Motivation Monday: Don’t Let Your Competitors Scare You
We hear from Amazon sellers every day who are intimidated and overwhelmed by their competition on Amazon. They feel like there’s no way that they can compete against the big brands who already have a following when they are just getting started. This type of thinking is something we like to call a scarcity mentality. It’s the idea that you have to either win everything or you get nothing.
Let me tell you a little secret about SCARCITY MENTALITY…it will not make you money! While you are spending so much energy worrying about someone else, you could use that energy to focus on improving your listings and growing your traffic. So promise me you’ll switch your energy to something that is worth your time, right now! Got it?
I guarantee your competitor is not doing everything right on Amazon and there’s plenty of room for opportunity for YOU to shine. Don’t worry about what they are doing, but instead let them educate you on what’s working and not working for customers, and take that information to improve your listing.
Here’s how to put this motivation into action: go to the listing of a competitor who intimidates you. Then, you’re going to make an old-fashioned list of pros and cons. First, write down all the things that you love about their page, their product, and their engagement. Do they have great images? Are they really personal when responding to questions? Are their bullet points engaging?
Next, put on your customer hat and write down all the things that you’d feel their listing is lacking if you were looking to purchase their product. Are there too many keywords stuffed into their description? Is their product missing any key components that your product offers? Are their images sterile? What are customers saying in the reviews about where this product fails to deliver?
Now take a look at your product. I guarantee that your product has a UVP or unique value proposition. What makes your product stand out? What problem does your product solve that your competitors’ product doesn’t?
Finally, go back to your listing and look at it from the perspective of a brand new customer. Do they fully understand the VALUE and BENEFITS of your products? Do they know how their life will change when they buy it? Are your bullet points highlighting not just the features, but the benefits? Once you ask yourself those honest questions, make the changes that create a clearer reflection of your brand. Once you do that, you can feel confident that you came to compete no matter who you are up against.
If you want more information about what you can learn from your competitors, check out a recent episode of our podcast, Playbook for Amazon. In Episode 9, we cover “How to Study Your Competitors to Beat Them”.