Leap Day 2020: Bonus Time to Better Your eCommerce Business
2020 brings with it two major quadrennial events: the U.S. presidential election and Leap Day. I hope you’ve already slotted time to vote on November 3 (you can find your polling place and hours here), but how will you spend February 29? It is, after all, an extra full day.
Leap Day 2020 falls on a Saturday, which makes it ideal for catching up on rest, spending quality time with your family, checking things off your honey-do list, hitting a movie or museum, or catching a game (I’ll certainly be watching my beloved Liverpool take another step closer to this season’s Premier League title). It’s a bonus day so enjoy it.
Something I’ve noticed in my time working with Amazon sellers is that what many of them enjoy (in addition to the above-mentioned activities) is their work, especially when that work delivers tangible results. Successful eCommerce entrepreneurs love their work and they love any opportunities to better their businesses. For these sellers, Leap Day is a chance to take care of business and do that extra something that puts them ahead of the competition.
If you’re one of these sellers, or aspiring to be one, here are some things you can do this Leap Day in order to better position your business. They all need to get done, so why not get a jump on them now using your extra day? After all, it only comes once every four years.
One, Done, and Won: Leap Day Single Efforts That Yield Big Wins Quickly for Amazon Sellers
- Contact Seller Labs Managed Services to see how they can handle your PPC campaigns to drive more revenue, eliminate wasted ad spend, and free you up to innovate.
- Connect with an expert who specializes in eCommerce Accounting and Tax Remittance and get your taxes started (April 15 is closer than you think).
- Start your free 30-day trial of Seller Labs Pro so you can manage Amazon PPC, find hot keywords, grow your reviews, and take control of your inventory and financials.
Schedule Healthy Habits for the Year Ahead
Use Leap Day to add these recurring events to your calendar. You don’t have to do them all, and you may find that your mix varies in terms of tasks and frequencies, but get them on the docket and try to stick to the plan. Even if you can only do half of them half of the time, you’ll still come out ahead.
Daily
- Check the trouble spots that need attention, namely Chargebacks and A-to-Z Claims.
- Use Feedback Genius to communicate with buyers and address any concerns.
Weekly
- Make sure you’re caught up on all Performance Notifications.
- Check your Amazon Account Health and address all issues before they hurt your rankings, or, worse yet, lead to suspension.
- Visit your Sales Dashboard to understand trends better.
- If you’re brand registered, use Brand Analytics so you can not only sell more but grow your customer base.
- Check the Pricing Dashboard to make sure you’re winning the Buy Box (without giving away the farm).
- Use Ignite for Advertising to modify and optimize your PPC efforts: see which keywords are converting and make changes to those and to bids accordingly.
Monthly
- Create Automated Pricing rules so that you can hold onto the Buy Box when prices fluctuate.
- Use Scope to find new high-power keywords for listings and Sponsored Products Ads.
- Generate a Restock Report and contact suppliers to make sure you have product in time (lead time has increased and imports have slowed greatly due to coronavirus).
Quarterly
- Review Amazon’s Program Policies (aka Terms of Service) and make sure you are in compliance (especially with regard to buyer-seller messaging).
Semi-Annually
- Verify that all of your Seller Account Information is up to date and correct.
Bigger Projects Best Started Now
- Use Quantify to understand your inventory and financials. Strive to hit the sweet where you always have product in stock but not so much as to incur heavy monthly storage fees. If you’re feeling like you have too much stock on hand and you don’t want to get hammered by long-term storage fees on the fifteenth of each month, add “Run a promo” to your calendar for the early part of the month and offer a Deal or a Coupon or a Promotion.
- Systematically optimize your listings. Keep track of the changes you make and how those changes affect performance.
- If you’re not yet a member of Amazon Brand Registry, find out if you qualify. If you do, start the process of getting registered. It matters.
- Create a Pre-POA so you’re prepared with a plan of action should you run afoul of one of Amazon’s many rules.
- Consider expanding your eCommerce presence. The days of selling on Amazon only are done and you need to find your customers and meet them where they are. See how the X-Cart eCommerce platform can make your brand a multichannel selling machine.
Nice Extras for Any Day of the Year
- Learn something new at Amazon Seller University.
- Investigate selling globally (or expanding Amazon commerce into even more countries).
Anything You Do Is a Win So Take Action!
Time is always tight for eCommerce entrepreneurs. Leap Day 2020 gives you one extra day, so follow the path of proven successful sellers and take action.