Just about everyone who gets started on Amazon does so because they want to succeed, but what that formula is can seem like a secret — until now, with RepricerExpress telling exactly how to get there with FBA.
1. Never Be Afraid to Tweak or Test
A solid, immutable foundation is a good thing because it means there’s something steady to hang onto. And when times get tough, you need a heavy anchor in place to weather you through the storms.
But if that anchor is too strong, then it also means you can never leave your current spot for calmer waters. The aim is to be strong, yet flexible, and the best FBA sellers achieve this through regular tweaking and testing.
The idea is to have a solid core in place that defines what you’re about, but one that also allows for minor changes to adapt with the times. And one of our favourite ways of doing that is through A/B Testing, the process where you test out one feature at a time to pinpoint exactly what it takes to gain more success.
Say you’re using A/B Testing with figuring out the best prices for your products. One way you’d do this is by isolating one category at a time, and then testing to see what works best. You can try gauging your min prices to be a penny or so above your competitor’s lowest — this avoids a race to the bottom — or to even set them a tad higher than the rest. Give them all a try, but go for it one at a time.
2. Be Faster Than the Flash
Amazon Prime is a wonderful, wonderful thing. But it’s also a costly one, and not every Amazon buyer wants to fork over money just to get faster ship times. So, what can you do to meet them in the middle?
Using FBA, which you are (bravo!), is one way, allowing Amazon to do the grunt work for you while you focus on the finer aspects of becoming a better merchant. Another is to post up super fast shipping times, ships that are heaps faster than your competitors.
After all, do you really want to be selling guitar wall mounts that take 22 business days to send with no shipping, when your buyer will likely just head to their corner shop and pay a little more so they can have it in their hands pronto Toronto?
It may not be the money-saving tip you wanted to hear, but trust us — fast shipping times is one of the best ways to get more customers on your side (and more customers means more profit!)
3. Don’t Be Afraid to Shake Things Up
Back in ye olden days of shopping, a great retail model meant having stable inventory, the kind of selection shoppers could more or less depend on throughout the seasons. They wanted consistency and predictability, and by golly, they got it.
Yeah, that’s all changed now. Today, buyers want something new all the time, they want their desires to manifest — quickly — into goods, and they want the hottest fads when they’re still fads, not ironic retro pieces.
Admittedly, this puts a lot of pressure on you, our cherished FBA merchant, but it’s just one of the balls you have to roll with today. After all, if you don’t, then there are dozens of your competitors who are willing to give consumers what they want.
And closely tied to this is switching up what you carry in your inventory. Even though what you sell may not be dependent on fads and fashions, it’s still a good idea to switch things up so your selection is fresh and never stale.
What came first: becoming an awesome FBA seller, or repricing your way to success? The answer is ‘neither’ — it all has to happen in conjunction. But to get that started, you’ve got to sign up today for your 15-day free trial to make the magic work.