The 1st month of Q1 has ended, and so is the holiday season.
The festive season might have been a boon for your business, but the New Year brings with it new challenges and customer behavior.
As a business owner, you need to be prepared to face the new year with a bang.
And to help you with that, we’ve come up with 10 tips to survive Q1 on Amazon.
#1: Perform a Gap Analysis and Establish a Roadmap
The first step in surviving Q1 is to understand your past performance. Look back at the spikes, dips, and flaws of your business in the last year and perform a gap analysis.
This will give you an idea of what worked and what didn’t and help you avoid the same pitfalls this year.
#2: Fine-Tune Your Ad Bids and Daily Budget
The conversion rates in Q1 tend to decline compared to Q4, and that’s why it’s essential to adjust your advertising spending.
Start by cutting down on your advertising spending and fine-tuning your ad bids and daily
budget.
#3: Remove Holiday-Related Keywords from Your Listing
Keywords related to the holiday season such as “best gift for Christmas” or “holiday gift for her” should be removed from your listing.
Focus on the best-performing keywords instead.
#4: Spin Your Products to Fit into the “New Year, New Me” Spirit
The best way to keep the sales momentum going from Q4 to Q1 is to ensure that your products remain relevant to the customer’s new year resolutions.
Spin your products so that they fit into the “New Year, New Me” spirit.
#5: Revert Back to Your Original Creatives
If you redesigned your images for the holiday season, it’s time to redesign them relevant to the new year. Revert back to your original creatives and make them relevant to the new year.
#6: Double Your Marketing Efforts
At the start of the new year, customers set new year resolutions, and if your product targets these resolutions, it’s time to boost your marketing campaigns.
Double your marketing efforts and reach out to more customers.
#7: Stay on Top of Returns
The return rate after the holidays is 8%. Keep track of the refunds initiated vs. items returned to the warehouse to ensure everything is in order.
#8: Retarget Your New-to-Brand Customers
During Q4, your brand might have seen an influx of new customers. Now it’s time to reconnect with them. Send them emails about new product launches and upcoming discount offers.
#9: Fix What You Couldn’t in Q4
Q4 shopping season is over, and you’ll have plenty of time to optimize your listings, create new Premium A+ Content, build storefronts, and design images. Use this time to fix what you couldn’t in Q4.
#10: Don’t Compare Your Q1 with Q4
Last but the most important tip, do not base your sales expectation for Q1 on Q4. Instead of comparing it with Q4, compare it with 2022’s Q1.
This will help you have a clear expectation and avoid disappointment.
