Amazon is constantly innovating its program offerings to help new brands launch and grow on the platform—at a cost, of course. One of the programs that we have been discussing with our clients at Stella Rising is Amazon Launchpad.WHAT IS AMAZON LAUNCHPAD?
Amazon Launchpad is a program designed to help entrepreneurs, founder brands and start-ups sell and grow on Amazon by participating in incremental opportunities. Amazon Launchpad has its own Storefront on Amazon, highlighting the latest innovations from emerging brands, as well as a Watch & Shop store. The program offers myriad merchandising and marketing opportunities for an incremental fee.
WHAT ARE THE BENEFITS?
Some benefits of the program include:
- Enhanced Marketing Placements: Inclusion in the Launchpad Program gives brands access to the Launch Marketing Package (LMP), a set of curated placements to help product discovery and brand awareness across several pages such as the Launchpad Homepage and the New Arrivals page. Additionally, placements are available in other ongoing marketing and social media initiatives.
- Brand Protection for eligible products, to prevent new offers on ASINs.
- Deals: The opportunity to be included in Lightning Deals, Best Deals, and Coupons which are shared on the Launchpad Deals page.
- Premium A+ Content: An upgraded version of the standard A+ Content pages, that has previously come with an incremental cost. Premium A+ Content includes 18 different modules including video (example below), and has been shown to significantly increase conversion vs. standard A+ pages.
WHAT ARE THE ELIGIBILITY REQUIREMENTS?
- The brand must be less than three years old on Amazon
- The brand must have Brand Registry completed
- The account must be Prime-eligible (FBA or Seller Fulfilled Prime)
- The account must be in good standing operationally with low order defect rates, cancellation rates, and late shipment rates.
WHAT IS THE COST?
An additional 5% fee added at the account level, for any brands under $1M in annual revenue, and 3% for brands over $1M. Participation in the program includes a 12 month minimum contract, after which the brand may cancel with 30-day notice (Amazon is waiving the month of June).
HOW DO I APPLY?
In order to be accepted into the program, the brand must meet a set of criteria and request approval from an application. You will receive notice if you have been accepted into the program approximately one week after completing the application. Our relationship with Amazon extends to the Launchpad Team, and we are happy to help guide you through the process. Connect with us today to see if your brand qualifies for the Launchpad program, and to learn more about the details.
For new brands that are eager to kick their business off the ground, or even for existing brands looking for growth opportunities, Amazon Launchpad provides incremental opportunities to reach new consumers. Some brands have seen up to triple digit month-over-month growth upon joining the program; however, the question stands whether the additional exposure is worth the added cost. If you are interested in exploring whether Launchpad is right for your business, start the conversation with us today.