Starting on Amazon is ‘too easy’ if your plans are formulated well. But, delivering a seller account to ‘rain money’ is a bit difficult. Because making money as an Amazon seller has got technical tweaks in it. Cracks can be well organized for an account to ‘exhale money’.
As per reports, the newbies have made a net profit of $42,000 and 56% of them still want to sell on Amazon in 2021. 44% of the sellers (who have sold on Amazon for 1-2 years) say, “We like to be our own bosses”. [Source]
Amazon’s share in the e-commerce market will probably hit a remarkable 50% by 2021.
Amazon has been bringing ‘food to the table’ for many. But a percentage of the sellers are disappointed as they are unaware of cracks to sell on Amazon for marginal profits. This brings us to our discussion point.
How to start with?: Making money as an Amazon seller
Starting off may be easy but strategizing it may not. Let us discuss some strategies to start making cash on Amazon as a seller.
At first: Registering your seller account
Follow the steps as they appear on Amazon Seller Central. Register your seller account and start selling.
At second: Seller profile optimization
Optimize your profile as per the keyword research suiting to the needs. This strategy helps to keep the sales hike in exponential lines.
Thirdly: Choose the best products
Choose the trending and most sold product categories like electronics, books, etc. to start with.
Fourthly: Advertise your products
Advertise your products so that you can sell more for more marginal profits. Advertising requires some digital marketing skills. Therefore, hire some professionals to do it for you. Every penny spent should be with the apt strategy.
Fifthly: Warehouse Management
A warehouse should be fully equipped with autonomous machinery for making it error-free. Your products are the only ‘solid’ worth you have as a seller. Hence, you need to make it autonomous to make your deliveries faster and cheaper.
Buying products: Online arbitrage
Online arbitrage plays a significant role in making some extra cash out of your seller account. Online arbitrage means buying from third-party e-commerce to sell on Amazon. For online arbitrage, I would suggest Shopify.
How much money should I invest in Amazon?
The answer to this question totally depends upon the type of niche you choose whilst making money as an Amazon seller. So, get your goals right and start investing to make money online.
Selling private labeled products
Selling private labeled products is the process of registering your own brand and selling remanufactured or manufactured items through it. It is also referred to as ‘white labeling’ or ‘brand creation’. The process has been in the market for two years and can be seen in countless retails stores.
Thanks to Amazon, through FBA (Fulfillment By Amazon) the product is delivered within 2-3 days. This facility is a ‘must opt for’ when selling private-labeled products. One can make around $625 to $1865 per product while selling private-labeled products.
Publishing your own book: Amazon Kindle Direct Publishing(KDP)
Selling books is one of the most profitable businesses on Amazon in 2021. So if you are a writer and want to publish and sell Amazon Kindle Direct Publishing (KDP) is the platform you should look up to. Let us discuss some of the anticipated benefits of doing it.
- Reach the market with a boom: Publishing on Amazon takes less than five minutes, and your book appears on Kindle stores worldwide within 24-48 hours.
- Print more cash: Earn up to 70% royalties on selling books to some countries like the USA, Canada, India, etc.
- Keeping control: Set your own price. Make changes to your book anytime.
- Publish: Publish paperback and digital copies of your writing for free on KDP.
Get started today! Self-publish with KDP for free. Learn how easy it is.
Register your brand on Amazon if you want to sell your own manufactured products. The Amazon ‘handmade’ section is my personal favorite if I were an Amazon seller. Let us discuss some strategies while listing your product to ‘exhale cash’ as much as possible.
- Keep your margins in check. Hither, you can obtain a maximum margin on a single product just through your art.
- Manufacture and sell in the domain of your specialty. This makes your product unique and keeps you away from copyright infringement claims on Amazon.
- Keep your brand in advertisements. This enriches your brand awareness and increases the goodwill of your company.
- If you are a traditional handcrafter as a potter, carpenter, etc. your drafting and designing skills decide your ‘making money’ campaign.
How much is arbitrage successful in Amazon ‘Handmade’?
Arbitrage is not as successful in Amazon ‘handmade’ as you are going to get fewer profits. Nonetheless, if you have outsourced your partners and know what you’re doing, arbitrage is as successful a business model as others.
Merch by Amazon: What and how to do it?
Definition: Merchandising means getting affiliated with a brand and selling on behalf of it. Let us discuss some methods to do it.
Firstly: How does it work?
It’s simple, upload your artwork, choose the dimensions and color of the product and write a product description on the Amazon page. Amazon will create your product page, handle shipment without any upfront costs. This is one of the prominent ways to make money online.
Secondly: Amazon rewards and facilities
Following are the rewards and facilities provided by Amazon when you merch on Amazon:
- Royalty points: Earn royalty points on every product sold on Amazon.
- No inventory problems: Amazon handles the inventory for the products left in stock.
- Prime delivery: Your products are eligible for Prime shipping. Therefore your customers can receive the product fastly.
- Free analysis tools: You will get free analysis tools to analyze and watch your business grow.
- Reaching millions of customers: As you know Amazon has a large user base. Henceforth, you get to choose between millions of customers worldwide.
Conclusion: Does making money as an Amazon seller is easy?
Making money as an Amazon seller poses a challenge. To surpass it is a tough task. But like a wise man said, “Practice makes a man perfect”. Selling more and more makes you knowledgeable and perfect.