No matter what your level of experience selling on Amazon is, you need to get ready to learn from this episode. Barbra Bannon has launched, ran, and sold multiple companies as an Amazon seller. Barbra is giving out critical advice to Amazon sellers of all sizes about what model to follow when creating your brand, how to increase your external traffic, and which KPIs to focus on.
- The proven model for building a successful brand is as follows: 1. Identify a problem facing consumers; 2. Support it with statistics and sources; 3. State the solution; 4. Tie the solution into your product.
- Having the first-mover advantage does come with some benefits, however, the costs and uncertainty should not be discounted when considering making a strategic business decision. There may be a reason why no one else is in that space so do your homework!
- By trademarking your brand with the US PTO, you will unlock access to “A plus content” from the Brand Registry. A-plus content includes assets like branded advertising, product videos, and crucially, brand protection.
- Google will index your A-plus content pages which can increase your external traffic from Google searches.
- As a seller, you’re not going to make your money by making cheap, low average order value products. You need to find ways to increase your average order value such as bundling or selling bulk.
- Apply for awards on Amazon for your products. You have to submit the application for it as Amazon will not seek out products for the awards. Winning these kinds of awards provides extra social proof of your brand’s quality to prospective buyers.
- When reviewing the data from your listings, pay close attention to the conversion rate and see which search terms have the highest conversion. Compare your conversions to the benchmarks of your category.
Quote of the Show:
- “People don't typically look at their CR, which is the conversion rate column. That's where the gold is” - Barbra Bannon
- Boosted Commerce
- The Lean Startup by Eric Ries (book)
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