Here is what I learned about Amazon in the last 7-days:
1. Many believe Amazon is the biggest threat to an Amazon business right now. Traditionally because of their own brands, however, Andrew Shields, who appeared on the podcast this week, offered a fascinating alternative threat posed by Amazon that I’d overlooked.
2. There’s lots of research going on at the moment around geo-ranking on Amazon. That is how you rank in different locations (mainly the US) based on where your stock is located. Further reinforcing the importance of effective inventory management and planning.
3. Facebook advertising might not be the best for all brands. If your target market spends more time on another platform, say Pinterest, then double down on the advertising you’re doing there. Rather than spreading your budget thinly, nail one channel that offers the greatest ROI. Particularly prevalent given the ongoing cost increase of Facebook ads.
4. Partnering with influencers to bring brands to the market together could massively reduce the short-term costs of marketing a new product, plus will give you much more relevant insights into your target customers behaviour.