Successfully Kickstart Your Amazon Journey!
Want to be successful as an Amazon Seller? Start your Amazon Business Journey!
Well, it’s not rocket science. If you’re looking to start a consistently profitable, self-regulating and efficiently ever-green Amazon business, there are certain elements that everyone needs to be well-versed in.
The internet age has provided a whirlwind of opportunities for every hardworking dreamer that wants to fly without wings. Much like the infamous Gold Rush of the 1800s, the world eCommerce and internet has proven to be the holy grail for visionaries and go-getters.
Hence, today, with its low barrier to entry, Amazon has quickly become one of the most popular routes to business ownership.
So, whether you want to generate a side income or eventually scale operations to make a living off your business, one of the best places to start selling your products is on Amazon!
Here are some tips on how to effectively embark on your Amazon business journey and other fundamental facets that can either make or break your Amazon business.
1. Cut Startup Costs
With rising costs, it’s become more difficult for online e-commerce business owners to boost profits while keeping prices competitive. In this type of situation, it’s easy to focus on generating more revenue, but that’s only half of the profit equation – reducing costs is the other.
In fact, reducing the operational cost of your Amazon business is the most critical aspect when it comes to maintaining a healthy, self-regulating and growing enterprise.
For Amazon business owners, the overhead costs are little as compared to running a brick-and-mortar physical store. And the best part is that there are various ways that entrepreneurs can cut online eCommerce operational costs of business, thereby boosting online revenues. One of the best ways to reduce these costs is through outsourcing.
A good Virtual Assistant can be the difference between a productive a non-productive small business. By outsourcing administrative and non-core tasks through a virtual assistant, Amazon businesses can free up their time to maximize business efforts and results, while cutting down on startup costs.
2. Cross-Referencing Selling and Cost Prices
It’s important to avoid wasting your startup costs and resources by not being careless in your pricing and selling strategies.
Take the time to amply research your product market, niche, and category.
Analyze your competitors, watch their pricing and promotions.
Read the reviews and testimonials from customers who have bought similar products like the one you’re selling via your Amazon listing.
Cross-reference the selling price with the cost price to you, ensure there’s a healthy margin of difference between the two, so that you make the profit when a unit is sold, instead of merely breaking even or worse suffering loss!
3. Utilize the Power of Amazon FBA Calculator
If you’re looking to be successful on Amazon, it is important to understand the beauty of FBA. Amazon offers great quality and delivery, which is why consumers are so loyal to the company.
Having Amazon on your side, organizing orders and handling behind-the-scenes work through Fulfillment by Amazon will undoubtedly attract more buyers and boost your sales.
Now, it is utmost crucial to keep calculating these fees both before you sign up for this service but also over the course of the selling process in order to ensure that FBA is still profitable for you.
The main things you should be keeping track of include:
- ‘Starting costs’ including shipping, photos, samples
- ‘Changing costs’ including FBA fees and returns
- ‘Marketing costs’ including paying for clicks and ad campaigns
4. Don’t Worry About Big Branding
As a startup Amazon business, you don’t need to concern yourself at this stage with big branding.
Focus on the important things such as sourcing the product, quality, customer service, PPC, copywriting a powerful Product Listing, and a seamless buying experience for the customer.
Those are key and fundamental areas which form the very basis of your business at its early startup stages, and you need to constantly remind yourself of that truth!
Big branding can always come later – if the need ever be. Right now focus on your strengths, work on your weakness, outsource work to an experienced Virtual Assistant agency and divert your resources + energy to growing your business, keeping customers happy and getting positive feedback!
5. Improve Your Bestseller Ranking
And last but not least, it is utterly critical that you understand the importance and crucial role of rankings on Amazon. They are the money shot! They are what can make or break a great product and prevent you from earning profits that could have been rightly yours!
Fill out as much of your product listing page as possible, using as many keywords as possible. Use FBA to automate customer satisfaction. Find ways to encourage customer reviews, engage with a happy or disgruntled customer by being honest and sincere, and do everything you can to keep your customers satisfied at all times. Above all:
More sales = higher rankings = more sales!
That’s the cycle.
Moreover, ranking on Amazon is easier than ranking on Google because you’re essentially cutting the work in half. They only use internal factors to determine how a product ranks. Backlinks, social media, domain authority. These are all things you don’t need to worry about on Amazon.
Good luck then for your Amazon business journey. 🙂