The launch phase of a new product on Amazon is critical for building momentum for your brand! Matt Botha is an expert on Mergers and Acquisitions of Amazon businesses and the Associate Director of M&A at Elevate Brands. Matt discusses how to build your brand’s presence both online and in person. In this episode, you’ll hear about increasing your BSR using external traffic, using a mailing list for your Amazon brand, and measuring and raising your conversion rates.
Takeaways:
- To build brand presence, some online brands use a physical approach and go to in-person events that they know their customers attend or view.
- If you are selling on Amazon, you can use your actual website to build out your mailing list which you can then leverage to drive external traffic to your Amazon listings.
- Your emailing list is a great way to stay in touch with your customers, build your relationship with them, and as you launch more products, increase the average order value.
- It’s more important to have a highly engaged mailing list than a massive mailing list. You need to clean up your mailing list to maintain a high conversion rate by removing the unengaged people on the list.
- When people are shopping on Amazon, they know what they are looking for and are searching based on specific keywords. Because of this, you need to know what those keywords they are looking for are, especially during the launch of a product.
- Using paid ads on Amazon at the beginning of a product launch provides the initial momentum that will drive organic traffic to the listing. The more momentum built up at the beginning, the more sustainable the success.
- Companies that are acquiring Amazon brands are looking for sellers that have built good brands and, very importantly, have built great teams.
Quote of the Show:
- “If you build a relationship with your customer, your sale doesn't end at the one product” - Matt Botha
Links:
Shout Outs:
- Alteryx - Data Science and Analytics
Ways to Tune In:
Amazon Legends is sponsored by Argometrix, the authority on, and leading supplier of, competitive intelligence for online retail. To learn more, head over to https://argometrix.com/
Amazon Legends is produced by Ringmaster, on a mission to create connections through B2B podcasts. Learn more at https://ringmaster.com/