Taking the first big step in an e-commerce business often feels overwhelming. But guess what! It doesn’t have to be. Just think about how a lot of the biggest and most popular brands and businesses today had small beginnings. And with huge online platforms such as Amazon, there’s always an open opportunity for small and big businesses alike.
But due to its immensity, Amazon can also be a highly competitive e-commerce platform where getting the attention of potential buyers is tough. The line between success and failure is often thin.
The great news is that in 2015, Amazon introduced Launchpad. It’s basically a step Amazon took to help upcoming small business owners find their place in the giant e-commerce platform. Here’s everything you need to know about Amazon Launchpad including, how to apply, the eligibility criteria, benefits, and if Launchpad really is for you.
What is Amazon Launchpad?
Amazon Launchpad is a marketing program that aims to draw attention to big innovation while supporting small brands, startups, and entrepreneurs. As the name suggests, it is designed to “launch” new products and essentially help startups bring new innovative products to the market. done for you system amazon
Am I eligible?
To qualify for the program, you must meet the following requirements:
- Must be new to Amazon in the past 3 years
- You must be FBA
- Brand is doing less than $5M in total annual sales
- Existing products must have 5+ reviews and 4+ stars
What are the fees?
Amazon takes an additional 5% referral fee. What it means is if your “Selling on Amazon” account is accepted into LP, a 5% premium will be added to the Referral Fees described on the Selling on Amazon Fee Schedule. The premium applies to all sales associated with your account.
If your trailing 12-month gross merchandise sales exceed $1 million during your participation in LP, Amazon may in its sole discretion lower your 5% premium to 3% beginning the following month. In addition, you can unlock other enhanced services as your business accelerates.
What are the main benefits:
- Advanced A+ Content: including up to 2 videos, carousels, hotspot images, and beefed-up comparison tables – and the ‘Amazon Launchpad’ badge.
- Increased discoverability: on the Launchpad category page, Launchpad new releases page. Amazon also sends out emails to shoppers who are interested in Launchpad products.
Just take a look at these great A+ Content examples:
How to Apply
Here is what they ask in the application:
- Are you an existing Amazon seller?
- Where are your products manufactured?
- When will your products be ready to ship to customers?
- What was your primary funding source?
- How much funding have you raised?
- Do you have a Trademark?
- Do you have any patents?
- What is your annual marketing budget?
- What are your social media accounts and number of followers?
- Links to press or media coverage
