In our final installment we'll look at some of the nitty-gritty contributors to successful selling on Amazon.
There are more than 20 factors that determine your success on Amazon and we have covered 20 of those in our four part blog series. Should you need expert advice for your products, the team at Podean would be very willing to provide you our consulting services.
16. Sell semi-popular products
It can be tempting to find the most popular products that are sold on Amazon and jump on the bandwagon to get your share of the market. But the more popular the product, the more competitive the buy box and pricing will be. Consider finding a semi-popular product that you can sell that will still have buyer demand while remaining less competitive with other sellers.
17. Know your numbers
Keep close track of your profit margins and expenses. You don’t want to rush into purchasing a large inventory order before you know what your net profit will be after you sell it all. Learn your numbers and carefully plan your projected sales and income. Consider bringing in the help of an Accountant if needed, and don't forget that if you're running other advertising that they are all related... your Google search and video also helps build your brand, as does any other online or TV advertising - it all helps build your brand and ultimately enhance Amazon conversions.
18. Know Amazon’s product restrictions
Although you can sell almost anything on Amazon, there are still some limitations on what you are allowed to list. Some of the items on the restricted products list are surprising, so never assume you’re safe until you specifically check! You can find the full list of Amazon’s product restrictions here.
And even if the product is allowed, Amazon can be quite cautious around sellers. For example in the case of selling fine jewelry, a history of legitimate selling and minimum turnover is required.
19. Use Amazon’s provided tools (and others)
When you sell on Amazon, everyone wins – this means that it is in Amazon’s best interest to help you succeed. Amazon has produced some useful tools to assist you in marketing and selling your product. Learn how to use these tools, and you’ll be heading in the right direction towards making a living selling on Amazon.
There are also many companies who have developed tools to work with Amazon. some of them leverage Amazon's APIs, and others scrape the site which is frowned upon by Amazon and rumored to be shut-off in the near future.
The Podean team has evaluated over 50 companies and their tools/platforms and is able to provide clients unbiased advice tailored to your specific needs.
20. Watch what you name colors
Do you know the difference between turquoise and teal? How about maroon and burgundy? Even if the manufacturer describes the product as a specific color, it may in fact, be a different shade or different color entirely. Make sure you properly name the color according to what the actual product is. By doing this correctly, you will avoid unhappy customers and unwanted product returns.
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