Amazon Prime Day 2019 – What You Need to Know

With just five days left until Amazon’s Prime Day 2019, here’s an outstanding article from bqool.com for third-party sellers (3Ps) on to take advantage of this highly unique mid-summer two-day sales event.

Amazon Prime Day 2019, one of the biggest ecommerce events of the year for both Amazon sellers and buyers, is making a return this summer 2019. The event creates plenty of opportunities for sellers to greatly boost sales and entice buyers to take advantage of many excellent deals on Amazon. Let’s see what we can do to get ready for Amazon Prime Day 2019.

What is Prime Day?

Amazon Prime Day is Amazon’s very own Black Friday, all the existing deals on Prime Day are available exclusively to Amazon Prime members, who can enjoy lightning deals, price cuts, and various types of promotions.

An official date for Prime Day has not been announced, but we can expect it to begin in mid-July this year based on the fact that it ran for 30 hours from July 16th through 17th in 2018.

Shoppers expect deeper-than-usual discounts and the best prices for products across nearly every category: electronics, home & outdoor, kitchen, TV and personal audio, smart home, and many Amazon’s house brands products such as Amazon Music, Amazon Fire TV Stick, Amazon Echo Spot, Amazon Echo. It’s never too early to start planning your shopping list by reviewing the best Amazon Prime Day deals of 2018.

How sellers can benefit from Amazon’s Prime Day?

According to a recent report, the amount of sales made on global Amazon Prime Day 2018 was nearly 4.19 billion U.S dollars, and more than 100 million products were sold during the event. Amazon Prime Day 2019 is no doubt a huge opportunity for all online retailers to maximize their sales.

amazon-prime-day-stastics

So how can sellers best prepare to convert Prime Day enthusiasm into sales?

  1. Inventory management

inventory-100

Make sure you are stocked up to meet massive demand on Amazon Prime Day 2019 to avoid going out of stock on popular items because this sales event will bring tons of traffic.

  1. Pricing and discounts

pricing and sales

Amazon Prime Day 2019 is all about deals, so if your pricing is not competitive enough, your Prime Day sales number may fall short of your expectations. Other than offering decent discounts or exclusive promotions, you can create a repricing strategy to adjust your prices based on your competitor’s prices with an automated repricer to protect your profit margins and beat the competition.

  1. Product bundling

The ultimate goal for many sellers on Prime Day is to increase total revenue. What better way to get more revenue than selling product bundles? Amazon sellers can encourage shoppers who have a hard time deciding what to purchase by offering product bundles as they are a good value for money.

Sellers can clear out slow-moving inventory by bundling less popular items with more sought after products. Most importantly, a product bundle can win the Buy Box easily because it is identified as a unique listing with its own ASIN. Your competition will have a difficult time listing against your product bundle so you can avoid falling into a price war with potential competitors.

  1. Promote your listing

You should also consider running your own promotion to make the most of Prime Day. Here are the three popular marketing strategies you should adapt to promote your listings to the top of the search results page.

  • Amazon Sponsored Products
    As Amazon’s Prime Day grows, so does the competition, and Amazon Sponsored Products is the best way to increase your product visibility and make your store rise above the crowd.
    Amazon Sponsored Products is a cost-per-click advertising program in the Advertising tab. If you are already using this program, you can consider increasing your advertising budgets to capitalize on the higher traffic in Prime Day.
  • Amazon SEO
    You should review and improve your product page for optimal product searchability and conversion to ensure your listing will rank in the top position on the search result page. Make sure you are using the right keywords for the product title, high-quality images, and clear yet informative product description. Here are some helpful tips for optimizing Amazon listings.
  • Off Amazon marketing measures
    Besides Amazon listing optimizations, you may want to drive external traffic to your Amazon product pages. Whether it is paid or non-paid channels, this approach can boost traffic, drive sales, improve your search ranking, and build a brand.

There is a number of options on how to drive external traffic. Some popular sources outside of Amazon are social media, emails, blog posts, coupon/deal sites, affiliate/influencer marketing, and even paid ads like Google AdWords and Facebook Ads, etc. Each channel has its own ways to communicate with the audience so you can create different ad campaigns to promote your Prime Day deals.

  1. Automate your review request emails

Automate your review request emails

The best time to get more product reviews is sending out review request emails during the biggest shopping event. While you are busy handling a high volume of orders during the event, sending a large number of review request emails to your buyers will likely overwhelm you. With the help of automated email software, you can save plenty of time on a review request routine.

  1. Offer Lightning Deals

lightning deals

Lightning Deal is a promotion that FBA sellers can participate to showcase their products with a limited quantity for a short time on Amazon. Since this is a limited-time offer that runs for up to six hours, it will urge shoppers to make an impulse purchase. Furthermore, Lightning Deals provide many benefits for sellers so that they can bring more exposure to their products or brands and clear out overstock and seasonal inventory. You will receive an email invitation if your products meet the criteria for a Lightning Deal.

Take advantage of Prime Day to drive sales and awareness

If you want to take advantage of Prime Day, the key to winning a Prime Day sale is preparation. We hope the above tips will work wonders on your preparation.

Good selling!

 

The Art of a Great Sales Pitch

Occasionally, I come across a post that provides valuable insight. This blog post from Tenfold is exactly that. Read on and learn!

Today’s sales ‘pitches’ are no longer simply a stack of information thrown at prospects.

Instead, effective sales pitches today are two-way conversations.

Listening to a prospective buyer’s wants and needs is as important as providing information about products and services.

Furthermore, asking follow-up questions, pinpointing their pain, and offering a solution that meets their company’s challenges will be more effective and more successful for both parties. Even so, preparation is key to the best sales pitches. They show the business knows their products or services well, understands the prospect’s business, and respects the prospect’s time.

How to Prepare a Sales Pitch

While preparation is a must, the pitch shouldn’t be over-practiced or robotic.

After all, people do business with people they like. Friendly and professional will get a salesperson far further than stiff and formal. In fact, a great first sales pitch should begin with a top-notch first impression. This is where the sales team can shine by knowing their products and services and how they will benefit the prospect.

Additionally, it’s important to keep in mind the multitude of things vying for everyone’s attention nowadays, and understand that keeping the audience immersed in the message is critical. The only way to do that is by having information that is relevant to the buyer and actively engaging them in the discussion.  Preparation takes work.

Due diligence

It’s safe to say that most services or products will not sell themselves, so crafting a pitch that will be fruitful requires more than just regurgitating data. A good pitch requires an understanding of the customer, which requires some stealthy research beforehand.

It’s important to be know about their company, their competitors, and their industry in general and and any trends. It’s also important to ask questions during the initial contact so that the message is tailored to meet the challenges the company faces.

Eliminate extraneous chatter and keep the buyer focused. Showing that you understand their pain points and how they can be addressed is the goal.

Share Vital Details

The research done on the company and their challenges pays off when they realize how well the product pitch fits with their pain points, and can visualize it solving their problems.

Best-selling author Guy Kawasaki calls this enchantment, and says, “Enchantment is the purest form of sales. Enchantment is all about changing people’s hearts, minds and actions because you provide them a vision or a way to do things better.

The difference between enchantment and simple sales is that with enchantment you have the other person’s best interests at heart too.” Customers respond best to those services or products that directly address a current problem or need that they have, so every sales pitch should be geared toward unique needs of the business being pitched.

How to Address Objections

Respectfully addressing objections is part of a good sales professional’s repertoire. The best salespeople anticipate objections that might arise and have responses to those at the ready.

There are four basic types of objections that arise: budget, authority, need, and time, with the acronym BANT.

Being prepared to discuss all four is wise, with the goal being to show value to the prospect. Budget objections can be countered with the amount of money that a product or service can save a customer. If a customer is currently using a competing product, it’s important to point out what makes the new solution different and better.

Listen carefully:  A fantastic pitch is great, but really hearing a prospect is even better. Being overconfident or sticking too closely to a script can be a mistake. Always let the potential customer do most of the talking and listen carefully to what they are saying. Responding with thoughtful answers shows they are being heard. This will go no small distance toward making their buying decision easier.

Ask for the sale: Listening to the buyer is critical, but asking for the sale after the presentation is even more so. Sales professionals need to take the lead and offer a call to action that is the next step – whether that is signing on the dotted line today, offering a trial period, or following up in three days. Never wait for the customer to “get back to you”. Failing to proactively address the call to action will result in fewer sales and more frustration.

How to Make a Sales Pitch

Bringing the prospect to the table for a presentation is in itself no easy feat; it takes nurturing and endless rapport-building to get a potential buyer interested in a product they might not even have known existed.

Never waste an opportunity. Always keep the pitch on-message and clear to keep a buyer enthralled with the service or product offering. Review the pitch repeatedly and cut until it’s lean and concise, and — especially — free of buzzwords that sound insincere.

Always keep in mind that the buyer’s attention is at a premium, with many companies and products vying to get a piece of it. The best product in the world will not make a bit of difference if they do not know about it.

Everything boils down to painting the picture of a better solution in the prospect’s mind. If they are convinced your product or service will make their life easier or better, they will buy. Never leave things to chance; carefully construct and finely tune every pitch for maximum results.

Push where it hurts, but gently

Solving the right problem for the prospect makes for a good pitch, an almost guaranteed sale, and lots of success. The pitch needs to gently poke the prospect’s pain points, reminding them why they need this service of product offering, and then laying out the benefits it will give them.

Poke a little harder

What happens if they don’t address the problem they currently have? If they are using legacy computers and need to convert to the cloud, how can they be convinced to move? Do they understand the maintenance costs of delaying? What about security issues and hardware obsolescence?

Use the setup

Get prospects ready for the pitch by pointing out problems with other solutions. Why aren’t visitors buying or calling? Where do their existing products or services fall short? What better solutions are out there and available to them?

Final Thoughts

When working with prospects, it is crucial to know how to perform a great sales pitch.

Being prepared by doing appropriate and in-depth research on the company, the industry it belongs to, and trends in the industry is the first step. In the meantime, building rapport with the potential prospect and ensuring that the buying partner is at the table is another key. Figuring out the company’s pain points and how the products or services fit into their challenge is the key to closing sales. Always, always ask for the sale, and if the answer is no, follow up relentlessly.

What tips do you have for better sales presentations? 

Good Selling!

Boost Sales With These Simple Content Marketing Tactics

Content and the Sales FunnelIf you are in sales, then you are use to answer your customer’s questions in a way they clearly understand.

They have questions. They have problems in their industry  industry and they want answers to their questions. You just talk to your customers as people.

Sadly, many marketers get too caught up in saying “buy my product” and forget they are talking to people and providing real, authentic answers.

One kind of marketing, however, demands that marketers provide real, lasting information. Content marketing can create a relationship between a company and its customers.

With content, marketers can arm salespeople to help customers successfully progress through each stage of the sales cycle. Through informative and unique stories, marketers and salespeople can together strategically boost sales and influence buyer behaviors.

Here are types of content to improve your sales and performance regardless of where in the sales funnel your customer is: