How To Start Your Amazon FBA Business?
Let us analyze the following tactics given to understand better!
Crave Your Product Through Research
The first thing to remember is to make products easy for people to
buy. Customer satisfaction is a must. The six steps you can follow are: the
Search results for your product should be more; Sales should be higher,
consistency is critical, products, where competition is less, supplying the
materials should be quicker and cheaper, handy products, a sales price between $10 – $70.
The second thing is to identify how that product can easily have your brand name. To do this, the product you choose to make and sell should be something you can relate to personally. Still, at the same time, you also have to look out for competition, how huge the market is for that product, and, as mentioned above, customer satisfaction.
Creating Your Amazon Seller Account
After doing some research, you need to register yourself on Amazon to sell your product when you are ready. The types of accounts are Individual accounts and Professional accounts. If you are serious about the business, applying for a professional report is recommended.
The extra features Amazon will provide with you are Amazon ads, in-depth inventory data, and additional categories you can sell in. After choosing your account, you must create a page for your products. Three things to remember here: Professional photos are mandatory. Make sure that you show the customers exactly why your product is worth buying.
Second, make sure to add relevant words and phrases for your product to come up on the search page.
Third, price matters. On the get-go, you have to be competitive with other sellers. Amazon will charge you fees (8-15% of the price), including shipping. Remember that the amount of products you sell affects the profit you reap.
Find A Trusted Supplier
For a beginner to find out which companies can supply a product, Alibaba is the recommended site. Four tactics to remember when dealing with potential sellers are:
- Use the star rating and certificates to find trustable sellers.
- Ask for many samples, so you know what you are working with.
- Don’t compromise near the price.
- Pay the total price in parts. For example, pay half when your order is processed and the other half when completed.
Choose Your Order Fulfillment
When you talk about order fulfillment, it refers to the method you use to ship your products to your customers. Amazon gives you 2 options for this:
Fulfillment by Merchant (FBM) and Fulfillment by Amazon (FBA). In the first, you do everything on your own, and in the second, Amazon does all the work.
Promoting your Product
Ads can promote products, shown in Amazon in the “Sponsored” section.
Social Media is another great way for you to advertise your products. The great thing about these advertisements is that they’re very affordable, target the right audience, and are accessible to many. A recommendation is that your average cost sale is below enough to get some profit out of it.
As an endnote, we hope these steps will help you start up your Amazon FBA Business.