Amazon boasts about 6.3 million sellers worldwide, making it one of the most prosperous online marketplaces. In light of the escalat...
Amazon
boasts about 6.3 million sellers worldwide, making it one of the most
prosperous online marketplaces.
In light of
the escalating competition both on and off the Amazon platform, it's critical
to find strategies to differentiate your brand.
Amazon
provides sellers with distinctive and creative choices to help them stand out.
Amazon's
Brand Referral Bonus Program is one such method.
It is intended to assist brands in expanding their consumer base and boosting revenue.
We'll
examine the Amazon Brand Referral Program in more detail in this post, along
with participation options and revenue-boosting strategies.
Outline:
The Amazon
Brand Referral Bonus: What Is It?
Who is
eligible to apply for the Brand Referral Bonus Program?
How can I
become eligible for the Amazon Brand Referral Bonus?
What are the
advantages for brands of the new Amazon Brand Referral Program?
Is it
necessary to increase outside visitors to your listings?
The Brand
Referral Bonus can be earned in three steps.
How do you
monitor your bonus for brand referrals?
Four
pointers to optimize your Bonus for Brand Referrals
Conclusion
The
Amazon Brand Referral Bonus: What Is It?
Through its
Brand Referral Bonus program, Amazon pays you a bonus for bringing customers
from non-Amazon marketing sources to Amazon. 10% of the sales of the marketed
product as well as any other products the consumer purchases from the brand
during the next two weeks are bonused to them. The bonus is given to the Amazon
seller as a credit toward their referral payments.
The program
increases the effectiveness of non-Amazon marketing initiatives that drive
referral traffic to Amazon by extending the benefit to customers who purchase
additional products from the Brand up to 14 days after clicking on the
advertisement.
Who is
eligible to apply for the Brand Referral Bonus Program?
Brands that
sell in the United States and have registered with Amazon are eligible to
participate in the Brand Referral Bonus Program. Non-brand owners are not
allowed to take part in this program, but they can still earn rewards through
the Amazon Associates program for directing traffic to Amazon listings.
In order to
take part in the Brand Referral Bonus Program on Amazon, you must first
register for both Amazon Attribution and the Brand Referral Bonus program. To
track your performance and bonus after these are set up, you need to establish
tags using Amazon Attribution. To be eligible for the bonus, all traffic
pertaining to advertised products must have an Amazon Attribution tag. Once
your ads are running, you can check the amount of your bonus on your seller
account's Transaction Details page. Please be aware that the bonus will not be
paid to your account until after two months of waiting.
How can I
become eligible for the Amazon Brand Referral Bonus?
The product
must contain an Amazon Attribution tag and have been purchased within 14 days
of the advertisement being clicked in order to be eligible for the bonus.
What are
the advantages for brands of the new Amazon Brand Referral Program?
The Amazon
Brand Referral Bonus is a cost-effective method for qualifying businesses to
lower the often high referral fees of 15%. As a result, these companies may
spend their non-Amazon advertising budget more cheaply and effectively.
Brands can
also assist new product launches on Amazon by using non-Amazon publicity and
avoiding cannibalizing their direct sales. Additionally, you may use Amazon's
more to attract mid-funnel consideration shoppers or revive dormant shoppers
who disappeared from your conversion funnel.
Is it
necessary to increase outside visitors to your listings?
The
purchasing process for customers has become more complicated today. Numerous
touchpoints exist, such as social media, where consumers can actively or
passively look for things. Therefore, you can boost sales and elevate the value
of your brand by interacting with relevant customers through channels other
than Amazon.
However, if
your business has a direct-to-consumer (DTC) website, you can also reroute
outside traffic to it.
Brands can
obtain important information into how their non-Amazon customers find and
evaluate their products in the Amazon store by utilizing the Amazon Attribution
service. Brands can use this information to customize their digital strategy
and increase their visibility and influence in the Amazon shop. In this manner,
brands can make sure the touchpoints they use work and support their business
expansion.
The Brand
Referral Bonus can be earned in three steps.
Now that you
understand the benefits of selecting the Brand Referral Bonus, let's look at
how to do it.
1. Become a Member of the Program
You have to
register for the program as the initial step. Go to Amazon Seller Central and
select the Brands tab, then the Brand Referral Bonus page, to accomplish this.
There is
only one click required for enrollment if your brand qualifies. To get your
bonus after enrolling, you will then have to complete a tax form.
2. Using
Your Amazon Advertising Account, Start a Campaign
After
enrolling in the Brand Referral Bonus program, go to the Brand Referral Bonus
landing page and select Amazon Attribution.
After that,
you can begin tagging your campaigns. For a campaign to be eligible for the
incentive, Amazon Attribution must be present.
Your chosen
products' total brand impact is measured by Amazon Attribution, and the Brand
Referral Bonus program will provide you credit based on these sales.
3.Get the
Bonus
To do this,
you'll need to launch marketing initiatives outside of Amazon to increase
product sales. You will begin receiving bonuses as soon as sales are generated
by your campaigns.
As we
previously mentioned, you will receive the bonus as a credit toward your seller
referral fees. Typically, the bonus amounts to approximately 10% of the sales
you generate.
Let's take
an example where you sell office supplies on Amazon and you use off-Amazon
marketing initiatives to increase sales. Consequently, you would have generated
$2000 in revenue for your office supplies. As the bonus typically represents
10% of the sales you generate, you will receive a $100 bonus.
This
additional money will therefore be applied to your seller referral fees as a
credit.
How do
you monitor your bonus for brand referrals?
You must
first wait for the bonus to be applied to your account for two months in order
to track your Brand Referral Bonus. This time allows for order cancellations
and customer returns.
You can
obtain your Brand Referral incentive report from Amazon Seller Central after
you've received the incentive.
This report,
which is updated every Friday, will list the approximate bonus you have
received for qualified sales during the previous ninety days. Referral fees on
subsequent transactions will be subtracted from your earned bonus until it is
fully utilized.
To track
your Brand Referral Bonus, we recommend downloading Date Range Reports starting
on the 10th of the month and continuing for the next 10 days.
Furthermore,
you can keep an eye on bonus payouts by looking over specific transaction
information.
The bonus
payments will show up under the "Discount on referral fee" line if
the incentive pays the referral fee in full or in part and there is a tax
associated with the fee.
The referral
fee part of the transaction will not be seen when the incentive fully
reimburses the referral charge and there is no tax associated with the fee. The
bonus will be applied automatically in the background.
Four
pointers to optimize your Bonus for Brand Referrals
As an Amazon
vendor, you ought to take advantage of each chance to raise revenue and
earnings. Using the Brand Referral Bonus is one method for doing this. Here are
four suggestions to help sellers boost profitability and make the most of their
bonuses.
1.Start
with sales of new products.
Starting
with new product sales is the greatest strategy to optimize your Brand Referral
Bonus. Try employing off-Amazon marketing to boost your items' visibility and
conversion when you introduce a new one or if sales are slow. You can use your
social media following to market your new product. This can help you get your
first sales and receive a bonus all at once.
You might
also want to think about advertising or improving your product detail page as
other strategies to raise product visibility.
2. Make
your Amazon product listing more effective.
To increase
the position of your product listings in Amazon.com searches, use search engine
optimization (SEO).
A product
listing can be optimized for seven main components: keywords, back-end search
keywords, features (bullet points), photos, title, description, and pricing.
Your product's visibility can be increased by using pertinent keywords, a
thorough description, and eye-catching photographs. This will increase sales
and your referral incentive.
3. Reconnect
with clients using Sponsored Display
You can
utilize Amazon advertisements to increase your products' visibility. For
instance, you can advertise both on and off Amazon using Sponsored Display ads,
which will help you reach customers who have seen your product but haven't
purchased it.
These
advertisements aim to increase conversions by serving as a reminder to buyers
about your goods when they browse Amazon and other websites. This will increase
your return on ad spend (ROAS), which will assist offset your ad cost and
optimize your brand referral incentive.
Returning to
the subject at hand, use these procedures to make Display adverts that will
advertise your non-Amazon marketing endeavors.
· To make it easier for you to find in
the future, create a Sponsored Display campaign and name it something like
Brand Referral Bonus.
· Use non-Amazon marketing to promote
the products you are endorsing.
· Choose "Audiences"
targeting in the campaign creation process, followed by "Views
remarketing; Advertised products" to interact with audiences that have
visited your particular product detail page in the lookback window.
· Because Brand Referral Bonus operates
on a 14-day attribution window, be sure to match your Sponsored Display
campaign's look back duration of 14 days.
4. Add a
Bonus for Brand Referrals with Deals
Including
the Brand Referral incentive with promotions is a smart approach to optimize
your brand's referral incentive. You may entice customers to take advantage of
your bargains and earn a referral incentive on any sales by referencing your
deal in your non-Amazon marketing efforts with a call to action (CTA).
To generate
a sense of urgency and encourage customers to make a purchase from your
company, you could, for instance, run an advertisement that says, "Save
25% now" or "Shop our Deal of the Day on May 15."
Conclusion
Earning a
substantial incentive on sales resulting from non-Amazon marketing initiatives
is possible with the help of the Amazon Brand Referral Program. Sellers can use
this fantastic chance to boost their earnings with Amazon Brand Registry. You
may take full advantage of this program's potential and generate a substantial
revenue from it by using the appropriate marketing approach.
Read More:
Pro Tips For Amazon Sellers Launching New Products
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