Tips for Launching a Product on Amazon
Before you decide to launch a product on Amazon there are some things you need to know. Take a look at our four Amazon product launch tips.
We’ve all seen the ads telling people how easy it is to get rich selling on Amazon. Just spend a bunch of money on a product, send it into FBA and BAM… millionaire! Unfortunately, that’s not the case.
Before you even consider launching a product on Amazon you need to do the research and understand all the costs that come with it.
A few things you need to do before you can successfully launch a product on Amazon.
Amazon Product Launch Tip #1 | Understand the Marketplace
Understand the Marketplace: Research the product you want to sell. There are a lot of tools out there that can give you insight into the search volume for any given product. Is it something people are actively searching for? Will there be a learning piece you need to explain to consumers before they buy the product? If so that can be costly and often times requires off-Amazon advertising.
Launch Tip #2 | Know the Competition
Know the Competition: Who are the other sellers in the space? How many competitors are there? Are they established brands you’re competing against? What keyword terms are the competitor’s ranking for that are related to the product? What is the CPC (cost per click) to compete with Sponsored ads for the high volume keywords?
Learn more about Branding on Amazon.
Tip #3 | Know Your Margins
What are your Margins?
Understanding your margins is an absolute must. Think about all the costs that come with selling a product? Cost of goods sold including packaging, shipping, Amazon fees, Marketing, and don’t forget to factor in the average percentage of returns. To launch a product you will often times need to run some discounts to get the product moving and help generate reviews. Understand the price point you need to be at to still be profitable and compete in the category.
Amazon Product Launch Tip #4 | Optimize your Content
Optimized Content: Do the research into your product and the category. Look at how the listings are displayed. What are the keywords you need to have in your content? Be sure to have great images that comply with Amazon’s policies. Make it easy for the customer to want to buy your product and answer any question the customer may have before they have it. Remember content is King.
So that’s it, those are our tips for launching a product on Amazon. If you need more info, we’re happy to help with a free consultation.
Giant gains on Amazon are possible. (Examples)
49% of all online sales last year went through Amazon.
Amazon isn’t going anywhere anytime soon, it is only growing. There’s still a ton of success to be had selling on Amazon.
Just remember before you decide to launch on Amazon to do the research and plan accordingly. We can help. We’re Amazon Consultants and we specialize in helping you succeed on Amazon.