The Biggest Amazon Coupon Site In The World

Amazon is making a small but potentially important change to product pages. In future, if products have a high percentage of returns, Amazon will flag them up as “frequently returned”.

Returns are a big issue. In 2021, online purchases worth over $750bn were returned, and many Amazon sellers end up throwing away about a third of all returned product.

Amazon isn’t going back on its generous (to customers) return policies. Its customers have the right to return goods within 30 days. However, products should ideally be unopened and unused, and must be in the original condition. You can’t eat one biscuit out of a packet, decide you don’t like them, and return the rest of the packet! (In fact, groceries are an exception to the return process, as are customized items like print-on-demand tee shirts.)

However, it has introduced a $1 per return charge for UPS returns, though customers can still drop returns off at Amazon locations like Kohl’s or Amazon Fresh. Amazon might also  send warnings to customers who have a high rate or value of returns, and in extreme circumstances might even close their accounts.

But that “frequently returned” tag could scare customers off your products. Of course it also means you’re losing money on all those returns, particularly if they aren’t returned in a state that makes it possible to resell them. Fortunately, Amazon is also going to give you a new tool in Seller Central to help reduce returns; Return Insights. This will give you plenty of metrics; returns by ASIN, by return category, by units, by percentage, and over time (eg last 30 days vs last 60 days, so you can see if things are getting worse or better).

Pick the products which have the worst returns record to look at first. Of course, if you have a product with the “frequently returned” label showing up, that’s your first priority.

Look at the reasons why these products are being returned. You might also want to look at competing product pages and see whether the product reviews mention returns, and whether there are details or types of photo on those pages that you don’t have on yours.

Then you want to refine and improve your product listing. For instance,

•      you might to add higher quality images giving a more complete view of the product;

•      you might want to add sizing information, and a guide to exactly where to take particular measurements;

•      you could add technical details;

•      you might add the composition of a fabric (100% cotton or 70% viscose?);

•      you might include details of compatibility with other products;

•      you could show pictures of the product with someone using or holding it, or in a hand, so that potential customers can easily grasp the size of the product;

•      you might add a how-to video so customers know how to unbox, install, and use their new products correctly.

It’s also worth paying real attention to color accuracy. In clothing and accessories, but also home decor, customers who find the color isn’t what they thought they were getting from the picture on the product page will often return it.

If your returns are due to products being damaged in transit, it’s worth trying to redesign your packaging to protect the product better.

Understanding your customers can be tricky, but it’s something you really need to do. A really nerdy example is a fountain pen returned by a collector because it had clearly been inked. In fact, the seller has a policy of testing every pen they sell by writing with it before they send it out. They now make that clear in their product description.

In this blog post, we’ll uncover the secrets to effectively managing your Amazon FBA inventory, ensuring you never run out of stock and lose sales or rank. Follow these expert tips to optimize your stock levels and keep your business thriving.

1. Reorder Size Calculation: The Perfect Balance

To determine the ideal reorder size, use this simple formula:

Average Sales Per Day x Lead Time to Re-Stock in Days

For example, if you sell 10 units a day on average over the past 30 days, and your supplier takes 60 days to produce and 30 days to ship the product, your reorder size would be:

10 units a day x 90 days restock time = 900 units.

This calculation is a good starting point, but let’s dive deeper into the nuances of inventory management.

2. Smart Ordering: Save Cost and Simplify Logistics

Instead of relying solely on the above formula, consider your business’s unique needs. Aim to have enough stock to cover the next three months, arriving just in time as the previous three months’ stock sells out.

By ordering larger quantities, you can save on product and shipping costs and simplify the process by reducing the number of orders per year. But, before placing an order, take the following factors into account.

3. Sales Velocity: Adjusting for Trends

Monitor your sales trends closely. Are your sales increasing or decreasing? If your sales have been growing rapidly, base your reorder size on the last 30-60 days’ sales average. For stable sales, use a longer timeframe like 90 days. Always adapt your reorder size to your product’s current performance.

4. Buffer Stock: Plan for the Unexpected

Unforeseen circumstances can cause delays in shipments, inventory processing, or supplier production. To account for such events, keep an extra 2-4 weeks’ worth of stock in Amazon’s warehouse. This safety net ensures you can continue to fulfill orders, even when things go awry.

5. Track Key Metrics: Stay Informed with Our Tools

Utilize tools like CashCowPro to regularly check your inventory levels. With its dashboard and inventory features, you can easily monitor your daily sales and stock depletion dates for each product. This information is invaluable for making informed decisions about reordering.

6. Seasonality: Adapting to Fluctuating Demand

Account for seasonal fluctuations in demand when reordering. Avoid basing reorder sizes on peak seasons, as excess stock can tie up cash and incur additional storage fees. Adjust your reorder size according to your product’s typical sales patterns throughout the year.

7. Holiday Delays: Factoring in Festivities

Stay informed about local public holidays as well as your supplier’s holidays, such as China’s Lunar New Year. Factories may close or operate slowly during these periods, so adjust your lead times accordingly when reordering.

8. Lead Times: Monitoring Supplier & Shipping Dynamics

During peak seasons, both supplier and shipping lead times can increase. Check with your supplier a month before reordering to verify whether lead times have changed, and be prepared to adjust your reorder schedule if needed.

Conclusion

CashCowPro is an invaluable tool for tracking product sales and inventory forecasting. To optimize your inventory management, maintain a buffer stock in Amazon’s warehouse and stay up-to-date on sales trends, supplier lead times, and seasonality. With these expert tips in mind, you’ll be well-equipped to maintain a consistent stock level and keep your Amazon FBA sales soaring.

Amazon’s search engine considers various factors when ranking products, such as sales velocity, historic sales, and conversion rates. If you’re new to Amazon, focusing on improving your conversion rate is crucial for success. In this blog post, we’ll explore several strategies to boost your conversion rate, which in turn will enhance your search ranking.

1. Leverage Social Proof

Social proof, such as recommendations or endorsements (preferably with photos), can significantly impact a buyer’s decision. Highlight your product’s previous success or improvements, and engage influencers to promote your product. Additionally, social proof on Amazon often comes in the form of reviews.

2. Acquire Reviews

For newcomers, getting reviews can be challenging. However, Amazon offers two programs to help: the Early Reviewer Program and the Vine Program. Enroll in these programs to obtain valuable reviews, and make use of the ‘Request a Review’ button in Amazon Seller Central. Including a review request with your product is also beneficial, but follow Amazon’s guidelines carefully.

3. Optimize Your Product Listing

Ensure your product listing is of high quality, with relevant keywords, convincing feature and benefit statements, and answers to common customer questions. Don’t overlook essential information like dimensions or color options, and emphasize safety for products intended for children or pets.

4. Use High-Quality Photos

Photos play a vital role in attracting customers. Utilize all available photo slots, include at least one lifestyle photo, and showcase relevant infographics for your product. High-quality images can significantly enhance your listing’s appeal.

5. Engage with Customers

Promptly and thoughtfully respond to customer inquiries, providing detailed and helpful information. Building a reliable knowledge resource and demonstrating genuine care for customers can strengthen trust in your brand, increasing the likelihood of a purchase.

6. Utilize A+ Content

A+ Content, also known as Enhanced Brand Content, allows you to showcase your brand story and product features using rich media elements like images, videos, and comparison charts. This enhanced content can make your product listing more engaging and informative, increasing the chances of conversions. Make sure to optimize your A+ Content for both desktop and mobile users for the best results.

7. Offer Competitive Pricing and Promotions

Customers often compare prices and promotions when shopping online. By offering competitive pricing and attractive promotions like discounts, free shipping, or bundle deals, you can entice potential buyers to choose your product over competitors. Monitor your competitors’ pricing strategies and adjust yours accordingly to stay ahead of the game.

8. Monitor and Optimize Your PPC Campaigns

Sponsored products and pay-per-click (PPC) advertising campaigns can help improve your product visibility and increase conversion rates. Regularly monitor and analyze your PPC campaigns to identify high-performing and low-performing keywords. Allocate your advertising budget effectively by focusing on the keywords that drive conversions and sales. Additionally, optimize your ad creatives and targeting options to reach the right audience and maximize return on ad spend (ROAS).

By implementing these strategies, you can improve your conversion rate and, in turn, boost your Amazon search ranking. Remember to always stay relevant and ensure your content aligns with the keywords that brought customers to your listing. By doing so, you’ll increase your chances of turning browsers into buyers.

Amazon’s mission is to be “the most customer-centric business on earth”. That’s been key to their success; they learn from their customers. You, too, could probably benefit from leaving products and sales on one side for a moment, and starting to think like your customers.

For instance, think about why your customer has headed to Amazon in the first place, instead of shopping ‘bricks and mortar’.

•      Do they want to get a better price? Or to get a multi-pack?

•      Are they shopping for a specialized product that the stores don’t stock?

•      Do they want to see the full range of what’s available?

•      Do they want to do without the hassle of bricks and mortar shopping, for instance if they need a new pair of jeans that’s the same as they had before?

•      Do they want a bundle of products rather than just one item?

For instance if someone’s getting started out in a new hobby, if they have a friendly local craft store they might go there. But otherwise they might go on Amazon to see if there’s a “Get started painting” or “Beginner decoupage” kit they can order. Or if someone has a new puppy, they can go to Pets R Us, but they can also order everything on Amazon, and it’s less hassle, plus they can see the customer reviews.

Once you’ve thought about why your customer went online, you can tweak your offering to suit. For instance, for specialized products, how can you help them make their purchasing decision? What kind of information will be important to your customers? What do they need to know to make sure they’re getting the right product? If you sell a widget, you might have a video showing “how to measure your XYZ so that you know you’re getting the right size widget”.

Think about why your customer is getting this product on Amazon. They’re not looking for your product or ASIN, most likely, they’re looking for an idea they have in their mind. They want to fix a problem, to suit a mood, to find a present for someone or to treat themselves.

So they may not look for “yourproductname” as a keyword. They’re looking for “help, my tap’s dripping” or “that shocking pink handbag my friend’s got” or “what can I get my Dad for his birthday that’s not predictable?” Some customers will look for dehumidifiers, others will search for “stop damp and mold”.

And once they’ve got your product, what are they going to do with it? Can you help them get more out of it? So for instance if you sell a special lens attachment for phone cameras, have a short video showing clearly how to attach it, and with some ideas for the kind of photos your customers might want to take with it. Or with a set of barbecue skewers, you could include some recipes, maybe with some vegetarian and vegan recipes and a couple of salsas to go with the barbecues.

Another way you should think like a customer is to think about the unboxing experience. What is the customer going to feel when they open up the package? How can you present things to help or delight them? How can you exceed expectations? How can you minimize returns? You might include a small thank you slip as part of the package, or instructions for how to put the product together. For an art or aromatherapy bundle, including a simple leaflet with some ideas for using the different products will not add much to your cost but can really improve your customer’s experience.

This may not help you sell, but it really will help improve your reviews. And in the long run, that will also benefit your bottom line!

Imagine you arrive in town with your friends, and you can’t agree where to stay. You want somewhere economical in a cheapo motel, one friend wants to paint the town red, and the other wants to go middle of the road and stay in the Doubletree.

Then you all end up in the same lobby!

In Jack Vance’s SF novel Big Planet that’s exactly what happens – and it’s set up that way so that the town’s inhabitants know who are the cheapskates and who are the big spenders. The product is the same, but it’s marketed differently.

So let’s think how that might apply to Amazon. For instance, you sell a dog harness. Is that a single product?

Nope. Rick the Backwoodsman is not going to buy a pink leash and diamante collar for Grunt, the German Shepherd. Ellie the Wall Street Woman probably gets sensible matte black for Wolfram the Weimaraner. But pink and diamante? Stephanie’s chihuahua Cutesy will love it.

So product varieties are the way to expand. It might just need a difference in marketing; the same product could sell to the hunting, shooting, hound owner that’s bought for a pet pooch, but you’ll need to sell its ability to cope with tough conditions in the field, rather than the comfort and good behavior of poochy-poos at the mall.

Or you might need to offer different colors, different sizes, or different levels of functionality. That’s how camera brands work; you can buy a cheapish compact, or an expensive mirrorless camera with swappable fish-eye and zoom lenses, or anything in between.

You can also offer different price levels. Some brands only play at one price level; Hermes and Louis Vuitton only sell expensive bags. Others offer several different levels. If you think of an auto maker, you’ll see how their products are graded by cost, from the small, cheap runabout to the expensive executive and sports cars.

The problem, of course, is that if a buyer pays more money but gets exactly the same thing, they are nor going to be happy. In this case you need to offer a slightly different package.

A good example here is Pelikan fountain pens. They have pens that run from school pens (Germans still use them at school) all the way up to several thousand dollar hand-painted pens. At each level, you get a nicer box, a bigger pen, a better filling system, and at a particular stage, a gold nib instead of steel. You can use any of them to write with, but few people will say the school pen and the high-end pen are “really exactly the same, so it’s not worth spending the money”.

Most people will, though, have an idea at the back of their minds how much they are prepared to spend on a pen.

Now imagine my idea is I was willing to spend $100. But suddenly, I see that there’s a sale on, and I can get a $200 pen for $100. Do you think I would be tempted?

Guess what? That’s how discounts work!

And you can have your product both discounted and not discounted at the same time. For instance, you can use a coupon offer just to your email newsletter or your Facebook followers, or just use it to people using Vipon. You don’t have to discount it on your regular Amazon listing, and people who go straight on to Amazon will never know.

Hopefully this blog post has provided you with some interesting food for thought. You may never see your products quite the same way again!

Writing Amazon product pages is a very specific sub-set of copywriting. You can’t do all the things you’d normally do if you were writing on your own site; the format is very tightly specified and there are certain things you need to include.

But you can still do a better job if you treat the page as a copywriting job rather than a product tick-list. That will lead to better sales, as your writing attracts your readers to the product and motivates them to become buyers.

All good copywriting starts by studying your audience. The kind of writing that will press all the right buttons for a 34 year old guy who’s an ultrarunner will do nothing for a 25 year old woman who wants to get “beach ready” – even if the product is exactly the same vitamin supplement. So make sure you know who your buyers are; look them up on Google Analytics, and see what else they are buying. See what they are reading, too; are you selling to someone who usually reads Cosmopolitan, the Wall Street Journal, Wired, or Hombre?

Read More…

Do you know how your competitors discount? It’s worth finding out, since it can give you a lot of good information in planning your own pricing.

Most obviously, you need to know what they’re doing right now. If you offer a great discount, but your competitor has a lower price than you, then your discount strategy isn’t likely to boost your sales.

But besides knowing how your price relates to your rivals’ prices, you also need to know how much their discounts stack up to, and how they express them. For instance, if your prices are the same, but your competitor normally has a higher price, a lot of customers will see “30% discount” from you and “45% discount” from them. Guess who they’ll go with?

But you’ll also benefit from a deeper appreciation of their discount strategy. Make it your business to record their discounts and track patterns in their promotions. What percentage of the time do they have discounts? Some companies sell at full price nearly all the time and only offer discounts occasionally, perhaps on Black Friday or in January. Others have discounts and promotional offers all the time.

Obviously, customers who see this will have different feelings about the two companies. They’ll expect a discount from the big-discount company and probably won’t be tempted to buy unless they get one. On the other hand with the full-price company, they may buy at full price or they may decide to wait several months for a discount if they think there will be one coming along.

Sometimes you’ll be able to anticipate competitors’ discount behavior. If your main competitor always has a 30% discount for Thanksgiving, say, then you can decide whether to match it, or to forgo the sales in order to keep your margins high.

You can also sometimes get a good feel for the way the market is going by looking at whether competitors retaliate when someone gives a big discount, or whether they hold their fire. If everyone starts discounting at the same time, that may mean the product niche is becoming much more competitive and less profitable. That could mean it’s time to lighten up on inventory and start looking for new products.

On the other hand if only a couple of rivals discount, but most others keep their pricing unchanged, you probably have a healthy sector. It’s worth taking a look at where those rivals’ products are placed in the rankings; if they’re low ranked, you can guess why they are offering big discounts to leapfrog their way up.

If you see leaders with products in the top ten rankings making big discounts, that’s bad news. It may mean sales have slackened for the whole sector, or even that they’re thinking about exiting it.

You’ll probably also find that each product category sets particular discount levels. For instance, most products may start with a 20% discount at launch. This doesn’t always happen but if it does, that’s probably a level that works. Only offering 10% might mean your product doesn’t get off the ground. On the other hand, offering significantly more could get your product noticed.