Cyber Monday is perhaps the most exciting time of the year, both for sellers and consumers. However, to ensure you make the most of this year’s Cyber Monday, there are a few things you should keep in mind. Below, we have created a list of some helpful tips for Cyber Monday prep:
- Look to see how close you are relative to an Amazon Fulfillment Center. If you have an Amazon warehouse near you, there is a chance you can still have it shipped in on time, and if not, at least you’ll have a jumpstart on the rest of the holiday season.
- Do not add holiday-related keywords to non-holiday items. Oftentimes, though this may help initially attract a potential buyer, they may end up feeling deceived once they realize the item has nothing to do with the holiday-related keyword.
- Learn from the past. Look back at your earnings last year. Was there something you should have done differently? Keep track of how your competitors do comparatively. There is data out there that you can use to your advantage.
- Strongly consider using coupons and deals, as mentioned in the last post. Bundle items that go together and try other methods that would draw a consumer’s attention.
- Be smart with your advertising. Generally, it is best practice to spend the majority of your advertising budget on your top 20% sellers, and then the rest of your advertising budget on the middle 60% of your products.
Black Friday and Cyber Monday, along with the holiday season, are the best times of the year for Amazon sellers, however, it is also a fantastic time to begin preparing for the future. Reach out to Ebiz Accounting to speak with a knowledgeable accountant about your future as an Amazon seller.
If you are an Amazon seller and require the assistance of an experienced Certified Public Accountant, please contact Ebiz Accounting for an initial consultation. We provide Amazon business accounting services to clients in New York and throughout the United States.