month plan encompassing both tier 1 and tier 2 events. To maximize your impact, consider adopting an A/B split strategy. Divide your promotion ASINs into two lists: A and B. By avoiding repetitive promotions of the same list, you ensure customers always encounter fresh and enticing offers, enhancing their shopping experience.
Availability: The Key to Smooth Promotions
One common pitfall we observe is poor planning when it comes to selecting ASINs for promotions. Promoting products with low stock or no stock poses a significant risk to your account’s success. To mitigate this risk, familiarise yourself with Amazon’s “Deal tenets,” which outline the essential attributes for ASINs in promotions. Maintaining adequate stock levels is a critical deal tenet that ensures smooth promotions and avoids suppressions.
Suppressions can also be detrimental to your sales, as Amazon may remove both the promotion and your buy box which will result in your brand losing opportunities during peak traffic periods. It is also crucial that you are well-prepared and have a clear view of your stock in order to make the most of high-traffic periods.
Selection: Avoiding Deal Fatigue
Deal fatigue is a common challenge on Amazon, where customers become accustomed to seeing the same ASINs promoted repeatedly. To avoid this, make sure your selection strategy is diverse and dynamic. Continuously promoting the same ASINs can devalue your efforts, as customers might wait for promotions rather than purchasing at the standard retail price. Strive for competitiveness and variety in your selection to capture and retain customer interest.
Traffic: Boosting Your Deals and Promotions
Your efforts shouldn’t stop at Amazon alone. Vendors can leverage their marketing strategies to boost traffic to their Amazon deals and promotions. Simple actions like posting about your deals on social media platforms, such as Instagram, with a link to the deal page can significantly impact your conversion rate.
By strategically combining Amazon’s platform reach with your marketing efforts, you can tap into a broader audience and drive traffic to your promotions, ultimately converting more sales.
By understanding and implementing the strategies related to the pillars of Traffic, Selection, Conversion, and Availability, you can optimize your success on Amazon’s dynamic marketplace.
So, whether you’re a new vendor looking to take your first steps into the world of Amazon deals or an established seller seeking fresh insights, rest assured that we are here to support and guide you every step of the way. Together, let’s elevate your brand and grow your business with the boundless opportunities that Amazon has to offer!
To learn more about how the experts at Optimizon can apply the flywheel principles to your business, drop us a line at [email protected] and let’s start a conversation