7 TIPS FOR AMAZON FBA AND PRIVATE LABEL SELLERS IN 2020
Success is not guaranteed to anyone on Amazon, regardless of whether you’re a drop shipper or a private label seller. The only way to overcome your competitor is precision and a flawless sales strategy that satisfies the customers.
Below are seven tips, you can begin with in order to increase sales on Amazon:
- Spend Quality Time on the Product Idea Research Phase: Coming up with new ideas should be an ongoing process. Always keep an eye out for new, hot and trendy products. Then try to test out the validity of selling them.
- Regularly Review Manufacturers and Suppliers: You might already have a good manufacturer or supplier, if they are the right fit for you, make it a point to regularly review product ideas with them.
- Stick to High Profit Margin Products that Sell and Ship Easily: Product attributes to consider- weight, size, cost, seasonality, ease of selling, ease of use, etc.
- Make Coupon Codes for Your Products: Make coupon codes for your friends and use them strategically. They can be an incentive to a buyer to choose you and choose you often.
- Do Market Research: It’s very important to do market research to see if products are still a hit with buyers or not and then figure out how to factor that into your current plan.
- Your Brand Logo is Giving you Your Best Shot: The Most successful brands in this world have simple logos that are immediately identifiable with their products such as Google, Amazon, Apple, etc. So your brand design and packaging should take the same approach which identifiable with what and who you are as a seller.
- Maximize Your Profit Margin: Prices are changing on a regular basis, but if you can stick to the 3X rule, you should be doing okay. What are the 3X rules? Whatever you paid for the product, one-third of that price will be what you paid for that item, one third will go to Amazon and the remaining third will go into your pocket.
So you need to focus on your research and a proper strategy to become a successful Amazon Seller. Selling on Amazon without a proper plan can turn out to be disastrous for sales and the seller’s reputation as well.
If you have any questions, let me know and I’ll help you with your e-commerce journey. I know I can help you make your first dime online selling on Amazon.
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