The Number One Reason Sellers Fail on Amazon FBA: Don't Do This If You Want to Be Successful!
It's the Zab Twins, and today, we're super excited to reveal the ultimate reason most sellers quit Amazon. But before we discuss the nitty-gritty of avoiding bad sales habits on Amazon, we're sure you're wondering why you should listen to us, right?
The Zabriek duo are professional e-commerce coaches dedicated to ensuring people have the opportunity to build a successful business. With our specialized expertise in growing and scaling companies and years of experience growing our brand, we can confidently say the Zab Twins are all you need to become successful on Amazon FBA.
It's no secret: not everyone who joins Amazon FBA gets successful. But the bad news is that 83% of sellers quit within five years, and 44% reveal over $5000 lost sales within a year. If you don't want to be that person, it's time to up your Amazon FBA game and acquire the right skill set.
Today we'll unravel the top reason most first-time sellers fail to achieve profitability on Amazon and how you can succeed. In this YouTube video, you will find why Amazon sellers quit without earning six figures.
The Number One Reason So Many People Fail On Amazon and How You Can Avoid It
Consumer behavior is constantly evolving, and these changes drive alterations in the business world. Amazon is no different: there has been incredible profit growth as buyers shift to online platforms and an increased need for omnichannel to improve customer retainment as buyers become less brand loyal.
As Amazon's landscape transforms, so do the strategies to create a profitable brand. If you enter the e-commerce market to serve everyone, you will not succeed. Instead, you need to ask yourself who your ideal customer is and what you're doing differently to stand out from the 3700+ Amazon sellers joining daily. If you don't, you'll quickly disappear in the sea of aspiring newbies clamoring to make their voices heard.
Not sure how to get started? Lucky for you, we've got a four-step foolproof plan to help you become one of the 31% of people who create a profitable Amazon business within six weeks!
Understand Your Target Market
Amazon has over 9.7 million sellers worldwide, which means competition is tough.
As a private label seller on Amazon, your goal is to use tools like Helium10 to find a high-quality product with high demand and a positive ROI. But when you choose an item with an existing market, you also have to find a way to stand out from the crowd.
For instance, if we search for "Garlic Press" on Amazon, we'll notice over twenty-five product listings. That means we now have to find a way to drive this traffic to our product listing. But how can you motivate the customers to choose you instead of your competitors?
Simple: by identifying who your target buyer is and how your product meets their demands. Once you find an item that sells well on Amazon, you need to add a unique twist to it to attract your ideal buyer. Continuing on our garlic press example, let's assume we're targeting people with muscle weaknesses. So, our goal will be to sell ergonomic products, easy to manoeuvre and not too rigid.
After that, you must ensure your product listing, images, and copies resonate with your ideal customer. Every aspect of your business, brand colors or tone, should connect with your target audience.
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Take Advantage of Customer Reviews and Facebook Groups
Once you identify your target audience, everything else becomes easier. Learning more about your ideal customer's pain points and challenges through customer reviews or Facebook groups.
We highly recommend asking your target market on F.B. how you can change an existing product to cater to their unique needs and whether they'll purchase it. As a result, you won't just introduce an item; you'll build a brand. When you're ready to start selling, you'll have a pre-existing consumer base excited to use your product.
Foster Deep Relations to Build Your Brand
Amazon is a monopoly.
The platform collects your customer's data, but they don't share it with you. That means you have to foster an organic relationship with a buyer to gather information like email addresses that allows you to market at the back end.
Once you collate the correct information, you can reduce attrition by diversifying your product line with the products you're confident will suit your ideal buyer's needs.
Use Customer Feedback to Reiterate Your Product
Honing your target market and building a community on Amazon will promise you profitability. But that's not the end of your Amazon FBA marketing journey. Why?
Because the fact is that once your product starts selling well on Amazon, people will start copying you. And the new sellers that imitate your item will sell it for a lower price, thus making it a commodity.
That's why it's essential to keep asking your customer for feedback. Use every review, whether it's a positive or negative one, as an opportunity to improve your product to enjoy retaining customers and a better profit margin.
The Bottom Line
What about you? Have you identified your target audience? How will you differentiate yourself from your competitors? You need to answer these questions today if you want to succeed on Amazon FBA.
The key to winning at Amazon FBA is remembering polarity equals popularity. So, the more focused your target audience is, the better you can scale your business. All you'll need is a winning product that's already doing well on Amazon and the ability to tailor your product to your ideal customer.
If you need help identifying your target audience on Amazon FBA, you can always reach out to the Zab Twins here. If you want to polish your Amazon marketing skills, you can visit our YouTube channel or blogs.