Perhaps you are looking for passive income opportunities. You reach out to your buddy, who tells you how Amazon is a goldmine. Out of curiosity, you make some research. Stumbling on grass-to-grace tales of successful Amazon FBA Sellers, your face lights up with joy. You're already thinking of starting an Amazon business. You start daydreaming about making thousands and possibly millions of dollars off your Amazon E-commerce store, and you want to create an account immediately.
Hol’ up one sec! You should probably be aware that being a successful Amazon seller transcends merely opening an account and putting products up for sale. If you want to start a dropshipping business, you must learn the basics. Else, you might soon be among 83% of Amazon sellers who are frustrated out of business in less than 5 years.
Follow our Amazon seller guide on how you can successfully navigate the Amazon jungle.
Set Up an Amazon Seller Account
The first step to dominating your Amazon niche is creating an account. The Amazon platform is flexible. You can own an individual or professional seller account for your E-commerce store. You are probably wondering about the difference between the two accounts and which one is more profitable. Just take a deep breath, we will provide more details.
The Amazon individual account is suitable for making sales of not more than 40 items per month. You get to enjoy a free monthly flat fee. But there's a compulsory fee of $0.99 on every item sold.
The Amazon professional account, however, allows you to sell as many products as you can offer. Unlike the individual seller account, you are spared from paying on each item sold. You only have a financial commitment of $39.99 as the monthly flat fee.
To open the above accounts, Amazon requests personal details and business documentation. A working business e-mail account, phone number, business details, bank details and tax information are all vital to opening an Amazon account. After providing these details, you will be verified. You can now start selling your desired products on Amazon.
Sell In-demand Amazon Products
In this Amazon seller guide, you'll recall we said Amazon is a jungle. There are so many product offerings on the platform, and you might not make considerable sales as an Amazon FBA seller if you don't know the best products to sell on Amazon FBA.
Of course, you might have a product in mind before setting up your account. But it’s crucial that you don’t swim against the tide when starting an Amazon business.
To be on the winning team, you have to research the best products to sell on Amazon FBA. Electronic items, health products, and self-development products are examples of items that are in high demand.
One metric to measure the best Amazon FBA products to sell on Amazon is, "high demand and low competition."
That is, you've got a better chance of becoming a top seller if your products are in high demand but with less competition among sellers.
Most importantly, you should learn that trends and seasons influence bestselling products.
Get Category Approval
To protect customers from fake, illegal and harmful products, Amazon devised a category approval method. So, you might have to request approval for some categories of (gated) products before you can sell them on Amazon.
To get approval for a restricted category, select "Inventory" on your Amazon FBA store. Click "Add a Product', then "Listing Limitations Apply." After clicking the "Request Approval" box, Amazon might grant your request immediately, and you might have to wait a while in some cases.
Optimize Your Product Listing
When Amazon FBA seller laments zero traffic or poor conversions, they often overlook product listing optimization. Put yourself in a buyer's shoes. Your wife is about to be put to bed, and you are looking to get baby needs. You will most likely type "Baby clothes" or "New-born baby's clothes" in the search bar. But if a seller offering such products only tags them as "Clothes," his products might not pop up on your end. So, it doesn't matter that you offer the best products. If you don't optimize your listing, you might experience low visibility on Amazon.
So, how can you optimize your listing?
If you want an organic product listing ranking, you must choose your keywords carefully. Take out time to research the high-ranking keywords. This is most likely your competitor's magic trick. Ensure they are smartly placed amidst your listings to give your Amazon FBA Store more visibility.
Apart from your optimized title, the arrangement of your product listing is vital. Using bullet points and great photos is equally essential because humans are visual beings.
Market Your Amazon Products on Other Platforms
Amazon is an online business, and it only makes sense that you market your products on other online platforms. Relying on only customers on the Amazon platform is an unpardonable business mistake (Well, it depends on how badly you want to boost your sales).
If you want to boost your chances of making more sales, you should market your products on different social media platforms. This affords you a wider reach and greater sales conversion since you‘re adding your E-commerce store link to the adverts.
Amazon Fulfillment Options
Like every other form of business, Amazon has its own peculiarities. Depending on how willing you are to take risks and satisfy customers, Amazon Prime has the Fulfillment by Amazon (FBA), which is an Amazon automation store, and Seller Fulfilled Prime (SFP) options.
You can start a dropshipping business by opting for the FBA program. Here, you have to send some of your products to an Amazon fulfillment center. The center is responsible for product safekeeping until customers order for them. In short, Amazon is responsible for delivering such goods to customers' doorsteps.
On the other hand, Seller Fulfilled Prime means you've got to handle the shipping process yourself. You are also liable for any returns if the customer is not satisfied. The ball is in your court to choose the most suitable Amazon FBA program.
After selling on Amazon for some time, you should be keen on the market expansion. Or would you rather remain a local champion?
There's no better time to engage in cross-border trade than now. Amazon has even made a special provision for this through the Amazon Global Selling program, which lets you ascertain the best countries to sell your products to while maximizing profits.
The Bottom Line
After creating your Amazon account, you should monitor it closely and evaluate your progress over time. Starting an Amazon business is easy compared to the work you've got to put in after. Don't hesitate to continually optimize your listing if need be. Likewise, ensure that your products are not defective.
Above all, bear in mind that Amazon is a customer-centric company. Ensure to respond professionally and nicely to customers' needs. Meet their demands, and you will keep flourishing on the platform.