How to do Amazon product selection?
Due to a large pool of sellers flocking to the Amazon platform, it is difficult to earn money with regular items. Product homogenization in Amazon is becoming more and more serious. And many sellers are scrambling for a limited profit with lower prices. In this case, the only way out for sellers to bend the curve is to differentiate their products when it comes to Amazon product selection.
In what respects does diversity reflect?
1. Price diversified
Before proceeding to a certain category, sellers are advised to make a complete division of internal prices, especially for the first three pages of product links for wide keywords. Sellers diversify prices according to the different selling points. Generally speaking, the most basic selling points correspond to the low price range, more selling points correspond to the medium price range, and strong selling points correspond to the high price range. When a new link is launched, sellers need to match the selling points of the product to the price one by one and ensure the price is within a reasonable range. You need to make sure that the product price is different from any other competitor’s prices, as the same price is likely to result in unconverted traffic or even no orders.
How much of a price gap is, which varies by category. In general, the price gap between low-value categories is small, while the price gap between high-value categories is large. For example, for high-value categories with a $200 average price, a seller cannot differ from a competitor's price by only $0.01 since such a subtle difference is invalid. But in a low-value category where the overall average price is $10, the price difference between the seller and the competitor can be $0.01.
2. Selling points diversified
Once the seller has made a certain price range, the seller must differentiate the selling points of the product. Whether it is adding more selling points than peer competitors or upgrading the selling points based on their products, it can increase the exposure, click-through rate, and conversion rate of the link.
Analyze buyers' needs, upgrade your product by competitors' QA and negative reviews, and your product may become the next hit.
3. Unique listing
Sellers can learn from competitors' selling points and layouts, but they should not copy competitors' copywriting. You have to design your own links according to the price and selling points of your products to form your own unique listing.
What factors affect pricing?
The importance of product selection for platform operations is self-evident. Furthermore, the product price also plays a role. Only if the pricing is reasonable enough, the traffic and sales can be better and the conversion rate can be improved. Before pricing, you need to know what factors will affect product pricing.
1. Product cost
This includes the materials, labor, RD, production, and shipping costs. In the case of high costs, the pricing will naturally increase.
2. Market demand
When a thing is scarce, it is precious. Market demand has a significant impact on product pricing. When a new product is launched and the supply is less than the demand, the price will rise, which is hunger marketing. In the later stage, when the supply exceeds the demand, the price will be reduced appropriately.
3. The pricing of competitor
When the market competition is relatively light, we can increase the price, and when the market competition is fierce, we can also lower the price. If a product has the same price, people will prefer to choose products with slightly better quality, longer shelf life, and better market response. However, fresh sellers have little reputation and can only start with low prices. Low price is a good choice as a sales strategy, but it is not suitable for long-term promotion.
When it comes to scraping competitors’ prices, you can make use of residential IPs of YiluProxy to send thousands of requests with different IPs so as to avoid detection and bans by the website.
4. Different product stages
During the testing stage when the new product launches, the pricing is usually not too high. And you can even attract customers using the lower price. During the product growth phase, the product will receive reviews from all aspects of the market. With the steady growth of sales, you can raise the price in a small way. In the product maturity stage when all aspects are relatively stable, the minimal price fluctuation won’t influence product sales too much. In the final recession stage, if there is still a lot of product inventory that can be massively reduced in price, you can take measures to clear the stock with small profits but high sales.
How to fully understand customers from reviews?
1. Negative Amazon reviews are very valuable information that we use to study consumer pain points. Subsequent product improvements are based on these bad reviews. Most of these bad reviews come from quality (mainly product description and pictures), color difference, packaging, introduction, function, installation, and complimentary items.
Similarly, if you have trouble manually scraping product reviews since it is a burdensome task, you can connect Yilu Proxy to automate intended operations.
2. Browse reviews of competing products to understand what consumers are not satisfied with and what needs to be improved, so that you can provide targeted differentiation. Only by differentiation can your product stand out among the mass products. For example, spend time and effort on listing quality, outer packaging, and even unique service or experience.
3. The appearance and keywords of the product, the originality, and the clarity of the product picture are the key points. The outer packaging of the product also needs to be paid attention to. Generally, customers prefer products with exquisite packaging. And the packaging should include a detailed introduction, and the color should not be too fancy.
4. It would be better to configure an insert card to provide customers with a channel to inquire and solve problems, making customers more willing to negotiate and resolve rather than refund or complain.