Launching a New Product on Amazon with Marketplace Strategy
Launching a new product on Amazon is an involved process. Each situation is unique and the steps brands need to take can vary widely depending on the category and a host of other factors. In this blog post, we share how Marketplace Strategy (MPS) worked with Darice to overcome production hurdles and facilitate a product relaunch.
A Summary of Challenges
Not every product launch on Amazon is spearheaded by obstacles or urgency. However, this was the case for Darice, an MPS client. Darice sold a popular product that delivered a large amount in Ordered Revenue per year through Amazon until production halted indefinitely.
Both first- and third-party sellers were affected. It was a priority for MPS to work with Darice after finding a new manufacturer to launch a new version of this product.
How Did Marketplace Strategy Help?
Finding a new manufacturer to rebuild inventory was the first step for Darice to recover. Next, MPS stepped in and essentially started from scratch when it came to launching the new product on Amazon. It was a process that required a nimble team with specific strategic knowledge about the behavior of new products on the channel.
Right away, the creative team at MPS created new product images and an A+ page to ensure page views would be met with a high conversion rate immediately upon launch. This was made possible because the client provided lifestyle images that were easy to apply to the product’s image library and A+ page. Once pages were considered ‘buyable,’ the advertising team utilized the existing keyword strategy from the discontinued product to save time and capitalize on existing momentum. The goal was to help the new product gain initial traffic and kickstart Amazon’s flywheel.
In addition, MPS leveraged Vine Reviews to begin earning trusted and authentic reviews. To supplement this tactic and take advantage of reviews, sales history, and velocity, MPS variated the old and new products. Once the product was able to stand on its own, MPS was able to remove the variation.
Key Takeaways from the Experience
Darice was at an advantage over the other impacted competition because of its partnership with MPS. Since Darice was armed with a strategic partner, the brand could prepare for launch, invest in advertising, and capitalize on the gap in the market before competitors could fill the vacuum.
From the Client
“This product had been a top seller on Amazon, so when we learned we needed to create a new item we were apprehensive about what would happen to our sales. MPS implemented a strategy to quickly get the product back on top and earn an Amazon’s Choice badge. Their expertise allowed us to not only regain our position but to further drive sales.”
Launching a product on Amazon can be a challenge, especially when it’s unexpected. Having a strategic partner on your side can protect your brand and allow it to remain competitive in the face of adversity.