7 Ways to Grow Your Amazon Business in 2024

Uncertainty are just a few of the challenges sellers face in 2024.

But selling on Amazon is also a lot of fun. It’s fast-paced and constantly changing. Having the right strategies to grow your Amazon business can help you stand out from the crowd and make more money in 2024.

In this article, we’ll discuss a few of our favorite strategies to help you grow your Amazon business.

1. Start with a Strong Foundation

Your Amazon listings are essential to your success. Having a great product is useless if no one can find it. Building a strong foundation for your products will allow you to grow your Amazon business while avoiding unnecessary hiccups along the way.

Your listings need to be optimized for search intent while also addressing consumer questions. Include detailed product photos, descriptions, and videos. Make sure your listing content sets the right expectations for your product. Because shoppers can’t physically evaluate your products, your listing content needs to replace that experience.

Get fresh eyes on your listings to see what stands out to someone who isn’t familiar with the product. It might be worthwhile to hire a consultant or agency with expertise in Amazon listings to make sure your products are discoverable and appealing. Just make sure they follow all of Amazon’s guidelines.

2. Build Your Amazon Reputation

You also need to consider your Amazon reputation, both as a seller and for your products. Seller feedback is part of the Buy Box algorithm. Amazon also uses the metric to ensure that you’re delivering an experience that meets customer expectations.

Amazon product reviews function as “word of mouth” for your products. The average review rating is displayed alongside your product in Amazon’s search results; the difference between the conversion rate for a 4-star rating and a 4.5-star rating is powerful. Getting more reviews can increase your product’s visibility in search, resulting in more sales. As Amazon continues to roll out features such as AI-powered Customer Review Highlights, getting reviews continues to be essential to grow your Amazon business.

3. Highlight Differentiators

What makes your product the best for your target audience? Study your competitors’ listing content and Amazon reviews to see what they’re presenting to shoppers and what customers are saying about their products. What do customers love and dislike? Are there customer needs or concerns that are not met by the competing product? Solving those issues can help your product stand out. Make sure your listing content reflects your product’s strengths.

4. Register Your Brand

If you’re not already enrolled with Amazon Brand Registry, what are you waiting for? The program offers numerous features to grow your Amazon business. For example, Amazon Tailored Audiences allows you to send marketing messages to repeat, high-spend, and recent customers. You can build a branded storefront to showcase your products and use Amazon Posts to build and engage with your audience. Brand Registry offers detailed analytics where you can learn about customer shopping behaviors, searches, and more. Brand Registry also offers some protection against counterfeiters.

5. Manage Your Inventory Effectively

Driving traffic to your listings doesn’t benefit you if your products are unavailable. Have at least one backup plan in place for fulfilling orders if you go out of stock at FBA. In the age of social commerce, you never know when your product might go viral. Grow your Amazon business while ensuring that you can meet demand and scale as needed.

Amazon Warehousing & Distribution (AWD) has an auto-replenishment feature that can help you avoid stockouts. Working with a 3PL or using your storage facilities in addition to FBA can make it easier to stay in stock. No matter which method you use, it’s important to know when to contact your supplier to reorder. Having an effective inventory management strategy can help you avoid low-inventory storage fees as well as long-term storage costs.

6. Keep Your Account Healthy

Policy violations and listing issues can seriously impact your bottom line. Make sure you’re familiar with (and following!) Amazon’s seller policies, including the Seller Code of Conduct and Community Guidelines. Keep your Order Defect Rate (ODR) as low as possible and make sure you send shipments on time. Keep your pre-fulfillment cancellation rate below 2.5%. Respond to customer inquiries quickly and courteously.

Amazon doesn’t notify you when your listings are search suppressed, meaning they aren’t visible in Amazon’s search results. You can check to see if your listings are suppressed by navigating to Manage Inventory in Seller Central. If you see a link for suppressed listings at the top of the page, click on it to see which listings are flagged and to resolve any issues. One of the most common reasons listings are suppressed is failure to meet Amazon’s image requirements.

Getting alerts when there is an issue with your listings can help you move quickly and avoid lost income. SellerPulse by eComEngine sends email notifications for several listing alerts and recommendations for the next steps so you can get back to selling.

7. Expand Your Business

Having a solid foundation for your products and brand can give you the freedom to explore new ways to get your products in front of potential customers. A great way to grow your Amazon business is to try something new.

Is 2024 the year to try selling your product on an international Amazon marketplace? Maybe there’s an untapped market just waiting for a product like yours. Trying a new advertising strategy or experimenting with improving your listing content might generate great results. Think about offering Amazon coupons, Lightning Deals, or other discounts, such as brand tailored promotions.

What about selling on another platform in addition to Amazon? Building your brand in new markets can fuel Amazon business growth by providing more visibility off Amazon. Working with influencers might get your products in front of a new audience, or maybe it’s time to consider updating your catalog with new variations or complementary products.

Grow Your Amazon Business with eComEngine

Having the right tools and resources can make it easier for you to grow your Amazon business. eComEngine offers a variety of free educational resources including webinars and expert articles to help you make the most of Amazon’s features. Our software for Amazon sellers is designed to help you grow by getting more reviews, improving FBA inventory management, protecting your listings, and much more.