There are a lot of moving parts in an Amazon FBA business. If you're the one in charge, it can be difficult to ensure that everything is running smoothly. However, optimizing your Amazon store is crucial to increasing its value. This is especially important if you're considering selling in the near future. While FBA buyers do look for potential when considering a business, they're more likely to choose an Amazon FBA business that's already reached a certain level of success.
So what can you do for FBA optimization? Hopefully, you've done the straightforward things like taking good product photos and writing compelling descriptions. But there’s a lot more to it than the straightforward. That’s why we've compiled this FBA optimization checklist of less-intuitive processes. It can help you make sure you're doing everything you can to put your business on the path to success.
1. Create Your Own Platform to Curate Customer Data
Building a business on Amazon is great because you have instant access to millions of customers across the globe. That said, it does limit you in the collection of customer data. Reaching customers is one thing, but maintaining consistent engagement is difficult because there isn't an intuitive way to build your own database of customer information. While you can use export tools that let you grab some of this information, one easier way is to build your own platform.
This involves creating a website to let your brand shine on its own. While you'll still do the actual selling on Amazon, this website can act as a landing page for customers interested in learning more about what you have to offer. It can allow you to better define your brand, create informative blog content, and even curate customer emails for newsletters.
Not only does this give your products more authority in your niche, but it also gives potential customers an easier way to find you. They may be searching in Google for a specific solution, and if your website is SEO optimized, it should appear among the top results.
2. Apply for Trademarks
One thing many sellers forget to do is trademark their brand name and products. They get so caught up in the allure of a quick sale that they don't realize the vulnerable position this puts them in. If another brand steals their name and gets it trademarked first, the original seller may be legally forced to shut down operations or change their business's name.
To begin, you should register your brand and any specific product names with the U.S. Patent and Trademark Office. This process can take a while -- anywhere from 13 to 18 months -- so give yourself plenty of time, if possible. Keep in mind that these registrations are only valid in the United States, so if you plan on selling internationally, you may need to file additional trademarks in other countries.
Once you've established your brand as legitimate, you'll also want to file for brand registry on Amazon. That way, you'll be able to stop competitors from trying to sell counterfeit duplicates of your products. If you catch a fake product, you can let Amazon know and it will suspend or delist the counterfeit account.
3. Forge a Stable Supply Chain
Your supply chain is the lifeblood of your business. Without a stable means of obtaining products, your business could quickly go under. That's why it's essential to have a supply chain that's secure. You can have peace of mind that you won't run out of your most popular product or disappoint your customers with lackluster quality. And there's value in that -- 57% of companies think that their supply chain management gives them an edge on the competition.
This is an especially important thing for an FBA buyer to see. They'll want to know exactly how your supply chain works so they can see how much of a risk your business is. That's why, even if you have a great relationship with your supplier, you may want to have a backup supplier in place from a different country.
This acts as a great emergency line if trading relationships are restricted with any particular country. You'll have a secondary supplier ready to go so your sales don't suffer, like the 28% of professionals who suffered product shortages in 2020. These can be make-or-break moments for many businesses.
4. Establish a Social Media Presence
We already mentioned trademarking your brand and establishing your presence with your own website. The next step in the process is establishing a social media presence. Many consumers rely on social media to build relationships with brands, seek customer service, and get product recommendations. Trust is more important than ever among buyers, as one survey found that 67% of buyers won't continue to buy from a company unless they can establish a sense of trust.
One way you can build this trust is by being authentic and relatable on your social media pages. A further 86% of consumers desire authenticity in a brand, and social media is one way to establish that. In particular, Instagram and TikTok are two important tools for reaching younger audiences. Brands can use things like in-feed videos, landing page ads that load when a user opens the app, and even branded augmented reality (think filters and stickers) to popularize their presence. And 90% of TikTok users visit the app at least once a day, meaning you have plenty of opportunities to reach new audiences.
5. Outsource Things You're Having Trouble With
As the head of your FBA business, you're probably used to doing everything yourself. But it may be time to take a step back, evaluate your business, and acknowledge that you're not a superhero. Even if things have been going great so far, you can't do everything on your own -- and that's perfectly fine. Outsourcing may be a way to improve your operations so you can build your business even more. You can use freelancing sites like UpWork to get someone to help you on a part-time or gig basis. It might also make sense to hire a virtual assistant that can remotely manage things for you.
We suggest doing a business audit to see areas where you may be struggling. Is marketing not your forte? Could you use more help with inventory management? Pull in part-time freelancing experts to assist you in these matters. That way, you're not committed to another full-time employee, but you're still getting valuable insight on ways to improve.
Increase Value Now So You're Ready to Sell Later
Taking advantage of these FBA optimization tips can help your business stand out among the pack. They can also make your business that much more lucrative to a buyer. Buyers want to see businesses that are smartly managed and thoughtfully optimized rather than successful but with no plan. Optimized stores are more likely to stay successful over a longer period of time, making them a better investment.
Even if you're not ready to sell now, going through Amazon optimization steps can help make sure your store is prepared when the time comes. And when you're ready, Boosted Commerce will be here to help. We're a boutique FBA buyer that offers a personalized experience every step of the way. Our experienced team provides support before, during, and after your sale so you'll be ready to begin a new chapter of your life.
Whenever you're ready to explore your exit, feel free to get in touch. We'd love to learn more about what you've built to see if we can offer you a win-win opportunity!