Insights
Marketplaces
Marketplaces are an ever-growing force, with over 15 million British shoppers subscribed to Amazon Prime and reports of over 50% sales growth last year, the demand is soaring. Optimising your audience exposure is vital for entering the fast-paced and highly competitive world of marketplaces.
With Amazon accounting for 50% of the global marketplace share, it is clear to see that it is the platform of choice for many brands to get started with marketplace selling.
Amazon’s Brand Registry is a great initiative to both protect and build your brand. Designed to boost audience exposure whilst creating a better experience for your customers, the platform is packed with a suite of tools to help drive conversions.
Enrolling your brand unlocks a powerful analytics database including reports on customer behaviour and search terms, allowing you to get closer to your audience and their desires. An office supplies client has benefited greatly from the registry offering, adding authenticity and trust to their brand presence and therefore attracting buyers.
Automated protections add authenticity to your products with proactive surveillance removing suspected infringing or inaccurate content, on top of 24-hour support encouraging optimisation of the marketplace.
Upon subscription, sellers also gain access to the brand store portal. This is a free tool that allows sellers to design an online store of their own, creating a great opportunity to showcase products, drive sales and boost shoppers’ loyalty.
Amazon’s FBA service is becoming increasingly essential on the leading marketplace. With 94% of all Amazon sellers using FBA, the growing benefits are evident. Subscribing to the service allows the marketplace to pick, pack and ship your orders and therefore gain eligibility for their one-day delivery Prime service with over 200 million global subscribers.
Amazon recently revealed that selling partners have seen an average uplift of 35% when moving their products to FBA in the UK, as a result of the rapid delivery service that is becoming commonplace.
Feedvisers’ recent study revealed the strength of loyalty with Amazon’s customers, with 89% of surveyed consumers more likely to buy products from Amazon than any other ecommerce site. Figures also confirmed almost half (48%) of Prime members buy products at least once a week, and over three quarters shop at least every few weeks.
Amazon’s authority is becoming increasingly difficult to rival in the ecommerce market. 67% of customers from the same study cited Prime eligibility as an important factor when selecting a product on the marketplace, meaning the majority of users filter especially for Prime products when browsing the platform.
Spread across 21 countries, the marketplace has proven powerful for millions of brands, with 64% of sellers profiting within their first year.
Amazon’s Vine is a review boosting programme and is a great way to increase quality traffic and customer confidence in your products. Designed to help its customers make informed purchases, customers with high reviewer rankings are selected to receive free products in return for honest reviews.
The reviewing ‘Vine Voices’ are assigned based on the helpfulness, quality and quantity of their reviews, as rated by other Amazon users. Participating vendors then benefit from increased reviews, as well as higher rankings in Amazon’s search results. To qualify for the Amazon Vine programme, you must have FBA stock.
Over 40% of internet users shop on Amazon specifically for access to ratings and reviews. Reviews from Vine Voices have shown to carry more weight in the eyes of potential customers given the credibility of the programme.
Participating in the programme is a useful tool for boosting awareness around newly launched or slow-moving products, whilst building trust and transparency for your brand. The data received from Vine reviews also allows you to better understand your product and how it is being received from your audience, creating the opportunity for improvements and progression.
Routine updates to your keywords, product descriptions cost per click models (CPCs) is key to remaining relevant in your categories. For example, weekly changes to CPCs have led to increased traffic for our current office supplies client, using data from existing models to inform strategic updates.
Expanding into sub-categories is another useful tool to boost exposure and stay ahead of the competition. Ranking in smaller, niche categories often leads to Amazon Best Seller accreditations to add further credibility to your brand.
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