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New customers are like 1st dates
Many of Amazon’s consumers come to the platform to find new brands.
As our economy has taken a hit, consumers are more willing to break brand loyalty and shop with other brands. Simply said, many consumers are open to other brand relationships. This could be your opportunity. It is time to put on your best 1st Date outfit and shine to your new prospects.
You can do this by using your creative/content to show the consumer who your brand is, what you stand for, and why you are different. What brand story are you telling? You have many opportunities to start the conversation throughout your product pages, A+, Brand Story Module (perfect place for introductions), and your Brand Store. Do you qualify for any special Amazon badging, small business, women or black-owned business, organic, sustainable, recycled, etc.?
Is your company a Certified B Corp or do you donate a percentage of sales to charity? Consumers have less money to spend these days. But when they decide to officially go steady (i.e. Add to Cart and Purchase), they also want to feel good about with whom they spent their money on.
-Cori Larwence, True Hero Content Lead
Return on Ad Spend – Is It the Be-All and End-All for Digital Advertising?
Short Answer – NO! But it is a great determining factor for efficiency and where you are putting your PPC Spend.
The industry standard for a “good ROAS” is around $4 (on average for every dollar you spend on advertising, the ads would yield $4 in revenue.) While this is a good benchmark, there are a plethora of factors that go into this ratio:
- What type of product/brand is being advertised? Is it a household name brand? Is it an entirely new brand that no one knows? This factors into conv. rate and ad relevancy which directly relates to ROAS.
- What platform are you advertising on? Walmart, Amazon, Google? They all have a different number of advertisers, different brands and different consumers – they cannot be treated the same.
- What terms/pages are you targeting? Only brand terms and your own brand PDPs? Or are you spending most of your budget on category terms and competitor PDPs?
There is no magic number – ROAS depends on your business and the way you advertise. Make it fit with your overall strategy to grow as a brand and drive sales.
-Richard Gauthier, True Hero Marketing Lead
Lost in Translation
As a 3P Amazon seller do you ever wonder, did my product make it to Amazon? Who reconciles inbound discrepancies? Many would assume Amazon, but the answer is YOU do. It is the seller/vendor's responsibility to track inbound shipments to Amazon. It is possible that Amazon will not notify you of shipment discrepancies. When an FBA shipment is sent to an Amazon warehouse the contents are counted and cataloged in Seller Central for your review. If the record of what Amazon received is different than what was expected to land, the seller has the opportunity to dispute the missing or damaged units. But you must first look to know if there were discrepancies. While Amazon does not always reimburse for missing/damaged inventory, each case is an opportunity to recover lost revenue. The issue is not always missing inventory, in these discrepancies you can also identify when Amazon mislabels inventory and receives inventory with the incorrect ASINs, among other errors. Shipment reconciliation is very manual and time-consuming. If you don't have the bandwidth or expertise talk to an agency (like True Hero) that can help you minimize your loss in transit and mishandled inventory.
-Sara Carrier, True Hero Operations Manager
Welcome to the True Hero Monthly Newsletter
Brought to you by our founder – Wendi Mathis Held
I love The God Father. I love the movies and it gave us some of the greatest movie quotes “Great men are not born great, they grow great” “A man who doesn't spend time with his family can never be a real man" “Keep your friends close your enemies closer.” “Never hate your enemies. It affects your judgment. “Leave the gun, take the cannoli” “It’s not personal, Sonny. It’s strictly business” This is where I disagree. It is personal. Our business is personal. True Hero is not just an agency, we see ourselves as part of the brands we work with. Whether we are managing a brand on Amazon or helping them with go-to-market, our team is part of your team. Our people are invested in time, energy, and heart. It is why we choose to work with people or brands that we can stand behind, and that we are passionate about. We hope to bring the same enthusiasm you do!