If you are in search of some mind-blowing ideas & tips to run a successful business on Amazon, then believe me, you are at the right place at the right time! As everyone knows, Amazon is the largest online selling platform, it is the King Kong of E-commerce. Amazon FBA (fulfillment by Amazon) is fulfillment by Amazon for the sellers who want to put their business on automation. All the storage, picking, packing, and shipping logistics will be handled by Amazon. Amazon business-success stories are increasing day-by-day, so why don’t you be that frontline success by following these simple tips?
So, are you ready to learn the 5 most useful tips to drive a successful business on Amazon? Let’s get started.
To establish an outstanding business, you need a plan, and to execute a plan successfully, you need a set of robust strategies. Strategize your plan by looking for a winning product. Remember that one winning product can make you a millionaire, but finding that one product is the real task that demands persistence. To be the best seller, you have to think like a buyer. Analyze the needs of a buyer and start looking for the product.
Here are the key elements to consider while searching for a product:
- Analyze the sale rank
- Neither too high nor too low.
- Reviews of the product
- The more customer reviews, the more popular the product will be.
- FBA Status
- I prefer to choose a product that is feasible to sell under the FBA program.
A Well-Stocked Inventory:
Inventory planning and management is the most critical aspect in this business after choosing a winning product. You can take this process as the “make or break” part of your Amazon business. Poor and substandard inventory management can descend your business from its apex to dust. Running out of stock means losing your buyers and sales, while too much stock means high storage fees. So, what should you do to stay in the middle? Analyze the selling velocity of your competitor and invest your time in good inventory management accordingly. Play smart and get the desired results.
Optimize Your Listing:
As per our experience, without a high-level listing optimization, you will lose 50% of your sales on Amazon. The main reason behind this is that A9 (Amazon’s AI algorithm) shows your listings to the searchers/buyers based upon your listing SEO. If your listing is fully optimized with long-tail and relevant keywords, you will be at the top of the spot in search results, and if not, then you are in serious trouble!
In a nutshell, Amazon listing optimization is based upon the following things:
- Search the most relevant keywords.
- Optimize the title, bullet points, and description.
- Eye-catchy and informative pictures and videos (optional).
- Take full advantage of Enhanced brand content.
- Get more positive reviews and FAQs.
Moreover, do not forget to perform the backend-optimization. Here you have to put all of your remaining long-tail keywords in the “platinum keywords” section of your listing.
Reduce your costs:
Everybody needs a warehouse to start a high-level business, and having a warehouse can cost you a fortune. That’s where the FBA program strikes in, as Amazon will charge you per product and will provide you fully secure storage. By doing Amazon FBA, you can minimize your storage cost.
Further, while sourcing your product, get the best price from your supplier by getting his trust. Cost-effective sourcing is considered as half of the launch of your product. The dollars or even cents that you will save from sourcing will be added up to your profit. That, my friend is the hard and fast rule.
24/7 Customer Support:
There is a saying, “It’s not you who is the owner of your business; it’s your customer!” A satisfied customer is a progressive step towards a successful business, so get more satisfied customers to take your business to its summit. If you are doing the FBA program, you have to source your product and ship it to the Amazon warehouse; the rest depends on Amazon (to pick, pack and ship your order). Now, it is your primary duty to provide 24/7 customer support. Manage your returns when the customer is not happy with the delivery or item.
If the job seems hectic to you, then hire a team for this work but never neglect it.