Best Ways to Make Money on Amazon
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| Best Ways to Make Money on Amazon |
Uh, Amazon. It's one of the largest e-commerce websites in existence, from books to clothing to gadgets, a behemoth in almost every market you can think of. But in its range of products, the platform offers far more than just diversity. It also provides many different ways of making money, some of which you may not even know.
We'll explore eight different ways to make a profit on Amazon in this article.
Note: For aspiring entrepreneurs like you, many of these methods are already working. In order to see your first few bucks, it just needs consistency and a little work. Once you get a hold of what's working and what's not, making money on Amazon becomes easier.
Step 1. Sign Up for Amazon Handmade
Amazon Handmade allows artisans to sell online their own handcrafted goods, including clothing, accessories, and jewelry, just like Etsy.
You need to complete an application form to become an Amazon Handmade vendor, which allows you to describe the nature of your process of work and production.
Handmade is a blessing to pro and aspiring craftsmen looking to reach the large customer base of Amazon. Those approved even get a custom URL to go with their Artisan profile, making it easy to find their shop for their customers.
Plus, in order to join the program and list your products, Amazon will not charge you anything. While you will need to create a professional selling account that normally costs $39.99 a month, even for handmade sellers, that fee is waived. A 15 percent referral fee on your total sales price is the only fee you'll need to pay.
Step 2. Try Merch by Amazon
If you are good at design, through Merch by Amazon, you may be able to generate a decent income by selling T-shirts and other similar things. The website allows you to sell your works of art as Amazon goods at no cost to you.
Here's how it should be used:
- Create an account on the website Merch by Amazon
- Upload and set a price for your design
- Choose a color and type a description.
Your shirt will go live on the Amazon Marketplace once you've done all of that.
A benefit of Amazon's use of Merch is that Amazon takes responsibility for packaging, shipping, printing, and customer support.
As for the revenue, on every design sold, the company will pay you a royalty. The payout will depend on the cost and tax of the item, as well as the cost of Amazon for the services they provide.
For sweatshirts, hoodies, etc., to see current royalties,
Pro Tip: To make cash with Merch by Amazon, you don't necessarily need to be a design expert. You should be able to come up with decent artwork as long as you're following pop culture trends. You can create typography and design that looks good on a shirt using design software such as Canva and Photoshop. Additionally, Amazon's best practices on design size, design types, and product testing can be followed.
Step 3. Become an Affiliate
Becoming an affiliate is a simple way of making money on Amazon. You already have an audience if you manage a blog, website, or even moderate a community. You can earn a referral fee for your efforts by recommending interesting and high-quality items (found on Amazon) to your audience.
You can get anywhere from 4 to 10 percent of the price of the product when someone makes a purchase through your affiliate link, depending on the item. For just about anything, Amazon lets you become an affiliate. For example, if you write in-depth reviews of books, you can include referral links for titles on the Amazon marketplace in the 'Books' category.
You can even include links to products, such as slippers and blankets for getting cozy, that help improve the reading experience.
To become an Amazon affiliate, here are the three steps you'll need to follow:
You can select from millions of items to refer to your clients once you get approved. However, success will depend on your ability to produce stellar content, as well as how much value you give your subscribers and readers.
Apply here: Amazon Associates
Step 4. Earn Through KDP (Kindle Direct Publishing)
Posting your own digital books on the platform is another easy way to make money on Amazon.
On overall sales, you can get up to 70 per cent royalties. Also, through the Amazon CreateSpace service, you can print hard copies of your books.
With Amazon KDP, the only obstacle to making money is that you have to publish interesting books in large volumes. Although with a few best-sellers it is possible to earn, volume is the key to success in the publishing game.
In addition, don't forget to consider the following elements:
- Cover for books
- End Material Material
- Independent Page of Landing
To endorse your book, you also need to be mentally prepared, as there is no publisher or agent at your disposal.
Giving out free copies is the best way to promote a self-published book. Moreover, to provide exposure to the title, you can run some Facebook ads. At the end of your email, leaving a link to the Amazon page of your book can also be a smart way to promote your work to others.
Step 5. Sell Via Amazon FBA
If, without having to worry about customer support, packing, and shipping, you want to make money on Amazon, then you sign up for Amazon FBA.
You can have Amazon take care of your inventory with FBA and deliver it to your customers. Sending your items to one of Amazon's fulfillment centers is all you have to do.
The benefit of FBA is that the difference between shopping directly from Amazon and buying from an FBA seller can not be told by customers.
What goods should I sell through Amazon FBA? While it's best to sell items you're passionate about, you also want to make sure that the products you intend to sell are in sufficient demand. To get an idea of which products are high in demand, use an Amazon keyword study tool. Also, as they can help you identify what people want, take note of Amazon Best Sellers and Amazon Most Wished For lists.
You are only charged a per-unit charge as an FBA seller, which depends on the weight and size of your item. To ship your items, there is no fee for packaging, shipping, or handling. More about the current FBA fee structure can be learned here.
Other than that, since your products are being kept in Amazon's fulfillment centers, there is a storage fee that needs to be paid. Sellers who have an inventory in a fulfillment center at the end of the month are charged a monthly fee.
To see how much revenue you'll make via Amazon FBA, you can use this FBA calculator.
This technique includes visiting retail stores such as Target and Walmart to buy products at a discounted price and then reselling those products for a profit on Amazon.
The cost of importing products from a foreign country is avoided by many individuals who make money on Amazon through retail arbitrage. You will see them heading into stores directly and loading up on products that they intend to mark up and sell. As a result, many of them spend a lot of time at their local stores sifting through deals and clearance items.
Consider using the FBA Revenue Calculator to figure out what you can sell through retail arbitrage, the charges charged by Amazon, and rules for specific items. It's an app that allows your device to scan barcodes and provides useful details, such as the recommended price to charge for an item and Amazon fees.
With all that said, arbitrage in retail is not for everyone. A lot of research is involved in the process, and you will need to drive to retail locations to pick up items. If you have a vehicle at your disposal and are good at cheap items, then it could give you a decent income.
Step 7. Complete Tasks on Amazon Mechanical Turk
The Mechanical Turk program from Amazon functions as a gateway for outsourced tasks.
You can complete tasks such as content validation, content moderation, and survey participation to make money on Amazon once you become part of the Turkish Army of Remote Workers.
Mechanical Turk was essentially the by-product of Amazon's attempts to cut time-consuming tasks into smaller gigs.
While the program doesn't pay much for completed tasks, it is possible to do most of them quickly. It also provides you with the flexibility to operate at your own pace. You may get 5 cents to complete a survey, for instance, but if you complete five surveys in a minute, you will get $15 an hour.
It is worth mentioning here that Mechanical Turk, as Amazon credits payments directly into their accounts, works best for U.S. citizens.
Payments arrive in the shape of Amazon gift card credits for workers outside the U.S.
Step 8. Sell a Professional Service on Amazon
Did you know that Amazon allows qualified people to sell their services online as well?
Amazon Services can put you in touch with individuals who require your help, whether you're a guitar teacher, a math tutor, or a carpenter.
There are no monthly subscription, advertising, or start-up fees charged by the program. However, with a $1,000,000 (U.S.) cap per event, you need to have General Liability insurance. When you register for Amazon Services, this information needs to be provided.
Another important thing is that providers of services need to pay Amazon a share of the revenue. This is dependent on the nature of the service and the price of the final service. For pre-packaged and recurring services, here's what you'll need to pay for:
In a nutshell, this is one of the easiest ways to make money on Amazon, provided that as part of the application you can pass a business background check. Technicians are also required to undergo background screening for services given to homeowners.
Step 9. Create a Private Label Brand
On Amazon, this is one of the most profitable possibilities.
You order a specific item from a manufacturer as a personal label seller, put your logo and branding on it, and then list it on the Amazon marketplace.
The benefit of selling products under your own brand is that you have full control over your listings, and to protect yourself from counterfeiters, you can even apply for the Amazon Brand Registry.
Read our actionable tips for creating a private label mark on Amazon to learn more about private labeling.
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