Since its inception Amazon has provided a platform for people, small companies and retailers to sell their products and make decent income. However some individuals do not know how to make money selling on Amazon. Some of the steps you can follow to become a top rated seller in Amazon are listed below.
Follow Amazon selling rules and guidelines
After signing up for a seller account. It is important to follow all Amazon rules and product guidelines to avoid getting banned. All this rules can be found in the help section of the Amazon website.
Strive to be an Amazon featured merchant
Getting to be an Amazon feature merchant is one way of solving question of how to make money selling in Amazon. Though Amazon does not say the exact formula on how one becomes a featured merchant, one can easily join this prestigious group after a few months by having good sales and excellent customer feedback.
Be flexible on your pricing
Though everyone’s main aim is to make maximum profits, it is important to have an effective pricing strategy. Check the prices of your competitors and ensure the price difference margin is understandable. In the event your product get more orders, you can slightly increase the price to maximize profits.
Understand Amazon costs and fees
The most efficient way on how to make money selling on Amazon is understanding the fees and costs involved. When you buy a product to sell on Amazon, you have to price it in a way that you will cover your cost and still make a decent profit.
You can eliminate shipping fees by using Fulfillment by Amazon, FBA which entails sending your products to Amazon who will then handle the packaging and shipping to customers.
Amazon also charges a variety of fees including selling and referral fees.
Take advantage of Amazon marketing tools
Amazon has several marketing tools that can help your products get noticed. Some of this tools includes Listmania, Likes and Tags.
Ensure you have enough products to meet market demand
Though most sellers start small, it is advisable to have enough product supply in the event you start receiving more orders. This ensures your clients do not look for alternatives and you increase your income.
Utilize Amazon seller central
The best way on how to make money selling on Amazon is to constantly utilize the seller central reports. These reports helps one analyze sells, potential customers and the effectiveness of promotion and marketing.