Today, Amazon’s marketplace contains over 353 million products available for purchase. With so many items on the market, how can sellers decide which ones will be profitable?
Third-party sellers rely heavily on Amazon product research to make the best decisions when it comes to selling on the marketplace, which involves analyzing current market trends in order to select a product that brings an increase in organic sales. Conducting proper Amazon research allows you to launch successfully and bring in conversions.
Product research is critical for a successful product; however, one area that is maybe less widely recognized, particularly among Amazon sellers, is requesting feedback from your consumers. The world is changing fast, and so are the expectations of your customers.
Listening to your customers is a way to succeed. Without knowing the actual preferences, behavior patterns and needs of your buyers, it will be complicated to sell more and reach your goals. Feedback and interaction with your customers can become a turning point in boosting your effectiveness and driving revenues.
But how can you best get their unfiltered opinion? Testing might be an answer. Any big tech company uses test panels — in e-commerce and digital sales, the equivalent of this market product research is Rapid Microtesting.
In this blog, we will explain how you, as an Amazon seller, can easily apply years-old marketing tactics and strategies to your business. It involves listening to your consumer, a crucial marketing mechanism that is often overlooked but will bring you the results you’ve been dreaming of.
Why big companies use consumer test panels
Have you ever explored stats on how many people watch a particular channel or use a certain product? Any customer feedback and insights originate from a consumer panel, which is a sample of people that participated in marketing research.
A consumer panel for a dog food firm, for example, would be a group of dog owners who care about what they feed their pets. Consumer panels can be tailored to meet the demands of marketing research. It does not have to be everyone in the group; a smaller subsection that reflects the group as a whole suffices.
A consumer panel’s objective is to measure what customers enjoy and analyze their behavior. Companies will form a customer panel to choose which new items to launch or if a new recipe works or not. Some businesses utilize consumer panels to see whether a certain advertisement is effective before releasing it as a commercial or another form of marketing that requires significant costs.
How market research can boost sales on Amazon
Veteran Amazon sellers understand that the key to success on the platform is having the correct information to feed data-driven optimization choices, which leads to higher ROI.
Every large corporation and marketing guru understands the importance of validating a product with the target market. Large corporations like Unilever and P&G, as well as “great names” in marketing like Eugene Schwartz (Breakthrough Advertising) and Eric Ries (The Lean Startup), all believe that understanding your target market is critical to success.
So, to sell on Amazon successfully, you also need to validate your items before launch to save on your overall marketing costs and ensure high conversion rates.
Conducting a study on what to offer on Amazon will substantially assist sellers in achieving the earnings they seek. Sellers can be more certain that they have picked a product that will do well on Amazon if they conduct product research.
Doing this type of research may sound time-consuming. But what if it is the best way to identify your niche and understand how you can stand out from the competition? There are ways Amazon sellers can get quick and insightful user feedback, received in an Amazon-specific validating environment. This means sellers will be able to avoid the danger of making incorrect decisions and gain the chance of higher sales for the items they sell on the platform.
How Rapid Microtesting can benefit your Amazon selling strategy
Traditional methods take a lot of time, but because Rapid Microtesting is mostly digital, it is quick and easy for sellers. That is why it is vital to use customer validation on different sections of your listing to see which versions perform better.
So what is Rapid Microtesting? It is a custom system that uses a ready member base to quickly — in a matter of minutes — test various versions of your Amazon product listing to determine the suitable option.
Rapid microtesting is an excellent method for improving your Amazon listings by experimenting with product content, images, and pricing. It is basically an analog of panel tests, just in a digital world.
This technique allows you to learn what works best for your consumers, alter your listing accordingly, and gain insights to help you interact with your audience more effectively.
Using Rapid Micro testing is the most effective way to speed up your growth, enhance your organic CTR, and achieve excellent ROI. Intellivy simulates the Amazon buyer experience to create an ultra-realistic picture of how your product would fare in the real world. This is more than just another tool for improving Amazon listings.
As Amazon sellers ourselves, we understand how difficult navigating the competition can be. That’s why we decided to take matters in our own hands and form our own membership base to rapidly determine whether our ideas are marketable.
After years of cultivating our member base and fine-tuning our strategy, our idea — termed Rapid Microtesting — is now available to assist you with the marketing issues you face as an Amazon Seller.
The Intellivy member base comprises experienced online shoppers and average people. Our 300,000+ members are primarily from the United States. They provide their honest judgment and aren’t afraid to tell you where you can improve.
What you can do is formulate questions in a specific way, so the members who answer the questions can put themselves in the shoes of the actual consumer and come close to their experience.
After voting for the best image, members are invited to justify their decision in an open question. This provides you with detailed information that you can utilize to not only better your content, but also the product itself. It will assist you in establishing a solid basis for your Amazon brand, beating the competition, and increasing your CTR.
Looking for a robust tool to try? Check out the Intellivy solution today!