We’re all greedy people. No matter what we have, we want more.
I can hear Gordon Gecko tell Bud Fox that “Greed is Good” in the movie Wall Street.
You wanted to lose 5 pounds, you lost 8. You say I still have 2 more to go.
When you were a kid you told yourself that if you just had x amount of money you would be well off. You probably have more than that number now, but you still don’t feel financially secure.
The car you drive is probably 10 times nicer than your first car but you still want the back up camera, the keyless starter, the on board computer and navigation screen.
The list goes on and on. So why should we be happy with our Amazon sales?
I’ve never met an Amazon seller who didn’t want to sell more. Whether they were selling 1-2 units a day or 1-200.
Set let me be Captain Obvious for a moment for a few suggestions and then we’ll talk about more advanced stuff.
Check your Conversion Rate
The typical conversion rate in ecommerce is 1%. Sounds low doesn’t it? It is. The typical conversion rate on Amazon is 13.5%
But its not uncommon for successful sellers to have a 20% or above conversion rate.
The first thing you need to do is check your conversion rate. To do this go to your seller central dashboard and click on the sales and traffic link in the upper left corner. When the report pops up look for session percentage.
Amazon considers a session to be 24 hours. The amount of sales divided by the numbers of sessions is your session or conversion rate.
Whatever your number, this is your baseline. We’ll work on improving this number
So we will increase our sales by increasing our conversions…says Captain Obvious.
The more reviews the better. Think crowded restaurant vs non crowded restaurant next door. Which one are you going in?
Reviews are the social equivalent. Do what you can to get as many reviews as you can.
This means giving away samples for reviews. This means following up with friends and family.
This means using a service like Feedback Genius to contact you customers and ask for reviews.
Review your photographs. Are they really fantastic? Really? Or are they the same just passable pictures you took with your iphone?
You’re more established now. Upgrade to professional photography.
Take a look at random number 1 sellers. 99 out of 100 will have excellent, professional photography. Coincidence? No
Does your copy really show benefits or just features? To paraphrase Mr Jefferson, this should be self evident.
How long has it been since you have reviewed your keywords? Has the search volume changed? Had a new keyword emerged? Adjust as necessary
All of these things will affect your conversion rate and ultimately your sales.
You da mannnn, Captain O!!!
OK, OK, we have to walk before we run and if you don’t do these things first, you’re just wasting your money on any future promotion or marketing.
The Marketing Arsenal
Amazon PPC Not going to go into a lot of detail here, but use amazon ppc. I and many of my students are getting more than a 200% ROI on their ads. That’s more than $2 back for every dollar invested.
Currently 28% of my total sales come from my amazon ppc.
I have written more extensively on this subject in other articles so check in the category section to the right of the page for more information.
It can increase your reviews if you run a review promotion.
It can increase your email list so you can then follow up email and offer additional coupons or discounts on your products for future sales.
Here are the results I ran for a recent FB ad test
This was a price reduction for 99 cents in exchange for a review promotion. I sent the buy link to a keyword I was trying to increase my ranking for.
37 clicks → 29 optins → 18 sales and I went from the bottom of the second page to just short of page 1 for the keyword I was trying to improve upon.
I still have reviews coming in, but got 4 reviews. I will probably end up with 6 or 7 total.
Obviously a quick overview of facebook marketing. But I just wanted to expose you to the concept and the possibilities.
BTW, my conversion rate increased from 21% to 26% and my rankings went up across the board and yes, my sales, too.
I will cover this topic in much more detail in the near future.
Do these things and then go back and check your conversion rate. I’ll bet it will have increased significantly.
So there you have it. Six basic and not too sexy thing to take your sales to the next level.
After you do these things go to your window and shout “GREED IS GOODDDDD!” You’ve earned it.
What are some other simple ways we can boost sales? Type them in the comment section below.
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Already an Amazon Seller? Interested in a little help, maybe validation of your product and market or need some marketing direction? Then take a look at my 1 on 1 coaching. I accept a limited number of people into my coaching program. Click here to learn more
Mark Scott Adams is a serial entrepreneur who has started, built and sold six businesses. He has sold millions of dollars of physical products on and offline over the last two decades. He is currently a speaker, author and successful Amazon Seller. To take his free amazon sellers training click here. To Get his free product checklist list click here