Help! How to Make Money with Amazon?
If you're an eCommerce seller wanting to make your businesses more successful, check out our tips on how to make money with Amazon.
Keyword(s): how to make money with Amazon
Are you looking to become the next e-commerce millionaire? Perhaps you've heard about Amazon FBA and want to learn more.
One quick Youtube search may yield a seemingly endless list of conflicting opinions. Worse even, some query response websites cloud the truth with responses that deter people from great ventures or encourage them to pursue avenues that benefit the author's own e-commerce interests.
Becoming the next success story won't be a cakewalk but if you're prepared to sharpen your own discernment skills and put in the time and effort requires to source a stellar product, you can make your e-commerce dreams come true.
Read on to a few of our top tips on how to make money with Amazon, source, market, and stock your own unique product.
How to Make Money with Amazon: The Basics
Selling on Amazon is one of the best ways to get started in the e-commerce world. Amazon FBA is a service that allows you to list your product on the Amazon marketplace and have your inventory distributed by their own warehouse staff.
Once you select a product to sell, you can have the product shipped directly to Amazon. That's right! You won't even have to deal with the inventory.
Not having to deal with a garage full of boxes is another reason why Amazon FBA has become so wildly popular. Amazon will do all of the work dispatching your order and your family will be grateful that you haven't turned the dining room table into an order fulfillment warehouse.
Finding a Product
Finding a product is easier than ever, but knowing what it takes to select a great product can be a bit tricky. If you're new to the Amazon fulfillment world, you'll want to start with a product you can trust.
You'll want a high-quality product that is relevant and not already oversaturated in the Amazon marketplace. Remember fidget spinners? We do too, don't do it.
As you begin your selection process, you'll be looking for an item that is well made and has great reviews. If the product itself is new, it may be worth the risk, however, the manufacturer you're buying from should already have a strong history of positive interactions.
If you're looking on a platform like AliExpress, you'll want to ensure that the product your customers receive is actually the product pictured. Chinese companies are notorious for using photos that don't actually belong to them.
Translation? There's a good chance that the item pictured in the listing wasn't actually manufactured by the company behind the listing.
They may be selling a similar product, but you should never decide on a product without receiving a sample. After you review the product in person, you'll be able to validate the quality for yourself. The experience you have with the wholesaler/manufacturer can give you a good idea of what you can expect if you decide to business with them.
Dealing with Damage
You'll also want to make sure that the manufacturer isn't going to charge you an arm and a leg for shipping. Picking a lightweight product is always a good idea for new sellers.
This is because heavier products can create greater shipping costs. Plus heavier items may be more likely to damage the other inventory during shipping.
You'll also want to make sure that your item is relevant and that it doesn't contain fragile materials like glass that can be easily broken in the mail. Damage can be a costly expense for those who overlook the fragile nature of their product.
Blowing Away the Competition
If you want your product to make a splash, it's important that you pick a product that isn't already oversaturated. This means that if there's a retailer that's already sold a thousand nearly identical units, it can be difficult to play catch up.
Pricing is important but it can be difficult to crack a market that is already dominated by highly reviewed products.
Profit margins can vary based on the price, value, and desirability of the product. Jewelry is a perfect example of a lightweight item that can sustain significant upcharge.
A kitchen spatula, on the other hand, may not be able to sustain significant inflation. In essence, while the value of jewelry may be in the eye of the beholder, few people are willing to pay $25 for a single spatula.
Getting reviews is the difference between your product getting noticed or going unsold. This is another reason why it's so important to pick a great product.
If your product doesn't function well, is cheap, or breaks easily, you can run into some big problems. Amazon's great return policy protects customers, not sellers, so if your product isn't a winner, you may find yourself in a heap of trouble.
Bad reviews discourage future shoppers from picking your product. Further, this deterrence doesn't just mean they won't buy your product. Choosing to buy from someone else (and leaving them a glowing review) further pushes your product away from receiving the level of attention it deserves.
More on Amazon FBA
Want to learn more about how to make money with Amazon? We've got you covered. Our website features a vast array of information to help propel you toward success.
Looking to turn your side hustle into a full-time venture? Visit more of our blog for more information on how you can get your piece of the pie in the e-commerce marketplace.