🚀 Increase sales 108% after launching on Amazon
Let’s get the pleasantries out the way, Happy New Year, now on with what I learned about Amazon this week (this fortnight, given our slight break).
1. Why don’t we put QR codes on more of our items, it’s logical to help others discover them once they’ve, well, discovered them.
2. I keep asking people do you launch with your full range or just part of a range. A lot of people believe that singular product launches are often best, including Melissa Burdick in my recent podcast, and Harry’s.
3. US E-Commerce sales will have grown more than 30% in 2020.
4. Amazon is now prioritizing merchant fulfilled to non-prime members to take some strain off their centres.
5. Here is a solid video breaking down of Jeff Bezos regret minimization framework – something I personally use a fair bit.
6. Amazon Pharmacy are going to make a splash and people are shitting themselves – for good reason
7. Here is a great example of a sponsored video ad being executed well. Clear and consistent messaging across all facets.
8. In order to encourage action, we must create scarcity and urgency. Take this example. This could work for you, for example, with a community group of loyal fans. You could say “we’re holding 50 of our new line in reserve for our VIP Group, that’s you guys, if you want to jump on the list it’s first come first serve, click here before all 50 spots get snapped up”.
9. On average you’ll experience a sales uplift of 108% when you go from 1 review, up to 2-20 reviews. I also felt the social proof required was 21, once you dip into the 20’s and onwards you’re going to see the greatest uplift. i.e. 15→21 has a bigger weighting than 21→100. I also feel this is particularly prevalent in today’s world where perhaps customers are filled with doubts around those 3000+ reviews we see. Here are some more fascinating points on the impact of reviews on Amazon.
10. A great, and very practical breakdown, of how you can cause an explosion of sales by jumping on things fast. Using TikTok this peanut butter brand accelerated to 500k/month, and it largely came from working with influencers on the platform. Which means, you can probably still do this, and it won’t cost you an arm and a leg like those Insta rats charge.
11. George, stop talking about communities and why they’re so important. Sorry folks, another great example of a brand building a strong community, who are also absolutely killing it. Does this come as a surprise to you any more.