Published:
June 18, 2024
One of the most popular ways to start a business and make good money is by selling products online. And if you intend to make use of this idea, Amazon should be your go-to marketplace. It is one of the largest and most trusted platforms in the market. With a huge customer base, Amazon offers tremendous opportunities for new sellers. However, getting started with the selling process can be challenging as some critical steps need to be followed through carefully. In this article, we offer a step-by-step guide on how you can start selling on Amazon and set you up for success
Let’s begin by understanding what it really means to be an Amazon seller. On Amazon, there are two main plans you can choose from: you can either choose the individual plan, or the professional plan. The individual plan is ideal for sellers who intend to sell fewer than 40 items per month because it charges per-item fee. On the other hand, the professional plan is based on a monthly subscription fee hence ideal for sellers who intend to sell more. The key difference is that the professional plan offers more perks for scaling your business.
You will need to follow these 3 steps:
After signing up, the next crucial thing to do is find the right products to sell. Overcoming this part requires intense market research to identify trends and point out products that have high demand
and low competition. This is a very technical process so you will need tools like Helium 10 or Jungle Scout to do product research. The tools help in assessing different product features like size, weight and profitability.
Knowing what to sell is one thing and optimizing the product listing is another. Compared to a random listing, an optimized product listing has a greater chance of landing a customer. To optimize your listing, there are four considerations you need to make:
Once the product listings are successful, you need to know how to effectively manage the inventory to prevent disruptions. Amazon offers two main fulfillment options: Fulfillment by Amazon (FBA), and Fulfillment by Merchant (FBM). In FBA, Amazon handles storage, packing, and shipping. This can save time and improve delivery times but comes with additional fees. On the other hand, with FBM, you get to manage storage and shipping. This option provides more control but requires more effort.
To drive sales, you will need to market your products effectively. Amazon provides several advertising options, which include Sponsored Products, Sponsored Brands, and Sponsored Display ads. You will need to make use of these tools to increase visibility and bring in more customers. Also, giving promotions and discount offers can entice customers to buy – and when they purchase, encourage satisfied customers to leave positive reviews as they carry a positive impact on future sales.
Getting Started as a new seller on Amazon is both an exciting and a daunting experience – but with the right guidance and resources, you can navigate the challenges and achieve success.
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