When planning a product launch, most startups and companies introducing new products plan to make a big splash with a launch marketing campaign.
Reaching customers who are already bombarded with lots of marketing messages and advertising can be either expensive or risky. Startups don’t have the financial resources that established companies do to fund major PR campaigns, launch parties, and massive ad campaigns.
For e-commerce companies in particular, many marketing channels that were affordable years ago such as paid search or social media have become much more expensive in recent years. Making a new product stand out from everything else has become more challenging and more expensive.
So, what’s a startup that wants to launch a hot new product on a tight budget to do?
Launch it on the website that’s responsible for more than half of all US-based eCommerce sales growth.
What Is Amazon Launchpad?
Amazon Launchpad is Amazon’s storefront dedicated to showcasing innovative products from startups to entrepreneurs at startups and crowdfunded companies who want to make a huge impact to the website’s millions of daily visitors.
You can apply to join at the Amazon Launchpad official page.
If accepted, Amazon will promote your product through their e-mail marketing systems, front page marketing campaigns and the Amazon Launchpad store.
Amazon Launchpad participants also get access to special customization features on their Amazon product pages including founder biographies, company stories, and other “enhanced product detail” features.
That just means that you can include more photos, product videos, more text and have access to additional formatting features that make your product pages stand out compared to those for standard Amazon products.
According to Amazon, enhanced detail pages show on average a 10% greater conversion rate than ordinary pages.
Joining also gives you access to Amazon’s internal advertising service (called Amazon Marketing Services) that offers paid search and display ad traffic at cheaper rates and higher typical conversion rates compared to competing ad platforms like those offered by Google and Facebook.
Will Amazon Accept My Launchpad Application?
You’ll be prequalified for Amazon Launchpad if you have raised funds from prestigious investors like:
- Andreesen Horowitz
- Y Combinator
- Circle Up
- Techstars
- The Amazon Alexa Fund
- Hax Accelerator
- Hardware Club
You’re also immediately eligible if your startup ran successful crowdfunding campaigns through Indiegogo or Kickstarter.
Amazon Launchpad has also frequently been the next step for companies that have been successfully featured on the hit ABC business-reality show, Shark Tank.
Even if you haven’t gone through an accelerator program or raised outside funds, you can still apply if you currently have an Amazon Seller Central, Amazon Vendor Central or Amazon Vendor Express account.
If your product is new, innovative and reliable, Amazon wants to feature your product to millions of potential customers. There’s no cost to apply, so take a minute to send in your application.
You’re limited to just 500 characters, so keep it short and to the point with this Amazon Launchpad program application!
What Else Will I Get With Amazon Launchpad?
Amazon Launchpad members also gain privileged access to premium business services that would be otherwise out of reach to most startups.
These can even include integration with Amazon Dash (the button that lets your customers re-order your product from Amazon at a single button) and Alexa, Amazon’s voice-activated virtual assistant.
There are also many prototyping, operations, manufacturing, sales & marketing and financial service providers vetted and recommended by Amazon Launchpad companies.
Amazon’s goal with Amazon Launchpad is to remove as many obstacles standing between your startup and success as possible.
How Getting Paid Faster Can Boost Your Launch Success
Seeing big sales numbers is great, but for startups eager to grow rapidly, cash flow — not just revenue booked for the future — is king. That’s why Payability has partnered with Amazon Launchpad to accelerate payments to Amazon Launchpad companies.
Typically, Amazon pays launchpad companies every 60-90 days. That’s too long for startups as inventory needs to be replaced to sell to the demanding needs of customers. It’s critical not to gum up your growth by having your product go out of stock due to cash flow issues.
Payability is a vetted and approved financial service provider for Amazon Launchpad startups. With Payability, your company can get paid the next day for a low fee without the need for an established business credit history or personal guarantees it integrates seamlessly into your Amazon Vendor account so you can maintain your growth trajectory.
Interested in learning more how Payability can provide you with risk-free, low-cost financial resources for your Amazon Launchpad products? Contact us today at (646) 494-8675 for details or sign up online
