In this era of high levels of inflation, everybody is looking for extra money to supplement their earnings. The internet has come through with ways in which you can make extra bucks to meet your needs. For instance, there is affiliate marketing, freelancing, and other techniques. You can also make money selling online. In this article, we will take a look at how to make money selling on Amazon.
Since Amazon was launched, it has provided a platform where sellers can meet buyers. However, to date, some people still do not know precisely how to go about selling on Amazon. Don’t worry, though. We got your back! Our guide will guide you on how to sell and make profits like the top-rated sellers on the platform.
Amazon is growing like crazy. It is difficult to think that the website started as a small site for selling used books. We choose to call Amazon the future retail store as every day, it surpasses our expectations.
Let’s get some facts straight: in 2015, Amazon ranked the retail giant in both size and value, beating some big names like Walmart.
2017 saw Amazon outdo itself by selling more products than they had ever done before in a single day. The numbers could only be expressed in hundreds of millions.
Amazon has ushered its traditional retail store counterparts into yet another round of war for sales. The latter is experiencing a boom in sales since the power is in the hands of the customers, unlike before when the customer had to move from store to store looking for an item.
With Amazon, the consumer can sit in the luxury of their home and have a product delivered at their doorstep.
A recent survey that sampled 2000 consumers conducted by BloomReach showed that Amazon is the go-to website for 55% of people looking for shopping needs, which is 27% more than Google. What does this mean to you as a seller? It’s not a word on the street!
Statistics have shown that there is more than just good money to be made on amazon. I will leave you to imagine the least you can make selling the right products.
How can you make money selling on Amazon?
1. Amazon affiliate
The first easy way to make money is as an Amazon affiliate. Amazon Associates is an affiliate program that lets the seller earn up to 10% of the commission for each sale, which they make.
Amazon affiliate program is an excellent way to break into the world of affiliate marketing’, how can you go about Amazon affiliate?
The very first step is to sign up for free, then you can begin selling by choosing the products you want.
You will be given an affiliate link, which lets you earn a commission each time a consumer clicks and buys through your link. It works like a referral.
Selling through the affiliate program can be as easy as posting the affiliate link on your social media platforms or blogs. It’s easy to sell on amazon, given the ease of use and the popularity among buyers. However, to sell as an affiliate seller, it takes time and patience to get established.
2. Focus on Higher commission categories
Previously, the commissions a seller earned on Amazon was based on the volume. You could make a 4.5% commission by selling ten sales but 8% with 200 sales. However, recently, Amazon amended its policy so that the commission depends on the product category.
Different product categories have a different commission rate. For instance, if you have a niche website that directs people to Amazon to buy apparel and jewelry, you will earn a commission of 7%. A category of Fashion and men’s label will earn you a whopping 10% commission.
3. Use the Amazon One Link.
When most people start selling on Amazon, there is a common assumption that specifying searches such as US English will get you the most traffic to your website. However, a look at your audience on Google Analytics will give you a different view.
So long as you are using the English language, you’re likely to land visitors from other countries who are English speakers. However, when they want to buy, they will have to use their country’s Amazon. It is, therefore, keys to use an Amazon one link to pocket all the commissions.
4. Buyer keywords should be your primary focus.
Click on Amazon earn you nothing, unlike in other forms of Affiliate marketing. It’s easy to get a consumer to click on your link, but can you close the deal?
How do you ensure you can convert a consumer to a buyer once that clicks on your affiliate link? Often than not, a consumer already knows what they want.
For instance, they want a smart TV specifically from Sony, and they want to spend nothing more than 1000 dollars. Therefore, your focus should be on the keywords to be able to match the buyer with the products they want.
5. Sell as a Fulfillment by Amazon (FBA) agent.
Fulfillment by Amazon is a program that allows you to send your merchandise to an Amazon fulfillment center for stocking. Once an order is placed, and a customer buys from you, Amazon ships the product to them.
Good news is that FBA allows you to worry about other aspects of your business while they get all wet and muddy doing deliveries.
6. Get creative and do something unique.
Everybody is running to Amazon to make money. Who doesn’t like quick and easy cash? Therefore, what will make you stand out? It has become difficult to sell “me too” items on Amazon.
These are products everyone is selling. They scream, “I sell that too with a hundred other people” on your site.
Therefore, be unique by finding desirable products that will make you stand out from other sellers. An easy way to find out a high-demand product is by reading the client reviews.
It is a great way to implement all the suggestions of the buyers.
7. Start small
To pick up as a newbie, start with products that are cheaper to attract customers. Second-hand and refurbished products are also a great starting point for customers whose concern is the price.
What are the commonly made mistakes you should avoid?
It gets exhilarating reading all the success stories people post about how they have hundreds of thousands, and you just can’t wait to start.
However, tread carefully, it is not always fun and games. Here are some common mistakes and setbacks you are likely to come across in your selling journey.
1. The assumption that amazon’s shipping rates are accurate – the shipping rates will always go up after factoring in variable costs such as size and weight.
2. Failing to leave a review – it is common for a buyer to want to leave reviews about the product they are buying for more knowledge to find out of it is the right product. A review from an expert seller will give them a great push.
3. Forgetting to compare the prices from other sellers – to make a decision on your retailing price, you need to factor in the prices of other sellers to be able to make profits.
4. Poor marketing skills – the description you write for your products should never be anything less than convincing and eye-catching. The goal is to sell the product for a commission. Therefore, give a full description of your product, such that the buyer won’t have to look elsewhere.
5. Failing to market your product – buyers rely on what they see on your product description before making a purchase. Therefore, you should include several photos on the description backed up with the specifications of the product. The photos you upload should be of great quality to attract the customers.
What to sell on Amazon to make money?
With all the amazing opportunities Amazon is presenting, it can get confusing to choose what to sell to make money. Here are some ways to sell on amazon.
Research! Research! Research!
It is utterly thoughtless to test new waters with both feet. The easiest to ensure you don’t make losses on your sell is to research. Amazon is rather generous with their information as they know that an extra dollar in your pocket is an extra dollar for them too.
The first information to look for is the bestselling products on the vast website. Amazon is in the habit of providing the bestselling list, which is a very important tool for newbies.
You will be able to see the bestselling product in each category of the website you are interested in.
Amazon also allows you to view the consumer’s wish lists and the hottest new releases and gifted items. You are spoiled for choice with adequate research on Amazon.
Sell what you really like
I have learned through my selling experience on Amazon that selling what you like is the easiest strategy. The extensive knowledge of the product will enable us to answer buyers’ questions extensively.
You will also write a bomb product description with no hassle at all.
Sellers are impressed by a seller who is confident and knowledgeable. Therefore, you will score with your audience, allowing you to earn a bargain spot that allows you to sell with great profit margins.
Go for a specific type of products
It can be tempting to jump from product to product in a bid to make a profit. However, it is important to find a certain product that appeals to a need or hobby among consumers.
The goal is to build a niche. It might not take off at once, but eventually, it will be rewarding.
You can set your ground in selling hair products. Once you have identified your niche or sub-niche, you should ensure you have enough to supply and meet the demand.
Avoid “big” names
Although appealing, big brands are a no-go zone, especially when you are still a newbie. Doesn’t make sense? Products with big names retail at a high price, making it unprofitable to trade in them.
Why should you sell on Amazon?
The best way to answer this question is to think of all the reasons Amazon has surpassed other online selling and buying websites.
People trust Amazon – as we saw in the earlier statistics, 55% of all people in the survey go to Amazon first while searching for an item. The only thing we could attribute this action to is rust! Amazon has a great reputation among buyers.
At least three out of five people have bought an item on Amazon, while the probability that someone has gone to the website to search for it is 0.9!
On Amazon is super easy! – while some sites have made it very difficult to sell by setting difficult conditions, Amazon is rather straightforward to sell with. The website has a user-friendly database that is rare in other sites.
Selling on Amazon is as easy as creating an account on the website and clicking on the word sell. The rest of the steps you will be prompted to will be easy to follow.
Reliable reviews – when you want to purchase a product you haven’t before or from a new seller, you will find yourself heading straight to the reviews.
The best thing about Amazon that it gives you the advantage of having our buyers review you and your product or service. These reviews play a significant role in increasing your sales since most buyer’s trust Amazon reviews.
You get terrible reviews (unfortunately) you may want to get packing and move to a new website, but that won’t happen because we have backed you up with great tips.
Amazon pays on schedule- you can count your chicks before they are hatched with Amazon! You do not need to worry about your pay as Amazon pay as scheduled, and they always deliver.
Amazon has changed the commerce platform allowing more sellers to make money online. Therefore, what is holding you back from taking advantage of this great opportunity?
Are you ready to secure that bag? Go to Amazon.com and click on “sell here” and follow the easy steps through to the end. Get selling today!
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All the best!
Founder: Living On Lean Means ?