Selling through Amazon is a great way to earn a good amount of money while staying in your home. But as with any other business, you will have to develop strategies that will give you the advantage in the marketplace and help you attract more Amazon customers to your products. Below, we will look at five important tips that every Amazon seller must follow in order to make their venture a success.
People are heavily influenced by visuals. If you show a group of people a low-quality picture of a product and a high-quality picture of the exact same product, they will spend more time looking at the latter. Once you understand this simple behaviour, you should be able to realize why it is extremely important to use high-quality images of your product. When customers search on Amazon for something, say a projector, they will see a long list of offers. The users will generally skip over the listings and will only stop and look at a particular offer when the image attracts them. Putting up a low-quality image is the worst marketing you can do for your business. So, if the pictures of the products you are selling are not too impressive, then try changing them to better ones. You will definitely see a spike in interest and probably get more sales.
Manage Accounts Well
One of the main components of running a successful business is managing the revenues and expenses very well. If you can keep the costs down, then you will make a good profit even if the sales are on the lower side. This is why it is necessary that you maintain your accounts properly. Up-to-date and accurate information about the financial state of your business will help you develop short-term and long-term sales strategies more effectively. However, if you are not too confident about your accounting abilities, then you should outsource it. Ideally, try to hire a dedicated Amazon accounting service like The Amazon Accountants. Since they exclusively focus on catering to Amazon businesses, they will be able to help with your accounting matters much better.
Automate And Optimize Listings
Managing all the Amazon business activities on your own can be a stressful task. However, there are many tools that can be used to make the selling process easier. For example, you can use a third party API to plug into Amazon and automatically list your products in the marketplace. This can save you lots of time, which you can dedicate to other important tasks. In addition, it is also important that you take the time to optimize the product listings. This includes choosing the right keywords, writing the perfect description, sourcing attractive images, and so on.
Mind The Pricing
Check the pricing of similar products offered by your competitors and then adjust the pricing of your product accordingly. If you see that a competitor has reduced the price of a product to $22 from $24, then you should consider reducing the price of your product to $21.49. Remember that the Amazon marketplace works like any other market in the world where the seller with the lowest price ends up attracting the largest number of customers. However, you should always make a detailed price analysis of a product, understand the lowest price you can offer, and ensure that you never sell the product for less than this price. Else, the pricing will start to affect your profitability and you will have a difficult time continuing to remain a seller on Amazon.
Fulfillment By Amazon (FBA)
When a customer places an order, they will be expecting the product to be delivered to them by the estimated time. But if your product delivery process is all jumbled up, then it is very likely that many customers will receive the products very late. And in some cases, you may not even deliver the product to a customer. Such incidents will obviously infuriate the customers because of which they will never shop with you. Worse, they might even put up negative reviews about you and discourage even other customers from dealing with you. This obviously will be very bad for your business. To avoid such issues, you should consider opting for the Fulfillment By Amazon (FBA) when you choose the option. Amazon will take full responsibility for storing and delivering the items to the customers. As such, you can be sure that the products will be delivered on time, resulting in happy customers and more positive reviews. However, do keep in mind that you will have to pay extra fees for the FBA program. So, factor in these costs when pricing a product.