Amazon Launches New Coupon Promotion for 3P Sellers
More exciting news for sellers! Coupon promotion that used to only be available for vendors is now available for 3P sellers. Coupon promotion offers greater visibility and powerful targeting options that could set sellers apart from their competition. Coupon clipping is a very handy tool to attract new and repeat customers – when discounting fits into your overall strategy.
Here’s what the coupon promotion looks like once you have created it,
There are a few benefits sellers can reap from running coupon promotion. These coupons appear on Amazon’s search results, meaning your coupons could get more impressions which could lead to more sales and profits. Looking at the image above, the coupon badges stand out more and will catch the attention of potential customers when they are scrolling through search results. Most importantly, coupon promotion can be run to target specific audiences. I will explain further below.
5 Steps to Creating Your Coupon Promotion
Step 1 – Navigate to ‘Coupons’ Promotion.
The first step is to navigate to the ‘Coupons’ promotion under the Advertising tab in seller central.
Step 2 – Add Products to Coupon
The second step is to add products to your coupon; and according to Amazon, you can add up to 50 ASINs to an individual coupon. Once you have typed in your product’s ASIN and added it to the coupon, click the ‘Continue to next step’ button to proceed to the next step.
Step 3 – Enter Discount Amount and Set Budget.
You have options to either set a percentage, or money off the coupon. From a promotion perspective, if percentage off of the product price is lower than the money off then I would suggest using the money off instead. For instance, if you are planning to give out 10% off your $20 product then instead of running a 10% off coupon I suggest running a $2 off as that sounds more appealing from a consumer’s perspective.
Also, you have the option to limit the coupon redemption to 1 or more per customer. You will need to insert your budget for the promotion. Your budget will be shared among the following 2 costs and your coupon will be deactivated when it reaches 100% utilization:
- USD equivalent of the discount you are offering
- Fee of $0.60 for each redemption
Step 4 – Enter Coupon Title, Targeting Option, and Schedule Promotion
Next, you need to enter a title for your coupon promotion. Choose a title that accurately describes your product for an effective promotion. For instance, “Save 10% on probiotics for dogs”.
The best part of coupon promotion is being able to select your audience targeting options. Here are the options you can choose from:
- All customers
- Amazon Prime members
- Amazon Student members
- Amazon Mom members
- Customers who have viewed certain ASINs
- Customers who have purchased certain ASINs
Pro Tip: With the targeting options, you could target customers who have purchased from your competitors or viewed competitors’ products. A great strategy you could run is to split test coupons for individual best-selling products and see exactly how they perform, then roll out coupons across other products.
Your coupons expiration period can extend up to 3 months and it’s entirely up to you to schedule your coupon promotions.
Step 5 – Review and Submit
The final step is to review all the information and submit it for approval.
This is another advertising opportunity for sellers to run. Keep in mind that if you are not getting traffic and visibility on a listing, then your coupon won’t matter. Customers won’t be able to see your coupons if they can’t even see your products. You need to combine this strategy with Amazon PPC to generate more sales. Test this strategy and comment your thoughts below.
Amazon Influencer Program Opens To Social Media ‘Stars’
Amazon recently launched their Amazon Influencer Program, a service that allows social media personalities to earn commissions on the Amazon products they promote. Social media stars with a qualifying YouTube, Instagram or Twitter account can join this program to earn extra income.
What’s great about this is that influencers get their own page on Amazon with a URL to showcase the products they recommend to followers. This is an additional way to direct traffic to Amazon, which is especially useful where hyperlinking isn’t possible (e.g. such as an Instagram caption).
Applications are vetted by Amazon of course, taking into consideration: size of influencers’ following, their audience engagements on posts, and quality of content shared on their accounts.
So how can sellers benefit from this?
Partnerships with any of these influencers could potentially drive tons of traffic to your product listing of which will increase sales and profits.
The $100 billion man: Jeff Bezos’ Net Worth Hits Milestone As Amazon Sale Soared On Black Friday
Amazon’s founder and CEO, Jeff Bezos’ net worth climbed up $2.4 billion to $100.3 billion after Black Friday sales crowned as the first billionaire to build a 12-figure net worth since 1999, when Microsoft Corp. co-founder Bill Gates hit the mark. Shares of Amazon closed on Black Friday at $1,186, up 2.58 percent with its market value standing at a whopping $571 billion, just behind Microsoft, which has a market value of $642 billion.
Here’s an interesting fact, both Bezos and Gates are neighbors in Medina, a tiny suburb in Seattle, Washington; which means two of the richest and most powerful tech titans now live in the Pacific Northwest.
So what does Bezos do with his wealth? Bezos has given relatively little of his fortune to charity and is only just starting to focus on philanthropy, which he tweeted a request in June requesting for ideas on how to help people. Bezos also said in April that he sells $1.1 billion of Amazon stock every year to fund his space business Blue Origin LLC which is working on developing technologies to enable private human access to space.
Eugene is an Amazon business coach, consultant, and blockchain enthusiast. He helps aspiring and established entrepreneurs build a highly profitable Amazon FBA business so they can unlock their true potential. Learn more about him at wiseintro.co/FreedomProfitsBlueprint