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Build a Successful Amazon Business

Kevin Gardner Dec 03, 2019
If you are looking into using Amazon as your primary platform for selling your goods or services, there are many ways that you can elevate your sales and successfully navigate Amazon. Here are some tips for creating an Amazon service that you can profit and thrive from.

Price Your Goods Competitively

In order to make sales and profit from your business, you will need to find the perfect price for your goods or services, which will be lower than your competitors, but enough so that you will be able to make a profit and a living through your business.
You should do extensive research on how much your products sell for on other sites, as well as other Amazon businesses. Base the price of your product also on its quality and whether or not it is used or new.
Additionally, it is a good idea to keep track of market trends and whether or not your particular products are increasing or decreasing in popularity, and adjust the market price accordingly.

Make Bundle Offers

Bundling your products is a great way to both sell more and to make more money off of your customers, while still offering them a discount as an incentive. The best way to go about this process is to list products that are similar or will benefit each other, and to offer them at a small discount when purchased as a whole.
Your customers will be incentivized to do this and will still feel gratified that they were offered a discount, but you will still be able to make a decent amount of money off of the transaction.
For high traffic shopping days during the year, such as Black Friday or Amazon Prime Day, consider offering attractive bundles and notifying your regular customers of them to motivate sales.

Put Money Back Into Your Business

Although making a large profit is always nice, you will benefit immensely by taking a portion of your profits and re-investing them into areas of your business that need improvement. For example, you can use revenue to increase your advertising, to reach more of your target market.
Another good option is to upgrade your site security with aws security to attract more customers who are worried about whether or not their information will be kept safe. Many security companies have programs built to work specifically with Amazon, so you can feel confident in investing in your business security.

Expand Your Inventory

Like any other business, whether online or at a brick and mortar location, it is important to consistently be looking into new inventory that will add to your sales revenue and increase your overall profits.
When increasing inventory, consider products that your existing customers will likely want to buy, as well as what your target market may be interested in.
You can also send out emails or newsletters to your existing customers and ask directly what other products they would like to buy from your Amazon store, in order to receive benefits such as free shipping or discounted rates. Continue to do this, and you will have a large inventory in no time.

Use High Resolution Photos

Appearing professional is a key to getting sales, and can often be a customer's deciding factor on whether they want to invest their money in a product. If they are unable to see a full, detailed picture, they are less likely to make the purchase.
Therefore, you can be sure to get good, high quality photos of your inventory in order to give customers peace of mind that they know exactly what they are ordering. Be sure to get more than one photo of important specs for your product or features that have been advertised to be the selling point for other customers.
Building your own Amazon business does not have to be a tedious endeavor. With these tips, you are sure to be successful and generate a good amount of income.