At MrPrime.com, we specialise in helping big Amazon accounts with hundreds or thousands of products.
These accounts face unique challenges.
Stock management
Product tracking can be a nightmare. Preventing out-of-stocks on key and profitable lines can be difficult when juggling so many products. Even tracking the lost revenue from these out-of-stocks isn't easy, as the lost sales slip through the cracks. Stock outages eat away at annual profit more than anything else.
Brand management + full product representation
It is impossible to fully optimise 1000+ products to the level you could achieve with, say, under 10 products.
We often see brands that are poorly represented on Amazon. And yet, with just a few elements, we can alter the entire brand appearance and professionalism on Amazon -- adding a brand story, A+ content, and thumbnails that apply to the brand and more scalable items.
Knowing what you can do -- and economies of scale -- is key. We use 80/20 logic to identify how best to impact a wide range of products.
ROI (Return on Investment) tracking
Measuring the ROI of each product/category isn't easy when you have many products. We try to identify the top ROI source -- and the top X amount of products that contribute to the most sales and ROI.
We then have a logical starting point to do the most optimisation and growth work. We put more focus onto the products that already sell, for obvious reasons.
YOY (Year on Year) sales tracking
YOY data is available on Amazon, but it is very broad and vague. You can see, for example, that your Amazon business is 20% down YOY. But can you identify easily, at a glance, where the drop happened and why?
We have created software that does exactly that. Meaning you can react to drops the day they happen -- rather than end-of-quarter. You can see, at a glance, where drops or increases happened -- and which skus were involved We can then drill down deeper and find the cause and rectify it.
Advertising efficiencies
We use software that can maximise efficiency of ads and run ads at a high Return on Advertising Spend (ROAS). We drill down deeper into the key products advertising-wise -- but can run large campaigns effectively in tandem.
Focus: Where to focus amid 1000 products?
We strip things down with our expertise and software. We use the data. Establish top sellers -- and also key actions we can take on the account -- to increase revenue quickly. We are able to see the forest from the trees.
Increasing price + managing price changes
Editing prices can be notoriously difficult for companies using vendor central and seller central. Amazon often stops these increases by taking away the "buy box" which effectively kills sales on that item. In a world where expenses of doing business -- and inflation -- are increasing, Amazon does not often let you increase pricing to reflect these real-world changes.
This can mean low margins and high turnover, which is the worst way to run a business on Amazon.
We work with clients to find workarounds to this -- bundling, new skus and other methods to trigger price increases, the key to profitability.
Monitoring your account's health issues
Again, when you have hundreds or thousands of products, keeping on top of account health is hard. Suppressed listings, complaints, late shipments, price issues, Amazon Terms of Use (TOS) issues, and more are rife.
We have a proprietary account health tracker which allows us to alert you of these issues as they happen.
There are hurdles with big accounts, but these accounts also have big advantages
Large amounts of data
You're generating huge amounts of data on Amazon when you have thousands of products. Conversion rates, sessions, total sales, business sales, and more. We can break down this data which provides new insight into new growth prospects and current positive trends.
You have cast a wide net -- and with our help, you can reap the benefit.
Cross-selling + AOV (Average Order Value)
There are nearly always ways to cross-sell products on large accounts. We can use multiple methods to increase cross-selling and AOV, which increases efficiency and profit.
Bundling + variation possibilities
By cleverly bundling good-selling products, we can create higher AOV skus. We can also examine variations to share reviews and increase conversions.
Low-hanging fruit
PPC campaigns have a super-high ROAS. Changes such as subscribe and save, small and light, fba/seller fulfilled and many more can transform an account quickly -- but you've must know the right steps.
Our Amazon clients typically have a business to run outside of Amazon. They don't have the time or expertise to break down their large accounts. As such, they are nearly always grossly underperforming.
A Real-World Example
Today's call with a new client prompted this article.
They currently sell £35k per month on Amazon across 700 skus.
In the first two weeks we:
- Identified the top seller in their space was selling £195k per month AND was 10 times smaller off Amazon than my client. In fact, my client used to supply them!
- Identified bundles that would immediately sell and would be cheaper than said competitor's offerings.
- Shared all the competitor's sales by sku (145 skus making up the £195k per month) which highlighted gaps in my client's offering.
- Put together a plan for the optimisation of all listings with brand story ideas and A+ content.
- Planned the whole growth strategy for 12 months.
- Set up account health and ROI tracking capabilities.
- Solved 5 other tech issues.
- Identified the top 5 things to work on in the next 2 weeks to grow sales.
As a surprise bonus, we also set up a favourite ad campaign that delivered the result shown below. This was just a bonus, really, and took us an hour to do. This campaign alone paid for most of our fees and was based on 8 days of PPC sales.
We believe this client will increase from £35k to over £300k per month over the next 6-12 months. They have every opportunity -- and we are a perfect fit to do it.
The reason? We look at accounts like this all the time -- and know where to focus.
If you have hundreds or thousands of products, and feel you have room for growth, drop me a message on rob@mrprime.com.
