In the pursuit of success, young and growing ecommerce businesses often face a myriad of challenges. From managing inventory and fulfilling orders efficiently to maintaining customer satisfaction and standing out in a crowded marketplace, the hurdles can seem endless.
One of the most significant challenges is earning customer trust and loyalty, which is often influenced by the speed and reliability of order fulfillment. Leveraging marketplaces like Amazon and Walmart can help solve this with programs to certify sellers and provide a head start in building relationships with customers. Amazon’s recent announcement to reopen their Seller Fulfilled Prime (SFP) now presents itself as a major opportunity for brands to develop a strong reputation without losing control over the fulfillment process. In other words, it’s a game changer.
SFP is a program that allows sellers to display the coveted 'Prime' badge on their product listings, signaling to customers that their orders will be delivered quickly and reliably. This badge is a powerful tool for building customer trust and loyalty. Additionally, Prime-certified sellers and their product listings receive premium placement within the marketplace that can significantly boost sales. However, achieving and maintaining SFP status is no small feat. It requires sellers to meet Amazon's strict performance standards, including offering one-day and two-day Prime shipping nationwide, maintaining an order cancellation rate of less than 0.5%, and ensuring over 99% of orders are shipped on time.
This is where Extensiv comes into play. As a leading provider of order, inventory, and warehouse management software, Extensiv offers a comprehensive platform to help businesses meet the stringent requirements of SFP. Outside of the platform’s robust features is the Fulfillment Marketplace, which provides access to a network of vetted third-party logistics (3PL) providers. Through the technology and partnership network, Extensiv is the ideal partner to help brands streamline their operations, improve their performance, and unlock the power of Amazon's Seller Fulfilled Prime. But, before diving into the deep end, let's explore the program and who it works best for.
About Seller Fulfilled Prime
Amazon's Seller Fulfilled Prime (SFP) is more than just a program; it's a powerful tool that can transform your ecommerce business. Understanding its importance begins with recognizing the value of the 'Prime' badge.
When customers see the 'Prime' badge on a product listing, it signals to them that they can expect fast and reliable delivery. This is a significant factor in purchasing decisions, with many customers willing to choose a 'Prime' product over others, even if it's slightly more expensive. The 'Prime' badge is a mark of trust and reliability, and it can significantly boost your product's visibility and sales on Amazon.
However, achieving SFP status is not a walk in the park. Amazon has set strict performance standards to ensure that 'Prime' customers receive the high-quality experience they've come to expect. These requirements include:
- Offering premium shipping options
- Shipping over 99% of your orders on time
- Having an order cancellation rate of less than 0.5%
- Using Amazon Buy Shipping Services for at least 99% of orders
- Having nationwide delivery coverage for all standard-size products
- Using ship methods that support weekend delivery and pick up (Saturday or Sunday)
- Meeting targets for 1-day and 2-day delivery promises
- Delivering orders with supported Seller Fulfilled Prime carriers
- Agreeing to the Amazon Returns Policy
- Allowing for all customer service inquiries to be dealt with by Amazon
While these requirements may seem daunting, they are designed to ensure that your business is equipped to provide an exceptional customer experience. Meeting these standards not only earns you the 'Prime' badge but can be the catalyst to boost sales and grow your business.
How Extensiv Can Help
Navigating the requirements of Seller Fulfilled Prime can be a complex process, but with the right tools and support, it becomes significantly more manageable. This is where Extensiv comes into play.
Extensiv offers a comprehensive suite of software solutions designed to streamline your ecommerce operations, making it easier to meet the stringent requirements of SFP and beyond.
Extensiv's order management system (OMS) software is designed to intelligently manage orders across multiple channels. This is crucial for maintaining the high on-time shipping rate required by SFP. By automating routine operations, Extensiv reduces the risk of delays and ensures a smooth and efficient fulfillment process.
Inventory management is another key aspect of SFP, as it helps ensure that you can fulfill orders promptly. Extensiv's software provides real-time visibility into your inventory levels, across your fulfillment network, to help prevent stockouts or overstock situations, ensuring that you always have the right products available at the right time.
In addition to order and inventory management, Extensiv also offers a leading warehouse management system (WMS). This system can help you deliver sophisticated fulfillment strategies, reducing costs and delivery times. This is particularly important for SFP, which requires sellers to offer one-day and two-day Prime shipping nationwide.
Not ready to tackle this yourself? No matter the size or stage of the business, Extensiv can help. The Fulfillment Marketplace was created to connect brands and 3PLs like never before and can connect you with a vetted logistics partner proven to meet SFP requirements and fit your needs.
Benefits of Partnering with a 3PL
In the world of ecommerce, third-party logistics (3PL) providers play a crucial role. They handle various aspects of the supply chain, including warehousing, packing, and shipping, allowing businesses to focus on their core operations. When it comes to Seller Fulfilled Prime, partnering with the right 3PL can be a game-changer.
One of the requirements for SFP is nationwide delivery coverage for all standard-size products. This can be a significant challenge for businesses, especially those that are still growing. However, with a reliable 3PL, you can ensure that your products reach customers across the country promptly and efficiently.
Extensiv's software provides access to a network of 3PLs, making it easier for businesses to find and partner with the right logistics provider. These 3PLs are equipped to handle the stringent requirements of SFP, including one-day and two-day Prime shipping nationwide.
In addition to helping meet SFP requirements, the right 3PL can also bring other benefits. These include cost savings, as 3PLs can leverage their scale and expertise to achieve more efficient operations. They can also provide valuable insights into the supply chain, helping businesses make informed decisions and improve their performance.
By partnering with the right 3PL and leveraging Extensiv's software, businesses can not only achieve Seller Fulfilled Prime status but also enhance their overall supply chain operations. This can lead to improved customer satisfaction, increased sales, and ultimately, business growth.
Get Started Today!
Ready to take the next step? Amazon has opened the waitlist now and will start accepting applications for the program later in 2023, but it’s important to streamline your operation now to make qualification a breeze. Whether your brand is positioned to handle this in-house or you plan to connect with a strategic logistics partner to take advantage of this program, explore how Extensiv is already helping brands elevate their business by requesting a demo today! Through integrated inventory, order, and warehouse management systems and access to a network of vetted 3PLs, there has never been a better opportunity.
