That’s why forward thinking entrepreneurs are turning their attention to the Walmart Marketplace as a complementary sales channel. 

Wondering if it’s time to make the move yourself? 

This post looks at the top five reasons why Amazon sellers should consider adding Walmart shoppers to their bottom line. 

1. Less Competition: A Clearer Path to Visibility

Feeling crowded in your Amazon niche? One of the most significant advantages of selling on the Walmart Marketplace is the considerably lower level of competition. Let’s break down the numbers: 

• Amazon: With over 9.7 million sellers worldwide, the tidal wave of competitors can make it challenging for any one individual seller to stand out, especially in a popular niche.
• Walmart Marketplace: The Walmart Marketplace has approximately 150,000 sellers. This drastically reduced number of competitors creates a less saturated environment for your products, increasing your chances of visibility and success with Walmart customers. 

Still, it’s going to feel familiar. Just like selling on Amazon, you use Walmart Seller Center to register your company, update your account settings, view reports, and manage catalog performance. If you don’t want to use Walmart’s APIs, your Walmart Seller account is where you will manage your items and orders.

What does this mean for you as a seller?

• First-mover advantage: You’ll have the opportunity to establish a strong presence before the platform becomes more competitive.
• Easier product discoverability: With fewer competing listings, your Walmart products have a better chance of appearing in search results and category pages.
• Reduced advertising costs: Less competition has a tendency to translate to lower costs for Walmart sponsored product placements and other advertising options.
• Quicker path to the Buy Box: The Walmart Buy Box, similar to Amazon’s, is going to be easier to win with fewer competitors vying for the same spot with their product listing. 

2. Access to a Large and Diverse Customer Base

There’s no question that the Amazon marketplace is unrivaled in scale. Still, Walmart.com presents a unique opportunity for sellers to tap into a different demographic. Walmart’s strong brand presence, extensive network of physical stores, and loyal customer base provide an additional platform to reach millions of potential buyers who might not be as active on Amazon.

By leveraging both marketplaces, sellers can maximize their exposure, diversify their revenue streams, and enhance their overall market presence

Key demographic differences:

• Geographic reach: Walmart has a strong presence in rural and suburban areas where Amazon’s penetration might be lower.
• Income levels: Walmart tends to attract more budget-conscious shoppers, which can be advantageous for certain product categories.
• Age groups: Walmart’s online platform is gaining traction among older shoppers who are familiar with the brand from their many trips to Walmart’s brick and mortar, shopping center locations.

3. Walmart’s Lower Fees Help You Boost Your Bottom Line

Sometimes Amazon’s fee structure can feel like a death by 1000 cuts. The accumulated small charges all add up. One of the most attractive aspects of selling on Walmart Marketplace is its reduced fee structure, which can lead to higher profit margins for sellers. Here’s how it compares to Amazon’s fee structure:

• Walmart Marketplace:
  • No monthly fees
  • Referral fees range from 6% to 20%, depending on the product category
• Amazon:
  • Monthly subscription fee for Professional sellers ($39.99/month)
  • Referral fees typically range from 8% to 45%, depending on the category

When it comes to the difference between Walmart’s Fulfillment Services (WFS) and Fulfillment by Amazon (FBA), the choice between them may depend on specific needs such as cost, storage duration, product type, and additional services. Walmart WFS tends to have simpler, more predictable pricing.

The impact on your business:

• Lower overhead costs: Without monthly fees, you can list products without ongoing expenses.
• Potentially higher margins: Lower referral fees in many categories can translate to better profitability per sale. Sometimes a few cents are enough to tip a high volume product into the black. 
• Simplified accounting: A straightforward fee structure makes it easier to calculate profits and manage your finances.

4. Leverage Walmart’s Brick and Mortar Presence to Build Social Proof

Selling on Walmart Marketplace allows you to benefit from the company’s established brand reputation and consumer trust. Here’s why this matters:

• Long-standing reputation: Walmart has been a household name for decades, with a reputation for value and reliability.
• Trust transfer: When customers see your products on Walmart.com, a percentage of that trust can extend to your brand.
• Perceived legitimacy: Being accepted as a Walmart Marketplace seller can lend credibility to your business, increasing customer confidence.

How this benefits your brand:

• Increased conversion rates: Customers may be more likely to purchase from an unfamiliar brand when it’s associated with a trusted platform like Walmart.
• Enhanced brand image: Association with a major retailer can elevate your brand’s perceived status.
• Potential for cross-channel growth: Success on Walmart Marketplace can lead to opportunities in Walmart’s brick-and-mortar stores or other retail channels.

5. Walmart Connect – Next-Level Ad Tech

Entrepreneurs KNOW how important pay-per-click advertising is to success on Amazon.

Similarly, Walmart Connect, their inhouse advertising platform helps sellers succeed by enhancing product visibility, enabling more precise audience targeting, and providing valuable performance insights. 

Through features like sponsored product, sponsored brand, customizable display ads, and geo-targeting, Walmart marketplace advertising helps sellers reach relevant customers and drive sales. 

Walmart Connect’s flexible budgeting and pay-per-click model ensures cost efficiency, while seamless integration with Walmart’s ecosystem enhances the shopping experience and boosts conversion rates. 

Here’s a closer look at Walmart Connect capabilities: 

Targeted Advertising – Walmart’s wealth of shopper data helps sellers target ads based on demographics, interests, and shopping behavior, ensuring ads reach the most relevant customers.

Geo-Targeting – Focus ads on specific geographic locations to attract local shoppers, which is particularly useful for regional sellers and smaller niches.

Performance Insights – Access detailed performance reports that track ad effectiveness, sales impact, and return on ad spend (ROAS). This helps sellers optimize their campaigns, make data-driven decisions, and put their product catalog in the spotlight.

Integration with Walmart’s Ecosystem – Ads are integrated into the Walmart marketplace, creating a seamless shopping experience that can lead to higher conversion rates.

Omni-Channel Reach – Walmart Connect supports both online and in-store sales, allowing sellers to reach customers across multiple channels and drive omnichannel success.

Custom Solutions – Walmart Connect’s ad team can create custom advertising solutions that align with specific business goals and marketing strategies.

Seasonal and Event-Based Promotions – Leverage Walmart Connect for special promotions during key shopping events like Black Friday, Cyber Monday, and seasonal sales, maximizing exposure during peak times.

How Canopy Management Can Help

For Canopy Management, it’s not really a question of selling on Amazon OR Walmart. By leveraging the strengths of BOTH platforms, you can create a more resilient and diversified business model. Expanding to the Walmart Marketplace could be the strategic move that takes your online selling business to the next level.

Walmart onboarding (from A to Z) is our specialty. Find out how Canopy’s Walmart team can help you take this big step forward with your ecommerce brand. 

What would adding 67% more organic sales mean for your brand?

Turns out that when you combine the massive experience of Canopy’s Walmart Experts with smart tools and tech, you get industry-leading results like this:

• 84% Average Year-Over-Year Profit Growth for Our Partners
• 2.7 Billion in Revenue Managed
• 99.1% Partner Retention Rate

Canopy Management is a full-service marketing agency for Amazon and Walmart sellers. Our team consists of former Amazonians, multi-million dollar sellers, and award-winning experts.

When you consider the many ways that Canopy Management can help you grow your business, you’ll see why selling on Amazon AND Walmart is much easier “under the Canopy.”

• Strategic Growth Planning
• Listing Copywriting Optimization
• Listing Photography
• Product Videography
• Advertising Management
• Customer Service
• Demand Side Platform (Amazon DSP)
• Amazon Posts
• Full Service Management
• Amazon Review Aggregation

The post Selling on Amazon? Here’s Why the Walmart Marketplace Should Be Your Next Move appeared first on Canopy Management.

One of the most effective ways to do that is through product listing variations. 

By leveraging Amazon listing variations, you can significantly improve the customer experience, increase product discoverability, and optimize your business operations. Here are five ways Amazon product variations can help succeed in what’s become a very competitive marketplace.

1. Improve Your Overall Customer Experience

It’s important to always keep in mind how much the customer experience matters to Amazon – and their vigilant algorithm. By allowing customers to easily view and compare different options such as size, color, or style on a single listing, you can make the shopping process much more convenient and enjoyable. Making Amazon’s shoppers happy should be job one. 

Easier Comparisons

When customers can see multiple variations of a product on one page, they can quickly compare the different options available. This is especially important for products that come in many sizes or colors. For example, a customer looking for a t-shirt can easily see all the available sizes and colors without having to navigate away from the listing. 

Reduced Navigation Struggles

By consolidating variations into a single listing, you can reduce the need for customers to navigate between multiple listings. This not only saves time for customers but also keeps them engaged on your Amazon page, solidifying your brand image and increasing the likelihood of a purchase.

2. Increase Your Product Discoverability

We all know that Amazon’s search algorithm favors listings that have higher engagement, better reviews, and more sales. Product variations’ ability to boost a product’s visibility and discoverability is all important. 

Consolidate Reviews and Ratings

Amazon reviews and ratings are becoming more important every year. With newer listings, it’s become one of the most impactful elements of a successful product launch. 

When all variations of a product are combined under a single parent listing, the reviews, ratings, and sales metrics are also consolidated. This can enhance the overall ranking of the product in Amazon’s search results, making it more visible to potential customers. 

A listing with numerous positive reviews and high ratings is more likely to catch the attention of shoppers, increasing the chances of a sale.

Improve Your Search Rankings

Because Amazon’s algorithm takes into account the aggregated sales and review data, a well-optimized parent listing with multiple variations tends to rank higher in search results. This increased visibility means that more customers will see the product when searching for related items, leading to higher traffic and potentially more sales.

With more variations available, there are more opportunities to match customer search queries with relevant products. For instance, if a customer is searching for a “blue small t-shirt,” having that specific variation under a well-ranked parent listing increases the chances of the product appearing in search results. That’s going to capture a broader audience.

3. Boost Your Conversion Rates

It’s not exactly rocket science. Making it easier for customers to find and purchase the right product means that product variations will almost certainly impact conversion rates. 

Create More Options on a Single Page

When shoppers are presented with multiple options on a single page, they are more likely to make a purchase. Because they do not need to leave the listing to explore other options, there’s much less risk of them getting distracted or losing interest.

Review Build Trust

As mentioned above, having all reviews and ratings consolidated under one parent listing builds trust and confidence in the product. Customers are more likely to purchase a product that has numerous positive reviews, as it signals reliability and quality. This trust factor can significantly enhance conversion rates.

4. Streamline Your Listing Management

Inventory management is well known amongst veteran Amazon sellers as a quiet killer. It’s responsible for the demise of many otherwise profitable ecommerce brands. 

Managing inventory and listings efficiently is crucial for any business. Product variations can simplify these processes, saving time and reducing the risk of errors.

Make Inventory Management Easier

With product variations, sellers can manage multiple SKUs under one parent listing. This simplifies inventory tracking and listing management, making it easier to monitor stock levels and make updates across all variations.

Save Time

Creating and maintaining separate listings for each product variation can be time-consuming and complex. By using product variations, sellers can reduce the need for multiple listings, simplifying their overall management process. This also ensures a more organized and cohesive presentation of their product catalog.

5. Simplify Testing of New Products

Amazon product variations can also serve as a valuable tool for testing new products and understanding market preferences without the need for a full-scale product launch. This strategic advantage can help you to minimize risks and maximize your return on investment.

Market Testing

By introducing a new variation under an existing, well-performing parent listing, you can gauge customer interest and demand without committing a bunch of money. This allows for real-time feedback and insights into whether a new product variation is likely to succeed. For example, if you already sell a popular black t-shirt, adding a new color like red or green as a variation can help you see how well these colors perform compared to the original. 

Customer Insights

Product variations provide a wealth of data on customer preferences and behavior. By analyzing which variations are most popular, sellers can make informed decisions about expanding their product lines or discontinuing less popular options. This data-driven approach ensures that inventory investments are focused on products with the highest potential for sales

Cost-Effective Launches

Launching new variations under an existing listing is more cost-effective than creating entirely new listings. It reduces the need for additional advertising and promotional efforts since the parent listing already has visibility, reviews, and sales momentum. This strategy allows for a more efficient use of marketing budgets while still expanding the product range. Instead of starting from scratch, you leverage the existing reputation and customer base of your main product. 

Enhanced Product Development

Feedback from variations can guide future product development. By understanding what features or characteristics customers prefer, you can tailor your new product designs to meet these demands. For example, if customers consistently praise the comfort and fit of a particular variation, you can incorporate these elements into future products.

Competitive Advantage

Staying ahead of the competition is crucial in the highly competitive Amazon marketplace. Utilizing product variations to test new ideas and gather insights gives you a competitive edge. You can quickly adapt to changing market trends and customer preferences, ensuring that your product offerings remain relevant and appealing. This agility can set you apart from competitors who may be slower to innovate or respond to market changes.

How Canopy Management Can Help

What would adding 67% more organic sales mean for your brand?

Turns out that when you combine the massive experience of Canopy’s Amazon Advertising Experts with smart tools and tech, you get industry-leading results like this:

• 84% Average Year-Over-Year Profit Growth for Our Partners
• 2.7 Billion in Revenue Managed
• 99.1% Partner Retention Rate

Canopy Management is a full-service marketing agency for Amazon and Walmart sellers. Our team consists of former Amazonians, multi-million dollar sellers, and award-winning experts.

When you consider the many ways that Canopy Management can help you grow your business, you’ll see why selling on Amazon is much easier “under the Canopy.”

• Strategic Growth Planning
• Listing Copywriting Optimization
• Listing Photography
• Product Videography
• Advertising Management
• Customer Service
• Demand Side Platform (Amazon DSP)
• Amazon Posts
• Full Service Management
• Amazon Review Aggregation

The post Why You Should Make Amazon Product Variations Your Superpower   appeared first on Canopy Management.

“As a performance-based firm, Canopy Management’s primary focus is on creating systems and strategies that add up to success for our partners. Knowing that we’ve been able to do that while prioritizing workplace culture is immensely satisfying and a huge win for everyone on the Canopy Management Tribe.”

– Haley Burt, Chief Operating Officer 

After collecting data from thousands of submissions, Inc. selected 543 honorees this year. Each company that was nominated took part in an employee survey, conducted by Quantum Workplace, which included topics such as management effectiveness, perks, fostering employee growth, and overall company culture. The organization’s benefits were also audited to determine overall score and ranking.

“While our partners’ explosive success is a huge satisfaction, we are equally proud – and thankful – that our people think we are a best place to work. It just goes to show that investing in our culture is not only a great way to prepare for Canopy’s growth as an agency, it also helps create a lot of wins for our partners!”

– Brian Burt, Founder and CEO

“Each year, Inc.’s Best Workplaces program recognizes the very best in terms of companies that have fostered a truly amazing culture,” says Inc. editor-in-chief Mike Hofman. “We use hard metrics and data as well as qualitative measures for judging in order to find the very best—and we’re proud that the program is highly selective.”

About Canopy Management

Canopy Management is a leading Amazon and Walmart agency, dedicated to helping brands scale their businesses, gain market share, and become Kings & Queens of their Category! With a track record of growing client profit by 87% on average and a 99.1% client retention rate, Canopy is the quiet force behind some of the most successful brands in ecommerce.

About Inc. Media

The world’s most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including websites, newsletters, social media, podcasts, and print.

Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers, and the credibility that helps them drive sales and recruit talent. The associated Inc. 5000 Conference is part of a highly acclaimed portfolio of bespoke events produced by Inc. See the full list here: https://www.inc.com/best-workplaces

About Quantum Workplace

Quantum Workplace, based in Omaha, Nebraska, is an HR technology company that serves organizations through employee-engagement surveys, action-planning tools, exit surveys, peer-to-peer recognition, performance evaluations, goal tracking, and leadership assessment. For more information, visit QuantumWorkplace.com.

The post Canopy Management Wins Inc. Best Workplace Award appeared first on Canopy Management.

This big oopsie from Google has provided a rare glimpse into the closely-guarded algorithms and processes that power the world’s most popular search engine. The leaked files have pointed a floodlight on the factors that Google considers when ranking websites, as well as the intricate systems and techniques they use to determine search result rankings.

Why should this matter to ecommerce sellers? 

Canopy Management’s head of Data Analytics, Cory Chin, and his team combed through the available information as well as digging deeply into the massive pile of information. It’s not a huge leap to see the similarities between what was revealed, and what we think we know about Amazon’s own algorithm.

How Google Domain Authority and Amazon BSR Rankings Differ

One of the key revelations is Google’s likely use of metrics such as “Domain Authority” and “Homepage PageRank” to assess a website’s overall authority and relevance for ranking purposes. These metrics could play a significant role in determining how well a website ranks for specific search queries. 

When you type a phrase into Amazon search, you’ll see results based on its search ranking. Best Seller Rank indicates how a product ranks within the specific category. 

Still, the steps that online sellers take to improve Amazon BSR – including selecting the most relevant product categories, optimizing listings for search visibility, setting competitive prices, and leveraging advertising feels like it has a lot to do with the same tactics you need to employ to be found on Google. 

Google “Sales?” 

User interaction data, particularly click-through rates from search results, appears to be a major ranking factor. Google seems to differentiate between “good clicks” and “bad clicks,” using this information to gauge the relevance and quality of search results. Websites with higher engagement and user satisfaction are more likely to rank better. 

That sounds like Google’s version of a sale to me. 

Sandbox “Authority” Filters? 

The documents also hint at the existence of a “Sandbox” filter, which may delay new websites from achieving high rankings until they establish trust and authority. This could be a measure to prevent spammy or low-quality sites from quickly gaining prominence in search results.

Like many of you surely do, I see parallels to Amazon’s dependence on reviews to determine the trustworthiness of a newer ecommerce brand on the Amazon marketplace. 

Amazon Native Brands Anyone? 

Interestingly, Google may have a “whitelist” system that gives preferential treatment to authoritative websites during major events like elections or pandemics. This suggests that Google prioritizes trusted sources of information during times of heightened public interest or concern.

During the dark days of the recent pandemic, instead of brands bidding for the high profile slot at the top left of Amazon’s listings, the massive online marketplace began using this position for its private-label items, raising antitrust concerns.

The leak also indicates that Google may incorporate data from its Chrome web browser, such as page views, into its ranking algorithms. This data could provide insights into user behavior and engagement beyond just search interactions.

Niching Down, or Potentially Troublesome Territory? 

Several sophisticated systems and processes are mentioned in the documents, including “Mustang,” “Ascorer,” “NavBoost,” and “Twiddlers.” These systems appear to be involved in scoring, ranking, re-ranking based on user clicks, and making adjustments to search results. 

“Twiddlers,” for example, seem to act as filters that can boost or demote results based on specific factors like skin tone detection. 

Google “Listing” Optimization

The documents reveal that Google heavily analyzes anchor text (the visible, clickable text in a hyperlink) and may demote pages if there is a mismatch between the anchor text and the content of the linked page. This highlights the importance of relevant and accurate anchor text in both internal and external linking.

Again, it’s hard not to view this through the lens of Amazon SEO and the importance of search term prioritization in Amazon listings. 

Another notable system mentioned is “Panda,” which apparently determines a “Site Quality Score” based on user behavior signals and backlink analysis. This score can be used to boost or demote entire websites, indicating that overall site quality is a significant factor in Google’s rankings.

More Similarities with Amazon’s Ranking Factors

Other signals and factors that Google considers include content freshness, recency, backlink velocity patterns (how quickly a site acquires links), and version histories. The documents also suggest that feedback from human “quality raters” may impact rankings, providing a human element to the largely automated ranking process.

These factors quickly bring to mind the importance of an Amazon brand launch, reviews, and sales velocity. 

Google seems to collect a wide range of data points, such as content length, author expertise, and domain details, which likely contribute to its assessment of a webpage’s relevance and quality. Interestingly, there may be a promotion signal for personal or small websites, potentially giving them a boost in certain situations.

What This Means to Amazon Sellers

The leaked documents offer brand new insights into the complex and multifaceted nature of Google’s search algorithms. The combination of user signals, website authority metrics, content quality analysis, and sophisticated ranking systems highlights the immense effort and consideration that goes into delivering relevant search results to users. 

More importantly, they show that even though Google and Amazon’s algorithms are designed to do two very different things, the path they take to get there is pretty similar. 

What does that mean to ecommerce sellers? My first thoughts have to do with PPC targeting campaigns and off-Amazon traffic. 

As time goes by, I’m sure that leading online entrepreneurs will have a lot to say on the subject. In the meantime, If you’d like to follow along with what Canopy Management has been able to uncover, check the Canopy blog page here, to find the latest ecommerce news. 

The post What Google’s Leaked Documents Might Reveal About Ecommerce Rankings on Amazon appeared first on Canopy Management.

This perpetual evolution also creates exciting opportunities. Forward-thinking companies can capitalize on brand new technologies and trends to revolutionize their ecommerce offerings, and build stronger customer connections and driving growth.

Over the past year, three pivotal developments have helped reshape the digital marketplace. These game changing elements – artificial intelligence (AI, remote work, and Social media – present a trifecta of opportunities for businesses to gain a competitive edge and drive success

Artificial Intelligence is Trending on Google

As shown in the Google Trends screenshot above, before 2022, Google searches for the term, “artificial intelligence” were practically nonexistent. Now, it’s hard to find a conversation that doesn’t touch on AI in one way or another.

Over the last 12 months, artificial intelligence (AI) has emerged as a transformative force, reshaping the ecommerce landscape in profound ways. From personalized shopping experiences to optimized supply chains and enhanced customer service, AI is no longer a futuristic concept but a present-day reality that businesses must embrace to stay competitive.

AI-Driven Personalization 

AI algorithms have revolutionized the way that ecommerce businesses can use personalized recommendations to enhance customer experience. By analyzing customer data, browsing history, and purchase patterns, AI can deliver tailored product suggestions, increasing the likelihood of conversions.

AI personalization results in higher customer satisfaction and loyalty. Account-based marketing outreach – down at the conversion end of the funnel – is supercharged by the tailored messaging that AI makes possible.

AI in Inventory and Supply Chain Management 

AI has also proven to be a valuable tool in predicting demand and optimizing inventory management. By analyzing historical sales data and market trends, AI algorithms can forecast future demand, enabling businesses to make informed decisions about stock levels and avoid overstocking or understocking.

AI-Powered Customer Service 

Chatbots and virtual assistants powered by AI have transformed customer support in the ecommerce industry. These tools can handle a wide range of customer inquiries, from product information to order tracking, providing instant responses and reducing the workload on human support teams.

The implementation of AI in customer service has led to improved response times and higher customer satisfaction rates.

The Shift to Remote Work

The global shift to remote work has been one of the most significant changes in the business world over the past year, and the ecommerce industry is no exception. As companies adapt to this new reality, they face both challenges and opportunities in managing their operations, maintaining productivity, and fostering a positive work culture. 

Adapting Business Operations 

Remote work has presented both challenges and opportunities for ecommerce businesses. Managing remote teams requires adaptations in communication, collaboration, and task management. Tools like project management software (e.g., Trello, Asana) and communication platforms (e.g., Slack, Zoom) have become essential for facilitating remote work and ensuring seamless operations.

Maintaining Productivity and Collaboration 

Ensuring team productivity while working remotely is a key concern for ecommerce businesses. Successful strategies include setting clear goals and expectations, regular check-ins, and building a culture of trust and accountability. Successful implementation of effective remote work policies rewards prioritized communication, flexibility, and results-oriented performance metrics.

Flexibility and Work-Life Balance 

The almost universal consensus is that employees’ work-life balance has benefitted. The flexibility to work from anywhere and the elimination of commute times have led to increased job satisfaction and retention. Ecommerce businesses that embrace remote work can attract and retain top talent, as well as reduce overhead costs associated with physical office spaces.

The Influence of Social Media

These days, social media is an indispensable tool for ecommerce businesses looking to connect with their target audience, build brand awareness, and drive sales. Over the past year, the influence of social media on the ecommerce landscape has grown exponentially, with the emergence of new trends, platforms, and strategies that are reshaping the way businesses approach digital marketing. 

Social Media Marketing Trends 

Social media marketing has undergone significant changes in the last year, with the rise of influencer marketing and user-generated content. Platforms like TikTok and Instagram have gained immense popularity, offering new opportunities for ecommerce brands to reach and engage with their target audiences. Leveraging these trends can help businesses build brand awareness and drive sales.

Social Commerce 

The integration of live shopping features on social media platforms has given rise to social commerce. Platforms like Instagram and Facebook now allow users to shop directly within the app, streamlining the purchasing process and reducing friction. This trend has had a significant impact on sales and customer acquisition for ecommerce businesses that have embraced social commerce.

AI + Remote Work + Social Media = Amazon Success

While the individual impacts of AI, remote work, and social media are significant, the true game-changer lies in the convergence of these three forces. By strategically integrating these elements, entrepreneurs can unlock a potent competitive advantage, driving innovation, agility, and customer engagement to new heights.

Enhancing Social Media with AI Insights

Social media has become a pivotal channel helping you connect with customers, build brand awareness, and drive sales. However, the sheer volume of data and interactions on these platforms can be overwhelming. This is where AI steps in, providing powerful analytics tools that can extract valuable insights from social media data.

AI algorithms can analyze customer conversations, sentiment, and behavior patterns to help you identify the most effective content, optimal posting times, and target audience segments. Tools like Sprout Social and Hootsuite leverage AI to help you craft data-driven social media strategies, maximize your return on investment, and stay ahead of emerging trends.

Managing Remote Social Media Teams

As remote work becomes increasingly common, it’s changed the say that you’re able to work with influencers and social media managers. Coordinating remote teams and ensuring consistent brand messaging across multiple channels can be challenging without the right tools and processes.

Collaboration platforms, content calendars, and social media management software can streamline communication and workflow, enabling remote teams to execute cohesive social media strategies. Additionally, remote work opens up access to a global talent pool, and make it easier for you to hire the best people, regardless of their location.

How Canopy Management Can Help

In the last year, AI, remote work, and social media have had a profound impact on the ecommerce landscape. As an ecommerce seller, it’s essential to explore how these trends can be applied to your own business.

To capitalize on another recent trend, take advantage of a shortcut that many of Amazon’s top sellers have quietly used to get to where they are today; reach out to an Amazon Management agency.

What would adding 67% more organic sales mean for your brand?

Turns out that when you combine the massive experience of Canopy’s Amazon Advertising Experts with smart tools and tech, you get industry-leading results like this:

• 84% Average Year-Over-Year Profit Growth for Our Partners
• 2.7 Billion in Revenue Managed
• 99.1% Partner Retention Rate

Canopy Management is a full-service marketing agency for Amazon and Walmart sellers. Our team consists of former Amazonians, multi-million dollar sellers, and award-winning experts.

When you consider the many ways that Canopy Management can help you grow your business, you’ll see why selling on Amazon is much easier “under the Canopy.”

• Strategic Growth Planning
• Listing Copywriting Optimization
• Listing Photography
• Product Videography
• Advertising Management
• Customer Service
• Demand Side Platform (Amazon DSP)
• Amazon Posts
• Full Service Management
• Amazon Review Aggregation

The post Empowering Entrepreneurs: How AI, Remote Work, and Social Media are Revolutionizing Business appeared first on Canopy Management.

These limitations include its failure to account for the full customer journey, its focus on short-term gains, its potential to misrepresent profitability, and its inability to measure the effectiveness of branding and awareness campaigns.

This post takes a closer look at the limitations and risks posed by an obsession with ROAS. Then, it details a more holistic approach to highly effective marketing, and charts a successful path forward for ecommerce entrepreneurs willing to look past vanity metrics. 

Why Does ROAS Matter? 

ROAS, or “Return on Ad Spend” is a marketing metric used to measure the effectiveness of an advertising campaign. ROAS is calculated by dividing the revenue generated from an advertising campaign by the cost of that campaign. 

For example, if a company spends $1,000 on an advertising campaign and generates $5,000 in revenue as a direct result of that campaign, the ROAS would be 5 (5,000 / 1,000 = 5). This means that for every dollar spent on the advertising campaign, the company earned $5 in revenue. 

ROAS has traditionally functioned as a key metric for marketers as it helps them evaluate the profitability and efficiency of their advertising efforts, allowing them to optimize their campaigns for better returns.

Prioritizing ROAS Can Be Counterproductive

While Return on Ad Spend (ROAS) is widely used in digital marketing, committing an unhealthy amount time and research on this metric can lead to several pitfalls that undermine a brand’s long-term success. 

By prioritizing short-term gains and efficiency over a more comprehensive, balanced approach to marketing, businesses risk limiting their growth potential, stifling creativity, and damaging valuable customer relationships. 

In this section, we’ll explore the limitations and risks associated with an over-reliance on ROAS as the primary marketing metric, highlighting the importance of adopting a holistic strategy that considers both immediate results and long-term brand health.

Short-Term Focus

• ROAS prioritizes immediate conversions and sales at the expense of long-term brand building and customer acquisition.
• This short-sighted approach can hinder sustainable growth by overlooking the value of nurturing customer relationships over time.
• Sustainable growth requires a balanced approach that includes both immediate sales strategies and long-term investments in brand equity and market development.

Overly Narrow Targeting

• Chasing high ROAS can lead to targeting only the most valuable existing customers, limiting brand reach and awareness among potential new customers.
• Overly narrow targeting can stunt overall market share growth by failing to attract a broader audience.
• This approach can create a vicious cycle where the same customer base is repeatedly targeted, leading to diminishing returns and potential customer fatigue.

Efficiency Over Effectiveness

• ROAS measures the efficiency of ad-generated sales but doesn’t capture the broader impact and effectiveness of marketing campaigns in building brand equity, driving customer loyalty, and increasing market share.
• Focusing solely on ROAS can lead to optimizing for transactional efficiency rather than strategic effectiveness.

Stalling Creativity

• Chasing immediate ROAS can lead to favoring “tried and true” tactics over innovative, attention-grabbing campaigns that may not drive instant conversions but are crucial for ecommerce longevity.
• By prioritizing short-term ROAS, brands risk missing out on creative opportunities that could significantly enhance their brand image and customer loyalty in the long run.

Budget Micromanagement

• An obsession with ROAS often leads to cutting ad spend or constantly tweaking budgets based on short-term fluctuations, undermining consistent, strategic investments in growth.
• Constantly reacting to short-term performance metrics can create instability and prevent the implementation of effective long-term marketing plans.

A More Holistic Approach

To build lasting success, brands should adopt a more comprehensive view of marketing performance that balances ROAS with other crucial metrics including:

Share of Search

Share of Search measures a brand’s visibility and mind share within its target market. It indicates how often a brand is searched for relative to its competitors, providing insights into brand awareness and the potential for future growth. 

By analyzing Share of Search, marketers can gauge the effectiveness of their brand-building efforts and identify opportunities to increase market presence. This metric is particularly useful for tracking the impact of marketing campaigns over time and understanding how well the brand resonates with its target audience compared to competitors.

Contribution Margin

Contribution Margin considers the profitability and efficiency of marketing efforts in driving business results, rather than just looking at sales figures. This metric subtracts variable costs from revenue to determine how much money is available to cover fixed costs and generate profit. 

By focusing on Contribution Margin, marketers can evaluate the true financial impact of their campaigns and make more informed decisions about where to allocate resources. This approach encourages strategies that not only boost sales but also enhance overall profitability.

New Customer Acquisition Cost

Analyzing the cost and efficiency of acquiring new customers is essential for long-term growth and market expansion. New Customer Acquisition Cost (CAC) measures the expense incurred to attract and convert new customers, providing insights into the effectiveness of marketing strategies. 

By optimizing CAC, brands can ensure that their customer acquisition efforts are cost-effective and scalable. This metric is crucial for evaluating the return on investment of various marketing channels and tactics, helping brands to balance immediate sales with sustainable growth.

Customer Lifetime Value

Customer Lifetime Value (CLV) focuses on the total value a customer brings to a brand over their lifetime. This metric encourages strategies that prioritize long-term customer relationships by considering the recurring revenue a customer generates through repeat purchases and loyalty. 

By understanding CLV, brands can tailor their marketing efforts to enhance customer retention, satisfaction, and loyalty. Investing in long-term customer relationships not only increases CLV but also reduces churn rates and improves overall business stability.

Brand Awareness

Measuring how well a brand is recognized and recalled by its target audience is crucial for understanding the long-term impact of marketing efforts. Brand Awareness metrics track the extent to which consumers are familiar with and can identify a brand. High brand awareness often correlates with greater customer trust and preference, leading to increased market share and customer loyalty. 

By monitoring brand awareness, marketers can assess the effectiveness of their brand-building activities and identify areas where additional efforts are needed to enhance visibility and recognition.

How Canopy Management Can Help

A holistic approach that balances ROAS with these other key metrics helps brands develop more sustainable, effective marketing strategies. This means investing in creative campaigns that capture attention, drive brand awareness, and attract new customers, even if they don’t always yield the highest immediate ROAS.

A lot of Amazon’s top entrepreneurs have another strategy that they’ve quietly employed to become top sellers in their ecommerce niches; hiring a full service Amazon management agency. 

What would adding 67% more organic sales mean for your brand?

Turns out that when you combine the massive experience of Canopy’s Amazon Advertising Experts with smart tools and tech, you get industry-leading results like this:

• 84% Average Year-Over-Year Profit Growth for Our Partners
• 2.7 Billion in Revenue Managed
• 99.1% Partner Retention Rate

Canopy Management is a full-service marketing agency for Amazon and Walmart sellers. Our team consists of former Amazonians, multi-million dollar sellers, and award-winning experts.

When you consider the many ways that Canopy Management can help you grow your business, you’ll see why selling on Amazon is much easier “under the Canopy.”

• Strategic Growth Planning
• Listing Copywriting Optimization
• Listing Photography
• Product Videography
• Advertising Management
• Customer Service
• Demand Side Platform (Amazon DSP)
• Amazon Posts
• Full Service Management
• Amazon Review Aggregation

The post The Limitations of ROAS – Don’t Let a Vanity Metric Hijack Your Growth appeared first on Canopy Management.

It would be easy enough to imagine that once you made it past all of that, things might get easier. Unfortunately, that’s not the case. Not with millions of sellers vying for the same customers’ attention. You need to find a way to stand out from the crowd and drive targeted traffic to your listings. 

This is where Amazon advertising comes into play.

Amazon’s own native advertising platform gives you a powerful set of tools to increase product visibility, attract relevant customers, and ultimately boost sales. By leveraging the platform’s vast user base and targeting capabilities, you can reach shoppers at various stages of the buying journey, from initial product discovery to final purchase decisions.

This post focuses on two main topics. First, we’ll look at three big reasons why it’s more important than ever to utilize Amazon advertising to put your product in front of the perfect online shopper. The second part of this post details five overlooked strategies that you can use to differentiate your Amazon advertising campaigns from those using a cookie cutter approach. 

To begin, here’s why Amazon advertising matters more than ever in 2024:

Increased Competition on the Amazon Marketplace

• The number of sellers on Amazon has grown exponentially in recent years, making it harder for individual products to stand out organically.
• With millions of products available, customers often make purchasing decisions based on the first few search results they see.
• Advertising allows you to gain visibility and compete effectively, even against larger or more established brands.
• As competition continues to intensify, investing in advertising has become a necessity, and ensuring that your products are seen by potential customers.

The Rise of Amazon as a Product Search Engine

• More and more customers are starting their product searches directly on Amazon, rather than using traditional search engines like Google.
• Amazon has become the go-to destination for product discovery, research, and purchasing, with over 60% of online shoppers starting their search on the platform.
• By advertising on Amazon, you can tap into this massive audience of ready-to-buy customers and increase your chances of being discovered.
• Advertising allows you to appear in prominent positions when customers search for relevant keywords, increasing visibility and driving targeted traffic to your listings.

The Evolution of Amazon’s Advertising Ecosystem

• Amazon’s advertising platform has evolved significantly in recent years, offering you a wide range of ad formats and targeting options.
• From Sponsored Products and Sponsored Brands to Sponsored Display and video ads, you can now create diverse, visually engaging campaigns to reach customers at various stages of the buying journey.
• Amazon’s advanced targeting capabilities allow you to reach specific customer segments based on demographics, interests, behaviors, and past purchasing history.
• The ability to retarget customers who have previously interacted with your products has made advertising even more effective in driving repeat sales and fostering customer loyalty.
• As Amazon continues to invest in its advertising technology and introduce new features, sellers who leverage these tools will be better positioned to succeed in the competitive ecommerce landscape.

5 Overlooked Amazon Ad Strategies 

Keywords play a big role in making sure that your product listings AND ad campaigns show up for the right audience. Sponsored Products Ads are a powerful tool for driving product visibility and sales, Sponsored Brands Ads offer a unique opportunity to promote brand awareness and drive customer loyalty. Amazon’s Sponsored Display Ads allow you to reach customers both on and off Amazon, leveraging retargeting capabilities and audience targeting. 

But, to a certain degree, it’s 2024 and everyone is checking those boxes. The next five strategies aren’t utilized by those Amazon sellers that are often putting in the minimum amount of effort. 

Here’s where you, and your product can shine. 

1. Utilize Amazon’s Demand-Side Platform (DSP)

Amazon DSP allows sellers to programmatically buy ad placements not only on Amazon but across various third-party websites and apps. With DSP, sellers can reach a wider audience, including those who may not be actively searching on Amazon but have shown interest in similar products.

Sellers can create highly targeted campaigns based on audience segments, such as in-market audiences, lifestyle segments, and even competitor’s customers.

2. Leverage Social Commerce Such as Amazon Live 

Amazon Live is a live-streaming platform within Amazon where sellers can showcase their products, provide demonstrations, and engage with potential customers in real-time.

By hosting live sessions, sellers can build trust, answer questions, and drive direct sales through interactive product links displayed during the stream. Sellers can promote their Amazon Live sessions through social media, email marketing, and even by using Amazon’s advertising options to attract more viewers.

3. Collaborate with Amazon Influencers

Amazon has its own influencer program where content creators can earn commissions by promoting products to their followers. Sellers can partner with relevant influencers to showcase their products, provide reviews, and drive traffic to their listings. Influencer collaborations can help sellers tap into new audiences, increase brand awareness, and generate social proof for their products.

4. Explore Amazon Attribution 

Amazon Attribution is a tool that allows sellers to measure the impact of their advertising campaigns outside of Amazon, such as on social media, email marketing, or third-party websites. By using unique tracking links, sellers can gain insights into how their off-Amazon marketing efforts contribute to sales and conversions on the platform.

This data can help sellers optimize their overall advertising strategy and allocate budgets more effectively across various channels.

5. Experiment with Amazon’s New Ad Formats

Amazon continuously introduces new ad formats to help sellers engage with customers in innovative ways. For example, Sponsored Brands Video ads allow sellers to showcase their products through short, engaging video content that appears in search results.

Sellers can also explore options like Sponsored Display ads on the Amazon Alexa home screen, which can reach customers using Echo Show devices. Staying up-to-date with Amazon’s latest ad formats and experimenting with them can give sellers a competitive edge and help them stand out from the crowd.

How Canopy Management Can Help

Amazon advertising has for a long time offered ways to help you unlock growth potential and stand out in a competitive marketplace. Over the last year, the platform has grown exponentially. 

That’s both good and bad. It’s also where the Amazon advertising experts at Canopy Management come in. 

What would adding 67% more organic sales mean for your brand?

Turns out that when you combine the massive experience of Canopy’s Amazon Experts with smart tools and tech, you get industry-leading results like this:

• 84% Average Year-Over-Year Profit Growth for Our Partners
• 2.7 Billion in Revenue Managed
• 99.1% Partner Retention Rate

Canopy Management is a full-service marketing agency for Amazon and Walmart sellers. Our team consists of former Amazonians, multi-million dollar sellers, and award-winning experts.

When you consider the many ways that Canopy Management can help you grow your business, you’ll see why selling on Amazon is much easier “under the Canopy.”

• Strategic Growth Planning
• Listing Copywriting Optimization
• Listing Photography
• Product Videography
• Advertising Management
• Customer Service
• Demand Side Platform (Amazon DSP)
• Amazon Posts
• Full Service Management
• Amazon Review Aggregation

The post 5 Overlooked Advertising Strategies to Supercharge Your Amazon Sales appeared first on Canopy Management.

This brings the tech giant’s total funding in Anthropic to $4 billion, making it Amazon’s most significant venture investment to date. It’s pretty clear that Amazon is fully committed to AI. As an Amazon seller, it’s probably a good idea to determine what this means for your business and how you can capitalize on the opportunities it presents.

Anthropic, a rival of OpenAI – ChatGPT’s parent company – is renowned for its advanced generative AI technologies. Over the past year, the startup has closed five funding deals worth about $7.3 billion, and with Amazon’s latest investment, that total now exceeds $10 billion. 

This strategic partnership is a win-win for both companies: Anthropic gains a massive cash infusion and access to Amazon’s cloud infrastructure (AWS) for training and running its future models, while Amazon secures preferential access to Anthropic’s next-gen AI for its Amazon Bedrock service.

What does this new era of AI-powered ecommerce mean to you as an Amazon seller? Let’s take a closer look at the key takeaways and explore how you can position your brand to thrive in a marketplace that’s undergoing a period of unprecedented change.

10X Your Ecommerce Tools with AI

One of the best things about the powerful software tool suites offered by established software as a service (SaaS) companies like Helium 10 and Jungle Scout is the way that the effectiveness of each individual tool is greatly magnified when used together. 

That’s a big reason why Amazon’s investment in Anthropic stands out. It’s hard to overstate the potential of integrating Anthropic’s advanced AI capabilities into – well, let’s just say, everything! 

Imagine having access to cutting-edge AI-powered tools for product research, shipping, fulfillment, listing optimization, pricing, inventory management and more.  

By leveraging AI’s ability to create an underlying architecture for these tools, you could gain a significant competitive advantage and make data-driven decisions that drive growth and profitability.

To best capitalize on this opportunity, it’s crucial to stay informed about new AI offerings from Amazon and adapt your strategies accordingly. Be proactive in exploring and experimenting with these tools as they become available. Take the time to measure their effects, and impact on your key performance indicators (KPIs). 

Embrace AI early and effectively and you’ll perfectly position your brand at the forefront of this technological revolution!

Personalize Customer Engagement

Another key area where a partnership between Anthropic’s AI and Amazon could impact your ecommerce brand is with customer engagement and personalization. 

Using the power of advanced AI, Amazon could offer more sophisticated product recommendations, tailored content, and personalized experiences that drive customer satisfaction, conversion rates, and lifetime value.

As an Amazon seller, this means that optimizing your product data and content will be more important than ever. By providing high-quality, detailed information about your products, you can help Amazon’s AI algorithms better understand and promote your offerings to the right customers at the right time. 

Additionally, by leveraging AI-powered personalization features as they become available, you can differentiate your brand through superior customer experiences that generate loyalty and repeat purchases.

Future Proof Your Ecommerce Brand

Amazon’s investment in Anthropic is part of a broader AI arms race among tech giants like Microsoft, Google, and Nvidia. All companies making significant investments and acquisitions in the AI space. As these pivotal companies compete for dominance, we can expect to see rapid advancements in ecommerce-focused AI, with new tools and capabilities emerging at an unprecedented pace.

For Amazon sellers, this means that the competitive landscape is likely to shift quickly and unpredictably. To stay ahead of the curve, you’ll need to be agile and adaptable, ready to pivot your strategies and tactics as new AI-powered solutions come to market. 

This may require investing in ongoing education and skills development for yourself and your team, as well as building partnerships with a technologically advanced Amazon agency that can help you navigate this dynamic landscape.

Amazon’s bet on Anthropic could have far-reaching consequences for the Amazon selling landscape as a whole. As AI becomes increasingly central to success on the platform, we may see a widening gap between sellers who are quick to adopt and leverage these technologies and those who are slower to adapt.

At the same time, AI has the potential to level the playing field for smaller sellers by automating tasks, optimizing processes, and enabling more efficient use of resources. By developing a strong AI strategy and investing in the necessary skills and tools, even mom-and-pop businesses can compete effectively in this new era of AI-driven ecommerce.

AI is Here to Stay – Next Steps for Amazon Sellers

Like it or hate it, artificial intelligence is here to stay. Given the volatility of Amazon’s marketplace, cutting-edge AI technology is in a perfect position to place an enormous finger on the scale. 

Maybe, you simply want to weather the storm. Or, you’d like to be at the forefront of this watershed moment. In either case, here are a few key pieces of practical advice to position your brand in the coming year:

Stay Informed 

Regularly monitor announcements, attend webinars, and participate in beta programs to gain early access to new tools and features. Understand how Amazon changes to their AI platform can benefit your business. 

Keep Experimenting 

Continue to experiment with new AI-powered tools as they become available, and measure their impact on your KPIs. Be willing to test and iterate to find the approaches that work best for your unique business.

Optimization is Key 

To take full advantage of AI-driven personalization – and like listing optimization and pay per click advertising – a high degree of – optimization is paramount. Ensure that your listings are complete, accurate, and rich with relevant keywords and details.

Develop Your AI Skills

Invest in developing AI skills and knowledge within your team. Encourage ongoing learning and provide resources and training to help your staff stay up-to-date with the latest AI trends and best practices.

Hire an AI Professional

If you’re not the smartest person in the (AI) room, hire someone who is! This strategy fuels the explosive growth of Amazon’s most successful sellers. An Amazon Agency that’s embraced AI technology has the experience to supercharge your ability to learn and implement the latest AI-infused marketing and sales processes.

How Canopy Management Can Help

Amazon’s historic investment in Anthropic is a clear signal that AI will probably have an outsized role in reshaping the future of ecommerce and the Amazon seller landscape. As competition among tech giants heats up, we can expect to see rapid advancements in AI capabilities and a proliferation of new tools and services designed to help sellers optimize their businesses.

These are changes that are happening right now. 

Canopy Management is powered by human ecommerce experts, and amplified by proprietary technology. Artificial intelligence is just part of this process, and an important way that our team synergizes our global marketing and advertising strategies. 

If you’re looking to get started on your AI journey but aren’t sure where to begin, our team at Canopy Management is here to help. We’re offering free brand assessments and strategy sessions for Amazon sellers looking to leverage cutting-edge technologies to drive growth and success. 

Contact Canopy today to schedule your session and take the first step towards an AI-powered future.

The post Amazon’s Billion-Dollar Bet on Anthropic: What It Means for Amazon Sellers appeared first on Canopy Management.

But with a diverse spectrum of influencers, from grassroots micro influencers to celebrity-status macro influencers, how does a brand choose? 

Or, is there a way to take advantage of the strengths of both?

What Exactly are Ecommerce “Influencers?”

For the purposes of this post, let’s say that ecommerce influencers are individuals who have established credibility, expertise, or a significant following in a particular niche or industry. They then leverage that expertise on social media platforms, blogs, or other digital marketing channels. 

Their perceived authenticity and the trust they’ve built among their audience position them uniquely to shape opinions, trends, and purchase decisions. For ecommerce sellers, influencers act as force multipliers in bridging the gap between your brand’s online store and potential customers. 

They can provide organic exposure, leverage social proof, present products in relatable contexts, and drive targeted traffic to online stores. By collaborating with influencers, ecommerce sellers can tap into the influencer’s ready-made audience, generate brand awareness, enhance brand image, and ultimately, boost sales. 

With the influencer marketing industry set to grow to approximately $21.1 Billion in 2023, if it’s not on your radar now, it probably will be soon.

What are Macro Influencers? 

When we think of influencers, it’s easy to go right to the celebrity-sized macro influencers like the Kardashians, Beyonce, or Gwyneth Paltrow. 

Macro influencers are prominent figures with a massive following, typically ranging from 100,000 to several million followers across their digital platforms. Due to their extensive reach, they’re often celebrities, industry leaders, or internet personalities recognized even outside their specific niches. 

Let’s begin by pretending that collaborating with a macro-influencer is possible. What would an ecommerce seller receive from that relationship? 

For an ecommerce business, partnering with macro influencers can mean rocketing into the limelight, providing broad visibility and wide-reaching awareness in relatively short timeframes. While their endorsements might not always have the intimate and personal touch characteristic of micro influencers, the scale of exposure they offer is unmatched. 

If it’s in your content marketing budget . . .

Why Macro Influencers Might Be the Right Choice

• Wide Reach: If brand visibility is the primary goal, macro influencers can project your brand to a broad audience swiftly.
• Professionalism: Many macro influencers operate with a team, ensuring quality content and strategic collaborations.
• Brand Recognition: Associating with a well-known influencer can enhance your brand’s reputation and prestige.
• Diverse Audience: For ecommerce brands looking to tap into various market segments, macro influencers provide a broader spectrum of followers.

What Are Micro Influencers? 

As fun as it might be to imagine a Kardashian repping your new Amazon salad spinner, micro influencers are – for most ecommerce sellers – not only more realistic, they’re also more relatable AND effective in pointing shoppers to your virtual brand store. 

Micro influencers are individuals who, though they may have a smaller follower count—typically between 1,000 to 100,000—exhibit a strong connection and influence within their specific community or niche. 

What they might lack in the sheer volume of followers compared to larger influencers, they make up for in terms of engagement, trust, and authenticity with their audience. For ecommerce sellers, collaborating with micro influencers can be a particularly effective move. 

Due to their concentrated and often highly-engaged follower base, micro influencers can offer a more genuine and relatable promotion of products, resulting in a higher likelihood of audience conversion. 

The power of micro influencers lies in their close-knit community dynamics where recommendations feel more like advice from a trusted friend rather than a broad advertisement.

Why Micro Influencers Might Be the Right Choice

• High Engagement Rates: Studies reveal that as an influencer’s follower count rises, their engagement rate typically drops. Micro influencers, due to their close-knit community, often register higher engagement.
• Cost Efficiency: Collaborating with micro influencers can be significantly more budget-friendly than macro influencers, offering brands a higher return on investment.
• Authenticity: Micro influencers’ content often feels more genuine, making their endorsements more believable and relatable.
• Targeted Audiences: If your ecommerce brand caters to a niche market, micro influencers can provide direct access to your target audience.

Let’s Not Forget Nano-Influencers

A recent report has made clear that there’s a groundswell of enthusiasm for ever smaller niche influencers referred to as nano-influencers. 

Nano-influencers can simply be everyday social media users, with anywhere from 100 to 10,000 followers. They’re not “professional,” with the majority of their posts featuring everyday content such as family photos, or memes.

Reports continue to indicate that there is a strong preference for working with small (nano – 39% and micro – 30%) influencers ahead of expensive macro-influencers (19%) and celebrities (12%)

A Kardashian, or a Nano Influencer? Here’s How to Decide

OK, not many of you are going to be reaching out to Kim, Khloe, or Kourtney for a recommendation. Still, deciding on the size of an influencer to collaborate with is a critical decision for an ecommerce brand. 

The choice often hinges on a jumble of factors. Just like choices that Amazon sellers might make regarding their pay per click advertising, strategically employing Amazon ads is a balancing act. Sponsored Products ads might help you sell a single product, Sponsored Brand ads are going to promote your entire Amazon catalog. And, with Amazon advertising – and influencers – it’s usually not one or the other, but a blend of both. 

Here’s a closer look at a checklist that might help an ecommerce brand determine which size influencer to engage:

Brand Objectives & Goals

Awareness: If the primary goal is to generate widespread awareness about a new product or brand, then macro influencers with their vast reach can be the ideal choice.

Engagement & Trust: For brands seeking to cultivate trust and foster deep engagement, micro influencers, due to their close-knit and niche following, can be more effective.

Budgetary Considerations

Investment Size: Macro influencers, given their celebrity status and vast reach, generally command higher collaboration fees. Brands with a substantial budget might find them suitable.

Cost-Efficiency: Micro influencers often offer a more favorable balance between cost and engagement, giving brands more bang for their buck in terms of genuine interactions.

Target Audience

Niche vs. Broad Markets: Brands targeting a specific niche or demographic might find more value in micro influencers who cater directly to that segment. In contrast, those aiming for a broader appeal might lean towards macro influencers.

Authenticity & Credibility

Brands that prioritize genuine, authentic endorsements might find a better alignment with micro influencers. Their recommendations often feel more personal and trustworthy to their followers.

Content Quality & Professionalism

Many macro influencers have professional teams crafting their content, ensuring high-quality visuals and strategic messaging. If premium content is a priority, they might be the preferred choice.

Duration & Longevity of the Campaign

Short-Term Spikes: For brands seeking a rapid surge in visibility, macro influencers can offer immediate, wide-reaching exposure.

Long-Term Engagement: Brands looking for sustained engagement over a more extended period might benefit more from collaborations with micro influencers.

Analytical Metrics & KPIs

Brands should clearly define key performance indicators (KPIs) for their campaigns. Metrics like engagement rate, conversion rate, and ROI can offer insights into which influencer size aligns with the brand’s goals.

Risk Management

Macro influencers, due to their broader visibility, might attract both positive and negative attention. Brands must assess the potential risks associated with aligning with a significantly public figure.

The Fusion Approach: Blending Micro and Macro

As I mentioned above, with ecommerce – as with most things in life – it’s a question of calibrating your strategy to fit the specific use case. That’s why adopting a multifaceted influencer strategy offers the best of both. This fusion approach involves taking advantage of the strengths of both micro and macro influencers. 

Here’s an expanded look at how this integrated approach can benefit brands:

Diverse Audience Reach

Depth and Breadth: By collaborating with micro influencers, brands can deeply penetrate niche markets and cultivate strong community ties. Simultaneously, macro influencers allow brands to cast a wider net, reaching diverse demographics and expanding the overall audience of your ecommerce store.

Balanced Budget Allocation

Cost-Effective Engagements: Micro influencers, while cost-efficient, provide high engagement rates, making every dollar count in terms of genuine interactions.

Investment in Broad Visibility: While macro influencers might come with a heftier price tag, the expansive reach and brand prestige they offer can justify the investment.

Enhanced Authenticity and Credibility

An ecommerce entrepreneur can take advantage of the authenticity and close-knit community trust that micro influencers offer, while also leveraging the credibility and recognition associated with prominent macro influencers.

Strategic Content Diversification

Varied Content Styles: Micro influencers often offer relatable, grassroots-level online marketing content. That resonates with audiences on a personal level. Macro influencers, on the other hand, with their professional content teams, can deliver polished, high-quality content, adding a layer of sophistication to the brand’s image.

Risk Diversification

Engaging with a blend of influencers minimizes the risk associated with putting all eggs in one basket. Should a campaign with a macro influencer face challenges, the consistent engagement from micro influencers can act as a safety net.

Sustained Brand Narrative

By blending both influencer types, brands can ensure a consistent and sustained brand narrative. While macro influencers can create significant initial buzz, micro influencers can keep the momentum going, ensuring long-term brand conversations and engagements.

Feedback and Adaptability

Micro influencers, due to their tight-knit communities, can provide more immediate and candid feedback on products or campaigns. This grassroots feedback can be invaluable, and allows brands to tweak strategies in real-time. Macro influencers, with their broader audience, can offer insights into the wider market perception.

How Canopy Management Can Help

In the ever-evolving digital landscape, ecommerce brands need to stay agile and adapt to stay relevant. That’s where the Amazon Experts at Canopy Management come in. Social commerce features such as influencer marketing, TikTok, and Livestream selling are just a few of the ways that the Canopy team can help make sure your digital marketing is up to date.

What would adding 67% more organic sales mean for your brand?

Turns out that when you combine the massive experience of Canopy Management with smart tools and tech, you get industry-leading results like this:

• 84% Average Year-Over-Year Profit Growth for Our Partners
• 2.7 Billion in Revenue Managed
• 99.1% Partner Retention Rate

Canopy Management is a full-service marketing agency for Amazon and Walmart sellers. Our team consists of former Amazonians, multi-million dollar sellers, and award-winning experts.

When you consider the many ways that Canopy Management can help you grow your business, you’ll see why selling on Amazon is much easier “under the Canopy.”

• Strategic Growth Planning
• Listing Copywriting Optimization
• Listing Photography
• Product Videography
• Advertising Management
• Customer Service
• Demand Side Platform (Amazon DSP)
• Amazon Posts
• Full Service Management
• Amazon Review Aggregation

The post The Influencer Effect: How to Use Social Commerce to Supercharge Brand Engagement appeared first on Canopy Management.

As artificial intelligence (AI) continues to transform the retail landscape, Amazon Bedrock has emerged as a game-changing solution that empowers sellers to unlock new levels of efficiency, innovation, and growth. 

This cutting-edge generative AI platform offers a comprehensive suite of tools and technologies specifically designed to help enterprise-level sellers optimize their operations, streamline processes, and make data-driven decisions. 

This post focuses on how businesses can leverage the power of Amazon Bedrock to revolutionize their ecommerce strategies and dominate an ever-evolving, increasingly competitive digital marketplace.

Key Features of Amazon Bedrock

One of the standout features of Amazon Bedrock is its access to leading foundation models. These pre-trained models serve as the building blocks for creating AI applications, saving developers countless hours of training time. 

Bedrock also offers unparalleled customization and scalability. This makes it possible for businesses to tailor their AI solutions to their specific needs and seamlessly scale them as their requirements grow. The Bedrock platform boasts seamless integration capabilities, enabling smooth incorporation of AI functionalities into existing enterprise systems.

Building AI Applications with Bedrock

Creating generative AI applications with Amazon Bedrock is a straightforward process that caters to both experienced developers and those new to the field. The platform provides intuitive interfaces and comprehensive documentation, making it easy to get started. 

Whether you’re looking to build chatbots, content generators, or image recognition systems, Bedrock offers a wide range of possibilities. Some potential use cases include personalized customer support, automated content creation for marketing, and intelligent document processing for streamlined workflows.

Advanced Tools and Technologies

Under the hood, Amazon Bedrock is powered by cutting-edge tools and technologies that push the boundaries of what’s possible with AI. One notable feature is Retrieval Augmented Generation (RAG), which enhances the accuracy and relevance of generated content by leveraging vast knowledge bases. RAG allows AI models to retrieve and incorporate relevant information on the fly, resulting in more contextually aware outputs. 

Additionally, Bedrock enables the creation of sophisticated agents capable of handling complex tasks and decision-making processes, opening up new avenues for automation and intelligent assistance.

Security and Compliance

As more businesses entrust their data and operations to AI platforms, security and compliance have become buzzwords and a sticking point for a lot of similar technology. Amazon Bedrock prioritizes data protection and privacy, implementing robust measures to safeguard sensitive information.

The platform adheres to industry-standard security protocols and offers granular access controls, ensuring that only authorized personnel can access and manipulate data. Importantly, it appears that Amazon is committed to responsible AI practices, actively working to mitigate bias and promote fairness in AI models. This dedication to ethical AI sets Bedrock apart and instills confidence in its users.

How Does Amazon Bedrock Compare with Other AI Platforms?

In the competitive landscape of AI platforms, Amazon Bedrock stands out for its comprehensive feature set, ease of use, and seamless integration capabilities. While other platforms may offer similar functionalities, Bedrock has distinguished itself through its access to state-of-the-art foundation models and its ability to scale effortlessly. 

So far, user feedback has been overwhelmingly positive, with developers praising the platform’s intuitive interface, extensive documentation, and responsive support. As more businesses adopt Bedrock, it’s in a very good position to become a leader in the AI market.

Empowering Enterprise-Level Entrepreneurship with Bedrock

If you’re an enterprise-level ecommerce seller, the integration of Amazon Bedrock into your global business strategies can be a game-changer. By leveraging the power of generative AI, you can optimize your operations, enhance customer experiences, and gain a competitive edge in the crowded online marketplace.

One key application of Bedrock is product content generation. With the platform’s advanced natural language processing capabilities, you’re able to automate the creation of compelling product descriptions, titles, and bullet points. 

This not only saves time and resources but also ensures consistency and quality across a vast product catalog. By generating engaging and informative content at scale, you can improve your product visibility and conversion rates.

Another area where Bedrock can make a significant impact is in customer support. By building intelligent chatbots powered by Bedrock’s foundation models, you will be able to provide instant and personalized assistance to customers. 

These AI-driven chatbots have the capability to handle a wide range of inquiries, from product recommendations to order tracking and returns processing. By delivering prompt and accurate responses, you can enhance customer satisfaction and loyalty, ultimately driving repeat business and positive reviews.

Training AI models to analyze customer feedback and reviews can also help you gain valuable insights into product performance, customer preferences, and areas for improvement. This data-driven approach enables you to make informed decisions, optimize your product offerings, and proactively address customer concerns.

Scaling Your Business with Amazon Bedrock

Amazon Bedrock has the potential to be utilized for inventory management and demand forecasting. By analyzing historical sales data and market trends, AI models can predict future demand and help you optimize your inventory levels. 

Ensuring that popular products are always in stock minimizes the risk of overstocking slow-moving items. This streamlining of inventory management helps to reduce costs, improve cash flow, and enhance overall operational efficiency.

And, as your business grows, the ability to customize and scale Amazon Bedrock will become increasingly valuable.

The platform allows you to tailor your AI applications to your specific needs. It’s possible to integrate with existing ecommerce platforms, customize chatbot responses, and fine-tune content generation models. This flexibility makes it possible to create AI solutions that align with your brand voice, target audience, and business objectives.

How Canopy Management Can Help

To the team at Canopy Management, it’s clear that Amazon Bedrock is an incredibly powerful tool that can revolutionize the way enterprise-level Amazon sellers will be able to thrive in the ecommerce space. 

That’s one reason we’re excited about the possibilities that this innovative platform offers to large-scale sellers looking to take advantage of Amazon’s unsurpassed marketplace. By harnessing the unsurpassed potential of generative AI, new Amazon sellers can quickly streamline their processes, enhance customer engagement, and make data-driven decisions. 

AI is going to become increasingly crucial for online businesses. Amazon Bedrock offers a comprehensive and scalable solution that’s perfectly designed to help sellers incorporate AI to unlock new levels of growth and success in the ever-evolving world of ecommerce.

If you’d like to learn more about how Canopy Management can help your business get started on Amazon, we’re here to help.

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