Did you know that sales velocity is a crucial factor in sales ranking on Amazon? If sales are high, the product will rank higher. This means that more people can find your product and buy it! In this blog post, we’ll cover what is sales velocity and how it works so your products get ranked higher on Amazon.
What is Sales Velocity
Sales velocity is the frequency at which sales occur within your online business. The more sales in a short amount of time the higher your sales velocity is. Sales velocity is an important metric to measure the health of an Amazon listing. Sales velocity is most commonly measured in sales per month (30 days).
Why Does Sales Velocity Matter?
So why should you care about sales velocity? It’s simple, if sales are fast then it allows for a faster ROI (return on investment). More sales in the same amount of time equals better ranking, which equals better placement on Amazon’s search engine and more sales. More sales in turn increase your sales velocity and this is how the product life cycle works.
How to Increase Sales Velocity
There are a few ways you can increase sales velocity and speed up the product life cycle on Amazon:
A common strategy is starting with a high price, then dropping it after sales slow down. Once sales start slowing from your new lower price point, raise the price again which will cause sales to pick back up.
Start sales off with a promotion or introductory price. This will increase sales velocity quickly at the beginning of your product life cycle, but make sure to adjust it back up once sales start slowing down! This is one of my favorite tricks for a successful product launch
The way you list your product on Amazon can also help to increase sales velocity. Make sure that all the details are filled out correctly and that you are using high quality images and a catchy title.
This is a great way to increase sales velocity. With PPC advertising, you can specifically target the keywords that are most relevant and popular in your niche. This will help sales velocity when people see your product with these targeted ads and click on it.
Promoting sales at discounted prices or free shipping can be an effective strategy for increasing sales velocity.
In conclusion, sales velocity is an important metric to measure the success of your Amazon listing. By using the tips in this blog post, you can increase sales velocity and speed up the product life cycle on Amazon. Thanks for reading!