The first, and certainly the most effective, method of making money on Amazon is private label sales via Fulfillment by Amazon network. Around 70% of Online stores on Amazon earn money through this strategy.
When it comes to developing and facilitating online stores, Amazon has a unique advantage over its competitors. Amazon will be used by millions of people to buy products this year, but you can also generate income with Amazon.
- Amazon has made 385 billion US dollars in gross market value globally on the online marketplace since 1994.
- As compared to others, no one sets up such a huge marketplace as Amazon.
- Amazon gets itself prioritized in exchange for relationships with its customers, Eventually, everyone would actually love to buy anything from Amazon at first sight.
- When we talk about online money-making tycoons, it doesn’t get much bigger than Amazon.
- As fortunately, for any entrepreneur looking forward to a unique way to generate income, Amazon is an easy way to get started with.
- They diversify your mindset in building your great wealthy lifestyle. As surprisingly they open a well-ethical gateway to start a profitable business with your own.
13 possible killer ways for making money on Amazon:
1. Promote Amazon Products with Affiliate Links:
Many people put a keen interest in selling Amazon products, but they don’t want to go through the procedural barriers of sourcing products, storing inventory, or fulfilling orders. If this is how you feel then Amazon Associates is for you. Simple as that you just have to join, advertise and earn.
In this program, Amazon will assist you with special links that you can use to advertise their selling items by promoting them with your main content. You can refer to your blog, social media pages, or anywhere else on the internet by using your link.
Traffic is coming on your website, clicking on your link, and buying a product as eventually, you get a certain amount of commission against the services you provided on your website.
This strategy is ideal for those civics who already have an established blog or social media following. Or if you’re skilled with SEO ranking strategy you can create a website around a particular niche. Optimize your pages with winning keywords, promote relevant items, and include your affiliate links to start earning.
2. Resell Items You Find on Other Marketplaces:
As the community thinks that to sell products on Amazon you need to know the tactics of getting wholesalers for inventory with manufacturers. This can be a bit browbeat and avert some people from ever starting this kind of business.
However, you can resell products from other online marketplaces like AliExpress, eBay, Walmart, Facebook, Shopify Marketplace, and more. This is known as online arbitrage.
What most people don’t get a reality check is that prices can vary greatly from one marketplace to another. You might be able to find a product that’s selling on eBay for half the price it’s selling for on Amazon. If this is the case, you can buy it on eBay and then resell it on Amazon for a profit.
It is understood, not everything you would buy to make your money. If there’s no demand in the marketplace for what you’re selling then you won’t get out with maximum sales. That is the reason as prior you start an online arbitrage business you need to do some product research.
Here’s a user manual on how to do online arbitrage successfully:
- Consider Amazon and other marketplaces to see what you might be interested in selling.
- Focus on products that are selling for less on other marketplaces, as these will allow you to make a profit when you sell them on Amazon.
- Install the AMZScout Pro Extension. Search for the products you’re interested in on Amazon and when the search results come up open the Extension.
- Audit the sales history to ensure that the items sell consistently all over the year, then examine the product and niche score to make sure that there would be enough demand but not too much competition in the Markey place. Scores of 7 or higher than it means it’s a hot product to sell.
- Once you allocate items that you want to sell, install AMZScout’s Online Arbitrage and Dropshipping Extension. When you overview those products on Amazon you’ll now be able to see your costs, profit margins, and other data in helping you to figure out whether they’ll be profitable to sell.
3. Self-Publish a Book on Amazon Kindle:
As in the old days when you needed to be accepted by a major publisher to make money selling books. Now with Amazon, you can simply publish your e-books on their given platform and start earning a nice income.
It is your viewpoint to write either fiction or non –fiction. Effectively, fiction writers generally make more, but it’s harder to market and sell a fiction book. That is why many authors put focus on non-fiction. If you target a popular niche and use the right winning keywords, it’s feasible for you to start showing up on Amazon searches.
The pretty minimal cost you have to bear to write a book, presume you’re planning on writing it yourself. You’ll have to pay for a cover design, and it’s recommended you hire someone to edit and format your book. But neither of these will set you back too much, making this a great opportunity for anyone who loves to write.
4. Make a Brand:
Identify a product you love, place an order from the manufacturer, put your brand and logo on it, and you’ll be a brand seller. List your product on Amazon at whatever price seems competitive to you. As an Amazon seller of your brand, you have total control over your products.
You can apply for a brand registry with Amazon as it will protect your private label product from being disputed. Well, It’s hard enough to compete on Amazon, but if you have a winning product that has unique credibility or you have an edge in the marketplace, then you can unlock a huge amount of money by selling branded products on Amazon.
When you know how to effectively write product descriptions to impel buyers, take aesthetic pictures, and offer a top golden product then eventually you may rapidly gain popularity on Amazon.
5. Sell Your Professional Services on Amazon:
Amazon made their name in the market by selling products, and now they’re proceeding into selling professional services as well.
It is poles apart from the Mechanical Turk program, which focuses on unskilled tasks. As with Amazon Home Services, you’ll be selling skilled labor. Currently, the program offers:
- Product assembly
- Product installation
- Home theatre services
The services provided originate from customers’ requests after they buy an item on the site. The program’s motive is to help out customers to get their products working or installed.
This golden opportunity isn’t for everyone, you should have that potential to develop the top skills. After evaluating yourself that you can do it then go for it.
6. Sell Merchandise:
Basically in this, you are selling your product which belongs to your brand.
For instance, you make a design for your product and list it out on Amazon. If the customer shows interest and buys your shirt then Amazon will print it and send it to the customer. Because the platform system works on a print-on-demand system. You don’t have to buy or store any inventory. Automatically your shirts are created accordingly to the order.
This is an awesome business for an artistic mind which is good at designing. You can always hire someone to create designs for you at an additional cost.
7. Resell Items You Find on Other Marketplaces:
Lots of people think that to sell products on Amazon you need to know how to get inventory from wholesalers and manufacturers. This can be a bit intimidating and prevents some people from ever starting this kind of business.
However, you can resell items from other online marketplaces like eBay, AliExpress, Craigslist, Facebook Marketplace, and more. This is what’s known as online arbitrage.
What most people don’t realize is that prices can vary greatly from one marketplace to another. You might be able to find a product that’s selling on eBay for half the price it’s selling for on Amazon. If this is the case, you can buy it on eBay and then resell it on Amazon for a profit.
Of course, not everything you buy will make you money. If there’s no demand for what you’re selling then you won’t get many sales. This is why before you start an online arbitrage business you need to do some product research.
Here’s a quick guide on how to do online arbitrage successfully:
- Have a look at Amazon and other marketplaces to see what you might be interested in selling. Focus on products that are selling for less on other marketplaces, as these will allow you to make a profit when you sell them on Amazon.
- Install the AMZScout Pro Extension. Search for the products you’re interested in on Amazon, and when the search results come up open the Extension.
- Check the sales history to ensure the items sell consistently all year, then look at the product and niche score to make sure there’s enough demand but not too much competition. Scores of 7 or higher mean it’s a good product to sell.
- Once you find items that you want to sell, install AMZScout’s Online Arbitrage and Dropshipping Extension. When you view those products on Amazon you’ll now be able to see your costs, profit margins, and other data to help you figure out if they’ll be profitable to sell.
8. Sell Your Own Branded Products on Amazon:
If you want to sell on Amazon and are looking for something more profitable and scalable than online arbitrage, you might want to consider selling your private label products. These are unique items that have your branding on them.
The big advantage of selling private label products is that you’re the only one selling them. This means you face less competition and you don’t have to fight other sellers for the buy box.
Coming up with your unique item might seem difficult, but it’s fairly easy. All you have to do is take an existing Amazon product and change or improve it in some way to make it your own.
To figure out what to sell, follow these steps:
- The AMZScout Product Database helps to find items that meet your criteria. Examine products that have 300 sales per month, are priced between $40 – $70, have less than 100 reviews, and weigh less than 5 pounds, as these criteria are mostly followed by the successful sellers.
- Install the AMZScout Pro Extension and search for those items that you have found with the Product Database. Check their sales history, product, and niche scores, to ensure that they’ll be profitable all year long with less in competition.
- Once you discover something you want to sell, find a manufacturer who can create a similar item for you. The best place to find one is Made in China that search out your product there and start approaching manufacturers.
- After the evaluation of samples, you can place an order from the manufacturer.
9. Self-Publish a Book on Amazon Kindle:
Gone are the days when you needed to be accepted by a major publisher to make money selling books. With Amazon, you can simply publish your e-books on their platform and start earning a nice income.
You can choose to write either fiction or non-fiction. Popular fiction writers generally make more, but it’s harder to market and sell a fiction book.
This is why many authors focus on non-fiction. If you target a popular niche and use the right keywords you can easily start showing up in Amazon searches.
The cost to write a book is pretty minimal, assuming you’re planning on writing it yourself. But neither of these will set you back too much, making this a great opportunity for anyone who loves to write.
10. Deliver Orders Through the Amazon Flex Program:
The Amazon Flex program is similar to Uber, except instead of delivering people you deliver packages.
With this program, you use your vehicle to deliver Amazon orders. Simply download the app, sign up, reserve a block of orders, pick them up at the depot, and deliver them to the specified addresses.
While this isn’t exactly a scalable business, it’s a great way to make some extra money. It’s worth noting that the Flex program isn’t currently available everywhere. They may also have enough drivers in your area, in which case there won’t be any openings.
11. Complete Tasks on Amazon Mechanical Turk:
Amazon Mechanical Turk (MTurk for short) is a program that allows businesses to hire people for simple virtual tasks.
The idea is that there are many things that humans still do more effectively than computers. This includes data validation, transcription, and research. There’s also the opportunity to take surveys.
Participating in the program is easy. Just sign up, pick the tasks you want to complete, and submit them for payment. There’s no set schedule, you can do these tasks on your own time.
The downside is that these jobs generally pay very little. Still, if you have some free time and want to make some money it’s worth a shot.
12. Sell Handmade Items:
Are you crafty, artistic, and likes to make your goods? Then you might want to consider selling your products on Amazon.
Amazon Handmade sells items made by local artisans. This includes jewelry, mugs, toys, and beauty items. Chances are, if you can make it then you can sell it on Amazon.
Of course, the same rules apply here as they do for selling any type of product. You should make sure there’s a demand for what you’re selling before you put all your time and energy into making it.
Selling handmade stuff can be a lot of work. But if it’s something you enjoy then this will be an excellent opportunity for you.
13. Work for Amazon:
Amazon is top world’s largest marketplace, which means they offer millions of jobs all around the world. If you have eager in working for Amazon there are numerous opportunities to explore.
You can visit available jobs at Amazon. Some jobs offered by the company include:
- Customer support
- Human resources
- Software development
- Warehouse worker