The core goals of any business owner are growing their brand and increasing their revenue. Of course, these goals are no different from those of Amazon sellers either. You might however be wondering: how exactly do I grow my brand and increase my Amazon sales? Amazon sales velocity is the metric you want to increase.
If you’re hoping to dramatically increase your revenue and expand your brand’s reach then you’ll want to follow a few key steps for growth when it comes to selling on Amazon. Below, we discuss our top tips for finding success on the Amazon platform.
What is Amazon sales velocity?
Sales velocity is an Amazon metric that is defined as the number and dollar amount of a seller’s transactions in any given month. Essentially, sales velocity is a measure of the rate of your sales per month. Therefore, the higher your sales velocity, the more revenue you’re generating.
Since sales velocity is a performance indicator on Amazon, your product rankings will improve with a higher sales velocity, helping you increase your Amazon sales even more.
It’s also worth mentioning that there are sales velocity limits placed on each account at the time of registration. These limits are in place to protect both sellers and customers and when a limit is exceeded, Amazon will analyze and review the account to determine if its eligible for a limit upgrade. If your account is in good standing with Amazon and performing well in terms of sales, then you’ll be awarded increased sales velocity limits so you can continue to grow your brand.
How do I increase Amazon sales velocity?
As mentioned previously, Amazon does account reviews prior to increasing velocity limits. Therefore, to increase your Amazon sales velocity, you must first increase your conversions while adhering to Amazon best practices so that you are eligible for a higher sales limit.
With Amazon, the more sales you make, the higher you will rank organically in their search engine. This in turn will drive more traffic to your listings and potentially generate more sales. As a result, when you increase your Amazon sales, you’ll experience a snowball effect on your sales revenue.
With that all said though, you’ll still need to find ways to drive traffic to your listings to increase your Amazon sales velocity. In this article, we share our top tips for increasing your sales velocity on Amazon so you can continue to find success on the platform.
Tips on how to increase Amazon sales velocity
So you’re ready to increase your Amazon sales velocity but you don’t know where to start. Lucky for you, we’ve outlined several tips you can follow to drive more traffic to your listings and increase Amazon sales.
1. Listing optimization
Our first tip is a crucial one since you must ensure your listings follow product listing best practices.
Amazon sets out strict guidelines for how listings should be laid out and appear to sellers and at a minimum, you should check that you are meeting these guidelines. You’ll then want to take it a step further by fine-tuning your listing with engaging product copy, high-quality photos, high-performing keywords and more.
Plus, the better your listings are perceived by customers, the more you will increase your Amazon sales velocity.
2. Get more reviews
This might seem easier said than done but it’s critical you convince your customers to leave feedback on your products to increase your Amazon sales velocity. The more reviews you have, the more likely customers will choose your product since you’ll have established more trust among buyers. Essentially, prospective shoppers want real social proof of what your product can do since they won’t be able to see it in person beforehand.
To encourage your buyers to leave product reviews, you’ll either want to provide incentives such as a discount code on future orders or convince them that leaving a review is helpful to not just your business but to other buyers like them. You may want to try incorporating prompts in your packaging asking for reviews as well as follow-up emails kindly asking customers to leave feedback.
3. Optimize your SEO
One of the best things you can do to increase Amazon sales velocity is to focus on your SEO. This includes optimizing your on-page and back-end keywords as well as ensuring you’re following SEO best practices. Amazon is the world’s largest product search engine, so you want to make it one of your top priorities as an Amazon seller to rank high in product searches.
4. Invest in high-quality product imagery
First impressions matter when you’re competing against so many other eCommerce sellers, so you’ll want to stand out with high-quality product imagery. By investing in professional photos of your products, you’ll develop more trust among potential buyers and capture their attention with eye-catching images. If you’re on a tighter budget, you can still accomplish this goal with a smartphone, good lighting and basic photo editing software.
Amazon also suggests creating product videos to help customers better understand how your product will look and perform in person. Remember, it’s always worth the investment when it comes to increasing your Amazon sales velocity.
5. Customer experience
A more memorable customer experience will yield better reviews from your customers and encourage brand loyalty. There are countless ways to improve customer experience, but one that’s easy to focus on is your packaging and unboxing experience. An unboxing experience should be fun for your customers and include CTAs to review your products and visit your social channels.
6. Expand advertising beyond Amazon
Generating leads from other channels will help boost your Amazon sales velocity by driving more traffic to your listings. Therefore, you’ll want to focus some of your advertising efforts on social media marketing including Facebook and Google advertising. By increasing your brand’s reach, you’ll bring in more customers that can’t be targeted on Amazon alone.
7. Audit and optimize
When selling on such a large platform, you must be able to adapt and optimize your processes since trends are always evolving. By constantly reviewing your listing and marketing performance, you’ll be able to stay up-to-date on everything that helps increase your Amazon sales velocity. Also, only make changes based on data to ensure that your listings and your Amazon PPC efforts are not underperforming.
8. Build your Brand
As we’ve mentioned before, you’re competing against millions of other sellers so you’ll want to stand out from the crowd in order to increase your Amazon sales. This means building a recognizable and distinct brand that is expressed through your packaging, on products and through your marketing. You’ll also want to enroll in Amazon’s brand registry so that your branded store has the protection it needs.
By building a reputable and recognizable brand, you won’t only increase your Amazon sales velocity, but you’ll also increase brand loyalty which will further accelerate your business’s success.
If you want to grow your brand on Amazon then you must take several critical steps to increase your Amazon sales velocity and therefore generate more revenue for your eCommerce business. With the tips outlined in this article, you’ll be able to grow your reach, increase trust in your brand and, of course, boost your Amazon sales velocity in an efficient and organic manner. Try these 8 tips today and watch your sales soar.