Wednesday, 26 June 2019
How To Make $10,000+ Per Month With Amazon FBA
Amazon FBA (Fulfilment By Amazon) is a business opportunity provided by Amazon to encourage business-owners to list their products in its marketplace.
The model works by Amazon providing users with the ability to send their products to its warehouse, and having them "fulfilled" by the retain giant (it sends them out) upon successful purchase.
The reason why Amazon would do this is partly to get free niche products which are both unique and valuable (you own the products - they just ship them for you), and partly to make use of their massive infrastructure (which they would be paying for anyway).
It also adds to their offering as a business, as it gives them an even more diverse array of products to add to their portfolio (which is pretty much their core competitive advantage).
The important thing to consider about the "FBA" model is that it is indicative of the new "digital" business culture that seems to have become even more prevalent after the 2008 crash. Rather than keeping large amounts of stock, overheads and a large team... companies have taken to the Internet & social media to find buyers & create lean enterprises.
Gone are the days when distributors determined the fate of products. Now, new businesses, entrepreneurs and everyday people are able to create $10,000+ a month income streams without even having to own any land. All the infrastructure, marketing and fulfilment is handled by a completely independent company (Amazon) - to which you just do the work of sourcing a successful product.
To determine if you'd like to gain advantage from this method of investment, I've created this tutorial to explain the process of utilizing Amazon FBA. Rather than trying to get by on scraps from a local market, the new "digital" realm with all its promise is one of the best ways to get your foot in the door of the new world of enterprise.
How It Works
All businesses work in the same way - buy/build a product, offer the product to a market and any "profit" you're able to make can either be used to live off, or reinvest into more/better products.
The problem for most people is two-fold: 1) they have no product 2) they have no access to a market.
Whilst both are legitimate problems - which would have been a significant drawback in a time without the "digital" medium - times have moved on to the point that barriers-to-entry are so low that you only really need to be able to invest several $1,000 to have the opportunity of selling to a global audience.
And despite the fact that the "Amazon" opportunity has existed for almost 10 years now (anyone can list products in its marketplace), the "FBA" model (which is truly hands-off) has only started to become popular in the past 24 months-or-so.
If you didn't go to business school, to briefly explain how to run a "successful" business, you basically need to be able provide a product/service to a large audience. You'd typically aim for around 30% net profit margin (after COGS & advertising costs). How you do this is up to you - the key is to buy low, sell high.
Now, just because the "digital" realm is large doesn't mean it's devoid of the way in which "markets" typically work. Competition is obviously a major force, as is the idea that because something is "easy", it can be replicated relatively simply by others (leading to an erosion of your profits).
Selling on Amazon typically works by providing access to products which people either don't have access to locally, or are able to obtain locally but with major restrictions (such as color/size issues), or with problems in reliability of supply. In other words, whilst the Amazon marketplace is vast - don't think you can outwit supply/demand.
The real trick with "digital" businesses is to provide access to unique products (typically made by yourself or your company) which are only available through you. These products have to be focused on providing a solution that most people have no idea about, and thus makes the proposition of buying it through the Internet legitimate.
Obviously, creating a "unique" product is 1,000x easier said-than-done - the trick with it is to work on solutions to your own problems. Work towards sharpening a skillset, which you're able to apply to a wider audience, from which you'll be able to identify "products" which can be created and offered as a means to simplify/solve problems you've experienced yourself.
Steps
To begin selling on Amazon, there are several steps to take:
- Sign Up For Amazon Seller Account The first step is to get a "seller" account from Amazon. There are two types of seller account - "individual" and "professional". Individual is free and allows you to "list" items which already exist in the Amazon catalogue. You pay a small fee each time a product is sold. Professional costs $40/mo, and has no extra "per sale" fees (although other fees such as a stocking fee etc may apply). This is the only account which allows you to list new items in Amazon's catalogue.
- Sign Up For GS1 This gives you the ability to *create* barcodes. They come in two formats - UPC (Universal Product Code) and EAN (European Article Number). Whilst these can be bought relatively cheaply ($10), Amazon, Google and eBay strongly recommend using GS1 for standardization. By using GS1, you're able to have your products recognized by the likes of Amazon. The downside is the cost, but it shouldn't really matter - we always recommend setting aside ~$500 for admin costs, of which this would definitely be one.
- Create A Legal Company (Optional) If you're looking to set up a real FBA operation, you'll need a legal business (and bank account). Apart from giving Amazon the ability to open a business account, it allows you to better manage taxes (which are notoriously bad for investing your own money in a personal capacity). This is very easy to setup, but is only necessary if you want to actually deal with Amazon on an FBA basis only. If you want to just sell products on the system, you're welcome to do it under your own name.
- Buy/Build Boxed Products You then need to get a set of boxed versions of the product. If you make the product yourself, you need to get them into standardized boxes. Because thre are so many ways to do this, we'll just say that you should look for a boxing/printing company to handle it for you. There are many capable ones. You must also follow Amazon's guidelines on what types of packaging they accept.
- Send The Products To Amazon Once you have the boxed products, you need to send them to Amazon. This is arranged through the Amazon seller system, allowing you to pick a time when the products should receive at the Amazon warehouse. Again, due to the level of variation in the process, it's best to say that you should follow the Amazon guidelines in order to do this.
- Start Selling This is the hardest part, which is explained below.
Selling The Products
The last step is to get the products sold. This is the hardest as you're almost entirely at the whim of the market (both Amazon's and any other market you may bring to the platform).
The trick to getting products bought from Amazon is effective marketing.
Marketing comes down to several points - the most notable being that you need to be able to firstly attract the attention of potential buyers and then build demand - giving them the opportunity to buy your product as a means to satisfy that demand.
Whilst there are many ways to do this, you must remember that if you're going to do it effectively, you need to be able to go out and market the product independently of whether it's going to be popular on Amazon. The less you need Amazon, the more likely it will be that you'll actually get people buying through the channel.
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Finally, we must also point out that any sales you make must NOT be counted as pure profit.
Your profit ONLY comes after your other costs have been accounted for (such as the actual products themselves, boxes and marketing). It is a rookie mistake to think that the money you receive from Amazon will actually be your "take home" profit - it's not.
You need to accumulate your initial principle from the gross revenue and then decide what to do with any profits made (as mentioned - this comes in the form of either paying yourself, or putting back into better/more products).
Article Source: https://EzineArticles.com/expert/Richard_Peck/2344303
Article Source: http://EzineArticles.com/9870346
Tuesday, 25 June 2019
Amazon FBA Tutorial
Amazon "FBA" (Fulfillment by Amazon) is a service offered by Amazon, whereby you are able to stock your own products in Amazon's warehouse network.
The reason you'd want to do this is predominantly due to the way in which you're able to make a significant amount of money by being associated with Amazon - having their audience & social clout behind your brand.
Whilst you don't need to be part of the FBA program to sell products on the Amazon platform, it's quickly been identified as the most efficient and scalable way to achieve profit through a digital business which actually doesn't need a huge amount of overhead to get started.
This article is going to examine the way in which you are able to take advantage of the "FBA" program - as well as "Amazon" generally - to make significant profits by selling products to consumers and businesses alike.
How To "Make Money" With It
The art of making money comes down to a simple process - earn more than you spend. This is as true for business as it is in the "personal" realm.
The problem for most people is they end up spending more than they earn; or end up with all sorts of other issues which not only detracts from their focus, but ends up draining their resources.
Indeed, one of the biggest problems facing small business owners has actually been what's known as "barrier to entry" - which is basically how much resources are required to take advantage of an opportunity.
For example, to create effective software, you generally need at least 10 years of prior experience, with a particular expertise developing out of it.
On top of this, you also need market demand and the ability to provide a valuable product regardless of the various market conditions existing at the time.
Amazon - and retail in general - needs none of this. You only need a product which fulfills market demand, allowing users to find it and purchase as required. Whilst you could do this with your own e-commerce outlet, the weight of Amazon's brand & its associated trust is by far more important in helping secure the effective means by which you're able to attract real buyers.
Is FBA Really Necessary?
Ultimately, FBA is only a "method" through which you're able to stock products on Amazon & have them take care of all the delivery.
Most people don't need to use the "FBA" route; they can just sell their own products and ship them from their home/office. You can still do this without actually sending packages to Amazon to send out on your behalf.
The most important thing I would recommend is the "FBA" stuff is mainly focused on the way in which a product owner is able to basically delegate all of the packing/shipping of a product to Amazon - allowing them to focus on getting it marketed/promoted.
Article Source: https://EzineArticles.com/expert/Richard_Peck/2344303
Article Source: http://EzineArticles.com/9870454
Monday, 24 June 2019
How To Write Amazon Product Listing Descriptions
Amazon FBA, and generally selling products on the Amazon platform, has quickly become a goldmine for a number of vendors - who both got in early and managed to cultivate an audience who wanted what they were offering.
To do this properly, you have to be able to consider exactly what you're doing regarding the sale of products, and how they're showcased.
Apart from appealing photos, the description is the main way people are able to gain an insight into what the product does, how it works - and how it's different to other competing ones.
This tutorial aims to highlight how you're able to manage the most effective Amazon product listing descriptions...
Structure
Amazon product listings adhere to the same structure:
- Title
- Images
- Features (Bullet Points)
- Description (incl HTML)
If you want to create an effective listing, the trick is to be clear, concise and thorough.
The best generally have clear, high definition images, coupled with informative & compelling bullet points (which are focused on benefits) and a keyword-rich title.
The real killer the "copy" used throughout the listing. Both in the bullet-points and the full description, being able to convey the benefits of the product whilst ensuring the reader is compelled to buying your particular product is a fine line.
Due to the nature of this copy, a number of copywriting experts have been making serious money providing "Amazon Product Listing" copywriting services. The premise is they will help people make more money by writing more lucid copy.
How To Do It Yourself
As mentioned, the above structure is pretty-much what determines whether a product will be accepted by Amazon.
The most important thing to do is understand what "triggers" buyers to trust your product.
When selling products, it's far better to deal with emotion than logic...
- Logically, you may think the product can be listed and people will pick it, evaluate it based on its features and make a purchase.
- Emotionally, people choose products by the company they feel will deliver an experience as close to their aspirations as possible.
To this end, the following explains how each of the elements of the description work:
Title
The most important thing to ensure with a product's title is that it's as descriptive as possible.
Obviously - some products (such as books) don't need overly descriptive titles. However, the majority of categories do require the most descriptive title possible.
Consider the following examples:
- AYL Silicon Cooking Gloves - Heat Resistant Oven Mitt For Grilling, BBQ, Kitchen - Safe Handling of Pots and Pans - Cooking & Baking Non-Slip Potholders - Internal Protective Cotton Layer
- AYL Silicon Cooking Gloves (Green) - Heat Resistant Oven Mitt + Internal Cotton Layer
The reason for this is actually very simple - people trust the more descriptive nature of it.
In a wash of 100's of similar products, people want quality, value and assurity that the company behind the product is actually going to be legitimate. Having a descriptive, inclusive title as the top one is one of the best ways to do it.
Images
Images are necessary for getting products noticed.
The keys with images are as follows:
- Clarity is *everything* - don't worry about any background or whatever - people want to see the quality of the product and expect 4k+ imagery to show it
- Only show what's required - software products don't "need" a box but they'll obviously add to the perception of its quality -- people primarily need to see screenshots
- Make sure the images represent *exactly* what the buyer is getting - don't use any tricks/hacks to make the product look better than what it is - just show people the product & accessories which may come with it
Alternatively, there are companies on the likes of Fiverr who'll be able to set up a good shot as well.
The point is that as long as you have ~5 really good images, this should be okay.
Features (Bullet Points)
This is where things start to get important.
The features (bullet points) are meant to describe the specifications of the product; they're now mostly used to provide users with information about the product (copy).
Regardless of what you write there, there are several factors to consider:
- Wrap features inside benefits - Rather than saying "15cm long", say "3 HANDY SIZES - 5cm, 10cm & 15cm"
- Include ALL 5 bullets - might be tempting to only use 3 - use all of the 5 and talk about the company & "guarantee" for the last one
- Lead with "CAPITALIZED" benefits - buyers want to know what the product is going to for them, and then why - you do this with "CAPITALIZED TITLES - followed by an explanation of each point"
- Don't be afraid to use several sentences for each bullet - some products just need the features listed; if you need extra edge, add copy
- Focus on the product (not the buyer) - beginners make the mistake of leading with buyer-centric benefits (because they read it in some copywriting forum) - this is bad. People are on Amazon to buy products, not learn about how an oven glove will make them look younger etc.
The way you do that is to make as much use of the available content area as possible.
Description
Finally, the description is the bulk of content below all the specifications laid out "above the fold".
Depending on the type of product, and whether you have a new brand or established company, the "description" area can be a number of different things.
It's best to consider it similar to a product listing page on eBay - showcasing exactly what's for sale. Minus images, a similar state of affairs exists (you can use limited amounts of HTML in it).
The most important thing to realize is that you're not restricted to just bullet-points (as you are with the product features) - this not only gives a little more creative freedom. Obviously, this means that you need to ensure you're making the right choices...
- Lead with the SINGLE reason why people would buy YOUR product over a competitor's - marketing / sales 101 but it's so easy to forget it. There's always a SINGLE reason why people buy a particular product (it can be the quality, design or how it works)
- Lead with a headline, use a small bit of blurb to describe the product and then use several bullet points to describe what the buyer is going to get - you only get ~300 words so don't go overboard
- Pick an emotive angle - The best product are sold through emotion - use copy that evokes ideas of how the product will fit into someone's life
- Use HTML sparingly - bold text is nice, but not the defining factor of your product - don't go overboard with the stylization (it should compliment the copy, not define it)
If you're brand new to the Amazon game, you need to be remember that nothing will replace having an effective product.
How you display said product is also extremely important, as are reviews.
To get a better insight, there are several really good resources:
- levinewman on Fiverr (also search for "Embrava" on Amazon for examples of his work)
- splitly - "The Utiltimate Amazon Product Description Template" (VERY good information)
Article Source: https://EzineArticles.com/expert/Richard_Peck/2344303
Article Source: http://EzineArticles.com/9967808
Sunday, 23 June 2019
How To Use The Amazon FBA Platform For Your Multichannel Orders
Amazon.com is the largest online marketplace, and the platform keeps growing. It offers amazing possibilities for online retail businesses to market products to countless consumers. If you are selling on Amazon.com, you are certainly going the best way. But if you are only offering on Amazon, you may be losing out on more product sales. It might appear like a challenging task to broaden to more systems, but since you are already selling on Amazon.com, it will be easy to use other platforms to boost your sales like the Amazon FBA platform.
Amazon.com provides a Multiple Channel Fulfillment (MCF) option that will help you expand to more sales platforms with hardly any added costs.
What Is Amazon Multi Channel Fulfillment?
The FBA support from Amazon meets your Amazon orders, as the MCF choice fulfills purchases from all other systems. You are able to delegate most fulfillment to Amazon. Whether you sell items on auction websites, Shopify, any another platform, Amazon will choose and channel products to your clients. You simply need to pay for shipping and handling.
Multi Funnel Fulfillment enables you to choose regular, two-day, or next-day delivery, and it computes shipping and delivery costs depending on the size of the item combined with the chosen shipping approach.
If you would like to use Amazon.com MCF, there are a few requirements you need to think about. First, you have to be authorized for FBA, and that means you possess credit cards on record with Amazon. Those cards will certainly be charged for fulfillment costs, except if your seller account has a positive balance after that MCF fees will be subtracted from your stability.
You should also have a professional seller account with Amazon to use MCF which usually costs $39. 99 each month, however, you don't pay for product list charges.
- Take advantage of Amazon's MCF with These guidelines
- Make use of Messaging on Packing Slips
- Change Prices Depending on the Platform
- Set Aside Some Profits
Selling upon multiple systems ensures that your products are noticed by a bigger audience. Amazon FBA platform makes it be fast and easy to do it. Now that you know just how it works and knows some of the best tricks, why don't you get the Amazon FBA complete guide and start selling!
Article Source: https://EzineArticles.com/expert/Bethy_K_Damaris/1959013
Article Source: http://EzineArticles.com/9921758
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