November 2023

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Wendi’s Corner

Brought to you by our founder – Wendi Mathis Held

Don’t overlook the basics. Don’t ignore the foundation. How long can a tree remain standing without the roots?” James Clear (Yes, another James Clear quote; he’s just too good!)

For brands selling on Amazon, the basics are the foundation of having a successful product page, especially important as we head into the holiday season. It is easy to get distracted by all the new tools and try to do all the things. However, if the product’s main image is low resolution or the title is broken, you are leaving holiday money on the table.

Do not overlook the basics:

  1. High-quality and enhanced images and video on your product page. Most consumers will only look at your imagery to decide if it is something they want. Have enhanced images to tell the story and emotionally engage with the consumer.
  2. Strong title and length for your product: does the consumer immediately understand what it is and who it’s for? Is it mobile- friendly? Neither Amazon nor the consumer wants overstuffed keywords in titles.
  3. Clear and concise bullet points to explain to your customer how this product will solve their problem. Don’t forget to include keywords for SEO
  4. Updated backend keywords! Is your item very giftable? Include holiday keywords on your listing. Remember to go back after the holidays to update as we move into the new year!
  5. Holiday ready brand-store. Make it easy for your consumer to find deals, go-to gift ideas, and best sellers with sub-pages. Add subtle holiday-like creativity to your banners or images
  6. PPC campaigns. PPC gets more expensive this time of year due to increased competition. You can evaluate your budget and create a strategy to give you the best bang for your buck. You win where you focus
  7. Inventory Management: Do you have enough stock to support the holiday seasonal lift? Is it going to be there on time? Forecast each item, do you have too much or not enough inventory? Look at last year, current item and category trend and project how many days of coverage you need.
  8. Promotions – Deal or No Deal? Do not feel pressured or obligated to be off price! If you did your forecast and you have too much inventory on hand or have some styles that are going to be discontinued it could be a great time to move through units. BUT, if you have products that are trending well, in good inventory position and if you do not need an additional lift in sales to hit your plan for ‘23 – it is okay to say No Deal!

Utilize these suggestions to maximize your holiday returns! For more insight reach out to us directly!

Deal or No Deal?

Black Friday, T5 (Turkey 5, Thanksgiving through Cyber Monday), now T11 – starting a week earlier than Thanksgiving – sales, bargains, promotions – all happening through Q4 starting with Amazon’s Prime Day 2/PEAS in October.

The questions we get most often – What should we promote? How much discount? Do we have to participate?

NO. You do not have to be off price! Do not feel obligated to participate in every promotional period Amazon (or any retailer) create – Prime Day in July, Prime Day 2 in Oct, November is now 11 Days 11/17-11/27 for 2023 and then there is last days of Christmas shopping in December. So many sales, so much margin given!

The answer can be Yes. Do you have products that you are discontinuing oryou are sitting on too many weeks ofcoverage – these high traffic events can be the best time move through units ina shorter period of time! If you have anew item or an item that is slow to get started, a small coupon offering on Amazon during holiday can be a justthe boost the product needs to get momentum. Conversion on marketin gcan be better with a small discount and being able to surface a little higher than competition when advertised with a deal.

Do the math! What is your current plan for those days/weeks. What do you anticipate your lift to be if you run 10- 30% off those products?

Maybe you forecast a 20% lift over your current plan – what does the deal cost you? Do you have enough margin to also increase marketing to promote the deal? Do you have enough stock to support the lift and not run out of inventory? What is your margin for the event and where does that leave you for the year in profit? Know your numbers!

TEST! Maybe with some deal messaging some campaign types you usually do not see success in will have a bump in CVR. Deal messaging is featured in the Sponsored Display and Sponsored Brand creative.

Leverage the holiday traffic – Utilize remarketing audiences towards customers who viewed your products over the deal period and are looking for last-minute gifts!

Deal or No Deal – do the basics (read Wendi’s Corner!)

From Wendi Held and Richard Gauthier

Listen to the most recent episode of Boss Lady and Friends:
I Growth Through Accounting with Hunter Teepenny

Boss Lady and Friends returns with an exciting new friend! Meet Hunter Terpenny, the founder of Humm Accounting Firm, an accounting firm specializing in getting your business “hummin” through managing all things accounting, including True Hero Sales. Join Wendi and Hunter as they discuss the vital aspects of financial and accounting strategies for entrepreneurs — the transformative impact of comprehensive accounting for both you and your business.

Tune in to find out when to get a bookkeeper, fractional CFO, or a permanent CFO, along with invaluable tips on asking the right questions during the hiring process. They continue to explore profitability through knowing how your money is being used and delve into how an accountant can help with that. Listen now to expand your knowledge and increase profitability!