6 Tips for Growing Your Amazon Business
There are many decisions that go into bringing your business to Amazon. Maybe you’re looking to create a new revenue stream, perhaps it’s to trial out a new product offering that’s more enticing in the digital space.
Whatever your reason, there are nuances to selling on Amazon; nuances that if you master can put you in a great position to grow your business and eventually get acquired.
As former Amazonians ourselves who have been involved in multimillion dollar Amazon business from the very beginning through to their acquisition, we know what it takes to scale and optimize your operations. We’re breaking down six essential tips to get you started.
Build a Repeat Customer
Focus on lifecycle. Repeat customers are a great indication of overall business health. What can you do to encourage a repeat purchase? How are you thinking about retaining your customers?
Nothing Beats a Positive Review
Build a strong review strategy. Reviews are a great indicator of your business. Do you have great reviews? And do you have more of them than your competitors? If the answer to either of these is no, think about ways you can get more positive reviews on your site. Is it offering post-purchase customer service? A limited guarantee on your product’s quality?
Consider Search
SEO isn’t a term reserved just for Google. There are secrets to SEO on Amazon that you should be thinking about as you list your products. Consider what keywords — and long-tail keywords — are relevant to your product. SEO can change over time, so be sure to review performance regularly and make any changes to wording needed to drive your product on the first page of search results.
Customer Acquisition Matters
Having a customer base is still important, even if you are primarily using Amazon. Consider other channels as a way to grow your customer base, including an off-Amazon lead generation email strategy and social media strategy, which can be organic, paid, or both. Develop a strategy targeted at user engagement across your non-Amazon platforms and look to drive conversion as you build brand affinity.
Develop a Roadmap
At any stage of your business, you want to know what the future is going to look like. In what ways does your business grow with more capital input? This can be as simple as considering what low hanging fruit you could tackle if you had more labor resources at the ready. Consider initiatives you attempted but were met with limited success because of a lack of resourcing (time, money, people). Are you able to systematize any processes and build playbooks to aid in that growth?
Product Diversification
Take a look at adjacent product lines. Is your brand able to launch in any adjacent categories, and show that you can manage some early successes, or at least triggers that there is interest among your customer base?
As you explore the six tips and how they relate to your Amazon business, we are here as a resource to help. Be sure to check out our website, as you start to navigate these successes with your brand. If you can implement all or some of the above, you may be in a good place to sell. Get your free evaluation by our expert Acquco team here.
About Acquco
Founded in 2020, Acquco is an institutionally-backed acquisition company based in New York City. We are focused on third-party FBA sellers on Amazon. Led by a team of veteran operators and ex-Amazonians, we allow for founders to successfully exit their Amazon business in less than 30 days. We offer flexible terms and do not prevent entrepreneurs from selling again on Amazon.
