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Kaspien Holdings Inc.

10/30/2020 | Press release | Distributed by Public on 10/30/2020 16:22

6 Tips for Defending Against Competitors Undercutting Pricing on Amazon

One of the most frustrating experiences as a brand owner is seeing copycat competitors undercut your pricing. In retail, competition ishealthybecauseit forces businesses to innovate, resulting in better deals and products for consumers. However, sometimes it's not a matter of two quality products vying for patronage. In some cases, it's ahigh-quality product being undercut by a low-quality product.

There's not much thatbrands can do about competitors' prices, but there's plenty they can do to convince shoppers that the higher cost of their product is well worth it.

How to Defend Against Competitors Undercutting Pricing

#1- Highlight What Makes Your Product Better

On Amazon,customers have many choices when looking at products.A simple and free way to help your products stand out is to promote your differential featuresin the copy, images, and A+ Content.Differentiators are features that make your product different from your competition, such as location of production, quality of materials, performance, additional features,aesthetics, or warranties.

#2 - Use AmazonLive

Amazon Liveis anAmazonservice that allows sellers to broadcast livestreams in which they demonstrate productusage, features, and benefits. Featured products appear directly below the live broadcastwindow.Brands can use Amazon Live to share their story, live events, educational content, and so much more. Customers on Amazon Live can ask questions and receive answers in real time. Amazon Live allows customers and brands to connect on a more intimate level compared to a video or listing andis an excellent (and free) way to increase visibility.

#3 - Engage withYour Audience on Social Media

Social media is one of the most powerful tools that brands can leverageto grow their audience. When we talk about social media,we're meaning Facebook, Instagram, Twitter, LinkedIn, Snapchat, TikTok, YouTube, and so many more platforms.

Brands can use social media in manyways, but one of the most important uses isactively engagingwith your customer base. This means respondingto commentsin a timely manner, creating social posts that invite your audience to actively participatein a discussion, and respondingto all direct messages.Audiences want to feel a connection to a brand,and engagementon social media isone of the top ways to do so.

Most importantly, a strong social media presencebuilds brand trust. Consumers are more educated than ever,and social media is a big part of that education. They'll initially turn to your social channels to ensure your brand is legitimatebut they'll stay to engage with your brand on a personal level.

If you need assistance in growing your brand's social presence, look intoour social media management service.

#4 - Respondto Reviews, Comments, and Questions onListings

When managing many listings, respondingto each and everyreview and commentcan seem daunting. However, responding to your customers, regardless of whether their feedback is positive or negative, is critical to differentiate your brand from competitors. Responding to questions, praise, and criticism takes time and energy, and not everyone is willing to doit. By taking time to respond to customersin a timely manner, you demonstrate that your brand cares about your customers, and shoppers will favor you for that.

#5 - Represent Your Brand Consistently Across All Sales Channels

Consistent representation across all sales channels is often overlooked, but it's incredibly important for maintaining brand integrity and strong customer relations. Inconsistent representation can lead shoppers to question quality and product authenticity.

Brands should seek to maintain a consistent brand name, brand voice, high quality copy and images, and prices across online marketplaces. This ensures you provide a fantastic customer experience with your brand, no matter where shoppers find your products. By doing so, you cultivate a reputation as a reliable brand that cares about your brand, products, and customers.

#6 - Be Where Your ConsumersAre

The ecommercelandscape is constantlychanging. In order to stay ahead of your competitors,you need to meet shoppers where they're at. In today's age, that means listing your products online, such ason Amazon, Walmart, and Google Shopping.As mentioned above, that likely also means curating an active presence on social media. In addition to posting and responding regularly, consider running social media ads and leveraging influencer marketing. You competitors may simply wait for shoppers to find them, so you can get a leg up by getting directly in front of shoppers, no matter where they're at.

Product Copywriting Internat Kaspien, Inc
Michael draws on a background in the digital marketing space with a focus in social media creation and management. Outside of work, he is a hiking, biking, dog, and travel enthusiast.