For any Amazon seller, the Buy Box is where you want to be.
That’s where nearly all the sales are made, and you want to do everything you can to avoid mistakes that could tank your efforts to win it, resulting in a huge drop in sales.
So what are these Buy Box mistakes you should be avoiding?
Read on for 7 of the most important mistakes you really don’t want to make to help you run a successful business.
- There are many mistakes that can hurt your chances of winning the Buy Box or making the most of being the Buy Box winner.
- From not being eligible in the first place to failing to implement a repricing strategy, these can all hurt your efforts.
- Make sure you’re avoiding these mistakes, and give your sales and profits a boost.
Mistake #1: Not Being Eligible
The first and biggest mistake is simply not being eligible for the Buy Box in the first place. If this happens, you won’t stand a chance of winning it, no matter what you do.
How can you know whether you’re eligible or not?
You can find the information in your Amazon seller account under ‘Manage Inventory’ and ‘Preferences.’ Just select to show when you’re eligible and you can see when you have Buy Box eligibility for your different listings. You may find that some products are eligible while some are not.
There are several reasons why you may not be Buy Box eligible. It could be that you have a low seller rating or that you’re a new seller.
You need to meet the minimum requirements to be eligible. If you don’t have a Professional Selling Account or you have a high Order Defect Rate (ODR) or Cancellation Rate, these can all affect your eligibility.
If you’re not eligible, take action to become eligible. That may involve waiting if you’re a new seller. But in other cases, work out what you must do to become eligible, and don’t miss out on claiming your place in the Buy Box.
Mistake #2: Charging Too Much
If there’s any one thing that you want to be doing to win the Buy Box, it’s to make sure you’re competitive.
If you’re selling your product for a price that Amazon determines to be uncompetitive, you’re not going to have an easy time.
The main thing you want to avoid doing is setting the price of your product above the price of other online marketplaces, which Amazon hates.
Remember, Amazon wants products in the marketplace to be the lowest on the internet. If you go above this price, you may not stand a chance of winning the Buy Box.
Make sure you know the list price published in Amazon’s catalogue, also called the manufacturer’s suggested retail price (MSRP). Don’t go against Amazon’s Fair Pricing Policy and make sure you’re selling the product at or below the list price to get the Buy Box.
Mistake #3: Failing to Use Repricing Software
At the same time, you need to be competitive against the other sellers.
You may all sell below the list price, but you could still fail to win the Buy Box if you don’t compete on price with other sellers.
But sellers change their prices all the time, and keeping up with it and reacting accordingly is almost a full-time job.
That’s where you need to use repricing software like Repricer.com to help you compete.
It does all the hard work for you, keeping track of your competitors and reacting when they change their prices.
You can set a minimum and maximum price, and you can set rules for how it should react in different situations.
Getting your repricing strategy right is one of the best things you can do to win the Buy Box consistently, and using repricing software will give you a big advantage over your competitors.
Mistake #4: Failing to Make the Most of the Buy Box
Another classic Buy Box mistake is failing to make the most of it when you finally hold it.
It’s easy to think that the job is done once you win the Buy Box. You’ve done the hard work, and now you can relax and watch the sales roll in.
But smart sellers go one step further and maximize their position as Buy Box holders to increase sales while they’re in a great position to do so.
Again, this involves using automated repricing software.
Repricer.com, for example, has a feature where you can set it up to actually increase the price of your product when you win the Buy Box.
You may have reduced the price to make it more competitive in order to win the Buy Box, but now that you’re the holder, increasing the price can sometimes make sense.
Because you’re in the most dominant position, more people are seeing your product and buying it. As such, setting a higher price will lead to more profit.
You can set Repricer up to incrementally increase the price, and it will continue to do so until you lose your position as the Buy Box winner.
You’ll now have valuable data about the maximum you want to charge before you lose the Buy Box. All of this can help you to improve your strategy and increase profits.
Mistake #5: Always Keeping Your Price Low
Price is a big factor in winning the Buy Box. All things being equal, a lower price will help you to win it—but that doesn’t mean you should always compete on price.
There are situations when you should be increasing your price and still win the Buy Box.
Like when your competitor runs out of stock. You can take advantage of this because they become ineligible for the Buy Box and you can win it even if you’re charging more than you normally would.
This is another area where using repricing software can help.
As soon as your competitor runs low on stock, it can react based on the rules you set and increase your prices. That way, you can instantly start making more profits on each sale and still win the Buy Box.
Mistake #6: Not Providing a Great Experience
One of the biggest mistakes of all is simply not putting the effort into providing your customers with a great experience.
It’s easy to focus on the details, like the pricing of your products. But if you don’t put the effort into the whole customer experience, you’re going to struggle to win the Buy Box in the first place.
So what does this mean, exactly? Because if you don’t provide the best experience possible, your Buy Box chances go down.
Check your account metrics regularly and make sure they’re good in Amazon Seller Central.
Here, you can see your performance across several areas. This allows you to spot issues early and fix them to ensure you maintain your good reputation so you can continue focusing on areas that impact your Buy Box efforts.
Your seller rating should be high, and you can quickly see areas where you may be able to improve.
Your customer response should also be efficient. You need to be getting back to customers quickly. Amazon customers hate it when sellers don’t respond quickly, so aim for 12 hours or less, and never wait over 24 hours.
You might want to use third-party software to help you keep on top of your customer service.
Focus on keeping your customers happy. Replying quickly is one way to do this, but remember that Amazon is completely focused on customer satisfaction.
Resolve problems with your products. Check your reviews and see if any issues are coming up regularly that you can solve. Check the Order Defect Rate and do everything you can to reduce it.
You should also make sure you provide fast shipping to your customers and low shipping costs. Slow shipping times can hurt your Buy Box efforts.
Use FBA if you’re not already. Choosing Fulfilled by Amazon is one of the best ways to help you win the Buy Box.
When you run an Amazon FBA business, Amazon knows that orders will be sent on time, and it also makes you eligible for Prime shipping.
If you’re using FBM, you’ll need to do more to win the Buy Box. It’s still possible, but you might want to try FBA instead if you’re not getting the results you want.
You should also focus on getting more reviews. Providing a great service is the most important way to get positive reviews, but make sure you request reviews using Amazon’s feature.
Use review automation software to handle this for you and make sure you give customers a nudge. This can make a big difference to your overall reviews.
Mistake #7: Mismanaging Your Stock
Finally, make sure you practice good inventory management.
One surefire way to foil your chances of winning the Buy Box is if you run out of stock and you become ineligible.
Keeping items in stock consistently is a good sign for the algorithm. It shows that you can handle a sudden sales increase if you suddenly win the Buy Box, and that you won’t run out of stock right away.
There are third-party tools you can use to help with inventory management, and there are several free inventory management tools in Seller Central for FBA sellers so you can manage inventory efficiently.
For example, you’ll get an alert from the inventory performance dashboard when stock is running low, and you can get suggestions for optimum inventory levels. You’ll also find information on sell-through rates and recommended actions.
Maintain good relationships with your suppliers in your online business, and keep a close eye on your sell-through rate. Always restock quickly, and if inventory is getting old, run promotions to speed up sales.
It’s a big area, but it’s important for your Amazon eCommerce business as a whole and for improving your Buy Box efforts.
Avoid These Mistakes to Up Your Buy Box Game
Starting an Amazon business can involve a steep learning curve, but winning the Buy Box is one area you want to focus on. It’s so crucial for Amazon sellers that it’s not something you want to leave to chance.
You need a strategy that you can implement to boost your chances of winning the Buy Box consistently if you want to increase online sales and boost your profits.
These mistakes can all get in the way of winning the Buy Box or maximizing your sales and profits when you hold it. So do your best to avoid them.
Many sellers make the same mistakes over and over again, hurting their businesses. Don’t be one of them.
Go over the mistakes in this list and get a plan in place to make sure you’re not making them. Then improve your chances of winning the Buy Box on a consistent basis and reap the rewards.
Don’t lose the Buy Box with poorly optimized pricing! Set your repricing on automation and win more Buy Boxes with Repricer.com. Sign up today for a 14-day free trial.