You’ve listed your product on Amazon and it’s not selling.
Or it’s not selling enough to make it a profitable venture.
This 5 question test will help you isolate exactly where the problem is, and show you how to fix it.
5 Point Product Slump Test
Is Your Product Ranked on Page 1 of Amazon Search for At Least 3-5 Top Searched Keyword Phrases?
In order for your product to sell, it must be ranked on page 1 of Amazon search for at least 3-5 top searched keywords or keyword phrases.
When buyers search for products on Amazon, if they don’t see the product they want on page, one…
- There’s only a 20% chance they’ll continue their search to page 2.
- A 13% chance they’ll continue to page 3
- And only 2% will ever see a product ranked on Page 10 of Amazon search
Test Point #1: Have someone who normally doesn’t search for your products on Amazon, do a search for the top keyword phrases you want your product to be found for.
Does your product come up on the first page?
If not, it’s time to run Amazon Sponsored Product Ads to buy a page 1 rank.
It’s also time to improve your page SEO so that it ranks organically on Page 1.
NOTE: Why can’t you do the rank search? Well you can, at least initially. But after searching for your product multiple times and clicking on your product page, Amazon will start to elevate your product’s rank position in your search results, giving you a false high rank.
Is Your Product Page Optimized for Buyer Conversion?
Your product page must be optimized for both search (SEO) and buyer conversion.
If the product page you’re listing on has any of these issues:
- A title that doesn’t doesn’t get buyers to click on it
- Only one image
- Bad images
- Skimpy bullets without features and benefits
- No compelling value communicated
- No product reviews
- Untested or wrong pricing
Buyers will visit your page but likely won’t purchase..
Are You Running Amazon Sponsored Product Ads?
If your product isn’t selling, (or to get a new product selling) you need to run Amazon Sponsored Product Ads.
In Q4, Amazon 3rd Party Merchants who used Amazon Sponsored Product Ads, saw a 100%+ increase in sales.
My own clients and students of my AMP Coaching Program, saw a 1200%+ increase in sales.
Amazon Sponsored Ads are hands down the most effective way to get visibility and sales for your products on Amazon.
(In February 2016 Amazon made some changes that caused a momentary hiccup with ASPAs, which have since been reverted).
Now, here’s an insider tip we’ve found from testing hundreds of ads.
Even if you have a page 1 organic rank for your product, running Amazon Sponsored Ads and getting a page 1 ad rank for your product will increase your sales.
The more of a “footprint” your product has on the first page of Amazon’s search results, the more you will sell.
Is this a Seasonal Sales Slump?
It’s important to be aware of the seasonality of your products. If your product is out of season, it’s time to replace that income with some fresh inventory.
Each year, one of my AMP students had great sales from January – April. In June their sales dropped like a box of rocks.
After putting their product line through our full “Identifying the Cause of a Sales Dip” assessment (found exclusively in AMP) she realized that the product line she’d thought was evergreen (and would sell all year long) wasn’t.
Once she identified the problem, she immediately knew that she needed to expand her product line with products to fill in her gap time from June-August.
Your Product is Saturated
The law of supply and demand is alive and well on Amazon.
Holding on to inventory that doesn’t have enough demand, or is over saturated with competitors – is an all too common practice.
If there are too many sellers on your product page or too many sellers of the same/similar products in your category, you need to take action now.
While in some cases you may be able to wait things out and let the other sellers sell out first, this is rarely the case. (In fact, most sellers make this mistake and tie up valuable cash in unsold inventory.)
If you have price flexibility in your product, test a different pricepoint and to jumpstart sales and find the product price sweet spot.
(If it’s a situation of the product being in a downward spiral in the race to the bottom, don’t enter that race! You won’t win.)
The next step is to decide whether or not your product is a candidate for product bundling – but be forewarned! You can’t just put a non-selling product together with any product and expect it to sell! Your product bundle must offer compelling value to the buyer.
If the supply of your product on Amazon exceeds demand, Sometimes, no matter how much you work to improve your product visibility and conversion, a product just won’t sell.
It’s at this point, it’s better for your business to cut your losses, get your cash out of the product and move on.
Do you need help increasing your sales?
If you’re struggling to hit your sales goals and grow your Amazon business, my Amazon acceleration program, AMP is now open for enrollment.
We have a limited number of spots for motivated Amazon merchants who are committed to reaching their sales goals this year.
And through March 6th you can save 32% on your AMP enrollment.