A more-for-more approach won't work with #Amazon in 2025. ❌
Vendor Managers have only a handful of growth levers at their disposal. They can grow your sell-out via:
- Price promotions
- Enhanced reporting
- Seasonal forecast overrides
But that's about it.
So if you only plan to invest when Amazon grows you to $XMM in sales, chances are you won't grow with Amazon at all.
The better way? Creating a clear growth plan and taking ownership.
Here's a simple 3-step formula to get started:
1️⃣ 𝗦𝗲𝘁 𝗮 𝗴𝗿𝗼𝘄𝘁𝗵 𝘁𝗮𝗿𝗴𝗲𝘁
As with anything, make sure you define a concrete growth target. You will likely base it on a mix of your category CAGR for the last 24 months and your maturity in that product category.
2️⃣ 𝗜𝗱𝗲𝗻𝘁𝗶𝗳𝘆 𝘁𝗵𝗲 𝗜𝗻𝗽𝘂𝘁𝘀 𝗿𝗲𝗾𝘂𝗶𝗿𝗲𝗱 𝗳𝗼𝗿 𝘁𝗵𝗮𝘁 𝗴𝗿𝗼𝘄𝘁𝗵
Define how you're going to grow. Will you focus on price promotions, Subscribe and Save, or advertising campaigns? Once you're clear on the chosen mix, here comes the critical part:
Don't point fingers at Amazon. They won't come to your rescue. Define your budgets and growth levers and take full ownership. You can ask your VM/AVS to support you with data or the set-up of price promotions.
But the execution will mainly sit with your team.
3️⃣ 𝗘𝘅𝗲𝗰𝘂𝘁𝗲 𝗮𝗻𝗱 𝗰𝗼𝗻𝘁𝗿𝗼𝗹 - 𝗼𝗻 𝗿𝗲𝗽𝗲𝗮𝘁
Once you start executing your strategy, make sure to identify any bottlenecks. Are products running out of stock? Does Amazon's sales forecast doesn't update accurately? Now is the time to escalate to your Vendor Manager and AVS.
Remember: Amazon is on a mission to automate itself. Use the resources of its remaining retail team wisely.
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How do you plan to grow your vendor account in 2025? Join the discussion in the comments!