Getting Cyber Monday Right
Not only is Cyber Monday the best day to score deals for consumers, but it’s also the most competitive and potentially the most profitable time of the year for Amazon sellers.
High sales periods bring all kinds of pressures to online sellers. If you don’t properly prepare for high client activity volumes, any part of the sales process can go wrong.
To help you have a great Cyber Monday, we’ve put together a checklist to help you prepare for the biggest day in the eCommerce calendar.
Know Your Stocks
Cyber Monday hasn’t peaked yet and you’ve already sold out of your top products? This won’t happen if you’re well prepared. If you want to maximize profitability this Cyber Monday, make sure you stock your best-selling products in inventory.
To do this in a cost-effective manner, analyze your current inventory, reduce orders for your lowest-selling products, and focus resources on your most frequently sold and highest-priced products.
Understand the policy
Make sure you are using this great marketplace of Amazon in the right way. Stay informed and on top of Amazon policies. If your account is suspended in the build-up to Cyber Monday, your channel may not be restored in time. Consistent sales and reputation are important factors in being well positioned on Amazon on Cyber Monday.
Get the Buy Box
Do you have a strategy in place to target the Buy Box for Cyber Monday? Impulse purchases will be at their highest. Consumers will make purchases on mobile devices. The Amazon mobile app has no suggested alternatives next to the Buy Box — and once you win, it’s completely uncontested. If the Buy Box is gold, the mobile Buy Box is platinum.
To win the Buy Box, your prices must be competitive. It is difficult to keep prices competitive across all products.
Amazon Logistics Method
Fulfillment by Amazon brings huge sales advantages to your products.
Set higher prices than your non-FBA competitors and still win the Buy Box because delivery fees are factored into the total cost.
Get access to Prime subscribers - the premium Amazon shoppers.
No shipping or returns stress. Amazon has it covered.
FBA does charge marketplace fees, but you save a ton of time, allowing you to focus on the most important business activity – driving sales.
Support your customers
With so many great deals available in one day, customers are going to have questions. How good is this camera at night? Is this laptop powerful enough for gaming? How long will it take to receive this product?
Customers want answers, and they want them quickly. The faster you provide quality support to customers who interact with your channel, the more likely they are to make a purchase. Give them the support they deserve.
One of xSellco's core passions is making seller support a breeze. We built xSellco Fusion to allow online sellers to manage customer communications from multiple marketplaces in one simple dashboard.
No payment, no sale
The last thing you want on the holy grail of online shopping is a problem with the payment process. Keep an open dialogue with your bank to ensure you stay on top of your financial crunch and avoid any unpleasant surprises in the run-up to Cyber Monday.
Also, stay on top of Amazon policies to avoid having your account suspended. If your account is closed, you cannot make sales (see point 2).
Positive feedback means more sales
A good deal, scarce supply, and only available for a limited time – it all adds up to one thing: an impulse shopper decision.
With more than 40% of all online shopping traffic coming from these convenient mobile devices on Cyber Monday 2014, impulse buying decisions can now occur at any time.
Impulsive shoppers spend less time researching products, which makes your review as an Amazon seller even more important.
Getting a high seller rating on Amazon is not always an easy task. But one of the goals of the xSellco team is to help you use feedback to improve the ratings and sales of your business.
