8 Important Tips On How To Be Successful With Amazon FBA

The Amazon Fulfillment by Amazon (FBA) program is one of the most lucrative ways to sell products online. Thousands of people and companies are signing up for FBA every day, and it is estimated that over 1 million sellers are already using FBA. If you are considering signing up to use FBA, there are some tips and tricks you should know before you get started. Here are the top eight tips for success with this very popular program:

1.Build a Strategic Business Plan

For you to fire up an Amazon FBA store, you need to create a strategic plan to make sure that everything is in place. Your business plan must include your company mission, goals, industry analysis, services, market products, advertising, marketing, and of course, your finances. 

According to Akemi Sue Fisher, known Amazon & Ecommerce Queen – You have to understand a lot of things. That’s why you need to research your market, study the trends, know your competition, and figure out sellable products. Plan what types of merchandise you want to sell and how much are you willing to spend on product sourcing, promotion, and marketing. Set up a calendar for your business schedule and other relevant business works.

2. Discover Your Niche

In Amazon FBA, you must discover a profitable niche since it signifies your success. Market research, adapting to the latest trends along with competitive quality products that align to your interest and passion are just some of the essentials for a profitable business.

Understand consumer buying trends and their practical value, emotional impact, recognition, and visibility. Look for the selling point or, better yet, make your own trendy selling style to make your products viral on the market. If you plan on taking advantage of the Amazon FBA program, we strongly recommend that you don’t involve seasonal, fragile, and perishable products.

3. Starting Market Research

After you identify your business niche, you must verify if it’s profitable with the help of market research. Keep an eye on your competitor’s sales for some time. Checking on your competitors will bring you a more realistic picture of the industry, segment, and niche.

Another critical factor is to maximize communication. Talk with customers and other suppliers to understand their sentiments and what they feel about a particular product. Using a survey is a good idea. Once you confirm that the sales data is consistent or rising in the market, you can move forward on your next step. Once you prove stability in the market, you can start big with your products.

4. Look for Reliable Product Suppliers

At this point, you are pretty much sure about your niche and product. The next thing to do is look for reliable suppliers. You want to team up with suppliers who produce quality products at reasonable prices. Check B2B platforms like Alibaba, AliExpress, or do a Google search to find contacts with suppliers nearby. Don’t forget to make a thorough background check and try engaging with suppliers at trade shows. It will be a perfect way for you to talk with the supplier and know more about their products. 

You may also want to visit nearby suppliers based on industry distribution. Reach out to them through phone calls and email and make sure to avoid scammers at all costs. If the price is too good to be true and they ask for upfront fees, it’s most likely a scam or trashy product.

Most legitimate suppliers will provide a sample product to inspect yourself or work with a professional product quality inspector.

Lastly, figure out their payment terms and options if it is viable. Ask for a quote, minimum order quantity, order limit, and shipping charges. These things will help you narrow down your choices based on important requirements.

5. Creating Your Product Listing

You need to make a product listing for you to add your selling items on the Amazon platform. This will determine how you will present your products to your customer. You should upload a clear “high-resolution” image without any copyright issues. Get your products to be “Prime Eligible” to be included in the free shipping promotions for Amazon Prime members. If you are working with a few products, you can create the listing manually. However, if you have lots of merchandise, you can use a spreadsheet that lists all of your items. Try to include as many details about your product and make it look good.

6. Managing your Inventory

Amazon sellers who are enrolled with the FBA program need to pay more attention to their inventory. Keeping your inventory level at par is very important. Replenish your inventory timely if you notice that you are about to go out of stock. It’s necessary for you to know that you still have enough products to sell in inventory. You don’t want to lose potential customers just because you forgot to check your item inventory.

Since your inventory level automatically decreases on Amazon when orders are placed, ensure your inventory level is updated continuously. This will show your product availability on your listing page. You can consider an advanced system to integrate both your inventory and sales data. If you notice that a particular product is going out of stock, work out your marketing plan, and process new orders from your supplier to replenish your inventory level.

7. Stay Ahead Of Your Customer Reviews

It’s imperative to know that potential buyers will read feedback left by other customers who have purchased it before. That’s why every online seller must take care of their customer reviews and ratings. The Amazon customer review is vital for your online store since it’s the credibility you have built on your Amazon selling journey.

Customer testimonials and product reviews are social proofs for your products and business. As a business owner, it’s crucial that you reach out to your customer and follow up on their online shopping experience so they can leave you good feedback or recommendation. You can do this in many ways. You can write an email to your customer, build a social media account, and get their insights from the platform. 

Do your best to get those positive feedbacks to help you increase your conversion and sales.

8. Optimize your product listing

In Amazon selling, SEO still plays a major role. Monitor your sales and go inside the market by understanding what are the keywords that matter. Make sure to optimize your product listing to drive more traffic and boost your sales.

Takeaway

A lot of sellers will get frustrated and give up because they don’t understand what needs to be done. The thing is – it doesn’t take a genius to do well in Amazon FBA, but it does take some effort and dedication. To learn more about how to be successful with Amazon, consult with experts in the field like Akemi Sue Fisher.  If you are willing to put in work, then you have a great shot at doing well with your Amazon FBA business.


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