How To Crush Amazon FBA!
How To Crush Amazon FBA!
Amazon FBA doesn’t have to be complicated and you shouldn’t make it.
I’ve seen countless numbers of sellers come and go since I’ve started
my journey and I now want to share a few gems on a number of things
which have helped me stay consistent in an ever changing Amazon FBA
landscape.
Selling products online as I’m sure you’re aware is a great way to make
money. Within the E-Commerce world, Amazon is the big boy. The
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Amazon Marketplace is huge and millions and millions of people are
browsing and shopping on it every day. There has been a growing shift
towards online shopping, particularly with the recent COVID-19
Pandemic, and Amazon is leading the way. FBA is a great way to create
your own seat at the E-commerce table.
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As you can see these are some powerful statistics. By leveraging the
power of Amazon’s reputation and using the FBA service, you can build
a successful profitable business.
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5. Step Five - Amazon provides customer service in the local
language and handles all returns. All refunds and return requests
are dealt with by Amazon - you will have zero stress.
6. Amazon FBA saves a lot of time as it takes the logistics side of
things off your hands. All you need to do is source the product
and get it sent to Amazon, which is super easy. This gives you
more time to source amazing products with large profit margins.
7. FBA also offers the use of Amazon’s advanced business analytics,
tools, and services which allow you to dive down into the metrics
behind your customers. You can then do things such as identify
where your best customers are, introduce vouchers for bulk
buying or repeat customers, run promotions, etc.
8. You can even use FBA to sell from different channels or your own
website through linkages and integrations
9. It really is that simple. As long as you are willing to put the time
and effort into creating and scaling your business, you can make
tens or hundreds of thousands of £/$ per year selling on Amazon,
even if you are a brand new seller!
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1. Retail Arbitrage - Sourcing items from retail shops and selling
them for a higher price online. This typically involves sourcing
products that are on discount or clearance.
2. Online Arbitrage - Similar to Retail Arbitrage. However, this
involves sourcing products online as opposed to physically in
retail stores.
3. Wholesale - Buying product lines in bulk, taking advantage of
economies of scale and bulk discount when sourcing products
4. Private Label - Putting your stamp on generic products sourced
via a Manufacturer and selling them under your own personal
Brand name.
Retail Arbitrage
Know Your Figures
A few tips:
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3. Invest in software like BuyBot Pro to speed up your arbitrage
process
When you start out in Retail Arbitrage you might find yourself running
around like a headless chicken.
Plan a route and know exactly where you will be stopping off on your
journey.
Some tips:
They are a strong competitor, and they have much better margins than
you or I.
For that instance I would strongly think twice about jumping onto a
listing that Amazon is occupying. If you can - avoid it!
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Unless of course the profits are insane.
Wholesale
Do your Research!
Make sure you choose a product that is not already being sold by
Amazon itself or is a unique private label product sold by a single seller.
This might seem basic, but it’s often overlooked due to the excitement
of discovering a hot selling product.
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Find the Right Supplier!
Once you have researched potential products, you should then look
into sourcing the item – so you need a supplier. This is the time to go
directly to the brand owner or manufacturer.
Remember that you are offering to help them increase their sales, so
demonstrate how you can add value to their brand, particularly as they
may not have a presence on Amazon – this is something you can help
them with. If you specifically look for brands that aren’t already selling
on Amazon or have difficulties in making sales on Amazon, you can
solve their problem.
Don’t be disheartened if the first supplier you speak with gives you a
firm ‘no’. Negotiating is a skill, and it can take a lot of to-ing and fro-ing
to settle on a price or even to get a good deal. The more you practice
negotiating, the better at it you will become. The best advice: do it with
confidence!
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Trade shows allow you to learn more about the brands you wish to
market and easily connect with many important people inside these
companies. You will have a lot of face-to-face conversations with
company owners while also looking for new products that will sell well
on Amazon. You will also read a lot about what these businesses care
about, their previous encounters selling on Amazon, some pressure
points, and what you can add to the table as a third-party seller. So,
trade shows play a significant role when it comes to Amazon Wholesale.
Go directly to source
The best wholesale relationships come about when you are sourcing
directly from the manufacturer. Find a couple of decent lines and just
rinse and repeat.
Do this over and over and you will have a unique wholesaling business.
Don’t be afraid to reach out to brands and companies, tell them what
you could offer and pitch your services.
Private Label
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Product Research is Key!
It might sound cliche or have been beaten to death, but I cannot stress
enough how important it is to do thorough product research. How deep
you go down the rabbit hole will really set you apart when it comes to
your Private Label business.
One of the main ways you can ensure that you’re crushing product
research is by using high quality software - it will make your life easier.
Helium 10 Link
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1. Avoid saturated products
2. Look for high demand, low competition niches
3. Ensure that you test at a minimum the top 5 most relevant
keywords for that niche/product
4. Think outside the box, how could you differentiate/add value
5. Think about how you could create a more premium product
Getting your launch right is crucial, and here are a few things you can
do to ensure that you’re giving your product the best chance of success:
Reviews Matter
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Everyone starts from square one when it comes to creating a brand
new product on Amazon. You’re going to have ZERO reviews.
Scale Quickly
Once you’ve found your groove and your products are selling well, you
will want to expand. Test out new variations and look at adding another
product or two to your offering.
The best Private Label sellers have a number of different SKUs and
ASINs, and this is the way to go if you want to expand your offering and
become a power seller.
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Conclusion
So there you have it, these are some of my tips and tricks across all of
the different ways to kick start your Amazon FBA business and really
crush it! If you wish to learn more, check out some of my content below.
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Want to Learn More?
Thanks for reading my actionable Amazon FBA tips and tricks, I hope it
was helpful!
If you want to learn more about the Amazon FBA Business further
check out my other products / services (A Special discount has been
applied to my INTERNET INCOME bundle).
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