In the ever-evolving landscape of eCommerce, Amazon stands out for its continuous adaptation and introduction of new features to enhance both seller and customer experiences. In this webinar, Will Hare, co-founder of Bellavix, talked about Amazon’s latest tools and techniques, from targeted promotions and enriched product listings to leveraging Amazon’s logistics and analytics dashboards. This invaluable session, tailored for eCommerce professionals, will help you position your brand strategically, optimize marketing efforts, and elevate the customer buying experience.
Please access the webinar presentation on this link.
Key takeaways:
Brand Tailored Promotions
- Brand tailored promotions have replaced MICE, which was the manage your customer experience tool.
- This new promotional tool allows for tailored discounts to specific groups of shoppers based on their intent.
- The offers show up as regular coupons and discounts in search, on product detail pages, and on promotional shopping pages.
- Targeting options include repeat customers, abandoned cart shoppers, potential new customers, brand followers, top tier, promising, and at-risk customers.
- Steps are provided to set up brand tailored promotions, allowing businesses to start leveraging this marketing tool right away.
Advantages of A Plus Premium Content
- A Plus Premium Content offers several advantages, including higher conversion rates, enhanced visuals, interactive modules, comparison tables, and high definition videos up to 5 minutes long, as opposed to 30 seconds with standard A Plus Content.
•The Q&A section is beneficial for acquiring more customers, reducing returns, and ensuring that shoppers are buying the right products.
•The comparison table is a great way to showcase complementary products in a catalog and build average order value.
•A Plus Premium Content offers more features and is suitable for categories or catalogs with a larger number of products.
•Specific updates include the addition of the ability to add to cart, a navigational carousel, hotspots, and Q&A modules.
•The comparison table allows for showcasing different products in a catalog and is useful for beauty regimens or products with multiple components.
•The goal of the comparison table is to increase the average order value and streamline the shopping experience without creating crowded relationships between parent and child products.
Amazon Buy With Prime Functionality and Product Life Cycle Support
- Amazon Buy With Prime allows customers to check out with Amazon Pay and have their orders fulfilled by FBA, with potential for a 25% conversion rate improvement on websites that offer this functionality.
•The program is easy to set up and integrates with platforms like Shopify and WooCommerce, making it accessible for many ecommerce sellers.
•The Buy With Prime feature showcases select products that can be added to cart and checked out directly through Amazon, offering quick delivery and logistical benefits.
•This program may work well for Amazon endemic brands and brands focused on products geared towards Amazon shoppers, but it may not be suitable for everyone.
•Product life cycle support focuses on maximizing customer lifetime value, which is a key challenge for sellers on Amazon throughout the year.
Strategies for Increasing Customer Lifetime Value on Amazon
- Measure customer lifetime value in a 365-day period
•Utilize Amazon Marketing Cloud to track behaviors and effectiveness of advertising and marketing components in driving lifetime value
•Grow brand presence and encourage repeat purchases for products and categories that require repeat shoppers
•Tactics and strategies for growing lifetime value on Amazon include product bundling, subscribe and save, package inserts, Amazon post, brand loyalty, terms of service methodology, running discounts, and brand tailored promotions
•Prioritize high customer lifetime value products and engage in customer engagement emails and Amazon Live to increase lifetime value
•Reports available on Amazon for measuring and gaining insights into customer lifetime value include search term report, item comparison and alternative purchase behavior, and repeat purchase behavior
•Use insights from reports to strategize and differentiate your product in the market
Conclusion
Navigating Amazon’s vast and continuously evolving marketplace can be daunting for sellers. However, with the right strategies and an understanding of the platform’s latest features and policies, businesses can optimize their operations, improve customer experiences, and achieve substantial growth. Agencies like Bellavix play a pivotal role in guiding sellers through these changes, ensuring they are well-positioned to leverage Amazon’s dynamic ecosystem to their advantage.
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