17 June 2021
Building successful marketplace strategies on Amazon: Creativity
The Amazon marketplace has seen incredible growth over the last 12 months, launching in multiple markets and onboarding over 1 million sellers.
For consumers the breadth of choice has never been so varied and with over 55% of all product searches now taking place on Amazon. For brands, the behemoth has become the epicentre of brand exposure and opportunities are significant.
Competition within the marketplace is fierce for both Vendors and Sellers. Not only do brands have to compete with each other for market share, they have to compete with the increasing volume of re-sellers, which last year equated to 50% on new seller onboardings. Amazon supply tools through Amazon Brand Services to keep re sellers in check and to make sure your brand guidelines are adhered to. The platform has become more brand friendly over the last couple of years and brands need to take advantage of all the tools at their disposal.
A recent survey run by Accenture suggests 81 percent of consumers who bought a named brand product on Amazon recalled the product detail page (PDP) three months later. Yet only 28 percent remembered the television commercial. We are not stating a case for brands to move money out of TV into marketplaces like Amazon, we are just suggesting that brands need to approach their Amazon strategy with creativity at the heart.
At Maze-One we recently ran an eye tracking survey. The results gave our clients a clear overview of which elements of their content they needed to optimise. As you’d expect given our experience and knowhow in the digital marketplace, a lot of the research findings confirmed what we already believed. However, there were surprises. The first being around price. Amazon is known as a price-driven platform, but the research showed price was only a secondary concern for customers, after product quality and appearance.
Another, less surprising but emphatic insight was the importance of creativity. Essentially, the more visual and creative your listing are the more attractive it is to the customer… Makes sense.
If you would like to know more about the results, then please get in touch. In the meantime, we leave you with a quote from the great Advertising Executive John Hegarty the founder of BBH, TBWA and a Saatchi & Saatchi founding share holder
“Technology is a delivery system – you just have to make sure what you’re delivering is memorable and motivating.”