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“Music hey everyone happy friday and welcome to seller strategies where we talk about nspecific nspecific seller. Strategies and answer. Any of your selling questions in five minutes or less re your hosts. I m ervin.
I come from splitly where nwe help you convert better and sell more by optimizing your listings through a b testing and my cohost maria she s from fetcher where they may help you make sense of your profitability. Numbers on amazon and see whether or not nyou re profitable or not now in this week s episode. I wanted to share with you the new feature that amazon released well sort of new feature they had this back in november. Only for select number of sellers.
But i think right now fast nforward to a few months later it is now available for all sellers. And what is this feature. This is the coupon feature and it s separate from nthe promotions. Feature.
And i believe you can find nthis under the advertising tab. Now how the coupon feature works is the customers would be nable to click a check mark on your listing and depending on how you set it up you can set it up for nthe customer to receive either a percentage off ncoupon or a dollar off coupon for whatever amount you set you can set a specific nbudget for this one. And how it works is every time someone clicks on that coupon. Let s say your giving.
5. Off a 10 item. Which is a lot so let s say whenever someone nclick on that check mark you get charged 60 cents. Nfor.
That feature being used and then on top of that you also get charged the 5. By amazon. So you could set a budget nyou could set a date range and then you could set the amount now maria between the npercentage off coupon as well as a dollar off coupon. Which do you think works better well.
I m a marketer so i would say the percentage off just because most people are used to that whenever you go to target ncostco. I mean you name it you will always see a npercentage off being shown. So and i ve tried those coupons as well and that s what i ve used the percentage off. Yeah conventionally.
I ve used the percentage off coupon as well. But what i ve found nparticularly. Interesting about these new coupon features is that the dollar off ncoupon actually works better now hear me out. I know it must be something new to you it was something new to me i was flabbergasted nwhen.
I saw this results. But from my perspective. And how i think why the ndollar off coupon works. Better is because people are nthere to shop on amazon.
They don t wanna think nthey re just there to shop convert and go on to the next. Item. So if you told me that nyou re selling this item for 3395. And you re ngiving me a 5 off coupon.
I d have to do the math and think as opposed to if you gave nthe same amount of discount. Let s say that equates to about 2 just to make it easy so people can. Easily. Nsubtract.
2 from. 3395 to know that they re essentially. Npaying. 3195.
For the item. And here s the surprising nresults that i ve found when i did the same namount in terms of dollars at the end of the day nfor the dollar off coupon and the percentage off coupon. I was able to get a 43 redemption rate on the dollar off coupon as opposed to 32 on the redemption rate of the percentage off coupon. How crazy is that maria wow.
That is actually a lot now. How did you figure this out. So. You just ran the coupon nand the percentage off at different time frames.
Yeah. It s not really a test that would give you nstatistically significant results because for that i would nneed to run it more times. But from the different ntime frames that i ran it for like a week each for the same budget each i definitely got more ncoupons and more redemptions from the dollar off now this is not only for one product. But i actually ran this nfor.
Several products and all of them came back nwith very identical results cause. I was trying to ndo the math in my head. I m like unfortunately this isn t nsomething that you can split test in splitly within splitly you can test various naspects of your listing say for example your main image to see which main image ngives you more sessions or drives. More traffic you can test your price.
Which one helps you convert better. But this coupon nfunctionality isn t available on splitly yet. But this is something that ni d like to have available through the api hopefully amazon does open the napi to this coupon. Feature and if it does i d like nto test.
These results to see whether or not they nare statistically significant but from the results. I have found so far everything seems to ascertain nto. The dollar off coupon being the one that helps nconvert better for your product hmm. Interesting good to know now i won t be doing npercentage off anymore.
Then i ll be doing the dollar off. Now you said that it was the same amount so as a seller. I wouldn t be losing nany more money per se. It s just the psychology non the consumer side huh really good to know.
Thanks for sharing ervin. Yeah. Yeah. And just something to add as a seller.
You re not nlosing any more money. But you re actually gaining more money because now if you re ndoing the dollar off coupon. More and more people are going nto be redeeming your coupon. Which equates to more sales lower velocity lower vsr and better ranking.
So you re winning by doing na percentage off coupon or a dollar off coupon rather. Nice. I like it. Thanks ervin alright.
You re welcome maria well. I believe that s all the time that we have for today folks remember sharing is caring if you have any specific strategies or if you ve found that nthe strategies. Help you comment down below. In the description.
And we ll be happy to look at them or answer. Any questions that you have again stay calm keep crushing on amazon and we will see you guys next week. See ya next friday. Everyone see ya ” .
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