5- HOW TO SELL ON AMAZON:

Amazon being a lucrative ecommerce marketplace for entrepreneurs encompasses its own challenges and complexities. Here we will cover how to sell on Amazon. We will also discuss business models and Amazon services.

1- Seller Account:

To sell on Amazon we need to set up a seller account first. Based on the volume of selling, we have two options available:

• Individual seller account – suitable for those selling less than 40 items per month.
• Professional seller account – suitable for those selling high volumes per month.

2- Select Business Model:

We have two business model available:

• Amazon Wholesale FBA:
• Amazon FBA is a concept where the seller only sells and Amazon takes care of your shipping. This means Amazon FBA allows sellers to store their products in Amazon’s fulfillment centers where they handle storage, packaging, and shipping. Amazon FBA extends further support by offering their sellers Amazon’s customer data, customer support, and other benefits. This results in a boost in sales for sellers.

Amazon Dropshipping:

In this model there is no inventory holding cost and the seller lists all of its products on Amazon.
So when a customer makes a purchase on Amazon, the seller buys for them from a third party supplier. Then a third party supplier will directly make shipment to the customer.
In this model selecting reliable suppliers and managing relationships with them is very important.

3- Maximizing Amazon Services:

Two kinds of Amazon services are available:
Amazon Virtual Assistant (VA)
Amazon Account Management

Amazon Virtual Assistant (VA):
Amazon VA is an online professional who manages administrative task such as:

• Seller account creation
• Product research and hunting
• Listing optimization
• Inventory management
• Order processing
• Marketing and advertising
• Customer service

Amazon Account Management:

Amazon Account Managers perform this task by doing comprehensive and detailed management of an Amazon Seller account. Their services include:

Make strategies to promote brand and increase sales

Improve product listings for better visibility and reach to the targeted audience.
Balance between demand and supply by timely forecasting to avoid future stockout.

• Advertising Amazon PPC campaigns.
• Focus on customer reviews and feedback.
• Continuous monitoring and tracking of data.

4- Listings Optimization:

Use targeted research based keywords to write SEO optimized titles and eye-catchy informative descriptions. Also use high quality visuals to improve visibility and optimize listings.

5- Fulfillment by Amazon (FBA ) and Fulfillment by Merchant (FBM):

Depending upon your business needs and requirements, sales volume and product types you can choose between Fulfillment by Amazon (FBA ) and Fulfillment by Merchant (FBM).

FBA takes control of the whole logistics part and boosts sales but it is costly. Whereas, in FBM sellar controls the whole process and shipping. Although it’s cost-effective but time-consuming.

For informed decision making, firstly understand the difference between both of them. Research their pros and cons and then select the best model that matches with your business goals

6- Marketing:

In the digital world digital marketing is the tool to grab targeted audience attention to get traffic and increase sales. Marketing techniques such as Amazon PPC etc are used to get traffic.

We can also take advantage of Amazon’s advertising tools such as sponsorship for display ads etc, to promote product listings.

Also, we can consider marketing strategies such as social media marketing etc, to increase traffic.

7- Customer Service:

Customer satisfaction should be the top most priority of every business. Timely response to inquiries, dealing with customer return and refund helps to maintain high customer satisfaction.

Customer positive feedback, reviews, and high seller ratings lead to customer return and repeat business.