ACTIONABLE STEPS TO MAKE MONEY ON AMAZON FOR BEGINNERSposted on 9/Mon/03/2020 13:28
Amazon is the biggest online marketplace on the internet, and this makes thousands of people shop on it daily. It is no wonder it has grown both in popularity and revenue. You can shop for almost anything on Amazon, from the smallest of things like a toothbrush to large stuff like RVs.
Many people believe that the Amazon platform takes money from their pocket, but did you know Amazon can make you money? Not just little money, but thousands of dollars.
There are people today who make a living off Amazon. And in this guide, you are going to find out how a lot of entrepreneurs have made thousands of dollars from it, and how you can possibly learn how to make money on amazon.
Make Money with Amazon Affiliate Marketing.
One of the ways to make money with Amazon is by signing up for their affiliate program. So, if you don’t know, Amazon has a program called “Amazon Associates”. This program lets anyone sign up and promote products on the Amazon marketplace.
Once you are able to sign up successfully and bring sales to Amazon, you receive a commission for referring a sale to Amazon.
This commission differs from categories to categories. If you are promoting a product in the Home and Garden department, you will not receive the same commission as someone that is promoting a product in the Fashion category.
If affiliate marketing as a business is new to you, read on for a quick tun through to on how to make money with amazon using this business model.
What is Affiliate marketing?
Affiliate marketing is a kind of marketing that allows you to promote someone else’s product or services and receive a commission based on an agreement. As an affiliate marketer, you serve as the middleman.
You basically connect the owner of a product or service to a customer looking for the product or service. This is not a new business model as it has been in existence for a very long time. Many big companies are already scaling their revenues by running affiliate programs.
There are many approaches to running the program, but one of the most common ways is getting a tracking link from the program you are promoting and getting people to purchase through your unique link.
How does Amazon Affiliate Marketing Work?
The Amazon affiliate program is pretty much like every other affiliate programs. You get a unique link or a customizable HTML embed code from your affiliate dashboard then get buyers through your unique link.
To sign up for the program is very easy. You can follow these steps to get started:
- Visit the Amazon official website.
- Scroll to the end of the Amazon’s website page
- Join the affiliate program by filling out your correct information as needed.
- Once your application is reviewed and accepted, login to your affiliate dashboard and start promoting your unique links
From the affiliate dashboard, you are able to search for any item you would like to promote. Once you have found the perfect product, you can get a unique link for it. Now, once you get someone to buy through that link, you get a commission.
Now it is not as easy as you read it. This brings us to the next point.
How to promote your amazon affiliate products and make money.
Now that you have your amazon affiliate program all set up, it is time to get to work and get people to buy through your link. Although it might sound easy to do, it isn’t. Even if you have the perfect product with the right commission to promote, getting people to buy through you can prove to be laborious.
Except you already have a following and a brand, it will be very difficult to make sales. And even if you have a following, you can never be sure if they will be interested in buying the product you are promoting.
So, you need to learn how to build a following of people who will be interested in buying the product you have chosen to promote.
Here are three ways to promote your Amazon affiliate products:
Create a blog
This is one of the most popular way affiliate marketers use to get people to buy their affiliate products. You can create a blog and create content around your target audience.
For instance, if you are promoting a particular type of generator, you should create content around what people that are likely to buy a generator will read. You can start bu dishing out tips on selecting the perfect generator. You can also answer the common questions that your target audience have.
There are a ton of unanswered question about generators on the internet. Look for these questions and answer them. A great way to look for these types of questions is to use a tool like AnswerThePublic .
Simply type in a broad keyword and watch the tool pop up different questions
Once you are able people’s questions, this will get people interested in your content and blog. With time you will grow a following. After building up a following your following through your blog, you can then start out to promote your Amazon affiliate products
Create A YouTube Channel
Another approach to promote your affiliate products is by creating a YouTube channel. It is very likely that you have come across YouTube channel owners asking you to buy an item through their link, What they are doing is trying to sell you their affiliate link for commissions.
If you are not camera-shy, you can also start a YouTube channel and create topics based on what you are trying to promote. You can easily ask people to buy through your links. A lot of people are going to buy through your link if you create helpful content.
Write a Product Review
It is very common for people to search for a review of a product they have plans to buy. We all do it. This is because we all want to know if spending money on a product will be worth it or if we will be getting a supposed benefit from the intended product.
To make sales for your affiliate products, you can position yourself as a product reviewer and give helpful insights about the product you are promoting. The downside of this is that you need to have used the product that you are reviewing.
If you have not used a product before, you probably should not write or make a review about it. The reason is that a lot of people can figure it out if you are not giving a genuine review, especially through videos.
Buying a product you don’t need just to make a review is not worth it. Also, making a review of a product you don’t own is a no-go. So what is the way around it, you ask? Well, for starters, a more reasonable way to overcome this is to make reviews about products that you already own, especially those you bought from Amazon.
Think about it for a minute, when you review a product that you already own, chances are you have used the product a number of times. This will make the item very easy for you to review. You already know the pros and cons of using the product, so you probably could tell another person about how awesome the product has been.
Write an eBook - Start Amazon Kindle Publishing
It is very likely that you have heard about eBook writing, publishing and eBook marketing. Did you know you could write eBooks and make money from your writing by selling your books on Amazon?
This section will show you how to make money by writing eBooks, and publish them on Amazon for profits. You will also learn how to make money from this system even if you don’t know how to write.
Everyone at some point has thought about publishing or at least, writing a Book. Writing a book gives a sense of accomplishment to an extent. Keeping accomplishment aside, people are making lots of money by selling their eBooks on Amazon.
To sell your books, you need a following or a brand. The truth is It can be very difficult to create a following to sell your books. Not everyone has the time to create a blog or make a YouTube channel to amass a following. This is where the Amazon Kindle Publishing comes in.
What is Amazon Kindle and how does Amazon Kindle Publishing work?
It is essential to know how Amazon Kindle works before you can think about how to make money from the platform. The Amazon Kindle is a marketplace that allows Amazon users to read books about topics they are interested in.
When Amazon users have a kindle, they are able to browse through collections of eBooks made available by Amazon with their readers. Once they find a book that they like, they simply purchase the eBook and start reading.
They don’t need an internet connection or their computer to do this.
So back to how you can make money with Amazon Kindle Publishing. Since Amazon has created the platform for you, It is now time to write an eBook and put it in front of kindle users.
To make money, you need to write on topics that you are very knowledgeable about. People are constantly keen on adding to their pool of knowledge. You can be at the end of things putting what you know into an eBook and selling them to readers.
How to write an eBook even if you have not written a letter
As much as everyone wants to be a self-publisher, not everyone is able to write a book. Some are able to write but don’t have the time. Some have the time but just don't know how to write. This does not have to end your dream of earning with Amazon as a publisher.
To get around this, what you can do is hire freelance writers that can get the job done. There are many freelance expert writers who are knowledgeable about a specific topic.
You can pay them to write you are full eBook, format it and even design it. Sure, you will spend some money to get all this done, but think about the profit you will make once your book starts selling on Amazon Kindle.
How to promote your Kindle books to make sales
Now that you have figured out a way to write your book, you can now sit down, relax and print money right? WRONG!
Don’t get it wrong, it is very possible to make sales immediately when you publish your books on Kindle. But why wait for sales to come in when you can go kick start a few sales from your marketing efforts.
Remember once your book is published, people are going to leave reviews and these reviews will only come after you have made some sales. If you have done a great job, you are going to make consistent sales once the reviews start rolling in.
So, instead of waiting for the sales to come, here are few ways to start making sales for your books:
How to kick-start your sales on kindle publishing
With Facebook Ads, you can target people that are likely to make a purchase when they find your eBook. For example, if you write a book about “weight loss”, you can start your campaign by targeting people on Facebook based on their interests.
For a weight loss eBook, an ideal audience to target will be those interested in Exercises, Healthy Eating, and you can also target based on what people have liked, maybe a specific magazine or a Facebook page.
Research your audience and find out where they hang out, then base your targeting off of that.
With Facebook ads, it is possible to make a few sales, don’t expect anything magical, especially if you have an expensive book. Anything above $20 will be an overkill. The reason is that no one will buy an eBook from someone that they do not know.
The most successful eBook sellers and best sellers on Amazon already have a brand or a huge following before they are able to make bestsellers.
Make Money Through Amazon FBA
Amazon FBA is another way to make money using Amazon.Amazon FBA is a term coined from Fulfillment By Amazon. This business model is not new and Amazon has been running it for a very long time. Did you know you can make money selling on Amazon?
FBA by Amazon has made many millionaires and created a source of income for many. Just as many have made millions with it, many have also lost money trying to go into Amazon FBA. This is why you need to do proper research and make a plan before starting out.
How does Amazon FBA work?
Amazon FBA is a program created by Amazon that allows users to earn money on Amazon by selling items directly on the Amazon platform. How it works is, you sign up for the FBA program as a seller and start selling your items.
You will be required to ship the products you sell to an Amazon warehouse close to you. Amazon takes care of fulfilling your orders to your customers. Some FBA sellers opt to ship items on their own to avoid the charges levied by Amazon.
Four helpful tips to make Amazon FBA work for you.
When starting out a business, it is very difficult to tell if it is going to be successful. You never know. The best you could do is to try to minimize the risk of the business by identifying what needs to be done and what does not.
These tips will help you start your how to make money selling on Amazon successfully:
- Start Small: This goes without saying. Just like every other business, when you start with a humble beginning, you have a very huge chance of controlling the risk of a business.
As a beginner running the Amazon FBA program, you can start out by selling small items that are inexpensive. People buy these kinds of products and you get to spend less stocking your product inventory.
- Don’t rely on Amazon Reports : When you start out, it is pretty normal to turn to a “report addict” even though this will be dependent on how fast your products are selling.
Amazon will give you some reports about your FBA store, but you should develop your own reports. Create your own excel sheet for each store or product you have on Amazon.
- Avoid low-cost inventory: As much as you need to start small with your Amazon FBA business, you need to identify the perfect balance. Selling items under the $5-$10 mark is not a good idea.
You want to go for items that are slightly above that dollar range. $20 is often the sweet spot for most people.
The reason is that, since Amazon will be charging you per product sold and shipping with some underlying costs, selling an item in the $5 range will leave you with nothing to go home with.
Even when you are getting a product for free, it is still going to be difficult to realize good profits.
- Don’t join the race to the bottom: This is very typical of every business out there, joining the race to a price crash to win over customers. According to Seth Godin, one of the renowned business visionaries.
He said businesses are always bringing down their prices to keep their new and old customers. When this is done consistently, prices will crash and most businesses will need to pitch volume to make their businesses relevant.
You are going to see this happen quite often as an FBA seller. Sellers will crash their prices to stay above their competitors. Their competitors will also crash their prices, and this loop continues. The end result is that nobody wins.
Other ways to start making money on Amazon
Amazon Dropshipping is another way you can use to earn. Dropshipping is for those that don’t want to be directly involved with the FBA program offered by Amazon. If you want to use the power of Amazon to sell your items while you take care of the other parts like shipping and packing, then Amazon dropshipping is for you.
It is a popular option for sellers who want to bypass the many Amazon fees that comes with running the FBA program. Since you will be directly involved in shipping your items yourself, this option can be time-intensive.
Amazon Retail Arbitrage
Retail arbitrage is a business model that has withstood the hands of time. With Amazon retail arbitrage, you find a loophole in the market and fill the hole by getting products for cheap and reselling them on Amazon.
You can buy items from your local store cheaply and list them on Amazon. People shopping on Amazon are not always price-conscious, plus Amazon does a great job of marketing products. So if done right, you can expect to sell pretty fast, especially if you have a product with high demand.
Wrapping it up
So that is pretty much it. By now, you should be able to pick the business model that you can go for and earn with amazon. Amazon has been there for a while and it definitely doesn’t look like it will be gone.
This means making money on Amazon is possible as long as Amazon, as a business is around
How do I know which business model to pick to make money on Amazon?
Admittedly it can be overwhelming to pick the right business model when trying to make money. The right way of picking the best one for you is to more research on how you want to make money with Amazon.
With enough research, you should be able to pick the one that fits your budget, easy to start for you and pick the one with minimal risk.
Can I start an Amazon business for free?
Many businesses need you to have money to invest to make profits. If you are going for options like Amazon FBA or Retail Arbitrage, you will need a good amount of money to start.
Other options like Kindle Publishing and Affiliate marketing requires very little to no cost to start, this depends on the approach you take.