Kevin Lee interviews Michael Begg, co-founder and CEO of AMZ Advisers, on smart marketing strategies and tactics for Amazon. Smart brands can maximize profit and revenue by driving low-cost traffic to Amazon and taking full advantage of the mechanisms that Amazon makes available to incentivize this traffic, including mid-funnel marketing tactics, brand referral bonuses, and leveraging audience targeting through the Amazon Marketing Cloud.
Steps that smart brands should take when active on Amazon include:
- Focusing on mid-funnel ad strategy on product detail pages, sponsored ads, and brand awareness.
- Distributing the majority of Amazon marketing budget to bottom-funnel sponsored products.
- Leveraging Amazon's brand referral bonus for affiliate marketing, with a focus on incentivizing affiliates and maximizing customer lifetime.
- Using promotional dollars to benefit consumers through couponing, discounts, and other Amazon FBA features.
- Avoiding competitive conquesting on branded search and focusing on creating consideration for the brand with potential customers.
- Focusing on profitability and maximizing returns in hyper competitive categories like supplements, where customer acquisition costs are high and suggested bids are even higher.
- Using Subscribe and Save as a loyalty program to increase customer lifetime value, particularly for consumable products with repeat purchasing potential.
- Leveraging Amazon SEO and influencer marketing for increased traffic and sales.
- Organizing influencer campaigns well and structuring content briefs to help prevent influencers from making unapproved claims.
- Finding a manageable “sweet spot” for influencer partnerships, avoiding both high-end celebrities and long tail micro-influencers.
- Aggressively testing new Amazon advertiser/seller tools when they become available.
Негізгі бет Michael Begg, of AMZ Advisers, on maximizing profit and revenue on Amazon
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