Having online marketplaces in 14 countries and shipping products worldwide, Amazon has quickly become one of the best virtual shops we have ever seen. But Amazon’s reach and ease-of-use are not the only things that make this online platform so popular. For customers, the variety of products, affordable prices, and shipping methods are the features that present a point of interest. But sellers are attracted to Amazon for entirely different reasons.
For starters, it’s relatively easy to start selling your product on Amazon. Although there are over 2.5 million active sellers on Amazon, the platform allows you to advertise your products and make them stand out in the crowd. More than half of the items sold on Amazon worldwide are from small or medium-sized businesses. It shows that Amazon is a significant sales channel for small and medium-sized enterprises. We haven’t even started to talk about revenue, yet all of the aforementioned reasons are enough to convince most businesses to start selling on Amazon.
Despite Amazon’s 14 marketplaces worldwide, it is still most popular in the United States, the place where it originated. If you too are a seller and you’re not convinced that adding or keeping your products on Amazon is the right thing to do, maybe you should participate in Seller Fest Online.
What is Seller Fest Online?
Seller Fest organizes events for local Amazon seller communities, and it’s currently focusing on teaching business owners how Amazon works and how you can get great results by using it. This year’s online event will take place between the 22nd and the 30th of September, and it’s going to be hosted by Augustas Kligys and Lisett Lees, both of which are experts when it comes to commercial transactions on Amazon.
The event has more than 45 Amazon experts ready to share their secrets, and it is going to be divided into six modules:
- Product Research, Development, and Sourcing
- Rank Higher with Keyword Research and Listing Optimization
- Product Launches, Marketing, and Driving External Traffic
- Amazon PPC
- Going International
- Business Management
Why Should You Participate?
We can provide at least two solid reasons for participating in this event. The first one is that Seller Fest Online is free of charge, and yes, you’ve read that correctly. You can get access to a lot of useful information and not get charged a dime. And of course, this leads us to the second reason, which is the information itself. A lot of the tips that will be shared here come from trial and error, mixed with constant research and documentation.
You will learn things that you could have only known if you would have experienced them yourself. You will be spared from making the same mistakes that the Amazon experts have made, and you will be provided with the secret recipes that will ensure your business’ success. So if you have a bit of extra time on your hands, we recommend that you participate in this event. Try out some new strategies that will help you grow your Amazon business and score more sales.
Our Take: How To Maximize Your Profits on Amazon?
Of course, as an influential and knowledgeable member of the Amazon sellers community, Adspert will also participate in this event. Our representative, Neza Skorc, is one of the many talented guest speakers. She will discuss profit maximization on Amazon, which is a topic of interest for most sellers we get to interact with.
The title of the discussion will be “Profit is the new ACoS” and give you an idea of what this seminar is about; here are some basics:
As mentioned, Amazon lets you advertise your products, and it gives you most of the tools you need to do so. And yes, you don’t necessarily need to advertise on Amazon. It is in your best interest to do so, especially seeing that getting a good organic result can take some time. So to start advertising on Amazon, PPC is the way to go. If you’d like to know more about PPC campaigns, you can check our article about them.
ACoS, short for Advertising Cost of Sale, indicates how efficient your ad campaigns are. Now, if you’re curious about how exactly ACoS can do this, then let’s look briefly at the formula it uses: ACoS is how much your business spends on advertising per dollar of revenue it makes. But ACoS doesn’t necessarily need to be low in order to maximize profits. Although ACoS tells us about the efficiency of the advertising campaigns, it’s not a clear indicator of the business’ overall results. For that, volume needs to be taken into consideration as well. During this presentation, Neza will demonstrate that. Profit is the key metric that sheds light on the overall business results and that profits are highest when the lowest ACoS is reached. If you’re curious to see the full presentation, make sure you check out the Seller Fest event.
Originally published at https://www.adspert.net on September 22, 2020.
