Everyone knows the name.
Everybody knows they’re the marketplace powerhouse, and now a well established retailer with over 100 owned brands and a wide supplier network.
But do you really know how to make Amazon work for your business?
You upload your product catalogue. Display it to the world. And Amazon works its magic…right? Wrong!
On a very basic level, maybe...but it won't dramatically change your business if you do no more than this so…
The true success of your Amazon strategy for growth is only as good as your understanding of the platform.
Birth of a Marketplace Powerhouse
In the early days of Amazon, Jeff Bezos advertised a job description seeking developers to “help pioneer commerce on the Internet.”
Fast forward a couple of decades and its fair to say it was an accurate description.
Amazon is estimated to account for 40% of commerce sales in the United States alone.
Reached revenue for the twelve months ending June 30, 2023, of $538 Bn
And is one of only two companies currently averaging $1 billion in daily net sales revenue, the other is Apple.
It is the gateway to worldwide expansion for businesses across the globe and can catapult your potential for growth into a completely different league.
Only having a general grasp of its inner workings all but guarantees your strategy for growth will be leaving money on the table and potentially low profits.
Understanding how to utilise it effectively is essential.
Inner Workings
Your customer has added what they want to their cart. Paid for their purchase. And the item is quickly delivered.
Seamless.
But there’s a world of intricacy going on behind the scenes, we would refer to it as the Amazon Black Box!
1.9 million are actively selling on the marketplace.
An enormous fulfilment and logistics network is used to complete orders and meet the delivery expectations of more than 110 million Prime members.
More than 175 fulfilment centres across the world.
And approximately 500 warehouses near cities globally.
But are you putting this marketplace titan to work for your brand effectively?
Brand
Seeing your brand become a household name as your product conquers the marketplaces of the world is so often the vision. And brand recognition is without a doubt important.
But, focusing too heavily on it overlooks the fact that only 22% of Amazon searches even
include a brand name in the first place.
Developing content that is optimized for customer search behaviour is critical to getting your product noticed.
Amazon themselves say that nearly 50% of the purchasing decision is influenced by content and images, and only 20% by price.
Social Proof
One of the greatest benefits of Amazon shopping is being able to read customer reviews before you buy.
Research has found that over 90 percent of customers read reviews before making a purchase, and influences the purchasing decision more than price.
And nearly 80 percent of consumers say that they trust online reviews as much as a personal recommendation from friends or family.
Quality reviews help customers gain transparency and confidence when making purchase decisions.
Growth Beyond Expectation
But how does this surface level knowledge help you?
It serves to highlight the scale of what Amazon truly is and how much there is to understand before creating your plan.
But growth far beyond your expectations isn’t just a possibility for those new to the platform or beginning their Amazon journey.
so what to do now?
Growth Framework
To efficiently grow your brand there must be a clear vision of what you want to achieve and where you need to focus.
We put all our partner brands through comprehensive audit and forecast process.
Analyse both your brand and your competition on Amazon marketplace.
Then implement a proven growth framework to get your business where it wants to be.
Taking Action
Algorithms and growth levers. Conversion optimisation and range expansion. Launch and velocity.
These aren’t deliberately complicated jargon terms.
They are part of the growth framework you get when a full-service Amazon partner handles your strategy for growth.
To grow your brand and succeed on Amazon, you need a specialist agency who knows and understands it inside and out.
See where specialist market knowledge can take your business.
Contact Daley Hub today - theteam@daleyhub.com