Set Up Your Online Store
After you’ve finished sorting the items of value from the junk, it’s time to move into the next phase: selling your items.
Similar to the various liquidation pallet marketplaces, there are so many marketplaces to set up your online store Amazon and eBay are the most popular.
Each marketplace has its own culture and guidelines. eBay has always been a favorite place for the “garage sale” entrepreneurs. If you’re serious about cultivating an income flow from reselling Amazon liquidation pallets, then you’ll find a home at eBay.
You can still resell the items on Amazon. Amazon, compared to other marketplaces, though, tends to carry stricter seller guidelines.
When reselling on Amazon, keep in mind that you may run into trouble if reselling any of the following items:
- Clothes
- Electrical panel
- Espresso machine
To help determine the value of the items, they consulted with a local pawn shop. After selling only the pool pump, electrical panel, and LED monitor, they made $370. Depending on whether the other items sold, it’s uncertain if they would have made any profit. They did pay, after all, $570, to obtain the pallet.
So what’s the takeaway here?
Selling liquidation pallets is a gamble, but
There are ways you can increase your chances for profit. One is to purchase manifest pallets over unmanifested or mystery pallets.
Become An Amazon Affiliate
Affiliate marketing is a brilliant way to make some passive income if you have a blog or website that generates a decent volume of traffic.
Become an and earn a commission by putting special affiliate links to various Amazon products on your site.
The idea is to promote products that align with your blog or websites mission. So, if you have a website about how to travel efficiently, you may promote items such as packing cubes, sturdy suitcases or wrinkle-free clothing.
Each time someone who comes through your website clicks on the affiliate link, youll earn some money. You can earn anywhere from 4% to 8.5% of a sale.
Keep in mind that commissions are generally really low, which is why you need a significant amount of traffic to your site.
The more page views you have, the more chances are that the links will get clicks. No traffic means no chance that anyone will see those links to be clicked on.
Amazon offers a progressive earnings structure on the majority of merchandise and the more clicks and purchases you get from your site, the more you can make.
Create A Unique Brand & Grow Your Amazon Fba Business
After researching your product and youre confident you want to continue selling your product in your Amazon business then its time to think about logo and branding design.
I want to include this in the beginning because you want to have this done with your next large order.
This is crazy:
You can hire a kick ass freelancer from freeeup for $12 dollars an hour or even more if you want and they can design a logo for you within a day.
Then you can use them anytime you need design work done.
They can help you with:
- Packaging Design
- Logos
- Infographics
Its such a simple process to hire one of these workers and their customer service is outstanding. Freeeup will recruit, interview, and hire online workers then place them into your business effectively saving you time to grow your company.
Lets say it takes the designer 2 hours to design your logo. Thats $24 USD
Can images like this make all the difference?
Yes, they can
You can also use tools like Canva to make incredible images for free!
Requesting a Logo on Alibaba
Look:
At the very least if you dont want to register your brand, you can test the validity of a product with a logo on it.
Branded products usually get priced higher than unbranded products so its something worth testing.
Pro Tip: If you arent making consistent sales you shouldnt worry about registering your brand on Amazon. Create a name to sell your products under and it can be a generic name to start.
Requesting Logo for Amazon Products on Alibaba
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Selling Private Label Products
This is a very popular option for many Amazon sellers. Private label sellers purchase products from manufacturers but package and market them under their own brand. This has many advantages, the main one being you actually build a name for yourself by selling a branded item that belongs to you. You can private label a huge assortment of goods, includingcosmetics and skincare products.
Like reselling manufactured items, selling private label products has upfront costs because you have to buy these goods in some volume. But if youre trying to build brand recognition beyond Amazon, private label products are a great way to do it.
Evil Strategy #: Amazon Sellers Can Leave False Negative Feedback On Your Products
Did you know that there are people out there who will leave negative feedback on a product for a fee? While Amazon has tried to crack down on this practice, there are still groups out there doing this.
Basically, a competitor will have someone buy your product and then leave you negative feedback claiming that your product is counterfeit or fake.
Amazons bots will then take notice of these trigger keywords and immediately ding your account.
Heres the thing. Most real buyers dont use language like bootleg or counterfeit. In our experience, genuine buyers who want their money back for a return just express their anger or disappointment at the product for a specific reason.
If you find that someone is using words like counterfeit, bootleg, or fake, then chances are the feedback is malicious.
The best way to combat this practice is to pay attention and address the negative feedback immediately. Be super courteous and show that you are willing to do ANYTHING to make the problem right.
Amazon will keep a record of all of the conversations and take note of your responsiveness and great customer service should you ever get suspended.
In other cases, Amazon may force you to show documentation that your products are indeed genuine. Sometimes this involves suspending your product until the proof is provided. Either way, it sucks because you are guilty until proven innocent.
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Underhanded Tactics Evil Amazon Sellers Are Using To Cheat And Get Ahead
In just the past few years, Amazon has become such a cutthroat marketplace that unscrupulous sellers have been purposely trying to sabotage their competitors. As a result, most sellers are hush hush about their products and never talk about their winners in public.
In fact Amazon is so competitive today that if you have a product that is even mildly successful, you will eventually get piggybacked by multiple sellers if you havent been already.
Heres a sampling of some of the insidious activities that are happening on the platform right now.
The tactics mentioned below are evil and highly unethical. And the fact that people are using these strategies really makes me angry.
But you should be aware of whats happening out there in case it happens to you.
More Than 50% Of All Amazon Sales Come From Third
Third-party sellers continue to flock to Amazon, a trend that has seen upward growth for several years and does not seem to be slowing down anytime soon.
In fact, the percentage of third-party sellers on Amazon has been increasing steadily over the past 5 years, rising from 40% in 2013 to 53% at the end of 2018.
This is great news for Amazon, which brought in more than $9.3 billion in revenue from third-party sellers in the first quarter of 2018 alone thanks to FBA, commissions and other seller service fees. But what does this mean for sellers?
It means that more and more sellers are operating on Amazon as direct-to-consumer businesses, instead of handing the reins over to Amazon as first-party sellers.
This offers sellers greater control and ownership over their business but takes a toll as they struggle with poor seller service, a lack of customer data and an ever-changing marketplace.
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Ways To Find Best Selling Products On Amazon
Whether youre curious about how to find best sellers on amazon, or you want to find out what you can sell to climb to the top, there are ways to do it all.
There are approximately 400 million individual products in Amazons line up, and you wont be wrong in thinking thats a lot of sorting to go through.
So in this list, there will be guides to finding out the best selling products online that are of interest to you, in whatever category you choose.
Prime Products Sell For More
Items will generally sell for more when sold via FBA versus selling the item merchant fulfilled.
When items are sold via FBA, then Amazon Prime customers receive the same prime shipping benefits as when items are sold by Amazon. The return policy is the same as well. This leads Amazon Prime customers to have more confidence in the offering, and they will know exactly when they will receive the item.
This higher level of confidence often means they are willing to pay a higher price.
In my experience, if were selling an item via Prime, were generally able to sell for at least 5% higher than the seller fulfilled competition, and very often were able to sell for more than 10% above the seller fulfilled competition.
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Amazon Listing Optimization Overview
Amazons product listing can be broken down into eight different components.
Each section should lead the buyer through a process helping them decide if they should purchase your product or not. Your listing should be search friendly and ideally unique.
Now, lets look at how you can optimize each element in your Amazon listing.
How To Open An Amazon Account
To sell on Amazon, you can go through the following steps:
Step 1: Go to
Step 2: Scroll down and click the Selling on Amazon link .
Step 3: Select between Sell as a Professional or Sell as an Individual. As a beginner we recommend selling as an individual. Amazon charges $0.99 per sale. For a professional seller account Amazon charges $39.99 per month.
Step 4: Fill out the required information and once youre done then youve officially become an Amazon seller.
You can also use this video below detailing how to open your Amazon seller account.
How to Open an Amazon FBA Account
Use your personal information, you dont need a legal business right away to start an Amazon business.
Your personal tax information is perfectly fine because you can claim any earnings as personal income to start. If youre .
If you want to sell on Amazon from outside the US this is what you currently need:
- A local bank in your country that supports whats known as ACH which only means that your local bank can receive electronic transfer payments from Amazon.
- Your home address where you receive personal mail.
- local phone number with your countries prefix.
- A US EIN number. You dont have to be a corporation and have any type of legal status in the US to get this number. An EIN may be obtained by filing IRS Form SS-4, Application for Employer Identification Number
There you go, its that simple.
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Take Advantage Of Amazon Ppc
Amazon PPC is affordable advertising and its growing. In a world where advertising is getting more difficult and saturated day by day, we do recommend using emerging platforms over established.
There are plenty of guides out there for Amazon PPC but its pretty simple:
- Take advantage of the AI tools
- Constantly tweak the ads
Selling on Amazon requires a dual-strategy approach for your multi channel commerce.
- On your main site, which should be your own web store, you sell all your flagship products and try to get the majority of your customers.
- On Amazon, sell sale and overstock items, second tier branded accessories and anything else that arent your key profit drivers. Its a great channel to move unsold inventory quickly thanks to the massive customer base, and it can be powerful to attract new customers to your business if you are just starting out.
Need help figuring out how to sell on Amazon? Give us a call. Our Profit Partners are ready to help.
Why Arent I Being Compensated Correctly For Shipping
Amazon determines how much they think it should cost to ship a product based on the merchants origin, the customers address and the given weight of the product. However, oftentimes the amount of money that Amazon reimburses merchants for shipping won’t match the actual shipping cost. Making sure that your item weight and dimensions are listed correctly will help make these shipping estimates as accurate as possible. However, it may still be necessary to factor this into your pricing decisions – sometimes, you’ll need to increase the price of a product to offset Amazon’s too-low pricing estimates. If you’re having problems making a profit after shipping costs, you’re probably pricing too cheaply.
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$14k Is Spent By Amazon Prime Members Each Year
In 2018, Prime members spent an average of $1,400 on Amazon, whereas non-Prime members spent around $600.
That means Prime members have more than 2x the annual spend of non-Prime buyers.
If you think about it, this stat is not all that surprising. Prime members tend to be loyal Amazon shoppers, those that are already more likely to shop on Amazon on a regular basis.
But if you approach this from a psychological perspective, you can see an even more interesting reason why this stat may have come to be.
With an annual fee of more than $100 a year, many Amazon Prime members feel the need to justify their subscription.
Essentially, the more an Amazon Prime member shops on Amazon, the more they are getting out of their subscription and the less guilt they feel over the cost.
Whatever the reason, this stat is evidence of the importance to sellers of achieving Prime-eligible status.
Those who do so open themselves up to a pool of 95 million US shoppers who are much more ready to buy than the typical Amazon customer.
Next Steps To Amazon Seller Success
Selling on Amazon is a great way for new online entrepreneurs to get started in this market. It takes the hassle out of selling online. Let somebody else do the hard work of shipping and managing inventory for you. And put a trusted brand to work on your behalf.
Put it all together and you have a recipe for five or six-figure income each year.
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Amazon Enhanced Branded Content & Storefront
Amazon Enhanced Branded Content pages makes it easy for you as a third-party seller to create a listing that drives sales. Amazon storefront lets you showcase your products and tell the story of your brand.
You can now protect the brand and private label products you create with the Brand tools Amazon offers its sellers.
Find A Highly Searched Amazon Keyword
Similar to SEO, you need to find the best keyword for your product to maximize your earnings potential. Finding a relevant keyword with a high search volume on Amazon is your top priority.
Unless they know the exact name of what youre selling on Amazon, users can only see your product if they type in the keyword related to your product.
There are a couple of tools that can unearth the monthly Amazon search volume for related keywords.
- Keyword Tool The tool helps you find keyword suggestions that you should consider to use for optimizing your product page.
- The Amazon product research tool offers a comprehensive keyword feature that shows the different products which appear on search results. Each product also reveals the BSR, estimated sales, estimated revenues, and more.
- Merchant Words The tool contains over 60 million keywords that Amazon users enter on the search bar to shop. It also shows the search volume for each keyword to help you decide which ones to optimize for.
- Helium 10 Helium 10 has become our favorite keyword research tool for Amazon, with a bunch of powerful metrics to help you decide whether you should sell a particular product.
Aside from these tools, Long Tail Pro allows you to find the average Amazon reviews for each keyword. As mentioned, you should choose a product with the least reviews as possible so you could get indexed on the first page of search results.
Why?
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Get Your Pricing Right
Finding the right pricing strategy for your products is tough enough as is, but add Amazons complexities and an open marketplace for other sellers to compete with you and you have quite a handful. However, if you keep some key considerations in mind, you can hopefully prevent other larger issues from arising.
Pricing parity
Your selling agreement with Amazon includes a pricing parity clause. Your item price and total price cant be lower at any other online sales channel according to the general pricing rule. This includes your own Shopify site. Avoid a potential account suspension for not following this mandate and ensure that you price Amazon as low as your other channels.
Automate pricing
Since Amazon is a marketplace, you may very well be competing against other third parties to win the buy box. There are several repricing tools available on the market, and Amazon recently released the Automate Pricing tool on Seller Central to help you automate pricing decisions. For example, you can set a rule to beat the buy box by 2% until you reach a certain floor.
Ensuring you are winning the buy box regularly, and being alerted when you are losing the buy box, is essential to growing your Amazon business. Note that pricing for vendors has a different process from marketplace sellers.
This benefits you not only by allowing you to sell more units in a short amount of time, but it also temporarily lifts your baseline business post promotion .