Do you want to make fast money on Amazon as a seller? You are in the right place: Read this article to learn how to sell on Amazon and make money in real time.
Take these steps to start making fast money on Amazon. You need to
- Understand why Amazon is the Best Marketplace for You to Sell
- Choose a Niche with Growth Potential
- Perform Product Research to Understand Your Niche’s Needs
- Sign up for Amazon FBA
- List Your Products Properly
- Pick a Few Popular Products
- Have Impeccable Visuals
- Price Your Products Competitively so you can (try to) win the Buy Box
- Prioritize Fast (and, if possible, free) Shipping
- Seek Client Review Post Purchase
- Promote Your Amazon Store on Amazon (PPC) and on Social Media
1. Understand why Amazon is the Best Marketplace for You to Sell
Amazon’s business model—which favors low initial investment from eCommerce sellers— enables you to immediately sell your inventory to up to 300 million active customers on the platform. Isn’t that amazing? You bet it is! Use Amazon’s reputation to win customers’ trust.
Amazon is a formidable income generator, as you can use the platform to sell products that range from digital downloads to print-on-demand and dropshipped items. However, things can get messy for you and you may suffer a great loss if you don’t get your calculation right. Simple? let’s dig deeper.
2. Choose a Niche with Growth Potential
To reduce your competition, choose an Amazon niche with growth potential. A “niche” is a subcategory of a product that appeals to a certain community with a common interest, challenge, or location.
Use a niche to take advantage of a weak market with the potential to grow in the future. Avoid products with fluctuating sales. E.g., seasonal products such as Christmas wear, holiday items, etc. Sell a product that receives year-round demand. Use the FBA calculator to find out your potential gain on each product before you start selling.
3. Perform Product Research to Understand Your Niche’s Needs
To get valuable information about potential market niches, conduct product research. Carry out constant keyword research to understand your consumers’ needs. Use keyword analysis to get product ideas you may not think of. It also helps trigger your creative thinking.
Calculate the potential cost for shipping, advertising, and other charges. Use the FBA calculator to do the calculation. Consider the product’s operations and shipping convenience to spare yourself from difficulty in the future. Don’t buy large, heavy products as such products are difficult to pack and deliver.
Finally, participate in niche communities to learn more about new product ideas. Engage yourself in specialized group activities and initiate discussion to learn more about the possible market and the needs of individuals.
4. Sign up for Amazon FBA
To make your inventory look like Amazon’s products, sign up for Amazon fulfillment service. Buy products and ship them to an Amazon warehouse. Pay a storage fee, and Amazon handles the picking, packing, and shipping. Amazon sends you the profit from your sales every two weeks.
Enjoy fast and low shipping rates, customer support, and logistic support, among others when you use Amazon FBA.
5. List Your Product Properly
To let customers locate your products easily, list your product properly. Create concise, compelling, and unique product descriptions. Tell your customers all they need to know about the product and display quality images or videos of the product. Optimize your Amazon product listings.
Choose relevant keywords, and use Amazon keyword tools to know the ‘search terms’ that are popular with your customers. Use a title that reflects your keywords, brand marker, or logo. Identify the features that differentiate your products with concise wording to help your customers make effective buying decisions.
6. Pick a few Popular Products
To balance ups and downs in demand, choose a popular product to sell. Check the Amazon Bestsellers List to know which trendy products make big sales. Explore the product categories and subcategories, especially, if you have a niche in mind. Pick the right product type and narrow it down into categories. Search for a product that has high sales with less competition.
7. Have Impeccable Visuals
To catch your customers’ attention, make your product’s image stand out. Don’t add distractions, and display only the major product. Place your image on a white background and make it zoomable.
Let your product image be at least 1000 pixels wide. Create an image that reflects your customers’ usage. In this way, they can see themselves using the product. Focus on the size of your product and make the picture moderate. Also, display your product from all angles and avoid additional items with it.
8. Price Your Products Competitively so You Can (Try to) Win the Buy Box
To win the Buy Box, price your products competitively. Consider shipping rates, service charges, and return fees to set a price that is profitable to you. Check your competitors, pay attention to what they sell, and use their pricing as a benchmark for your prices.
Don’t set the lowest price. Avoid the race to the bottom in pricing. Always make your prices 1.5% higher than the lowest FBA seller. Try to own the Buy Box. Increase your sales potential. List your product within 5% of the current Buy Box price.
9. Seek Client Reviews Post Purchase
To make the necessary adjustment to your products or selling techniques, seek client reviews and post purchase feedback. Encourage customer reviews to understand your product from a different point of view.
Respond to negative and positive research accordingly. Thank the consumers for the positive reviews. Apologize for the negative reviews and tell them how they can make the best out of your product. Let your feedback contain your keyword.
10. Prioritize Fast (and if possible, Free) Shipping
To boost customer conversion rates, prioritize fast shipping. Encourage fast shipping with a duration of 2 to 3 days or at most 1 week. Also, consider offering free shipping for certain products or when your consumers spend a certain amount of money.
Supply your consumers with accurate information about their shipment. Sign up for Amazon Prime (fast shipping program) to boost your delivery options. However, Amazon Prime requires you to be a professional seller and have at least 20 premium shipping records in the last 1 month.
11. Promote Your Amazon Store on Amazon PPC and Social Media
To advertise your product to customers on Amazon, promote your store on the Amazon pay-per-click (PPC) model. Use Amazon PPC to create product advertisements that target specific keywords.
These search terms appear in both Amazon and its rivals’ results. Also, promote your store on social media. Use Facebook ads or Instagram ads. Make them appear on your friends’ and followers’ user feeds as they scroll down.
Build a strong followership on your social platforms, connect with your audience, and increase brand awareness. If you don’t know how to generate traffic, engage social media influencers to put your brand in front of thousands or even millions of viewers.
Conclusion
To make fast money on Amazon, choose a niche with high growth potential and conduct product research to understand your niche’s needs. Sign up for Amazon FBA and list your product properly.
Furthermore, pick a few popular products and create a quality image for your product. And then, set a competitive price for your product and use Amazon PPC and social platforms to promote your Amazon store. Do more research and take the necessary actions. Who knows? You may make money on the platform sooner than you think.
