Many entrepreneurs begin their Amazon FBA business with all glamour and pomp but don’t see it out to enjoy its long-lasting benefits.
Only 2% of the millions of sellers on Amazon end up building lasting businesses with excellent profit margins.
This may be a concern, but before you give up yet, we might have some information that will help you become a successful Amazon FBA seller.
I will admit that the tips you are about to read are not a walk in the park. So be prepared to dedicate your time and skills to record better performance.
1. Market Your Products Extensively
A highly marketed product helps keep you above 80% of the competition. There are many ways to market your product on Amazon FBA.
Marketing is divided into two; external and internal promotion.
External promotion involves using outside channels to help drive traffic to your listing. It involves the use of social media to create ads, and using influencers to help spread the word online.
SEO is also a great way to rank high on search engines. It ensures that buyers who search on Google, Bing, or other search engines see your product on the first pages.
Internal promotion is all about using Amazon’s own tools to help keep on top of the competition.
The most effective way is to win the Amazon buy box which means prime visibility to attract customers. You can also try to rank high on Amazon product search results considering the price, availability, sales history to rank listings, and selection.
2. Investing In Amazon FBA Courses
It’s good to get some training before you wet your feet in FBA. There are some strategies you will not understand unless you learn from people who have a proven track record of success on Amazon.
Some helpful tips you will get include business set up training, product selection basics, and product sourcing.
There are several free courses in Udemy that you might try out. But if you are a serious seller, there is nothing better than enrolling in the Amazing Selling Machine course. Check out this Amazing Selling Machine review from Performance Funnels.
3. Building A Brand
Building a brand is what separates you from the masses and sets you ahead in the competition. The primary rule of making a name in your niche is to have extensive knowledge of your target audience.
Study your competition to leverage on their weaknesses like price and quality. It will help you gain market share, which in turn helps with reviews and improving sales velocity on Amazon.
4. Use Competitive Pricing
Amazon is a competition platform with affordable products taking the trophy home. No buyer will purchase your top-dollar product if there is a similar item that is three-quarters of your price.
Before you set up your prices, do pricing research and compare with other businesses in your niche. Your price should oscillate around different prices but also be sure that you are not underselling your products.
A useful tool that may help for matching prices is Amazon’s match Low price feature. It allows you to set the preferences that will help you compete effectively.
5. Using Professional Images
Yes, this may sound simple but it’s a deal-breaker if you use it effectively. When anyone is purchasing a product online, they want to see the physical image of what they want to buy.
No one will buy your product if you have old, blurry photos taken with your cell phone. As a serious seller, you should have various professional photos that clearly show what your product is. Nice photos help build trust with consumers and confirm that you are a professional seller.
On prime day in 2018, small businesses in Amazon had double orders with more than 20 million items being ordered in 50 categories. There has been a gradual increase since then.
This hints that there is a great future in Amazon FBA even though it is a tough challenge in the early stages. This is no big deal as it’s merely putting your goals into focus and working hard to achieve them using the tips we have given you.