Imagine yourself coming back from an adventurous, off-the-grid two-week vacation that you thoroughly enjoyed and now you’re ready to take on the world. There were no work emails, no calls, and no late-night strokes of bad news. On the flip side, you learned that your team scored a big corporate client, fixed a nagging issue in your absence with no red flags or fires to put out.
Sadly, for most entrepreneurs, this is a dream scenario. They continuously check on what’s happening because any moment things can go out of control. Everyone dreams of being wealthy and successful. However, if it were that easy, we’d all have it. When it comes to Amazon, growing your business on this platform is a tough nut to crack. It demands laser-like focus and determination. From scratch to making $100,000 in the first 30 days does sound great, but it isn’t realistic.
To run a profitable business on Amazon requires much time, energy, and focus. Sellers must learn everything about Amazon platform or emulate the companies which are already successful.
Selling on Amazon is an extremely profitable business. Small business owners and authors are making handsome money (like $277 B) out of Amazon. This gives space to entrepreneurs and startup owners to make a massive profit out of it.
Starting a business on Amazon might be easy, but to sell your products is to put on a brave front. Peter Drucker said that there are two functions of business: Getting new customers and retaining them. When you try to make a sale on Amazon, which of these functions are you falling under?
This is a tricky question. Most of the people will answer getting customers is the hard part. It is none of the two. It’s Amazon’s customer. Until you get that person to choose you over the competition, it’s not your customer, and you can’t follow up.
There are some ethical ways in which you can scale your Amazon business naturally.
Before you start, let’s look at some of the essential elements that can help you kick-start your Amazon business.
Introduction to Fulfillment by Amazon (FBA)
You can call it make-more-money-and-grow-your-business-fast-and-save-time-and-delight-your-customers-by-Amazon but because this sounds insane let’s stick to FBA by Amazon. FBA makes your products more visible to millions of loyal, happy customers and makes your business successful.
Here is how it works.
You send your inventory to state-of-the-art Amazon facility near your home. When customers buy your products, Amazon will pick, pack, and send your products under your customized packaging.
How to find best-seller products on Amazon?
Go to Google.com and search ‘Amazon best sellers’
Click on the first search result.
This is the page where you need to focus all your energy and resources because this is where the customers find the best-selling products organized by categories.
Select any category to look further into the best-sellers in that category.
Things you need to look for when selecting a product:
- Ensure that the weight of the product is less than 2 pounds. (Check under Product description)
- Never choose a product that could cause liability issues. For instance, small part products that can become be hazardous for kids.
- There should be many product photos.
- For starters, it is good to pick products worth less than $20.
- To stand out from everyone else bundle and sell two products.
How to create an account on Amazon?
How to upload a product on Amazon?
Here are some of the tips that can help to create a sustainable business on Amazon:
Focus on Profitability
- Once your product is sold, make sure that you stay in front of customers. Use retargeting ads, fantastic customer service, and advanced packaging.
- Identify who your core audience is, communicate with them, build goodwill, and develop a strong relationship with your customers.
- Invest an immense amount of attention to content creation. Emails, customer service, and follow-up offers can reengage customers.
Storm through the first sales
- Getting the first order is easy. What happens after that first purchase is the real deal. Turn that one-sale into recurring orders. Try to figure out the journey of the customer and how you can support and serve the customer for an ongoing basis?
- When you make that first sale, it is your opportunity to create an experience around that customer from delivering the product to customer service and post-sale service. Don’t just leave your customer; take feedback from the customer.
- Another great tip is to bundle complementing products together or carry out cross-selling. Bundling will force customers to buy more products from you.
- For instance, if you have a fitness company, you can sell products related to muscle growth, supplements, gadgets, and bundle products which are best-sellers.
- Instead of just thinking about the product, think about the customer. Doing this will open up new opportunities for you to show up in front of your customers.
Shift Your Mindset
- The end goal of your business is to sell continuously on Amazon. If the product is not selling, it means that you need to try different methods to increase sales.
- Anyone can copy your products, content, and get more reviews than you. However, one thing that no one can copy is your branding and customer engagement. To be highly successful on Amazon, focus on creating a memorable customer experience from start to finish.
- When you focus on the customer, the result will be less competition and more customer loyalty, and you’re able to build a business that is scalable and more lucrative.
- I know friends who’ve to build eight-figure businesses that are sellable and have sold companies for $7 million to $10 million. This is achievable if you can dial in the Amazon processes, but also building the other parts of the brand that are also important.
Starting an Amazon Business is a great way to sell products and launch entirely new brands while letting Amazon do all the heavy lifting for you. As an Amazon seller, you’ll have the ability to plug into a highly successful ecommerce ecosystem and tap into an extensive buyer network. Add Amazon FBA to your seller account to further automate your business and build your business on near-autopilot. Happy Selling!