Starting a business on Amazon may sound easy, but it is often very difficult to become successful. Almost everyone who starts a business on Amazon gives up eventually. Here are 8 tips to help you launch your business successfully.
Understand the process
There are several business models to choose from when selling on Amazon. It is very important to fully understand every aspect of the process you choose before investing any money or setting up an account.
Here are a few examples of the different options for business models on Amazon’s platform:
- Fulfillment By Amazon
- Individual Sellers
- Amazon Affiliate Sites
- Merch By Amazon
Be sure to review all of your options, know your budget, and choose the business model that best suits your resources and goals. The last thing you want to happen is that you spend a lot of money getting your business set up only to realize that it entails extra steps that you did not allocate time or resources for in the beginning.
Carefully review Amazon policies
Amazon has a very strict set of policies that govern how sellers use their site, display products, and share content via marketing strategies. These policies are updated often so make sure that you review them in detail and then sign up for email alerts to keep track of changes. If you don’t, you might accidentally break the rules and your account could get blocked. Once that happens, it can often be hard to have your account reinstated, so make sure to know the rules and follow them exactly.
Join Amazon seller’s forums
Amazon Seller’s forums are a gold mine of information for new sellers on Amazon. You will be able to ask your questions to the community, see problems that others have encountered who are running larger businesses than you and meet other sellers in your niche.
There are also other forums across the internet that discuss selling on Amazon, such as Reddit.com and Quora.com. Make sure to check out all of the resources available and find a community to join so that you have somewhere to go with your questions as they arise.
Get at least 10 positive reviews per listing as quickly as possible
The more reviews the better, but a good rule of thumb is that you want to make sure each of your products has at least 10 positive customer reviews as soon as possible. This will tell Amazon’s search algorithm that customers are buying your product and enjoying it. There are many ways to procure these 10 reviews, so search the internet for a strategy that works for you.
Always invest a little bit in paid advertising
You have done all of the work of setting up your account and listing your products. So why wait for customers to search for the product when you could pay as little as $10 per month to advertise it?
By investing early on in advertising your listings, you will be able to start generating income quickly and your business will pick up momentum. As the business grows, you can increase the amount of money you spend on ads and grow even faster. If you don’t do this, you are simply leaving money on the table. Aside from marketing, you should also consider investing in automation solutions for Amazon which can elevate your business to a whole new level.
Reach out to affiliate websites
There are millions of affiliate websites that review Amazon products. Find websites that review products like yours and reach out to them to see if they will write a review of your product or include it in an already existing article. You might have to pay them a little bit, but if their site is driving a lot of traffic to Amazon, then the expense will be worth it and you will earn back the fee in no time.
Test different product photos and information
Many sellers create their listings and then leave it at that. They never revisit their listings to make sure the product photos are updated or the product specs are properly displayed in a way that encourages users to buy. However, with a little experimentation, you can discover which photos and information drive the most sales and increase your conversion rate. If you want to try rapid prototype packaging for your listing images, check out these clear stickers.
Don’t give up!
Selling on Amazon is not a get rich quick scheme, no matter which business model you choose. It can take years to make enough money to replace your day job.
Over 90% of sellers give up eventually, so don’t let that be you! Go into this understanding that you are going to have to have enough grit to deal with the ups and downs of the business for a long time before you finally make the kind of money you are hoping for.