Nowadays, there are lots of examples of which type of online businesses you have to pursue. And also, how to make a profit out of it. Gone are the days, when you have to figure out everything by yourselves. This quality happens to be the most significant advantage for you if you are starting as an internet entrepreneur.
It is quite easy nowadays given that you can start your online business quick and easy thanks to the presence of numerous numbers of online platforms.
These platforms help you to go hand by hand with its set of instructions and regulations. This attribute lessens your worries of creating your website, online store, or an e-commerce website. Moreover, these third-party platforms can help in serving long term durations as your venture.
Amazon – World’s Largest Third-Party Platform:
One of such third-party platforms is Amazon. It is also the most robust third-party platform in this digital market. Though it started its business as an online bookseller, it has become enormously vast over the years by expanding its roots to various horizons.
It has referred to as a dominant online retailer, and in its platform, it sells almost everything starting from toilet paper to tennis shoes to high-tech electronic goods.
Amazon also produces its shows through “Amazon Prime Video,” where it also streams movies and eminent television shows. “Kindle Fire Tablet” is a viral hardware tool which is sold by Amazon, which also includes the “Amazon Echo Series.”
It also houses bricks and mortar retail stores as of now. It recently took over the famous grocery food chain named “Whole Foods.”
Choosing Amazon as a Third-Party Seller:
Seeing all these points, anyone can justify that Amazon is a reliable and innovative company. It certainly seems to be very positive for starting an online business, and you as a solo entrepreneur on the internet will be duly interested in getting associated with Amazon.
Many of them do not know the fact that Amazon allows most of the people to sell their products on its digital platform. This feature essentially means that as a business person, you can take advantage of both the brand’s name and its tremendous reach and influence. Amazon has provided this opportunity of third-party selling since the year 2000.
Many versatile reports state that 50 percent of sales in the Amazon platform is through third-party sellers. Hence, if you follow this route, you will be under the association of a good company. Coming to the trust factor, Amazon has shipped and delivered more than two billion third-party items in the year 2016. So, it clearly shows that people do trust Amazon and buy from third-party platforms.
In case, if you already have your e-commerce store or your website no need to worry even then. Why? Because at such scenarios, you can consider Amazon as a platform for expanding your businesses. By this step, you will be able to reach a higher number of customers, which will, in turn, increase your consumer base.
It will also bring in more customers as most of them do not trust to buy products from a lesser-known website. Purchasing your product from a third-party site like Amazon will get them to like your product and trust your brand. Once they start liking your product, then they will purchase it directly from your online store itself.
This feature is considerative to be a lucrative opportunity. This third-party sales account can guarantee you in sales in millions for each year. This factor can also bestow you with a fix or six-figure income as an Amazon seller.
How to Become an Amazon Seller:
Becoming an Amazon seller is very easy and flexible. By the usage of Amazon’s “Seller Central” dashboard, you can manage your online business without the presence of an online website. Amazon itself handles all your work once it has updated in the “Seller Central” dashboard.
But it is better to have your website or a social media account with your business’s name. This attribute will also be a good marketing strategy in letting you know your buyers about your products on Amazon.
The Steps Needed to Become an Active Amazon Seller:
1. Sign up for an Amazon Seller account: At first, you have to choose your seller category and create your Amazon seller account. After this step, you have to set up your seller profile and authenticate your details.
2. List your products: You have to list the number of products and their description which you want to sell on Amazon. If your products to be listed are already listed on Amazon, then try registering them under new categories as new products.
3. Manage your inventory: Always keep your inventory levels full and up to the mark. This step is needed as it can help the customer to purchase your product whenever required, and he doesn’t have to care about the product getting out of stock.
4. Fulfill, and ship orders: After managing your inventory efficiently, decide whether you want to go for self-shipping or shipping, which is fulfilled by Amazon.
5. Receive your earnings: After your products get successfully sold, Amazon deducts its fees. Necessarily the platforms fees and the shipping fees if you have opted for Amazon fulfilled shipping. The balance amount will get successfully transferred to your business account.
The Advantages of Becoming an Amazon Seller:
1. Leverage of traffic: The traffic that comes to Amazon.com is placed under leverage by you, which is close to 150 million per month in the United States. This traffic has brought by folks who are ready to buy. It is a known fact that everyone does not search the website only for your product.
But some people are present in the market who search for products under your respective category. And for such people, your products will be shown in the prime position. This feature is a great way to reach new and first-time customers, and also it enhances your customer base to its peak.
2. Easy selling of products: With Amazon, there are no worries for you in setting up your shopping website. What you have to do is list your products under the respective categories in Amazon’s system, and it will be made visible to everyone who visits the page.
Amazon enables you to follow an online business model and rests your focus on promoting and marketing your products. The systems will do the rest things such as handling of orders, shipping, and delivery in Amazon.
3. It is trustworthy: Amazon is one of the trusted brands as third-party sellers. For any new internet entrepreneur, one of the biggest obstacles will be trusting a site correctly before actually buying onto something. The website should give enough information to the buyer, by which he feels satisfied before actually purchasing the product.
While working under the operation of the Amazon umbrella, this high level of trust is already built-in. Being associated with a platform where people regularly visit for making their purchases results in getting you phenomenal dividends.
How To Make Your Business Profitable By Being An Amazon Seller:
Having a profitable business under Amazon is not a smooth sailing phenomenon. You have to keep a few things in mind to make a hefty profit from your products on Amazon:
1. Develop a Proactive Marketing Strategy:
The myth with most of the internet entrepreneurs is that they think just by listing their products on a platform, people will stumble across to buy them. That’s not how easy it works. You must develop a proactive marketing strategy through which large amounts of people will start buying your products.
You must market your products under a social media account. You must also utilize other tools such as forum marketing, sending emails frequently to people present on your list. And even to those who have already subscribed to your products.
You have to make sure that you always get positive word of mouth for your products from the customers. For example, you create your blog where you post the reviews of customers praising you. You can also post those reviews on your social media account. Do not forget to mention the links of your products on Amazon for a more natural search of your products to customers.
After each marketing effort, start building an email list consisting of the successful customers and automatically start marketing using that list.
2. Picking the Right Category:
Always while selling your products on Amazon, you have to make sure that you place your products in a category where people are most interested. The essential factor to consider while doing so is keeping a watch on the latest trends in the market and following the same.
If you have the idea of making a profit in quick time, you can consider options such as fidget spinners, bey-blades, or goods on sports. These products always stay in demand for sometimes in the year and can guarantee profits in quick time during that part of the year. But if you are looking for a long term profit scheme, then you have to look for products which have a stronghold in the market for a longer time. The products under categories like health and fitness, yoga, weight loss, self-development, and consumer electronics are worth in getting you a quick profit.
An efficient way to analyze a profitable market is by checking Amazon itself. The platform itself lets you know which are the products which are carrying lots of demand from the consumers. It allows you to understand the bestsellers in every category. It is always better to stay in a platform which will continue to need for many years to come in the mainstream market.
3. Still, Know Your Competition and Make Sure You Are Competitive With Them:
Knowing your competitors in the same category of yours will always help you in paying the right amount of dividends. You should start by analyzing their price and also look at the marketing strategy they have enforced in selling their products. Why is this important? You might always feel that your store is doing good on Amazon. But trust me, it doesn’t remain the same for a longer time, as even if you do not heed to your competitors, they always have an eye the progression of your business.
What to do in such cases? Keep evolving. Yes, always keep growing and innovate products the way people demand it. Always try to read the negative as well as positive reviews on Amazon. This quality will help you find out what consumers are expecting from your product and fabricate it according to their needs. This step also avoids the pitfalls and helps in reaching more number of customers.
4. Maximize Your Profits the Right Way:
You might have only one product of yours on the platform. But you shouldn’t stop there. You must always find out ways to enhance your market base and increase the number of products you are trying to sell on Amazon. This attribute will help you in making a lot of money. But having more number of products in the category which is demand will guarantee you profits rather than having lots of products in a group which doesn’t interest customers such.
But which is the prime time to make lots of profits? By taking advantage of the holiday season. Most of the customers love shopping during holidays, and this step will also help you in clearing your stocks sooner. And also make sure your inventory is full all the time, as this season will guarantee you a flood of orders, and only a complete list can handle it efficiently. It’s also essential to take advantage of the holiday season and you can further increase your profits by joining Amazon’s associate program which will guarantee you twice the earnings than before. It helps you with the inclusion of affiliate links for your products while marketing. What does the affiliate link do? It helps you in getting not just the product but also the referral commission when someone buys your product from this third-party platform.