Posted by Small business owners often want to know how to succeed on Amazon. The answer is simple – you have to take it one step at a time. So with that, here are eight things every seller should remember when selling on Amazon.
1. Create a Professional Amazon Seller Account.
If you’re looking for money-making opportunities or the best investment ideas, you will come across selling online as a popular option, mainly selling on Amazon. Lots of web traffic is on this marketplace, the target market is diverse, and it’s incredibly accessible for everyone. This is why Amazon has become such a viable option these days as a means to profit online.
With that, it’s time to create an Amazon seller account. You can either use your existing customer account or create a new account for selling with your business email. Once you’ve completed this, it’s time to select the selling plan best suited to your needs and goals.
Currently, there are two selling plans to choose from: individual and professional. If you don’t have too many products, an individual seller account priced at $0.99 per item might be better for you. It’s a perfect option if you’re still new to selling online and experimenting with products to see what works in the market. The drawback to an individual plan is that there is a selling cap. You are also limited to the services available on Seller Central and don’t have access to all the selling tools.
On the other hand, if you’re aiming to receive more than 40 units a month, selecting a professional seller account that will cost you $39.99 monthly is a more cost-effective option. Here, you can take advantage of further maximizing your reach through Amazon ads while using a variety of Amazon seller tools and features. It’s also ideal if you’re planning on selling products in restricted categories.
You can always upgrade your selling plan in the future if you don’t want to rush into committing to a professional account just yet!
2. Make Sure to Read Amazon’s Rules on Selling
With any business, you always aim for things to go as smoothly as possible. Amazon can be a pretty hectic marketplace to be in, but once you get the hang of it, you’ll eventually realize its advantages over other e-commerce platforms.
Since Amazon is such a big space, it’s only reasonable to have strict rules to help control it. You can read Amazon’s seller policies on their website. It’s advisable to go through this important document first before you start selling. That way, you’re already familiar with rules and can use this knowledge to avoid penalties and account suspensions.
Going through this long read will pay off in the long run.
3. Know Your Products Very Well
Some sellers don’t realize how important it is to know their products extremely well. It may surprise you to know how many people don’t put much thought and research into what they’re selling. It’s for this reason why some businesses fail even if they have a good product.
When you have your products, you should know them down to the core. This way, you can respond to your customers and answer every question they ask you about it. In addition, you’ll be able to provide an accurate and detailed description of your products since these are your customer’s initial points of reference and a deciding factor on whether they’ll buy your products.
4. Your Listings are the Cornerstone of Your Business
If you’re an Amazon seller, you should never underestimate what a well-done product listing can do for you. The golden rule of selling on Amazon is that your listings are the foundation of your account and basis for success. Consider them as your store’s window shop displays. It should be visually attractive and enticing enough for your target audience to want to click on it and buy it.
5. Price Your Products Accordingly
Because Amazon is a competitive space, you should track how much your direct competitors are selling their products.
If your products are generic, you’ll want to avoid pricing them higher than your competitors since your customers will easily navigate towards the cheaper alternative. However, if you want to maximize your profit margins, you can invest in labeling and branding your products. This will serve not only as leverage against your competitors but it’s also what will make your products unique.
6. Invest in Amazon Ads to Gain more Reach
On Amazon, it’s critical to do everything you can to have a competitive advantage over your competitors. Aside from pricing your products accordingly, you can also invest in Amazon ads. Check out Successful Financial Planning for your future. Amazon’s Pay-Per-Click (PPC) system is a part of their services to help sellers become more visible on their platform.
You can choose from the following types of Amazon ads:
- Sponsored Products
- Sponsored Brands
- Sponsored Display
- Video Ads
- Audio ads
- Custom advertising solutions
- Amazon DSP
Each type of advertisement is geared towards a specific goal. For example, if your goal is to make your customers more aware of your brand, you should opt for Sponsored Brands as your ad type.
On the other hand, if you aim to retarget customers who have previously looked at your products but didn’t proceed to buy them, Sponsored Display ads are the perfect choice for you. Given these Amazon ad choices, it’s critical to know the most applicable one for you.
7. Gain Authentic Customer Reviews
You may not realize it yet, but customer reviews play an essential role in purchasing power, especially on Amazon. Customer reviews will help boost your sales, especially if you’re a new brand. If you’re selling something new, having reviews will help other shoppers reveal actual experiences with your product.
Your listings, along with their most accurate descriptions, photos, and videos, may not be enough to entice a shopper. People these days are more likely to be swayed by the opinions of real customers and customer experiences. Did you just start a medical career and thinking of Investing in Pharma Stocks? Then look here for the best things to consider. Although your listing provides product information from credible sources, a potential buyer will look at other customer-generated reviews.
With that, putting effort into gaining genuine reviews from your customers is a big part of selling on Amazon. Provide incentives or follow up with customers once they have received their orders. Some sellers also use personalized notes with review requests on their products, but be wary of Amazon policies to keep in mind when writing them out. It may seem like it’s additional work for you, but it’s worth it in the end.
8. Maximize the Use of Your Seller Dashboard as a Guide for all Information
Your Amazon Seller Dashboard is there for a reason. The Dashboard contains information and statistics related to how well your business is performing. Here, you’ll see news, orders, seller forums, payment, and sales summaries. Use these tools to your advantage by reviewing and analyzing them. In addition, you will get to observe your business’ performance in real-time. Read here about the smart choice of systematic investment planning. Since the data is always accessible, you won’t have to wait until the month-end to see if your operations went great. Instead, you’ll see how well your business is doing daily.
Don’t make decisions about your business without accurate data. Instead, maximize the use of your Amazon Seller Dashboard. Use this information to make changes or improvements to your current system. With this, there’s no more room for second-guessing! You can now make impactful business decisions confidently.
Keep These Reminders In Mind As You Go Along
Whether you’re new to selling on Amazon or you’ve been doing so for a long time already, always keep these essential things in mind. Amazon is an e-commerce giant, so it’s easy to get overwhelmed. Fortunately, there are many resources available to help you along the way. With that, you’ll find ways to protect your brand on Amazon along the way, which will help you sell successfully. You’ll be surprised to know how much material there is to read through about Amazon.