New month, new Academy! As you can see, at Lifting Group we take training very seriously and we are committed to providing our teams with the best possible training and our customers with quality service.
We love as a company to promote cohesion and continuous learning of all those who are part of Lifting Group, which will later be reflected in customer service.
For this new Academy, we decided to focus on how to create a product on Amazon and what strategies and actions to use depending on the stage of the product. The reason why we decided to do this Academy was because most of our teams manage, design and implement internalization strategies for customers on a daily basis.
A few months ago we did a capsule on our blog about Amazon and how to manage the Marketplace. We segmented it into 3 blocks since the topic was so interesting, you can check it out here.
As we know Amazon Marketplace allows companies and individuals to sell their own products on Amazon’s website. Can it be profitable for your business to create a store on Amazon? It depends on several variants since the competition is high but it will be enough to do it well and in due time. What do we mean?
Well, understand the inner workings of the platform, how to create an account from 0, set the right prices and make a correct marketing.
It is not enough to upload the products and that’s it, but there is a background work to be taken into account if what you really want is to get good results.
And you are probably asking yourself, but why sell on Amazon? What does it mean?
- Assured traffic, i.e., selling where the buyer wants to buy.
- International expansion, since it offers you the opportunity to sell in different markets.
- You do not lose the resources to create your own store.
- Possibility of using the logistic system offered by the platform itself.
- Possibility to advertise on site, which will increase the chances of being seen.
It is clear that not everything is a bed of roses and that everything has its drawbacks. Why?
- Like everything in this world… nothing is free, so the cost will always depend on the type of account you want to have.
- The competition is high and the products are displayed in the same showcase at the click of a button.
- The seller will never be able to access the customer’s data, so Bye Bye Big Data!
- And if you fail or do something that is not allowed by Amazon, the consequences are paid and much … so be careful with the rules set by the platform.
It is essential to know that in Amazon there are two types of account, Amazon Seller and Amazon Vendor. As many of us know Amazon Seller is one of the most common accounts among companies that sell through Amazon and there are two possibilities to manage a product, via FBM or via FBA.
The FBM (Fulfillment by Merchant) selling model is one where the seller takes full responsibility for storing the products and shipping them to the respective customers, in most cases, outsourcing to a shipping company.
The FBA (Fulfillment by Amazon) sales model is where sellers send stock to an Amazon warehouse and let the platform itself take care of inventory, shipping and customer service.
What variables can we take into account in order to achieve the expected success?
- Visibility (organic and paid)
- Price and RRP (recommended retail price)
- Business (Lightnings Deals, 7 Day Deal, Top Deals)
- Ranking (category and subcategory)
So far the information about the Academy, but don’t worry… we will continue with the topic because the variants of this platform are infinite and becoming an expert implies time, effort, dedication and a lot of knowledge.
Do you have any doubts about any of the topics mentioned above, do you have a product that you want to sell but you don’t know if it can really be effective? Having the best professionals in the sector will help you to succeed in this fantastic Marketplace. So, do not hesitate to contact us and we will be happy to help you and see what is the best strategy to follow.