Successful Amazon Seller In 6 Steps.
Successful Amazon Seller In 6 Steps - Do you want to be successful on Amazon? Do you want to start selling on Amazon to build sustainable monthly earnings? Well working from home becoming a successful Amazon seller has never been easier.
First, like any business, you need some capital. You can't come into this like I got 20 bucks. The golden rule to use is to have two and a half times the amount of capital you require. So if you put your first inventory order in, let's say it costs 500 bucks, you want to have two and a half times that amount of capital just to account for any contingencies. For a reorder, who knows?
If you're not putting the money aside to do marketing, PPC marketing, to do all those extra things and potentially order, reorder inventory, you're going to be messed up. You're not able to succeed, and you're going to be stuck with a product and no capital to be able to do anything with it. And that first inventory order you put in is being quite small, you're probably run out of inventory. It's nice to have that extra capital to put that order in before all that cash flow comes back to you from Amazon.
Six simple steps that will get you to this path. There are six steps in this journey to help you lift in sales on Amazon.
Learning is a never-ending process. In this journey too, the more you advance, the more experience and knowledge you get. But there are some pre-requisites to your Amazon journey which you must know about it. There are unlimited courses available online which may help you in giving exposure. Sources like youtube.com/, udemy.com etc. have really encouraged sellers to kick off their businesses. From making money on Amazon to finding a profitable product, finding suppliers and private label products, listings and PPC marketing campaigns. One must be clear what you need to do and exactly how to do it with tools so that you have a clear picture, and you are ready to act.
What to sell on Amazon? There are 650 million products on Amazon, which one should you sell? Do you know that only 1% of the Amazon products are profitable? How do you pick a product that works? Simply go to product hunting tools and try to look for a product using filters to sort by price, weight, estimated sales reviews, keywords etc. this will help you select from a short list of products. Add products you like into Excel sheet.
Now you have a list of ideal products. However, products don't exist alone, they have competitors and market type. You have to know the trends, sales volume and quality of competition to be fully ready to succeed. See whether niches you have in mind are doing well or are going to eat up your investment.
Find a tool which shows you if a product niche is profitable or not. This cuts the amount of research that is needed. You will need to check every product in the niche for the following sales volume and daily sales history for the past year, so that you can see if the niche and its products have had stable sales throughout the year. You should also check on seasonality and more bestseller rank (BSR) a rank of a product in its category that reflects its sales in that category. The smaller the rank the better the best numbers in categories, such as baby are one to 30,000 this means that the product is great and always has sales. If there are various products with low ranks in a specific niche you have found a niche that is in great demand. Reviews its great if a brand has just a few reviews on average but a lot of sales it means that products here don't need a lot of reviews in order to get sales.
What you need is to find a niche where at least few sellers on top of the market but have below 300 reviews. Look at average prices, there should be more than $15 for margins. The revenue should be higher than $3,000, and make sure to pay attention to net margin. The cost of products and Amazon FBA fees should not eat up all your profit. So look at FBA fees and a profit calculator as they will help you do your accounting. Upfront listing quality look for niches with low-quality listings this way you will have easy entry into the niche since you will be able to make a better listing.
So you have selected a fantastic product. Congrats now you've got to source it. Sellers often think it's tricky to source products you can go on Alibaba.com which is a sourcing website specifically for the products you are looking. You must learn how to negotiate with suppliers and get a private label product and ship it.
How will customers find your products on Amazon? How will you pull their attention and make them notice your product. The appropriate keywords(you will need to do a keyword research) and a good quality Amazon listing will help customers find and understand your product. Learn how to use reverse ASIN keyword lookup to track competitor’s keywords and instantly move up to their level. From this approach you may find even more keywords relevant to your product and give you an edge over competitors. You need the right keywords for listings, title, bullets, description, backend keywords and PPC campaigns. This will endure customers to find realize and buy your product. Make sure your listing is high quality if it is not than you must learn how to improve it.
Stay ahead of the market once you launch your products. It's hard to tell if your PPC marketing is useful. You might be spending money on PPC when it's unnecessary. It is crucial to do a research fast and get an image over the competition. Find out your future Amazon FBA fee and other fees to see the profit you will make on a given product, make sure your margin is large enough to make a profit after all costs of the Amazon FBA calculator.
There are numerous ways, several approaches to commence your Amazon journey. After all it’s all about mindset. If you have strong determination, and you have the right attitude than you can find the proper way to kick-start your journey and can surely become a successful Amazon Seller.
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