A product launch is as exciting as it is nerve-wracking. There is a lot of preparation needed to successfully unveil a new product, gain momentum, and actually make people care about it. To be able to pull it off, you will need knowledge from many sources. Numerous business usually are not able to do pull it off effectively and it requires significantly more thought and work. It’s not simply a question of posting your item.
A firm strategic foundation is the first thing that you need to come up with. It needs to be compatible with the kind of product you are trying to put out. An effective plan as early as this stage will prove to be beneficial as your business grows on Amazon.
With information gathered from numerous reliable sources, this article will break down the blueprint of a victorious product launch.
To better understand the process, I will divide the strategies chronologically according to when they should be applied: before, during, and after launch.
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The Amazon A9 algorithm is the system that decides which products rank high on the search results. As a seller, you need to know how it functions so you can devise a strategy that will allow you to use that system to your advantage. Product launches are prone to issues where sellers do not gain a lot of sales shortly after. Why aren’t they generating sales? Most probably because people have not seen it.
Do not think of Amazon as Google. Yes, the concept is the same but the inner workings and the factors that come into play to the results are different. Google mainly base their results on keyword relevance. Amazon, being an e-commerce platform, relies primarily on sales. Reviews and optimization matter as well but sales do have the biggest impact.
Part of the development phase of a business is selecting a good product or service to offer and the correct business model that works with it. There are many factors that need to be considered for that. This is where a seller needs to have a two-way mindset where both consumer and seller interests are put into consideration. You have to figure what the market wants and needs, their buying behavior, and the possible obstacles that could get in the way of them reaching you.
On a different note, you should also make sure that you are passionate or at the very least interested in what you’re selling because so rarely does it happen that passion-turned-business stories are successful. You have to be engaged and invested in the business otherwise when you lose the drive to go on, it’s all downhill from there.
Competition is also another factor here. The bigger the competition, the harder it will be go up the ranks. We recommend starting off with a product that has less competition to allow some time for your brand to grow and generate income before expanding to more competitive products.
Brand is your own unique tone and the impression that buyers will carry with them to remember you by. This is not an option anymore for Amazon sellers. You need to build your brand if you do not want buyers to forget about you. Put in some work on this before launching a product. If people do not care about your brand, then they will most likely not care about your product too. Your brand will be the forefront of your business. It will be the basis for all things visual and technical. Marketing campaigns, product packaging, store design, and many other aspects of your business will be built around your brand.
Know your numbers
On the financial side, you need to specify just how much you want and are able to invest and how much you expect to gain in return. You can see the profitability potential of a product on Amazon or on any other online tool so you know how much sales you can possibly generate from the product. Set clear and realistic goals. That way, you’ll know what you want and then work on how you’ll get it.
Control your weapons
A product launch is a battle with many opponents. Strategy is essential and you need to exactly when and how to use them to your advantage. Be hands-on with every aspect such as marketing, product development, brand building, macro, and micro tasks that are vital to the entire process. Knowing the status of each can help you determine which one needs more attention and how to further improve these key aspects to help move things forward. The brand metrics that Amazon provides to its sellers gives significant statistical information on how your store is performing.
Product Listing Optimization
The main player here is KEYWORD. Remember that word, take it to heart, because that will be your companion for as long as you intend to keep selling online. There are a lot of tools online that can generate well-performing keyword suggestions for your product. Scouting the competition can also be a good research strategy. After you have conducted your keyword research, it’s time to apply them to the different parts of the product listing. But it does not stop there, you have to actually track the performance of your keywords by monitoring the interactions that your product listing is getting.
Traffic from outside of Amazon
Most preferably, this is something that needs to be done prior to launch. However, an initial brand building should suffice for the meantime. But when your product goes live, you need to come up with ways to direct more people to it without relying solely on Amazon’s internal traffic. You can do that through social media marketing or email marketing. A product launch does not give you special privileges of increased visibility on Amazon. You need to work hard to make yourself seen amidst the heavy competition on the platform.
When a few customers have already made their purchase, you can request for them to leave reviews on the product listing. You need this to build credibility and encourage more customers to buy from you. By this time, you should be working on getting more outside opinions and let other people market the product for you rather than you exerting the extra effort to endorse it. Editorial recommendations can be of great help as well.
Think of the best-case scenario, you get a rush of incoming orders. Always update your inventory and restock as early as possible so you don’t leave customers hanging. Making this mistake will cost you reviews and customer loyalty and jeopardize the good thing you’ve got going.
Come up with an improved marketing strategy
You can always do better. There is always room for improvement. As you start getting sales and acquiring new customers, this does not mean you should lay back and enjoy your passive income. The work is constant. In fact, this should be an opportunity for you to use the momentum to build a new marketing campaign around it. A new trend that Amazon sellers have been using lately is the Amazon Live, where they basically do a livestream that feature product-related content.
A product launch is big milestone for a business! First of all, congratulate yourself for making it this far. Not everyone has the guts to take a risk and delve into the industry. No one else should take pride in your product more than you do! Remember to always be positive. The business is tough, and more often than not, it will be a rocky road. But that’s just an important part of the journey. Put in the hard work now, reap the benefits later.