Whether you’re a new or veteran seller on Amazon, you could probably use some tips on how to generate more revenue on the world’s biggest e-commerce platform. After all, the website has a massive stream of buyers and thousands of sellers trying to vie for attention. With nearly 50% of all products on Amazon coming from marketplace sellers, you want to do everything to capitalize on this lucrative opportunity.
The last thing you want is to grow frustrated, overspend on managing your business, and be left with products that no one desires of buying. To help you maintain a successful Amazon business, listed below are tips that can maximize your profit potential.
Conduct competitor research.
If you’re having a hard time ideating which products to sell next, take a look at what your competitors are peddling. Check out Amazon’s best sellers to get an idea of what items are popular at the moment. It would help if you plug the products into services like Unicorn Smasher or AMZ scout so you can get useful information like estimated monthly sales, competitor intel, and fee calculators.
Look into bundling products.
If there are hundreds of other sellers trying to sell the same products as you, it can be challenging to land on the cart of customers. As a workaround, you may want to consider bundling products to offer an irresistible deal. Create a new bundled listing, resulting in a unique listing that shows up when people search for the product. Everyone clicks on the listing buys from you and you alone, effectively ridding yourself of competition. You can even charge more since you’re throwing in something extra.
If you’re a newbie, start small.
If it’s your first time selling products on Amazon, there’s no need to source hundreds of products to get started. In fact, it would serve you best to only sell a few items initially. That way, you can build an organized, streamlined process, which you can scale as you go along.
Employ good SEO practices.
In order to show up on searches more, you need to optimize your listings and put good SEO measures in place. You’ll have a much better chance of getting discovered if you do keyword research and plugged those keywords into your listings.
Use high-quality photos.
Buying online is tricky because people can’t actually see and feel the product you’re selling. To help you sell more, you should only use excellent product photos that accurately depict the size, color, and texture of your products. You should include at least eight pictures for variety, shot in different angles, close-ups, and with a person holding the product for scale. You can also consider 360-degree images and videos to make your listing more engaging.
Write compelling descriptions.
Sometimes, photos are not enough. You should make it a point to write detailed descriptions that complement the product images. Tell your brand story and provide comprehensive instructions about the item. Tell your customers what exactly they’re getting should they decide to purchase.
Just like in real life, people would be more inclined to buy your products if they get testimonials from other customers. Time and time again, it’s been proven that positive reviews contribute heavily to more sales. When buying items and people are unsure about what to do, they tend to look around to see what others are saying, so it’s important that you collect reviews.
Following the aforementioned tips on how to generate more revenue on Amazon can help you increase your income in the ever-expanding platform that is Amazon. Should you need assistance in managing your Amazon business, get in touch with us today to see how we can help. We are an Amazon FBA prep service and are happy to help.