Amazon is one of the most profitable ecommerce markets in the world. This makes it the biggest millionaire-making online businesses in the UK. There is no secret that Amazon is a convenient ecommerce website for consumers.
Jeff Bezos founder of Amazon says “The Amazon marketplace otherwise known as the millionaire factory has been responsible for more self-made millionaires than any other marketplace”.
If you are thinking how to make money on Amazon and be successful. There are tons of ways to make a handsome profit margin with minimal investment. However, it is a lesser known fact that one can earn money other than selling on Amazon.
There are ample of great tactics to earn money on Amazon. For this reason, to help you find what method might work best for you, we have shared seven tried and tested techniques to make money on Amazon in 2022.
Without further ado, let’s get started.
1. Selling private label products on Amazon is important
Amazon makes a majority of its sales revenue from its online stores. It implies that online stores is the finest approach to make money on Amazon. If you wish to sell on Amazon and want to earn more profitably and scalable than online arbitrage, you might want to consider selling your private label products. The best technique to earn money on Amazon in 2022 is selling with private label sales using Amazon’s Fulfillment-by-Amazon network. The substantial advantage of selling private label products is that you’re the only one selling them. Amazon can deliver your products typically in two days or fewer what you likely know as Amazon Prime. This is how e-commerce business owners like you and me can list goods on Amazon and make money from the sales. All you have to do is take an existing Amazon product and change or improve it in some way to make it your own.
2. Affiliate Marketing
One of the most simple ways to make money on Amazon without selling anything is Amazon affiliate marketing. Amazon’s affiliate program is indeed huge in the Amazon money-making world. If you have reached online, whether it’s through a website, blog, or because you are a community moderator, you can make money as an Amazon affiliate. Hence, recommending products on Amazon in a product category that attracts your followers. This is a perfect opportunity to earn a decent amount of money without selling anything yourself. Easy to get started and maintain and generate income.
3. Retail Arbitrage
Supplying discounted products can make money if you utilize retail arbitrage. Sourcing inventory from foreign countries will require paying massive shipping costs. Most sellers avoid this by leveraging retail arbitrage. Retail arbitrage is substantially the procedure of buying inventory from local retailers and then selling on Amazon for a profit. Online retail arbitrage and buying directly from websites and benefit from free shipping. But if you work by a rule, the best discounts are found in-store. Retail arbitrage permits you to take advantage of discounts offered to make a profit by selling products on Amazon. By taking advantage, you can make a significant percentage of income for many products.
4. Sell Handmade Goods
From the past few years, a surge in demand for handcrafted goods has been observed.
Because, people love decorating their homes and offices with different DIY’s ideas which they collect. The recognition of art has increased significantly recently. If you believe that the art of your region should reach out globally, then selling online on Amazon is the best business for you. It also gives an opportunity to bring the skillful artists into the light and get the appreciation they deserve. If you are someone who is hands on art and have a passion for making things at home, then you must join Amazon Handmade. There are sellers from more than 80 different countries selling their handcrafted products on Amazon. Amazon has an artisan application and audit process to make sures that the products are authentically handcrafted. The pricing for handmade sellers is very easy and accessible.
5. Become a blogger or social media influencer
In 2017, Amazon launched an influencer program. Under this program, social media influencers enrol themselves in the program and when accepted become Amazon Influencer. This program directs social media traffic to Amazon using a unique affiliate link. When your audience makes a purchase then you earn a certain amount as profit. You can make money from Amazon while giving a voice to your thoughts and ideas. On your blog or social media page or even in email that link goes out to quite a few more folks, so you can make quite a bit more money in commissions. Amazon Associates is an affiliate program where bloggers sign up to get special links that only they can share. For this reason, keep your Amazon store updated with the latest and useful products which work the best in grabbing customer’s attention and compel them to hit the ‘add to cart’ button. If the customers make a purchase using your URL from 10% to 1%. That’s how Amazon’s Associate’s program works.
6.Kindle Direct Publishing
Are you an aspiring writer, or a new writer and wishing for a get recognised as a writer on a global platform? Then Amazon Kindle Direct Publishing is what you need the most right now. Amazon Kindle direct publishing lets you publish Kindle books on their platform. You can earn up to 70% royalty on sales to customers in the US, Canada, UK, Germany, India, France, Italy, Spain, Japan, Brazil, Mexico, Australia and more. If you enroll in KDP Select and earn more money through Kindle Unlimited and the Kindle Owners’ Lending Library. Above all, publishing Kindle eBooks and paperbacks for free on KDP. With KDP you aren’t limited to just digital kindle books. In addition, you will need to sell yourself or you’ll have to handle all marketing since there’s no agent or publisher to help you in the marketing and sales.
It is true that it is one of the biggest ecommerce websites in every marketplace. But the platform offers far more than just diversity in its range of products. It also offers many different ways to make money. If you’ve been wondering about how to make money on Amazon, then we hope that this article helps you in making handsome money from Amazon.
If you are an online Amazon seller, then you must have an intelligent tool that will guide your business towards success by targeting the brand story, right keyword, products research, analyzing competitors, fba calculator and so much more. Get your ticket to success today!