As an online retailer, you may be wondering how to compete with Amazon. The truth is, Amazon’s business model is more complicated than most. Despite this fact, the company continues to be a retailer to emulate and beat. In this article, we’ll look at some of Amazon’s key marketing strategies. Here’s a summary of some of the most important strategies to keep in mind. After reading this article, you’ll be well on your way to setting up a successful retail business.
First, it’s important to keep in mind that Amazon generates 50 percent of Black Friday sales. When launching your own promotions, make sure you do so during these peak shopping periods. Whether that means running limited-time sales on your products or hosting a product giveaway program, these promotional campaigns are sure to generate brand awareness and generate buzz. Amazon also provides an extensive suite of marketing services. Listed below are some of the most effective ones:
Reviews are a critical part of Amazon’s retail marketing strategies. Consumers trust online reviews 12 times more than product descriptions, and 80 percent of users cite reviews as a primary reason for making a purchase. Additionally, a product with at least 50 reviews will increase purchase rates by almost five percent. The average Amazon order value is around $800, so incorporating reviews into your marketing strategy is an essential way to increase your profits.