Running an eCommerce business is costly, especially when you factor in storage space, packaging, staffing and time. Therefore, some smaller online retailers use Fulfilment By Amazon (FBA) to offset the costs and have more availability to focus on important work. The FBA service takes storing, packing, and shipping away from sellers, and the cost of service will depend on the length of storage and the number of products. Whether you’re an FBA veteran or a newcomer, we will tell you how to succeed below.
You need to create your own brand if you wish to succeed through FBA, especially given there are more than two million sellers worldwide. With numbers that high, there’s obviously fierce competition in the space to draw in potential buyers. One way to stand out in the crowd is to create a brand and build up a reputation. There’s no use being slightly cheaper than other options if you don’t have a brand behind you – the chances are a customer will choose a quality product from a reputable brand.
Signing up through Amazon and selling your things online is no way to set yourself up as a merchant. Therefore, you should make sure you register as a professional seller. When you do this, you can sell unique products that aren’t available through Amazon, and you can save on commission per item.
When you sign up as a professional seller, you put yourself in a fantastic position if you ever need to sell your FBA company. You should read these exit tips for FBA business owners from FE International to find out how to value your business.
You need to have a passion for your products and understand them inside and out. A quick exercise is to describe your products in 10 words or less. If you’re struggling to do this, then you’ve got work to do. Invest as much time as you need to fully grasp the products you sell because you need to answer customer queries whenever they arise. If you’ve ever read customer questions on Amazon, you will know that the user base comes up with some of the most random queries on the planet.
If you want to pursue making beaded necklaces and think they’re incredible, then that’s great. However, you need to think about what other people are looking to buy. When you’re making your necklaces, you should diversify your product and open up to a wider market. Part of this process will include market research and communication with existing customers. Further, you should investigate your competition to see what they sell.
In today’s world, you may as well let technology carry out the work for you. Rather than going through the long process of listing every product, you can adopt an API to help you out. Anything you can do to automate processes will help you to focus on other areas of the business; watch this video on streamlining your FBA business.
Make sure you keep up to date with your product listings. When you first start, you can utilise the best keywords and images. However, if you’re well established, it can be easy to let old listings slide. It is important that you take the time to optimise your product listings to remain current.
The FBA service is used by over two million people worldwide, and it’s only projected to grow. To do well, you need to conduct market research, fully understand the products you sell, and ensure that you’re selling from a branded page.