From its humble roots in 1994, Amazon has grown from a small online retailer to become one of the world’s largest online stores with numerous individuals, businesses, and companies using its platform to sell their products.
Some sellers do not know the most effective and efficient ways on how to make money selling on amazon. Some of the best ways to sell your products on Amazon and become a top rated seller are discussed below
Ensure You Have Enough Products
Though it is important to have a few products when you start selling on Amazon, it is important to have enough products to cater for demand in case people like your products and you begin getting more orders. This ensures that return customers and those who have been referred do not look for alternative sellers
Your Products Should Be Affordable with Flexible Pricing
The best way on how to make money selling on Amazon is by selling your products at affordable rates. Check your competitor’s prices and adjust accordingly. Though this might not get you a huge profit margin at first, it is the best way to get and retain more customers.
In addition, you should be flexible in pricing. If you are the only seller of a given product and there is increased demand, you can slightly push the prices up to increase profitability.
Use Amazon Marketing Tools and Amazon Seller Central
Another way on how to make money selling on Amazon is by utilizing existing Amazon marketing tools including Tags, Listmania and Likes which will help your products get more visibility. Additionally, Amazon seller central provides regular reports that can help you analyze your sells, know potential customers and find out the effectiveness of your marketing and promotions
Become an Amazon Featured Merchant
Being a featured merchant on Amazon will not only get your products noticed, but will also make you reputable and trusted among potential customers? Though Amazon does not say how sellers become featured merchant, you can easily get to that list by having good sales, little or no customer complaints and excellent customer reviews. You should also ensure that you adhere to all Amazon selling rules, regulations and policies to avoid getting banned.
Understand all costs and fees
The most effective and efficient way on how to make money selling on Amazon is by understanding all associated fees and costs. If you are a seller who buys products then sells them on Amazon, your selling price must be able to accommodate all your costs and amazon fees. Amazon charges fees for selling and referrals
You can reduce your shipping costs by using FBA (Fulfillment by Amazon) where you send your products to them and they handle packaging and shipping to customers.