Curious how to start Amazon business in the smartest way possible? No wonder! Becoming a seller on the world’s most famous online marketplace, one that 89% of US customers named their top ecommerce go-to, is incredibly exciting. To have your brand and items listed and ready for millions to see is quite the feat!
But how do you navigate making your brand seen and items purchased in such a competitive landscape? Read ahead to find out 10 ways to succeed as an Amazon seller in 2022!
#1 How to start Amazon business and succeed: begin with niche creation
Are you starting a general store or narrowing down to a very specific focused brand? In any case, create something that is meaningful and of value to a certain audience in mind.
Next step is to find matching products that will offer appeal, functionality (whatever value you choose). Your niche can be wide (ex. Biking enthusiasts) or narrow (ex. Male biking enthusiasts who are in their 30s, single, and making more than $60k a year).
#2 How to start Amazon business with unique offering: get your products made for you specifically
Whatever it is you’re passionate and enthusiastic about, Premium Products service can turn your lifelong interest into a viable brand.
From signature products design and manufacturing to warehousing and logistics, you can outsource your product-related tasks with ease. The items made for you will be ready for selling on Amazon (or an independent online store of your choice), simplifying your startup journey.
#3 Scope out competition
As you start Amazon business, grabbing inspiration from brands you look up to can help. Creating mood boards can also help nail an aesthetic, brand voice, and feel. If there is a specific brand you like or look up to, peep how it crafts its messaging and visuals. Find ways to incorporate and emulate the qualities that you look up to.
It also helps to research big names in the industry that are well-recognized, in addition to brands that you may not personally love, but know do well in sales or brand messaging.
#4 Do product research
Let’s say you want to sell drink tumblers. Cool. But what kind of tumblers are trending now? Insulated? Glass or steel? Ones that use eco-friendly materials? Ones with or without straws? There’s a lot to consider in terms of features and designs.
Conducting research is key to understanding the consumer demand, trends, and overall market for your niche.
#5 Have a plan and budget
Once you’ve defined your niche and brand and done thorough work on your competition, you can start envisioning the cost it will take to start your Amazon business. As an Amazon Seller, for instance, you can decide if you want a Professional or Individual account, any marketing add-ons, or other extra tools to take your brand forward. You can also consider volume of product, employee costs, and other things, such as if you want to spend more on a trending design for an item versus one that is more generic and cheaper to produce.
#6 Price competitively
About 68% of online shoppers use Amazon to price-compare, seeking more competitively-priced items. This is a good indicator that price is a huge determining factor in a successful purchase on Amazon.
In planning your budget and financials for your brand, be sure to calculate your profit margin and see if you can make enough profit while still pricing aggressively against your competition.
#7 Keep eyes on analytics
As an Amazon Seller, you have access to Seller Central, a content management system. From your inventory level to returns percentage and customer-left reviewers, utilize all you have at your disposal to find out how your sales are doing and how shoppers view your offerings.
So you may be well on your way to successfully listing products on your Amazon Seller Central account, and that’s great. From product imagery to specs, details, and alluring descriptions, there is a lot to be done to create the perfect listing.
#8 Optimize your product listings
Sell your item with words and imagery – and keywords. Creating the right product listing is as critical as keeping your inventory in stock. Key elements to optimizing your listing include:
- Using keywords in the page title, product title, and throughout the description
- Utilizing high-quality imagery and A+ Content layouts
- Touting and highlighting item features and benefits to attract buyers
#9 Keep on top of customer service
From buyer questions left about a product or reviews and refund requests, keep your eyes on your Seller Central dashboard every day to ensure you don’t miss any notifications. The longer requests or messages go unanswered, the less likely a customer is to repurchase from you and recommend your brand/you as a seller. And a negative experience can also lead to negative feedback in the form of a bad review… which can tank your listing’s ranking in Amazon’s search results.
#10 Keep inventory in stock
This might seem like a no-brainer, but if you run out of a certain item often, it may spell trouble for you as a seller. Because first off, people who want the item are unable to purchase it and will have to wait, and secondly, being out of stock can drive down your item’s listing rank in Amazon’s A10 algorithm.
Check in with suppliers or your manufacturing team regularly to ensure production/sales forecasts and supply levels are at acceptable levels to ensure stable inventory.
With these 10 ways to start Amazon business and succeed as a seller in 2022 in mind, we hope whether you’re just in the planning stages (or halfway through coming up with right items to sell), that these tips give you a bit of guidance in your journey as an Amazon seller. Best of luck to you!