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How to Improve your Click Through Rate & Conversion Rate on Amazon
151 Plays4 months ago
In today's episode, I cover click-through rate and conversion rate optimization on Amazon.
These two metrics are so important to pay attention to, and in this episode, I cover factors that affect CTR and CNR and how to improve them.
Need help scaling your brand on Amazon? Get a FREE Amazon audit here: https://hubs.la/Q02HKPpS0
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Transcript
Introduction to KPIs on Amazon
00:00:00
Speaker
Welcome back to the Amazon Blueprint Podcast.
00:00:05
Speaker
Two of the most important factors on Amazon, two important KPIs that you need to be always looking at is click-through rate and conversion rate.
Importance of Click-through and Conversion Rates
00:00:13
Speaker
So in this episode, I'm going to break down exactly why you need to be paying attention and why if you don't have a good click-through rate and conversion rate, you are going to result in your ads not working, your PPC is not going to be working, and I'm going to explain exactly what you need to do to improve both of them. So let's start. Welcome back to the podcast, guys. My name is Mina
Trivium Group's Strategy Focus
00:00:31
Speaker
Elias. I am the founder of Trivium Group, if you guys don't know who I am. We manage Amazon brands, we manage about 185 Amazon brands right now, 85 people on the team, and I've seen almost everything, and I'm in accounts every single day, and I'm identifying that for a lot of brands, the main issue is not their BBC, the main issue is actually their click-through rate and conversion rate.
00:00:50
Speaker
So much to the point that I actually made it a new system in the company that every single week the team needs to notify the client of one thing that needs to happen to improve click-through rate and one thing that needs to happen to improve
Factors Influencing Click-through Rate
00:01:01
Speaker
conversion rate. So without further ado, let's dive into click-through rate. What are the factors that affect click-through rate? All right, there's seven factors. Number one, main image. Number two, title. Number three, price and price per something. Number four, reviews and star rating. Number five, discounts and coupons. Number six, the shipping speed if you're FBA versus FBM. And number seven, your badges on your listing. So let's break them down one at a time. And by the way, guys, before we get into any of this, right, if you're looking to optimize your click rate,
00:01:30
Speaker
Do not do anything unless you have very, very, very clear reporting on an ASIN level for each of your products. Click through rates and the bottom line profit. And when I talk about bottom line profit, I mean sale price minus Amazon fees, minus cost of goods sold, minus PPC, minus, so you know, refunds, plus reimbursements, minus any discounts and
Impact of Profit Tracking and Image Optimization
00:01:50
Speaker
coupons. And that's going to be your net profit after everything. So the reason that you want to make sure that you have your net profit there is because we are going to start changing factors. We're going to optimize the main image. It's going to have an impact, right? And it's going to have an impact on PPC, which is where we can get the click-through rate from, but it's also going to have an impact on organic where we don't have a click-through rate, right? Because click-through rate numbers are only available through PPC. You can also kind of calculate them on the search query performance report, but if you actually run the numbers, the search query performance report isn't accurate. Like if you have 100 sales, it's not going to show up as 100. It might show up as 52 sales. However, directionally, it's accurate. So for that reason, if you're tracking your bottom line profit, you know, okay, I optimized my main image. Last week, I made 700 in profit. This week, I made 815 profit.
00:02:34
Speaker
This helped, right? Or it didn't help, ah you know, didn't make any difference or it actually made things worse. So before we start, make sure that you have that
Main Image and Title Optimization Tips
00:02:43
Speaker
documented. If you need help, we have Trivium Analytics. Reach out to me. My email is Mina at TriviumCo dot.com. I'll get you hooked up with Trivium Analytics where basically you can see week over week, you know, your spend sales, profits, all that kind of stuff. Anyways, so main image. How do you optimize the main image? Main image needs to be clear. I prefer a 3D render that's super sharp. You want to fill out the space so there's no white space in your image. You want to make sure that you have eye candy, things that attract you. So basically load up the search results. Type in your main keywords and look at your competitors and put your main image amongst those competitors. Like take a screenshot and then just
00:03:16
Speaker
Put your main image right in the middle. If you kind of look at it from far, does the main image catch your eyes or is it actually just blends in and it's hard to tell which one and if they see someone that has more reviews than you, they're going to click on that listing. So make sure that you have eye candy and it sticks out and then make sure that you have some sort of selling points on the product. What I like to do is I like to manipulate the label, manipulate the 3D render, add a box, a non-existent box in the back and put text on that stuff. So when someone types in electrolyte powder, for example, I know that they're looking for a sugar free electrolyte powder or something that does, you know, a lot of hydration. So I'll put sugar free or zero carbs, zero sugar, whatever somewhere on the packaging, even if that's not actually the reality. No one is going to complain and no one's going to say, oh, when I got this, there was two words on the label that were different.
00:04:01
Speaker
Then, you know, the product that I clicked on, no one's gonna even remember what the main image looked like. Next, title needs to be SEO optimized, right? That's the biggest thing. SEO optimized, I like to put the main keyword right at the beginning and then make it readable, make it easy to follow and make sure that you have also other keywords in there that are, you know, helping the SEO. Next, reviews and star rating. Super self-explanatory. Reviews always be getting more. Star rating always needs to get
Role of Reviews and Price Adjustments
00:04:26
Speaker
higher. If you're at a four star, so like 4.0, 4.1, 4.2, if you go to 4.3, which takes you to four and a half star, I've seen conversion rates skyrocket. Now, that does a couple of things. Number one, when your click-through rate improves, you can actually spend more money on ads. It'll work better. Not only will your ads convert better, but also you're able to spend more money on ads, which opens you up to making more revenue. And you convert better, which means more of those people coming into your listing convert and buy your product, which means you're going to have an exponential improvement in your profits.
00:04:56
Speaker
So my strategy is pretty simple. I go on Instagram. I find people that would like to use my product I DM them I ask them if they want free product just for feedback, right? I want to know how they like the product and then I follow up with them I reimburse them obviously they buy the product I follow up with them I ask them how they like it and if they liked it, I asked them to leave a review That's pretty much it. I do that every single day of the year and I keep getting more and more and more reviews and I never stop. There's no number. So many people ask me, what is the number of reviews that you stop? One million, right? If you hit one million, then you can stop. Until then, keep going because the more reviews that you're gonna get, the more money you're gonna make. It's that simple. All right, price and price per whatever. So price is obviously a very important factor on Amazon. A lot of people look at price as kind of like, okay,
00:05:38
Speaker
This has a nice image. It has good reviews. What's the price? Is it competitive with other products? Why am I spending $25 when everyone else is $15? So by split testing the price, you actually are able to improve click-through rate. So you can try lowering the price and let's say you're $25.99, try going to $24.99, $23.99. Look at what happens to click-through rate, but more importantly, look at what happens to the bottom line profit. I actually did the opposite. I actually increased my price and my click-through rates stayed the same. So think about this. I went from $28.99 all the way to $38.99 and I was able to add $10 in profit per unit right without doing anything else and my click-through rates stayed the same. My conversion rate dropped a little bit, but my profit went up. So as a result, I was like, okay, cool. I'm fine because the same amount of people are coming into the listing. A little bit less of them are converting, but I'm making more money per unit, so that's helping me.
00:06:25
Speaker
And then price per whatever. So a lot of people will also look at that number. So sometimes let's say you have a four pack, right? So say the price per pack is $4 versus, you know, $16 for the whole thing. Or for me, it says, you know, it's $1.80 per ounce. And then I've seen competitors who have $45 products, $48 products. I have 100 servings. They have 90 servings, but their price per ounce is, you know, $1.50 and mine is $1.80. And they're like, Oh, that one is a more cost efficient, which is stupid. right But that's how people shop and that's what you gotta pay attention to. Discounts and coupons, guys. Very, very simply, split test them. right Add a 5% discount, add a 10% discount, whatever you want. At the end of the day, there's no right or wrong answer. It's just a matter of last week, how much profit did I make? Last 30 days, how much profit did I make? On average, how much I'm making per week.
00:07:12
Speaker
Let me add a discount. Let me add a coupon. Let me test it out. Did it work or did it not work? Did my click rate go up? Did my conversion rate go up? Did my profits go up? Yes or no? If yes, amazing. If no, then you know it wasn't worth it.
Shipping Speed and Best Seller Strategies
00:07:25
Speaker
Shipping speed. If you guys think that FBM can even stand a chance competing with FBA, there's no way in hell. You want to make sure that you're always FBA. Number one, prime badge matters. right If you have the prime badge, you will definitely convert way more and you'll get way more clicks. Now, number two, if someone sees, you know, today's May 30th, someone sees that their product is going to come in June 5 or June 6th, we have been accustomed to it's going to come today or tomorrow or the day after. June 5, way too late. I'm just going to go for your competitor who I'm going to get the product today or tomorrow. You know what I mean? So make sure that you're always using FBA when applicable. Obviously, if you have a multiple product that might not be available to you, or if you have like a furniture product, that might not be an option. But
00:08:05
Speaker
In all cases, try for FBM and try for fast shipping speed, competitive shipping speed. Now, the final one is badges. If you can get the best seller badge, and I'll tell you how to do that, if you can get the best seller badge, you will double or triple your sales literally overnight. And I've seen it happen time and time again with our clients. There's three clients specifically, I remember. I'm like, guys, we are $30,000 a month, less than the number one best seller in the category. Please let me blast some ads. I blasted the ads we became a little bit less profitable We got the bestseller badge and we skyrocketed the sales literally sales doubled overnight The bestseller badge makes a huge difference in cook trade conversion rate and just overall ranking and and just people buying the product
00:08:46
Speaker
So, how do you do that? You basically go and identify sub-niches, sub-categories, right? So, your product is probably in a certain category. You go look at all of the subs sub, sub, sub categories that are related that your product could be a fit for and then you see which one has the lowest best seller. So, the best seller that is selling the lowest amount of money and that person, if you can at least get close or undertake them and make a little bit more money than them, then you will get the best seller batch. All right, let's jump into conversion rate. So what are the other factors that
Conversion Rate Influencers
00:09:16
Speaker
affect conversion rate? So everything that affects click-through rate also affects conversion rate. So that's seven factors already. Now, the rest of the images. Your images need to sell your product as if it's the only thing that's gonna sell your product. So assume that a shopper is gonna click on the images, swipe, swipe, swipe, and then make a decision, right? So it's based on your price, your reviews, and your images. Just scroll into the images. So make sure that you go and look at the one-star reviews of your competitors. Look at the five-star reviews of your competitors.
00:09:40
Speaker
and identify what do people hate? Make sure that they know that your product doesn't have that. And what do people love? Make sure that the people know that your product does have that. And then what makes you better than everyone else? Make sure that that is clear. Make sure everyone knows why they should buy your product and no one else's product.
SEO and Content Optimization with AI
00:09:56
Speaker
videos on the listing very easy to do you can use you know a company like fluencer fruit for example or you can just find any creator on instagram dm them just get a video done an unboxing video an experience video whatever people want to see other people using the product and having videos on the listing
00:10:13
Speaker
definitely helps conversion the exact same principle you can apply to the ugc content later on in the page you can reach out to influencers and get them to upload their content and I have Personally fallen for videos that were really good and I bought the product and the product wasn't even that good But the video convinced me bullet points SEO optimization exactly same as title optimization However, the first sentence in the bullet point, that needs to sell your product. No one's gonna read the whole thing, right? So focus on the first sentence, selling. So you have five selling points, and then the rest of it can be a nice sentence that's very well SEO optimized. Use chat GPT for this, guys. It's so, so, so easy. I go to data dive. I identify you know the top most important keywords that I need to rank for. I feed it into data dive, and I tell them, these are my selling points. Please create me five bullet points.
00:10:58
Speaker
where the first sentence sells the product and the rest is an explanation that has all of these s keywords. And then they write it perfectly. I give them the character limit, all that kind of stuff. So leverage AI for these kinds of things.
Premium Content for Better Conversion
00:11:09
Speaker
Next, brand story and premium A plus content. Brand story is ah another visual part of the listing. This is where you can showcase your brand mission, vision, values, founder story, things like that. Take full advantage. Just go look at your competitors. Look at who's doing it best. Make one that's closely similar but better. Premium APOS content. This is a must. If you have regular APOS content, just try this. Try setting up premium APOS content and then go to manage my experiments and A-B test it. You will realize that premium APOS content will convert your listing better than regular APOS content. Plus it has more modules like video and carousels and things like that.
00:11:42
Speaker
So I highly recommend that you go in and you build a beautiful landing page that again, high images, low text, like just quick snippets of text that sell the product. So someone that scans it very quickly understands why this product is better than everyone else and all the benefits of the product. And then the final piece is images in the reviews.
Consistent Improvements for Scalability
00:12:00
Speaker
I found that to be very, very effective. So I'll find a few people and I'll pay them a little bit extra to take pictures and videos and upload them in the review because that helps people convert. especially when they get ranked like number one. So you know when you scroll at the bottom of the page, there's a bunch of reviews that are defaulted that show up there. Those ones, if they have images, those will convert really well. That will help your conversion. So that's a list of pretty much everything that you can do to improve click-through rate and conversion rate. And if you just follow this step by step, everything that I said, try to do one a week, just one a week. That's 52 improvements a year, I promise you. Your click-through rate will skyrocket. Your conversion rate will skyrocket. It's going to result in your PPC performing better. It's going to result in you getting more profit. And it's gonna result in you having the ability to scale more, right? Because so many people get stuck. They're spending $10,000 a month. They can't spend 15 because when they go to 15, they become not profitable. Why? Their click-through rate and conversion rate does not hold up. That is gonna be your biggest ceiling. If you optimize click-through rate, if you optimize conversion rate continuously, you are going to be able to scale more and more and
Final Thoughts and Call to Action
00:13:02
Speaker
more.
00:13:02
Speaker
Alright guys, if you like this podcast, make sure to let me know. Subscribe to the podcast and go check out the YouTube channel, Mina Elias. I put out so much fire content. And also, if you need my team to come in and do an audit and kind of give you a breakdown of here's everything you need to do to improve your listing from a cook through and conversion rate standpoint, do a full audit on your ads, all that kind of stuff completely for free and deliver that report to you, go to our website, TriviumCo dot.com and click get a free audit. Alright guys, see you in the next one.