Insights
Marketplaces
Marketplaces are an ever-growing force. With over 125 million US shoppers subscribed to Amazon Prime and reports claiming over 50% sales growth last year, the demand is soaring. Optimizing your audience exposure is vital for entering the fast-paced and highly competitive world of marketplaces.
With Amazon Marketplace accounting for 50% of the global marketplace share, it is clear that it is the platform of choice for many brands to get started with marketplace selling.
Amazon’s Brand Registry is an excellent initiative to protect and build your brand. Designed to boost audience exposure while creating a better customer experience, the platform has tools to help drive conversions.
Enrolling your brand unlocks a robust analytics database that includes reports on customer behavior and search terms, allowing you to get closer to your audience and their desires. An office supplies client has significantly benefited from the registry offering, adding authenticity and trust to their brand presence and attracting buyers.
Automated protections add authenticity to your products with proactive surveillance, removing suspected infringing or inaccurate content, and 24-hour support, encouraging marketplace optimization.
Upon subscription, sellers also gain access to the brand store portal. This free tool allows sellers to design an online store, creating an excellent opportunity to showcase products, drive sales, and boost shoppers’ loyalty.
Amazon’s FBA service is becoming increasingly essential in the leading marketplace. The growing benefits are evident, with 94% of all Amazon sellers using FBA. 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 uplifts between 30-50% when moving their products to FBA due to the rapid delivery service that is becoming commonplace.
Feedvisers’ recent study revealed the strength of loyalty among Amazon’s customers, with 89% of surveyed consumers being more likely to buy products from Amazon than any other e-commerce 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 e-commerce market. 67% of customers from the same study cited Prime eligibility as an essential factor when selecting a product on the marketplace, meaning most users filter especially for Prime products when browsing the platform.
Spread across 21 countries, the Amazon Marketplace has proven powerful for millions of brands, with 64% of sellers profiting within their first year.
Amazon’s Vine is a review-boosting program that significantly increases 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 reviews “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 and higher rankings in Amazon’s search results. To qualify for the Amazon Vine program, 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 that they carry more weight in the eyes of potential customers, given the program’s credibility.
Participating in the program is a valuable tool for boosting awareness around newly launched or slow-moving products while building trust and transparency for your brand. The data received from Vine reviews also allows you to understand better your product and how it is being received by your audience, creating improvements and progression opportunities.
Routine updates to your keywords, product descriptions cost-per-click (CPC) models are 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 valuable 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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