Now that we are on the verge of a new decade, entrepreneurs and business owners need to rethink their priorities and optimize strategies. For example, Amazon could be the ideal partner for your business venture.
Why do we say this? Well, recent Amazon statistics show that more than 2.5 million sellers are currently active on this platform. Moreover, this e-retail giant accounts for 52.4% of the entire e-commerce market in the US!
Still not convinced? Okay, then, let’s take a closer look at the pros and cons of selling your products on Amazon.
What Makes Amazon an Excellent Strategic Partner?
If you are starting an e-commerce business and you want to earn some money by working from home, you will soon realize that the market is super-crowded. No matter the niche or the industry you try to penetrate – thousands of similar companies are locked in an everlasting battle of margins.
But if you decide to go with Amazon, the whole perspective takes a dramatic turn for the better. Amazon statistics say that this platform can deliver goods to more than a hundred countries. What’s more, Amazon has more than 197 million visitors per month!
So, this massive platform can provide businesses with an opportunity to boost brand visibility. Later on, we will elaborate more on the specifics, but it is imperative to understand that Amazon is a welcoming marketplace for newcomers. Even though the e-commerce arena is a highly competitive world, Amazon can help you survive the early days.
How to Sell Your Products on Amazon?
In the recent period, Amazon has started to tighten their approval rates. In other words, they are enforcing more demanding criteria when accepting business partners.
Nonetheless, if you run a legitimate business, you have nothing to worry about when it comes to Amazon. Moreover, the performance standards enforced by the platform may force you to raise your game as well.
Either way, Amazon offers three different plans for sellers:
These plans provide various perks and benefits, but they also come with a set of conditions for each category.
For instance, the Individual level is for sellers who sell less than 40 items per month. The cost of this plan is $0.99 per sale. On the other hand, the Professional plan will cost you $39.99 per month, and you will be able to sell more than 40 products. As the name implies, the Vendor category of accounts is for wholesalers and manufacturers.
But wait, there’s more! Amazon also offers a unique service for small business and e-commerce stores. Yes, we are talking about the incredible Amazon Business, so let’s take a quick look at the features of this platform.
Naming Tips: How to Come Up with a Catchy Business Name
What is Amazon Business, and Should You Sign Up for It?
Over the years, Amazon has diversified its offer. Nowadays, separate subunits of Amazon are in charge of different industries. Amazon Prime is probably the most popular of those services. This membership program has been around since 2005, and Amazon statistics show that Prime has more than 103 million members.
But Amazon Business should be your primary target if you are an emerging entrepreneur. As the name suggests, this service focuses on business-related products. In other words, Amazon Business is an ideal environment for any business that sells corporate items or supplies.
The list does not stop there, and Amazon Business can offer a range of benefits. For instance, you will receive exclusive access to discounts if you sign up for the plan. What’s more, Amazon Business allows multi-user accounts, which means that your team members can also keep track of the sales metrics.
The Benefits of Selling Through Amazon
As you can see, Amazon is not only a big player in the game. Amazon is the game. Therefore, let’s take a look at the reasons why you should consider partnering up with this retail giant at the first opportunity.
Organic customer base
Each month, almost 200 million people visit Amazon. Without a doubt, no other website in the world can provide your business with such exposure. In other words, the enormous popularity of Amazon is a built-in advantage that you should exploit to generate traffic.
Credibility and reliability
As you may know, in September 2018, Amazon managed to cross over the $1 trillion valuation threshold. Alongside Apple, Amazon is the most highly valued company on the planet. Do you think savvy investors would support Amazon if the brand weren’t credible and reliable?
Amazon is a trusted site, and the long-lasting success of this corporation further boosts its integrity in the world of business. So, your own venture can benefit from this situation as well, providing you with an extra layer of safety and trustworthiness.
Technical elements already in place
When you start working with Amazon, you will feel as if a big rock has been lifted off of your shoulder. Why do we say this? Well, Amazon operates like a well-oiled machine, and you can benefit from the technical elements that this company can provide.
To be precise, you will not have to worry about the maintenance of a website or customer support. Also, Amazon can offer a comprehensive set of data and performance metrics for your product listings.
The streamlined storage and delivery
Last but not least, we must not forget to mention the awe-inspiring delivery system. The smoothness of this process is one of the primary advantages of buying and selling on Amazon.
So, not only that this platform will save you some valuable time, but it will also make your customers happier and more satisfied. On top of that, if you sign up for the FBA program, Amazon will handle everything from storage to payments.
As you can see, a partnership with Amazon will provide your business with lots of benefits. Of course, Amazon will charge fees and commissions, reducing your cut a little bit. Yet, your company’s revenue could skyrocket once you display the products in this giant marketplace.
Naming Tips: How to Come Up with a Catchy Business Name
When selling on Amazon, you should pay attention to the title of the product as well as the description. Likewise, make sure to provide high-quality photos of the goods. Video is also a good idea. In some cases, FAQs are beneficial as well.
The bottom line is that you should maximize the potential of selling on Amazon. These little details could provide your e-commerce business with a bit more traffic and boost conversions.
Check out my guide on how to start your business right with tons of useful tips I learned by successfully starting, building, and selling multiple companies.