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Selling at premium prices on Amazon

Kennedell Amoo-Gottfried
February 24, 2022
September 16, 2022
Selling at premium prices on Amazon

People like a bargain, and price is just about always the main point of differentiation in any transaction. When the criteria for the sale gets more qualitative in nature, however, price is no longer the principal selling point, and you have to look elsewhere to make your product stick out in the crowd. 

The higher you get up the price list, the more focus is placed on quality and craftsmanship, attributes for which there is a thriving market. Your product must compete not just against others in the same price bracket, but against similar items with more competitive prices, so how can you make people choose you over your rival brand?

Once price goes out the window, it also makes it harder to compete just on product specs, on the functional appeal - you also have to go back to the basics of marketing and cranking up the emotive appeals with all tools at your disposal. 

Brand focus

Getting seen at the top end of the price range means telling your brand story effectively. It means making use of all space available to you on Amazon’s platform to familiarize shoppers with your product line. 

Don’t just show shoppers the product or specifications, but where the products fit into their lives. Putting effort behind your use of imagery will be a huge differentiating factor here - if you are selling a quality product, you better make sure that how it is portrayed visually on the page is of similarly high quality, otherwise do not expect people to part with their money. 

Investing in good A+ content will go a long way. Even the basic version - free to use for all brand owners approved under the Amazon Brand Registry - provides an excellent suite of tools to showcase your wares.  

“Basic+” content gives five modules, through which you can make more use of text, images, comparison charts and videos to create a more immersive brand experience. The paid version allows up to seven modules, more links across Amazon, and carousel displays. 

This will make your Amazon brand store look as professional as possible and make it more likely to keep it in the shortlist as buyers weigh their options. Remember, the higher the price, the more convinced the buyer needs to be about their purchase, so put resources into making that happen.

Increasing visibility

When writing copy for premium products, keep SEO and keywords at the front of your mind to make your page as easy as possible to find - make your products more searchable than theirs. Amazon already operates one of the most efficient commerce-driven search engines on the internet, powered by its A9 algorithm, the optimization of which will give you an edge over competition that disregards it. 

The A9 considers more than just the text you use - which, of course, need to be relevant to be effective on a search plane, especially for titles - but the comprehensive customer experience will feed back into how visible your brand is. The velocity of your sales, availability of your stock, quality of reviews, 

Existing pay-per-click Amazon services like Sponsored Products and Sponsored Brands are likely to make a noticeable difference in traffic flow to your page. Sponsored Products, in particular, is Amazon’s most lucrative advertising product for a reason - it attracts eyeballs where you want them to go. 

Using past sales as a marketing tool is also a very effective way to convert new sales.The experience of past buyers will be a major selling point for new buyers, so getting reviews from existing customers - already a valuable resource for any product -  becomes crucial when you’re selling high-end items where price is a lesser factor. 

Beyond just encouraging reviews organically, Amazon offers a useful service in its Early Reviewer Program, through which sellers can pay to invite verified buyers to submit reviews for selected SKUs - this is especially useful when launching a new premium product. 

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Threecolts acquires, launches, and grows eCommerce software & services, and owns other stellar businesses including Old Street Media, HotShp, SellerBench, Tactical Arbitrage, Bindwise, RefundSniper, ChannelReply, and FeedbackWhiz.

Old Street Media supports businesses with their advertising, inventory management, and other eCommerce services. We collaborate with over 4000 brands and have generated $600M in sales in the past year.

Reach out to HotShp for help with product titles, descriptions, bullet points, social posts, and blog posts.

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If you are more interested in the #1 Amazon Arbitrage software, try TacticalArbitrage. With over 6,000 users, TacticalArbitrage will help you discover profitable products to resell on Amazon.

Bindwise will help you to identify costly issues with your Amazon seller accounts. Receive instant Bindwise Alerts about everything related to your store on Amazon. 

RefundSniper is an international Amazon reimbursement service that runs audits on both Vendor Central and Seller Central. Find out how much you are owed by Amazon today.

If you're looking for a way to streamline multi-platform ecommerce support, ChannelReply has you covered. Cut your customer response time in half by having all your customer information in one hub. 

FeedbackWhiz is an Amazon sellers management software that helps merchants scale their business by automating email campaigns, improving seller feedback, getting more product reviews, monitoring listings, and analyzing profit and accounting data. 

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