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The Full Guide On Making Money On Amazon

by | Feb 24, 2020 | How To, Making Money | 0 comments

Table of Contents

What is Amazon?

Amazon has become a common household name for millions of people across the globe. Being the largest e-commerce company in the world, Amazon has been making a lot of progress and generating the most revenue when compared to its competitors. The largest online market place helps millions of individuals to interact and sell merchandise. Both owners of Amazon and sellers with products to sell get to earn money from the high activity the e-commerce giant gets. From statistics, Amazon can get about 200 millions unique visitors. Here are millions of individuals looking to buy from Amazon and you can sell to them. Many reviewers have considered Amazon to be the best e-commerce to make money with. It is a big opportunity for you if you are interested in joining the e-commerce sector. Take a look at the few points that offer a guide and can help you decide if Amazon is the thing for you when it comes to making money online.

Amazon Warehouse

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Advantages

High Number Of Consumers

Every person intending to make money from any market would definitely like one with enough traffic. Amazon goes above and beyond the number of potential customers. If you are selling the right product or service via Amazon, you have a high likelihood of becoming successful with the company. As compared to its competitors, Amazon receives the highest number of users anytime, hundreds of millions of prospective buyers.

Multiple Ways Of Making Money

Amazon is one of a kind site that allows people to make money in numerous ways. You could find publications that list over ten ways to make money on Amazon. You are likely to find one or several ways to make money with the e-commerce giant.

Here are some of the legit ways people have been earning money on Amazon:

  • Work for Amazon from home as part of the virtual customer service team
  • Join Amazon Mechanical Turk (MTurk), completely easy, simple tasks and get to earn some money
  • Become an Amazon affiliate, Amazon associates if you own a website or a blog with a good volume of traffic (You can make a commission if people visit Amazon via your site by clicking on affiliate links)
  • Sell creative designs with Amazon merchants (look for submit a t-shirt design)
  • Selling products using Amazon’s FBA (fulfilled by Amazon)
  • Self-Publish an eBook on Amazon
  • Find out how you can utilise Retail Arbitrage by Amazon and flip store-bought products
  • Do online arbitrage (you can buy products on eBay and sell on Amazon)

Amazon on Mobile

Always Growing Company

Right now, Amazon is a well-established company that has a lot of success. The e-commerce sector of Amazon itself has exponentially grown in the past decade and now penetrates millions of people. If you could figure out a way to work on Amazon that actually works for you, you could most definitely earn a living just by working on Amazon. Just look at the statistics of the company. There are huge developments by Amazon that are working great, the success of over a hundred billion dollars in net sales received by the company and others. You could also get a piece of that using any of the ways mentioned above.

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Disadvantages

Very Competitive

Being a big e-commerce company apparently brings advantages and disadvantages. Indeed, there are hundreds of million buyers on Amazon, but so are sellers. The success the company has received makes it an option for millions of merchants who want to sell their commodities. This then makes Amazon to be fiercely competitive. It is quite challenging for a newbie to establish a foothold on the platform due to the enormous volume of competition. Many of the sellers you will be competing with already have thousands of positive ratings and reviews. It is obvious most buyers prefer products with the highest number of reviews when they visit Amazon. You might take a while before selling, depending on the product.

Not So Good Fees

Amazon charges some fees for using some of its services like selling via FBA. While you will be selling your products on a reliable platform with a high success rate, you might not like the fees they charge you. Some people with big companies prefer to open their own online stores to sell their products and get the word out via advertising. Should your products stay long in storage, you might be charged get high storage fees if your inventory sits too long, something that can happen with new sellers.

Those who publish e-books on Amazon receive payment which is low since Amazon takes a cut as fees of between 35-70% of the listing. You probably won’t like it someone else taking that big of a percentage from your book.

Increased Returns

Buyers love the easy return process by Amazon, but it is not so useful for sellers who may end up suffering from test buys and high return rates.

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Tips to Making Money on Amazon

  • Become a buyer or an Amazon user and familiarise yourself extensively with any of several ways ones can make money on the platform. You can learn a lot about sales, competition, and reviews of products in an industry you are interested in.
  • Look for tactics and tips from other sites and YouTube on how to earn via blogging, as an Amazon sales rep, and writing e-books that will sell on Amazon Kindle Direct Publishing. There are numerous videos and sites that provide comprehensive guides on how to earn via Amazon.

Buying from Amazon

For those interested in earning via Amazon FBA consider the following tactics;

  1. Start small
  2. Build a unique brand
  3. Learn and use good SEO practices
  4. Optimise the titles of your products
  5. Have an in-depth product description
  6. Have optimised bullet points for the description of your products
  7. Use excellent photos for the products you are selling
  8. Look for the ideal repricing program
  9. Use the Amazon Marketing Services
  10. Answer questions

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How To Sign Up For Amazon Seller Account

  1. Visit https://services.amazon.co.uk/
  2. Scroll to the bottom of the page and find the Start Selling on Amazon today.”
  3. Select the kind of seller you want to be individual or professional depending on the number of products you want to sell per month
  4. Add your email and click on “Create a New Account.”
  5. Fill out your personal details and create a password
  6. Enter your business name and click on agree to Amazon’s terms of service
  7. Fill out your business information and click to verify you are not a robot
  8. Set up billing and deposit methods for your account and finish to get an Amazon Seller Account.

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To earn through the Amazon affiliate;

  1. Create a website or blog if you don’t have one already. It is better if you already have a blog or website with sufficient traffic
  2. Visit the Amazon Associates homepage (https://affiliate-program.amazon.com), find and click on Join Now for Free button
  3. You will be redirected to sign in to your Amazon account or create one if you don’t have one
  4. After signing in into your Amazon account, click on New Customer and start building your Associate account.
  5. Enter all the required information about your account and set up your profile with an ID and fill out your preferred payment method.
  6. Once done with creating an account, you’ll be redirected to your personal Associate homepage. Here you find your performance dashboard (that includes earnings overview, monthly summary, as well as total clicks) and also search for relevant products to link to from your blog or site content.

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To sign up for Kindle Direct Publishing;

  1. Visit https://kdp.amazon.com and click on Sign Up and you will be taken to a page that asks you to create a new KDP account. Click on that button.
  2. You will be taken to a page where you will need to enter all required details
  3. Agree on terms and get an account after receiving email and phone number OTPs

Now you have a Kindle Direct Publishing account, and you can begin to publish.

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