You’ve been doing all the homework by researching everything from articles over the internet, watching Youtube videos, and running your fingers through pages and pages of articles. You exhausted yourself by putting in so many hours of work, missed a lot of gatherings within your circle and friends, and not to mention spent some of your hard-earned money. All this hard work for one main goal is to prepare and step up your game to become an Amazon seller.
We know you are searching for answers on how to become a successful Amazon seller. Worry no more for you. Here are the ways you need to do to earn as much profit as you can in your online business and become the next Amazon superstar!
Just like any other business, you should know the ropes around Amazon. Learn how to create an account, the requirements you need to prepare, the terms commonly used in the marketplace, and the fees applied to every product you sell. You also need to understand that there are two main programs offered – the FBA and FBM.
FBA is Fulfillment By Amazon. Amazon will help you with the storage, inventory, and delivery of your items to your buyers. Of course, it comes with fees. These fees can be quite challenging to understand, especially if you are just starting. Fortunately, you can acquire a tool to make fee analysis easy. It is the Amazon seller calculator or FBA calculator. From the Amazon referral fee to the fulfillment fee, a seller calculator will help you see all the fees applied to your item, plus it gives you a clear picture of the net margin for you to have profit. Through it, you will have better decisions on improving your e-business.
Another alternative for Amazon sellers is FBM, which means Fulfillment By Merchant. The merchant or seller takes care of everything, from product storage to shipment to the customer. Fees are minimal, but all customer service related tasks are on you.
Once you understand how Amazon works, you can process to create an account. Here is the following information that you need to make available before you sign up:
- Email Account (preferably a business email account) – If you do not have one before, you need to create one. Once you register your email account, Amazon will start emailing you straight away after submission. Ensure that your business email address is a working one before you commit to filling in your details.
- Business Details – More to your business email address, you will also be required to submit your business details, and these are your name, your address, and your contact details.
- Bank Details – You are required to have a credit card to cover the cost of Amazon subscription. Besides, you will also be requested to submit your bank details for the Amazon account you created. It will be used by Amazon to deposit your funds.
- Your Phone number – Amazon will be contacting you during the registration process, so it would be best to have your phone ready, fully charged, and close to your reach.
- Tax Details – The last of the details required with the same importance as others mentioned earlier is your Tax Information. You have to prepare the information needed like your Social Security Number or your Federal Tax ID, and your State ID Tax Information.
Once you provide all this critical information, there will be a verification sent to your email. You are now ready to be the next Amazon superstar!
You should pack a lot of patience, time, and effort to find the right product. Once you realize you found it, you will just feel that all those hours spent looking for the correct item will be all worth it.
Look for a product that is high in demand and has little competition
It all comes down to this when looking for the right product. You need to look for a product that is high in demand and has little competition. One way to find out if an item is in demand is to look out for reviews. If a product has less than 30 reviews and is selling at around 200 units or more per month, then that product is one item you can start with. Along with other factors like checking out trending articles or items with rising popularity, if you consider following the review check, you are all set.
Now that you have the product, you need to find a trusted supplier and shipper. It would be best if you found someone to supply and to ship to your Amazon FBA Warehouse. Find a service provider that understands your vision and product. You and the company need to come into an understanding of what you want, what your expectations are, and how you get along with people. All this applies to your prospect manufacturing company and shipping company.
Reach out to many suppliers or potential companies that will be your partner for this business. It would help if you also prepared your questions and templates ready before reaching out to your potential business partners. They must be relevant and vital to you and your business. After deciding on the series of questions, you need to create an email template that you will be sending out to the companies you found. Doing this will make it easier for you to evaluate who you want to proceed with as they reply.
Investing time, effort, and (a bit of) money on marketing is necessary to get your target audience’s attention. Create an interesting listing through the smart utilization of Amazon SEO. Also, ensure to find the best keywords and upload great photos to get those customers looking at your listings.
A superstar is you looking at success. Becoming an Amazon superstar isn’t easy. You will meet lots of challenges, hiccups, and mishaps along the way. What’s important is you pack your battle with knowledge, confidence, and perseverance, plus utilize the right seller tools to get you going.