- Understand your brand’s pain points
What are the problems that you are currently facing with your Amazon FBA Brand? Maybe you are working on other projects and don’t have enough time to optimize your listing or ads. Or perhaps you are facing problems with your suppliers, causing your products to go out-of-stock.
Whatever the pain points are, it is crucial that you understand the pain points and explain them to the potential buyer. Every business has problems and the buyer will understand that – just be honest about them from the very beginning.
- Get rid of products that are not performing well
The 80-20 rule, also known as the Pareto Principle, is an aphorism that asserts that 80% of outcomes result from 20% of all causes. In business, a goal of the 80-20 rule is to identify inputs that are potentially the most productive and make them the priority. Apply the 80-20 to your product catalog – many buyers are looking for revenues generated from a few concentrated SKUs as opposed to large catalogs of products.
Having old stock that you are struggling to sell can be an obstacle during the business sales process. Go through your products and focus on what is making money and drop everything else.
3. Focus on one niche category
Focusing on one niche category makes your Amazon FBA business more attractive to buyers. For example, by only selling fishing related products, you can focus on understanding a specific audience and create a deep understanding of your customers.
It is also easier to build up an inventory of related products with only a few suppliers that customers might appreciate, resulting in repeat sales and cross-sales, larger checkout totals, and of course, a stronger brand image.
- Optimize your Amazon store
Amazon’s A9 algorithm is designed to improve the ranking of products that receive a high amount of high-quality traffic.
Before selling your Amazon FBA business, optimize your Amazon store is by using the right keywords in your product listing, high-quality images, concise bullet points, an optimized product title, and an informative description. This way, you will get more sales that will increase the value of your Amazon FBA business.
- Join Amazon Brand Registry
Being a brand-registered member comes with a lot of benefits. It gives you greater control over your listing page, protects you from copycat sellers, and gives you access to Amazon A+ content.
Buyers prefer Amazon FBA businesses that are brand registered as it gives them confidence that they are buying a high-value business.
- Expand your business globally
This is an easy way to increase the value of your Amazon FBA business as it doesn’t require considerable investment.
Amazon has 17 global marketplaces, so if you are selling only in a few marketplaces, expanding your brand’s best-selling products to more marketplaces is an easy way to increase the revenue and ultimately the value of your brand.
- Establish a secure supply chain
A secure supply chain is the lifeline of an Amazon FBA business. Along with helping you to win customer’s trust, it allows you to fulfill your orders promptly.
Therefore, establishing a great relationship with suppliers will increase the value of your Amazon business when the time for selling comes.
- Get more reviews
Amazon shoppers prefer buying from businesses with a high number of reviews and positive feedback. The best ways to get more reviews is to offer excellent service, incentivize customers to leave reviews, and requesting reviews from customers through automated messages.
- Open communication with the potential buyer
The best way to understand what your potential buyer is looking for is to communicate openly with them. Book a meeting and have an honest conversation with them to truly understand what type of brands they are looking for.
The buyer will most likely give you some good tips on how to improve the value of your brand, as this will lead to a win-win situation for both parties – you and the buyer.
- Build a community outside of Amazon
Leverage platforms like Instagram, Facebook, Twitter, Reddit, and YouTube to drive traffic to your Amazon store, increase trust, and generate reviews. This improves the credibility of your brand, making it attractive to the widest pool of buyers.
There you have it. These are the 10 practical ways to increase the value of your Amazon FBA business.