What is this "box" that seems to be circulating around? The secret weapon for sellers looking to significantly boost conve...
What is
this "box" that seems to be circulating around?
The secret
weapon for sellers looking to significantly boost conversions—that is, raise
sales exponentially—is Amazon Buy Box.
Amazon is an
online store that compiles goods from both its own vendors and outside vendors
(vendors on Amazon). To put things in perspective, consider shopping at
Walmart. There, you can buy detergent from Tide, Downy, or Walmart itself.
In a similar
vein, every product on Amazon has a page dedicated to it that lists similar
products from various sellers. This means that, in contrast to maximizing other
online sales channels, acquiring visibility on Amazon's product pages is a big
barrier for merchants on the platform.
In what
ways may this "box" of magic assist me?
Your sale
may or may not be successful depending on this mystical "box."
Because of
its bright yellow "Add to cart" button and blue backdrop, the buy box
stands out and is positioned prominently on the right side of the product
detail page.
Customers
may swiftly and effortlessly add products to their shopping baskets using this
feature, which is the most visible aspect of the product description page and
distinguishes one fortunate Amazon seller from the rest. The Buy Box winner is
the sole merchant from whom a consumer may make a purchase after clicking the
"Add to Cart" button.
Beyond all
of these advantages, the Buy Box may tell your clients that you are an Amazon
recommended seller and that they can rely on you to deliver excellent products
and customer service. Most of the time, only one merchant is able to secure the
coveted Amazon Buy Box location, which might be unfortunate or lucky.
Let's
move past the Amazon Buy Box discussion now. What steps must I take to acquire
it?
There's
fierce competition amongst vendors offering identical products, as was
previously noted. Gaining control of the buy box is essential if you want to
raise the likelihood that a consumer will purchase a product from you.
You've been
waiting for this: the elements that will raise your chances of taking home the
Amazon Buy Box!
1. A
"LANDED" PRICE THAT'S COMPETITIVE
Well, let's
dissect this a little bit.
Total
Price + Delivery = Landed Price for your product
Don't be
duped by the belief held by many that price is the only deciding factor in
obtaining the Buy Box! Although it's not all of it, winning the Buy Box depends
in large part on one aspect of the "Amazon algorithm." That being
said, you must carefully analyze your pricing strategy.
Make sure
the price of your goods is competitive, including shipping (keep in mind that
delivery costs are deducted, so cutting the price of the item and raising the
shipping cost to turn a profit is ineffective).
This does
not imply that your product must be the lowest priced item available, but it
should be among the lowest.
It's a good
idea to do some competitive research both before and after you list your goods.
It might be a good idea to adjust your price if prices drop and a new rival
offers a more alluring deal.
It's
critical to monitor your competitors. It is quite a burden, though, to keep
track of all the competitor products in order to continuously monitor price
fluctuations.
2. THE
NEED TO BE ELIGIBILE
A
Professional seller account and at least two to six months of trading
experience are prerequisites for eligibility for the Buy Box program.
Alternatively, if you make advantage of the FBA service, you can win it
immediately.
It's also
required that you have demonstrated high performance levels on a consistent
basis. Several elements influencing performance will be,
· Excellent customer service may be achieved by paying attention
to a variety of aspects, such as how quickly you respond to inquiries from
consumers, how many "perfect orders" you send, how well-maintained
your items are, and how many orders you cancel.
· A flawless Seller Record: Completing a lot of orders well will
demonstrate to Amazon that you are a reliable, dependable seller who can
provide a superior, satisfying experience for clients.
· Enhancing Your Metrics for Customers Strong Customer Metrics can be
achieved by responding to customers promptly (within 24 hours), communicating
with them in a courteous and professional manner, setting up a shipping
schedule, packing your products carefully, and selecting a dependable shipping
provider. It might be wise to think about making use of Amazon's FBA service.
Check
your eligibility
· Head to SellerCentral
· Inventory Tab >> Manage
Inventory
· Select the ‘Preferences’ tab;
· In the ‘Column Display’ section, find
the ‘Buy Box eligible’ tab;
· Select ‘Show When Available’ from the
drop-down menu;
· If you see “Yes” in the column –
you’re eligible for that particular SKU!
3. ONLY
MARKET NEW ITEMS
In order for
Amazon to feel secure about the state and caliber of the goods they are
endorsing to their customers, you HAVE to sell new things in order to receive
the Amazon Buy Box.
4. HAPPY
SELLER REPORTS
One of the
best examples of consumer sovereignty is Amazon. This indicates that "the
customer is king" is a design principle incorporated into Amazon's
algorithms. So, Amazon takes seriously whatever customers have to say about
you. If the great majority of your clients have left you with positive seller
reviews, Amazon will be far more pleased to grant you access to the Buy Box.
Maintain a
satisfied clientele! In addition to everything else we've covered in this post,
a seller should constantly keep in mind how critical it is to promptly respond
to customer comments and strive to avoid unnecessarily raising your listing's
expectations. Your product description accurately describes what your buyers
should really receive.
5. Amazon
values a "stocker" more than everyone else
You won't be
the target of a restraining order for this, so don't panic.
Recall that
"great power comes with great responsibility." You should determine
whether you can meet the demand for your items even if data indicate that you
qualify for the Buy Box.
Amazon aims
to prevent users from adding "out of stock" items to their shopping
carts. Therefore, you must ensure that you have an ample supply of merchandise
if you want to be the first choice for people making a purchase. This does not
imply that you must have thousands of units, but you will most likely lose the
Buy Box if you only have a few units of a very well-liked, quickly-selling
product.
It's highly
likely that two or more customers will click the "add to cart" button
at the same time. Amazon wants to make sure that buyers aren't let down by
discovering that an item has been sold out after completing the checkout
process. Additionally, keep in mind that maintaining an accurate inventory is
crucial to preventing clients from purchasing goods that you do not actually
stock. Your chances of winning the Buy Box will decrease and your Amazon seller
metrics will deteriorate if this occurs.
It's
possible that you're juggling your primary FBA project with your side projects.
Luckily, some creative people have figured out how to professionally automate
this for you.
Counting the
remaining products in your warehouse is no longer a concern.
6. AMAZON
FULFILLMENT (FBA)
If you are
an Amazon seller, I have a good feeling you are familiar with this word. You
are providing your consumers with the top-notch customer service of Amazon by
having them handle both the shipping of your merchandise and customer support.
While it
can't assure you of getting the Amazon Buy Box, FBA can offer you a significant
advantage. You would have a competitive advantage over other sellers thanks to
this.
Read More:
Program Strategies for Amazon Virtual Product Bundles to Increase Sales
Retail Media Networks: A Comprehensive Handbook for Sellers and Brands
Boost Your E-commerce business With Revenue-Based Financing!
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