There are many ways to make money on Amazon. The world is cozying up to the comfort of getting everything to their doorstep. Right from everyday essentials to luxury wear, the desired products are just a click away from us. Online spaces are easy to use and easy to navigate. With an increased demand for E-commerce and delivery spaces, Amazon is replacing traditional shopping preferences.
Amazon is the largest online marketplace in the world. Started in 1994 as a bookseller, it has now emerged as a one-stop destination for almost everything. Currently, there are over 2.5+ million sellers registered on the platform. There is a multitude of opportunities for everyone who wants to make money on Amazon.
Why is Amazon the best platform to make money?
Amazon does the job of focussing on customer obsession just right. Customer obsession is nothing but improving product features based on customer feedback. The majority of businesses focus on competitor performance and decide based on statistical data. But Amazon values customer feedback and experience. From order placement to delivery, they make sure that everything is executed carefully. The platform hosts nearly 120 million different products of diverse categories. For every search, one can see around 3,000 results.
As a simple rule: Vendors list their respective products on the platform and directly sell the goods to customers. As simple as it sounds, making your product visible in the vast list of thousands of products needs a solid strategy. In case your product is missing the desired visibility or not getting enough traction in the listing, PPC Ads are the perfect solution this platform offers.
PPC Ads are nothing but the sponsored Ads that helps your product to get a higher ranking in the search results. Vendors can pay a small amount of money and bid to place their Product display Ads in search results. Not only does this help sellers to benefit from assured leads, but also helps them in getting better visibility.
Amazon’s success is majorly due to its constant innovative updates. They offer world-class customer service and a great user experience. Users can find their desired product from a range of diverse catalog and can track packages. Also, the return and exchange policy makes the overall experience quite flexible for users. Although there are several e-commerce companies catering to the needs of customers, Amazon has a special place. Year over year, the company sees a positive growth of 25 percent to 31 percent.
Being a customer-centric company got Amazon loyal support from its customer base. Their strategies are not a heavy-invested marketing plan or whooping offline drives. Their main focus has been and continues to be about engaging with customers. As a brand, Amazon does an appreciable job to engage with shoppers. They employed social media as an effective tool to address consumer concerns and feedback.
In addition to their stellar customer service and diversification, Amazon also wins customers’ hearts in the price factor. The competitive pricing advantage comes from the diverse range of vendor-listed products on the catalog. One doesn’t really need to be a manufacturer to list products on Amazon for that matter. Any authorized vendor can complete a set of prerequisites and list products for sale. From a needle to a curling iron, they have a category for all.
For customers to trust any brand or rely on any channel, a transparent shopping experience is an important metric. Right from adding product to the cart to receiving a thank you note for choosing their channel- everything matters. Any customer after placing an order for the product will be curious to know the whereabouts and estimated delivery time. Amazon does the job amazingly well. Though an online marketing place in itself, they take care of storage, pickups, and shipping channels. They make sure that the products reach on-time in good condition.
Amazon employs advanced logistics channels and innovative technology to speed up the process. They have around 175 fulfillment centers around the world. Not only do the customers have a great experience, but also it assures sellers of a better brand presence. The best example is Prime. Prime facilitates the sellers to make the product reach customer as quickly as possible. It also satisfies the customers’ urge to buy quality products for less money. It is a win-win for both buyers and sellers.
To conclude, Amazon dominated the online retail space with sheer potential. Their strategy was not just limited to expanding, but also to change the shopping experience.
How to make money on Amazon
There are multiple ways to make money with Amazon. If one knows how to do it right, there’s a great chance that they can sustain in this large online marketplace. Here are ten recommended ways to get started on Amazon and make money.
Sell on Amazon
Be it a small entrepreneur who just ventured out or an established brand with crazy reach- Amazon is the destination. Millions of people buy products from Amazon every day. The advantage is that you, as a seller, can reach your target customer without much effort. You don’t have to be an entrepreneur who got it all figured out. Even an interesting idea or just a passion for making good money will benefit you here. But how to be a part of the Amazon seller community? Here are the detailed steps.
Select a selling plan
Sellers are broadly classified into two categories: Resellers and Brand owners. If you are not a manufacturer, you can take authorization for selling products of businesses and brands. Reselling is the best way to get started on Amazon in such cases. It is a low-cost investment and a good channel to earn money. If you are an entrepreneur with manufacturing capacity, you can choose Brand owners’ strategy and sell products. Amazon charges a referral fee on every sale you make in both cases.
You can get started by creating an Amazon Seller account with a business email or Amazon customer account. Amazon offers the ‘Amazon Seller app.’ Here you can track your sales, fulfil the order requests, create catalogue listing, and solve customer queries. Although Amazon is an open platform for vendors to sell their products, there are some categories. There are some strict policies around what can be sold and what cannot. For some products, the vendor needs to have a Professional Seller account, and for some approval. Be aware of your product category and list the goods accordingly.
Brand registry is free for people who have a trademark. It helps you safeguard your IP and unlocks some features that are available exclusively to Brand registered accounts. With this upgrade, you can sell your products to Amazon Business customers and reach a wider range of users worldwide.
Fulfillment by Amazon (FBA)
If you are a registered seller with a professional account, Fulfillment by Amazon will be the best to make and save money. FBA offers storage, packaging, and shipping features by Amazon to registered sellers. When you list your products for FBA, they will be eligible for Free shipping and a two-day delivery guarantee. Along with the benefits one gets through this program, Amazon also offers free customer support.
This way, your customers get their queries solved, and in case of any return or exchange requests, you will be notified. You can sell your private-labeled products through the FBA network and can make good money online. Selling Private labeled products is nothing but placing logos on existing products (not manufactured by you) and selling them. You can make the products reach customers real quick and build a reputation as a trusted brand.
Sell your book
If you are an aspiring writer looking for a budget publication, Kindle is the best way. Through Kindle, you can make money on Amazon without much investment. With digital transformation happening at a rapid speed, there has been a growing popularity for e-books. Writing a book is not the end of the story; rather, the main job starts with publicizing the book. Finding the right publishing house and keeping track of all the logistics is a tiring job. Kindle direct publishing helps you connect with your target readers directly. Thereby helps you in earning good money and fame.
You don’t have to be an entrepreneur or manufacturer to sell products on Amazon. Fairly, you don’t even have to sell direct products. If you do not want to sell goods directly on Amazon but still want to earn money out of it, Amazon Associates is the best way.
Amazon associates is a unique affiliate program where you can earn money by selling others’ products. Every Amazon Associate will be allotted a unique link. For every sale that is made through the link, the affiliate can earn a commission. This is the best way to earn money on Amazon without directly selling the products.
Trending prints on T-shirts is the popular fashion choice among youngsters. If you are a social-media-savvy and have a good hold over current happenings, this is for you. Through Amazon Merch, you can upload designs on Amazon and give access to printing them on merchandise. Your designs can serve as personalized gifting options. The designs you upload can be printed on T-shirts, coffee mugs, photo frames, and other goodies. Whenever an order request comes up, they make the item for you, and you can earn from every sale made.
Amazon Services is for entrepreneurs who can offer services for people. If you have a skill and wish to venture out, Amazon Services is the place for you. Even if you are a pro Guitarist or an entrepreneur who can offer unique services to people, there’s always room for you. You can connect with people who are seeking a job to get done. Not only can you scale your business quickly, but also can earn good money.
Handmade goods are trusted and loved. People’s love for art is never-ending. If you are an Artisan with a knack for creativity, Amazon Handmade is the ideal destination for you to earn money. On this platform, you don’t have to pay anything for creating your shop and listing products. Once you create a Seller-centric account, you can apply for the Artisan community.
It is absolutely free to list your products and get the URL. But for every sale you make, Amazon charges a 15% referral fee. You don’t have to make it a full-time gig for earning money online. Joining Amazon Handmade, you can start selling your art or craft at your pace and make good money online.
Amazon Mechanical Turk program
Research and insights are some of the crucial aspects when making important business decisions. While there are many tools and technologies today to analyze data, there are certain tasks that humans do much efficiently than computers. Businesses always prefer gathering core or ground data to make informed decisions.
Mechanical Turk is an online marketplace where businesses outsource their jobs to people who can work virtually and accomplish the tasks. It is a crowdsourced channel through which individuals can take up the tasks on a contract basis. The tasks can vary from content moderation to basic research.
The inputs are highly valued and individuals can make good money by working virtually. If you are someone looking for online gigs part-time, Amazon Mechanical Turk is the best place to get started.
Being a seller is on Amazon is not only about making money, but also saving money. Amazon has many innovative and user-friendly programs that help you make the business process simpler. Any entrepreneur or manufacturer can scale their operations seamlessly.
From customer support to super-fast delivery, this platform takes care of everything. Although the platform is competitive, there are many paid features that give you access to unlock the best features. Even individuals with no business knowledge can make a good fortune out of this platform. To understand more about Amazon’s business model, refer to this article.