If you could tap into one of the fastest-growing and biggest potential in Amazon… would you do it? What if you did not have to source new products and suppliers to make this happen? Amazon Business is the opportunity you’ve been looking for. Over the past two years, the Amazon B2B program has quietly grown from 1 Billion to over 10 billion. This is just their start.
It is easy as a brand or seller to overlook programs that are right in front of us because we do not have the insight with what is important to Amazon’s internal goals. The Amazon Business programs present the greatest opportunities to grow your sales on Amazon today and over the next 5-7 years.
What Is Amazon Business?
It is the same platform that customers are accustomed to with a separate entry and additional business features and products. It is a filter that companies can use to buy products from other businesses with the same confidence and easy-to-use experience they are already used to. Companies that purchase products with an Amazon Business account can benefit from bulk quantity discounts, tools for managing accounts like Guided Buyer Blocking and Spend Visibility Policy Adherence Dashboards, and the ability to request quotes for bulk buys. What makes the Amazon Business platform exciting for your growth is not just these features but the marketplace growth potentials.
The numbers according to Amazon:
55% of Fortune 100 companies buy
PLUS 50% of the largest 100 US Hospital Systems
PLUS 40% of the top 100 largest local governments.
Why Does Amazon Business Matter To Your Business?
B2B buyers embrace digital-first purchasing. Businesses shop the same way that they shop as consumers. A new generation of customers are comfortable shopping online and skipping the trips to retail locations. According to Amazon, they are connecting millions of business customers and sellers worldwide. Amazon Business serves sole proprietors to large enterprises with tens of thousands of employees on a single account. We serve millions of businesses worldwide, including hospitals, universities, Fortune 50 companies, government agencies, daycares, restaurants, and more. Seller certifications for your business like local, minority or women-owned businesses can help you find more customers in the business markets who need your products. Think of Amazon Business as the introduction to small businesses and government buyer. Do you sell internationally? Amazon Business is live in Canada, United States, Germany, United Kingdom, France, Italy, Spain, Japan, and India. Amazon business will keep growing and you need to be part of this growth.
How Do I Get Started In Amazon Business?
Sign up for an Amazon Business Selling Account. The suite of tools will enable you to reach millions of business customers using the trusted Amazon experience. This program is free to existing Professional Sellers.
Create a Business Profile. Tell your unique story. Add your quality certifications and diversity credentials for customer viewing to help you stand out from the crowd. Adding certifications enables Amazon business customers to search and filter for small and diverse sellers.
Set up your products. The simple listing tools can be used to add your entire catalog. The Enhanced content features for business offer the ability to display additional product information to your customers. There is NO LIMIT to the categories that can participate.
B2B Central. These links will help you understand, manage and grow your Amazon Business Sales.
Use Pricing Wisely – Discount pricing does not need to break the bank. Consider setting your first level business discounts as natural case packs of your products to reduce your costs in processing and shipping.
Negotiated Pricing – Do you have customers who are buying on a standard discount price list that are small and could benefit from utilizing the Amazon portals? You can set these for your customers and let Amazon Business handle these sales for you with “Negotiated Pricing”.
Respond to Business Quote Requests – Set quantity discounts by the response to dates to increase your chances of winning the initial and future sales. This price discount will be available to all business customers.
Create Business – Only offers that are exclusive to Amazon Business customers and are not seen by the typical Amazon consumer.
What do you have to lose? Amazon Business is good for your business, so get involved in this opportunity today.
The Prime Guidance Team can help you and your team develop a strategy for Amazon Business. Contact Prime Guidance today or speak to your Consultant for the great sales opportunity available with Amazon Business.
Video Engagement Metrics:
Videos have always increased conversion rates on Amazon in Seller Central but now Amazon is finally revealing the metrics to support it. As of February 26, 2020, the viewership metrics for your videos are now available for viewing in the Video Management Library. Amazon sellers are able to track your views and review your engagement data in order to create influential content towards customer purchases.
Starting on March 15, 2020, Amazon will start requiring a long-term storage fee for inventory clean up. For further details, see FBA long-term storage fees. According to Amazon, “If you remove units of an ASIN that would be subject to long-term storage fees at the next inventory cleanup date, you won’t be able to send us more units of that ASIN for three months after that date. The exception is your inventory of that ASIN falls below our projection of its sales for the next eight weeks”