20 Ways to Make Money on Amazon
Amazon is one of the biggest online marketplaces where both sellers and buyers exchange goods and or services. The best way to make money on Amazon is to sell products. There are currently two ways of selling on Amazon.
The biggest earning method is being a seller and there is a range of products or services you could sell on the platform.
The other method is actually earning from Amazon by becoming their partner.
There are multiple ways on How to Make Money on Amazon, as I started taking courses and making money online I realized that most of the courses and skill sets are transferable. Some of the courses you take on How to Make Money Blogging can actually increase your Amazon income and will showcase them below:
STATUS: Over $1 MILLION FROM BLOGGING
This course showcases How to Make Money with Affiliate Marketing. The course will teach multiple strategies of how to increase your affiliate income. This course creator has made over a MILLION DOLLARS in affiliate marketing.
HOW TO USE THE COURSE: you can start a website and provide, feedback and reviews on multiple Amazon products. You can earn commissions through Amazon Associates Program. Click Here to Start Affiliate Marketing
COURSE: KINDLE PUBLISHING
INCOME: GREAT POTENTIAL
This course shows the step-by-step process of how create profitable Kindle ebooks. Do not be dismayed by the selling price of $2.99, publishers are making passive income in the thousands of dollars.
HOW TO USE THE COURSE: if you are blogger (or any niche) you can create a “how to” or best tips and then create a series of ebooks. The best approach is to create related content and make them into a series. This increase engagement as the reader is compelled to buy the other books. Click Here to Learn About Kindle Publishing
COURSE: FACEBOOK ADS
STATUS: 2 MILLION MONTHLY VIEWS
This course creator has received over 2 million views from his blog, mainly from his Facebook Ads. The best part about this course is the Facebook Ads are very cheap and yet they bring so much traffic. The most important aspect of any business regardless be it online or brick and mortar is TRAFFIC.
HOW TO USE THE COURSE: you can easily start a cheap Facebook Ad campaign and send it directly to your Amazon business. The best approach is to compare your ROI (rate of investment). It may be cheaper to run Facebook Ads instead of Amazon PPC. Click Here to Start Facebook Advertising
STATUS: EARNS $100,000 PER MONTH
The course creators are making over $100,000 a month. They mainly use Pinterest as their main source of traffic. The course strategies mainly center on how to increase followers, engagement and convert your visitors into customers.
HOW TO USE THE COURSE: Pinterest has become a leading search engine and their users tend to visit the destination link. You can easily create your pins and have them go directly to your Amazon link. You can use this method for either your own listed Amazon products or affiliate links. Click Here to Start Your Pinterest Course
PRINT ON DEMAND
SERVICE: PRINT ON DEMAND
INCOME: GREAT POTENTIAL
This is one of the best ways to Make Money on Amazon, mainly because you do not have to incur expenses by buying the inventory. This is truly a fun way to create a store, you get to design your products with less upfront cost.
HOW TO USE THE COURSE: Create your design, and then have your designs listed on Amazon. The order is only created once the sale is made, and this helps you tremendously because you do not have to purchase inventory. Click Here to Start to Designing
TYPE: DROP SHIPPING DIRECTORY
INCOME: GREAT POTENTIAL
This one of the leading ecommerce business model. Just like Print on Demand, you do not have to purchase the inventory. You are a middleman, when you make a sale you then purchase the goods from the manufacturer and they ship it directly to your customer.
HOW TO USE THE COURSE: You can list your business on Amazon, select FBM (fulfilment by merchant). To be successful with this business model, some tips to consider may include having short shipping timeframes, easy returns and great customer service. Click Here to Start Dropshipping
HOW TO MAKE MONEY ON AMAZON
FBA (fulfillment by Amazon) – this is when a seller sends their inventory to Amazon warehouse and then Amazon ships to the customer. This process allows Amazon to ship the product faster and this is widely known as Amazon Prime. If you use this option, make sure your final price includes Amazon extra charges as they have different charges to store your products such as, shipping fees, fulfillment fees, inventory fees
FBM (Fulfillment by Merchant) – instead of Amazon shipping from their warehouses the seller ships directly to the customer, this shows up when you are paying for items in the cart. Usually, the standard shipping times are more than the Amazon Prime timeframe. If you choose this option, make sure you have great shipping, returns and customer service process, as Amazon has metrics you have to abide by.
LISTING SERVICES: If you have a licensed business, you can now list your business on Amazon. This is a great way because Amazon can be used as a customer database.
COMMISSION: This is a great way to earn money from Amazon, without the headaches of creating a product or managing a store. All you have to do is refer visitors and if they purchase something, you get a commission. There are different types of commission payouts and they are based on the category.
WHAT TO SELL ON AMAZON
MONEY MARKER: This option has scaled side hustles into thriving businesses. As stated above, do your research but in addition, PLEASE UNDERSTAND AMAZON MERCHANT TERMS.
PRIVATE LABELING is when you buy goods from a manufacturer, they design or improve the product according to your specifications and once that is completed, you then sell that product under your own brand name. This process is also known as private labeling or brand creation and it is widely used by so many companies such as Walmart or Target. Due to the rise of Amazon, the process has gotten much simpler and more accessible to many people. How much you can make on Amazon is truly based on the product, market and marketing strategies, many have become millionaires while selling on Amazon.
TIP – the above is a summarised process to give you an idea, please conduct thorough research before starting
Below is the Process to Private Label
- research which products are selling
- find a manufacturer or supplier who has that product sites like (Alibaba,)find ways to improve the product or quality
- calculate your desired profits, take into consideration all expenses such as minimum orders, insurance, shipping from supplier to Amazon
- request and pay for a sample order from your supplier and make adjustments if necessary
- if all checks out, order your product and ship to Amazon
- once received by Amazon, start implementing marketing strategies
This can easily start as a supplemental income and turn it into a full-time income if done accurately. The process simply involves scouting in-demand products from other retail stores and then reselling at a higher price. Usually, the profits are much higher for products that are in high demand and low in supply (which is what drives the price) For instance, Disney toys or movie memorabilia, in addition, also pay attention to the seasonality and trending products.
TIP – due to the crackdown of counterfeit brands, barrier to entry has become more difficult, do your research first on Amazon terms as people are still making money with this option.
MONEY MAKER – This option can generate thousands of dollars a month if done correctly. Take the time to learn the pros and cons of drop shipping.
In recent years Amazon has expanded its business model and now that includes small and large businesses having the ability to sell their products directly on Amazon. The main difference between private labeling and dropshipping is that with private labeling the costs are high if you choose to store your product in Amazon warehouse, whereas dropshipping you can ship directly from the supplier straight to the customer. This is cost-effective when done accurately, as you do not have to hold any inventory.
Another way to dropship, you could have your own Shopify store and sell on Amazon. This is a great way to conduct your business because Amazon has become a search engine on its own and has ready to buy customers, this can be another traffic source for your business.
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MONEY MAKER – once you get all the requirements, this option can generate a monthly full time income.
This is when you buy brand name products directly from the wholesaler or the manufacturer and add markup for reselling. Due to the high counterfeit products on Amazon for you to sell brand name products, you have to be approved by the manufacturer. Usually, this requires a two-step process which includes the application and approval process you have to acquire before selling on Amazon.
The best part of this process is that you don’t have to spend much money on advertising as the consumer is already familiar with the product and brand unlike Private Labeling where you have to educate the consumer of your brand.
Most manufacturers have set requirements and a regal process for approval for instance such as:
- you need to have a registered company
- you need to have a valid reseller’s license and sales permit
- to maintain product quality, some manufacturers require you, the seller not sale the product below a specified amount
- you have to specify where you are going to sell the product because they do not want too many sellers on one platform
If you have gone through the college process, you know one of the most expensive items and still is, are textbooks. The worst part was the book requirement for that semester was the next edition and the only differences were minor changes such as page numbers or nothing of great value.
TIP – keep in mind of your shipping costs as prices are calculated by weight some of those books are heavy
This can become a full-time hustle if you get a great academic book dealer who sells for a cheap price. The best approach is to conduct market research and identify which books are in demand. Books on Amazon can easily sell well even if they are used as long as they are mint condition.
LIST SERVICES ON AMAZON
MONEY MAKER – if you have a business, this is the best place to list your services, but before you do, it may be best to implement quality strategies that enhance customer experience.
With the expansion of the Amazon marketplace, they have now included a different form of business, which is Selling Professional Services. Instead of just selling physical products, companies can now sell their services on Amazon. This is a great source of traffic and can create a different revenue stream as Amazon is no longer just a marketplace but a search engine as well.
How to sell your services on Amazon
For you to sell your services on Amazon you need to meet the qualification listed below, (this list is not exhaustive, as terms and conditions constantly change)
- licensing for trade professionals
- your business needs to be registered
- you need a general liability insurance
- apply, register your account, wait for background checks to go through, set up your time and post your service
MONEY MAKER – do not let the small royalties deter you. The best strategy to research top selling content. This is a great way to create passive income.
This has been a profitable yet surprising method to sell on Amazon, especially with the diminishing demand in book publishing, mainly because you can sell both physical books and digital books that are sold on Amazon Kindle App. Some kindle publishers have generated passive income on a regular basis just from selling low priced ebooks. For you to be successful in selling ebooks, first do your research and create a marketing plan.
Below are some tips to consider and learn How to Profitable Sell eBooks
- write multiple ebooks
- write ebooks that are in demand
- do your topic and keyword research
- understand and use Amazon Keywords
- sign up for the Amazon Kindle promotion
- share your ebook with many people and get reviews
- you can outsource the writing to freelancer and Kindle Design Cover
Amazon Mechanical Turk is where Amazon sellers remotely hire freelancers to complete various tasks that computers can not compute. The starting rate differs based on task difficulty, experience, and past ratings. The higher the rating, the higher the payout rate is. Some tasks listed on the site include:
- writing product descriptions,
- answering questions and more
- identifying specific content in an image or video,
DELIVER FOR AMAZON
Amazon has recently started its own delivery company, where they deliver the products directly to their customer instead of using FedEx or other larger companies of the sort. To meet this demand, Amazon is in need of drivers and you can do so by signing up for Amazon Flex Program. There are different types of delivery requirements such as Prime Now, Amazon Fresh, Store Orders and Instant Orders.
AMAZON ASSOCIATE PROGRAM
MONEY MAKER – setting up an Amazon Review website would be the best option, mainly because it can generate income passively.
This method is widely used by many bloggers as they get a commission for every referral they send. The most profitable method would be to write reviews for products that are sold on the marketplace and start referring to traffic.
TIP – some bloggers create a niche product review website that focuses on a particular category on Amazon
By signing up for Amazon Associate, you typically get about 8% for qualified referrals. Be mindful of the commission payouts, Amazon has recently changed their rates. Additionally, Amazon has different payout rates for different categories.
FREELANCER AMAZON TASK
You can sell your Amazon skill sets as a freelancer to sites such as Fiverr and set your rates higher than what Amazon Mechanical Turk pays. Conduct your research and examine which Amazon tasks are in demand and become an expert. Package your knowledge and sell them on a freelancing website, common tasks in demand on Fiverr regarding Amazon include, “product description” “customer support” “product sourcing”
TIP – usually Amazon sellers offer guidance and assistance regarding the outlined tasks. The best approach would to research the in-demand Amazon tasks, before applying for any task
How to make money on Amazon is possible when you treat the marketplace as a search engine. If you want to sell your products or services on the platform, take the time to research what the buyers need, find ways to improve the product and its quality. Look at the best selling product in your categories, go the lowest ranking reviews, read through and make a note on what you can improve.
Cheering To Your Success
Brenda | www.DesignYourFinances.com
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