Do you have inventory that’s overstocked at Amazon? Or do you have some slow-selling products that you want to give a boost in the sales rank?
Well, Amazon recently released a new tool for 3rd-party sellers on its platform called Coupons.
Haven’t we seen this tool before?
You might ask, haven’t we seen this before with Lightning Deals when they were made available for 3rd-party sellers?
Or isn’t it the same as running a promotion?
Setting up Amazon Coupons for your Business is Different
Lightning Deals were free at the start, and then required a large fee to post with many sellers showing less-than-stellar results.
Coupons is much more similar to promotions, with a few key distinctions.
Creating a coupon for your product or product selection can get your deal featured in Amazon’s Coupon section.
Your coupon can appear in Amazon search results as a side-note to your listing.
How much does the Coupon Tool Cost?
When creating a coupon, you enter a total budget. This budget needs to take into account two things, the total dollar amount you want to discount for the coupon deal and the per-redemption fee of 60 cents.
If you’re product is $50, and your coupon is for 10% off ($5 for all you keeping track), a budget of $5.60 would allow for only one coupon redemption and your coupon campaign would be over. A larger budget of $56 would allow for 10 redemptions of the deal.
It’s a smart way to encourage sellers to take into account how much the deal will cost in discounted product plus the small redemption fee.
Targeting and Naming
Amazon allows you to target specific interests for your coupon, or keep it at the default all (in the which case, it will be available for all visitors to the coupon portion of Amazon.
You can also name the coupon. Give it a descriptive name, and make sure to adhere to the guidelines set forth on the page.
Stand out from Other Sellers
Moving fast can pay dividends. Try the coupon tool for some of your products. They don’t have to be registered in the brand registry. The coupon program isn’t restricted to products in the brand registry.
Keeping an edge to grow your sales on Amazon can mean the difference between good sales and great sales.