Amazon is one place on the web that is unique because just about anything and everything can be sold there. It has thousands of visitors every single minute.
Numbers do not lie: when people want to shop online, the first thing they do is look at Amazon. According to ComScore, Amazon is the online retailer with the largest number of unique users. In 2015 BloonReach found that 44% of people who make online shopping go directly to Amazon to find the product before trying any other site.
It is very likely that the percentage is higher today.
This means that it will bring a lot of traffic your way, meaning that selling items on Amazon is an incredibly effective way of making money.
You can make use of Amazon in whatever type of business you have. There are just some important things you need to consider.
For example, if you are looking to sell on Amazon as a merchant, you will need to pay fees on every sale you make.
This fee is used by Amazon to process just about everything from storing your products to shipping them out to your customers.
Questions to Ask Yourself Before Selling Your Product on Amazon
The competition is fierce on Amazon!
To differentiate themselves from competitors, increase product awareness and attract your target consumers need to leverage yourself and your brand as a resource.
If you are trading in a category of highly saturated products such as fitness or the children’s toys, you have to help your customers understand what makes you and your better than the others, this especially if your target consumers can easily find similar products on Amazon, but at a lower price.
Besides fees, here are some of the top tips you haven’t considered before courtesy of Link Digital, a web design and digital marketing agency based in Hertford.
Is your product even going to sell?
Let’s start off with a harsh, but true point. Is the demand for your product from customers even there?
Before you even begin selling, you should spend some time actually researching the products that sell.
The best selling categories are a good way to research Amazon, as will looking at social media trends and customer’s recent purchases through Amazon.
How are You Going to Get traffic to Your Product?
When you have decided what products you are going to sell, you can use your own website, social media accounts or blog to direct people to the Amazon products so they shop from there, using your link.
In order to get the appropriate level of traffic, you need to ensure that you are on the top ranking lists of Google and to do this you need to ensure that you have content that is optimized to phrases and keywords you are targeting.
Your website can also be used to collect email addresses that you can send promotions of specific products.
Your Facebook page, for instance, can be used to drive much-needed traffic to your Amazon site.
Is it time to hire an accountant?
When you have a relatively small business, it is fairly easy to manage everything on your own. However, as it expands and grows, it will be much harder and it might, therefore, be time to hire the services of a professional and experienced accountant.
When working with Amazon you need to understand completely the data that is coming in and the information about sales.
When you have the finances to afford it, you should hire an accountant to do this work for you.
Some of the major signs that it’s time to hire an accountant include:
- What was once simple accounting is taking up too much of your valuable time, time you could be using to do things to push your business forward
- You regularly make mistakes with settlement statements
- You are operating in numerous international markets and finding it difficult to care for all the fine details regarding currency exchanges, taxes and fees
- You are on the Amazon FBA program and need help from a professional to understand the twists and turns involved in this kind of business
Have you Thought About Supplies Management?
Your inventory on Amazon is not static. It is crucial that you continually manage your supplies and inventory as time goes by and whenever changes occur.
If, for instance, you notice that sales are falling, this is a sign that you need to refresh your inventory.
Pay close attention to the things that are selling and the products that are perhaps in higher demand and need to be more regularly resupplied.
Monitor the sales rankings of particular products and stay up to date with changes so that you are ordering the best products and focusing on different types of products.
Is it time to cut your losses and try a different product?
If you notice that the number of visitors you are getting to your pages is rising, but people aren’t buying, it means that people are not as interested in the items you are selling.
Another sign to be aware of is if customers are not as consistent at leaving positive feedback.
It should go without saying that if complaints about your products are on the increase, this is a clear sign that your company or Amazon account, the products you offer and the services you provide are not satisfactory in the eyes of your customers.
It might be time to change tactics and look at selling another product that people want.This post might be a rude awakening for the wannabe Amazon store owners out there, but asking these difficult questions ahead of time will save your bank account from a world of hurt.
- 1 Questions to Ask Yourself Before Selling Your Product on Amazon