5 Killer Tips for Selling on Amazon: Go From Newbie to Pro Fast!

Hi everyone, I’m Priyanka Prakash, senior
staff writer at Fundera. If you’re an entrepreneur in the ecommerce
industry, it’s no secret that selling on Amazon can help you maximize your customer base and
revenue. More than 50% of Amazon sales come from third
party sellers, so selling your goods on the platform is a great way to tap into the power
of Amazon and increase your business’s reach. In this video, we’re going to cover five proven
selling on Amazon tips that will help you quickly go from beginner to pro. Let’s get started with our first tip. Our first tip for selling on Amazon is to
keep tabs on your inventory. How many times have you gone to place an Amazon
order as a customer only to find that the item is unavailable? Fortunately, this is an easily avoidable problem
for Amazon sellers. If you use your own inventory management software,
make sure you’ve synced it up with your Amazon seller account. That way, you can see inventory totals across
your Amazon product categories, and you can receive reorder alerts when stock hits a certain
low. Some inventory software tools even allow you
to set up automatic reorders when stock hits a specific low point. If you use Fulfillment by Amazon, then you
can run reports in your seller dashboard showing historic inventory levels. That should help you plan for the following
months. Our second tip for selling on Amazon is to
get five-star reviews for your products. Getting good product ratings seems like a
no brainer, but this is something that new businesses often forget to focus on. It takes time and work to develop five-star
ratings on your different product listings. Be very careful to ensure that your product
information is complete and accurate. Many customers use the Amazon question and
answers feature to learn more about a product. It’s fine to let other customers answer some
questions on your behalf, but it lends more authority to a product when the seller directly
answers questions as well. Another smart idea is to use packaging inserts
to solicit reviews from your customers. Here’s a sample page where a necklace seller
on Amazon has garnered very positive reviews for their products and answered several customer
questions about the product. For example, the seller has answered questions
about the necklace’s length and whether it’s adjustable. People will be more likely to buy this product
since the seller has provided clear details. Customers have also followed up with five-star
reviews. Our third tip for selling on Amazon is to
optimize your listings. Don’t forget about SEO (search engine optimization)
when you list your products for sale on Amazon. Amazon lists product results to closely match
up with what customers are typing into the search box, and many Amazon listings make
their way into Google search results, so SEO is particularly important for boosting your
sales. Make sure your product titles and descriptions
are user-centric and contain the key terms that a customer would use when shopping around
for your type of product. Your brand name, product color, product size,
product quantity (if applicable), and any other key attributes should appear in your
product title. Here’s an example of an Amazon seller with
a solid SEO strategy. You can see the seller’s brand name in the
title, you know you’re getting a set of six lipsticks, and the title includes several
keywords that customers might be searching for related to lipsticks, such as waterproof
or matte. Our fourth selling on Amazon tip is to keep
pricing accurate and up to date. The one thing that keeps customers coming
back to Amazon is the ability to get the best prices on the best products. As a seller, it’s super important to keep
tabs on your competitors’ prices and then try to out compete them. There are several ways you can do this. Option one is to offer a coupon. Third party Amazon sellers can now offer a
coupon on their product page to entice buyers to add to cart. Here’s an example of a seller offering a 10%
coupon. Another option is to offer a Lightning Deal. With a Lightning Deal, you offer a specific
quantity of items at a reduced price for a period of less than 12 hours. This can give a quick boost to your sales. But to qualify, you need a professional Amazon
seller account, your product should be prime eligible, you need to receive at least five
seller feedback ratings per month, and the product must have at least a three-star rating. There are fees associated with Lightning Deal
participation, but these are usually offset by the rise in sales. Yet another option is to participate in Deal
of the Day. This is similar to a Lightning Deal offer,
but typically lasts for 24 hours. The qualification criteria are similar to
Lightning Deals, but Amazon uses more discretion in choosing Deals of the Day, so it can be
harder for new sellers to utilize this tool. To access price savings, customers can either
navigate directly to a product page, or search the Today’s Deals page from the Amazon homepage. And remember, if you can’t beat a competitor
on price, an alternative way to entice buyers is to offer free shipping. Free shipping is something that customers
have come to expect on Amazon, so by offering this you give customers more reasons to choose
your product. If you use Fulfillment by Amazon to fulfill
customer orders, we also recommend making your products Prime Eligible so they automatically
come with free shipping. Select sellers can also fulfill their own
orders and offer Prime shipping. And our final tip for selling on Amazon is
to win the Amazon Buy Box. The Buy Box appears to the right of the product
page and invites customers to either buy the item instantly, add the item to their cart,
or add the item to a Dash button or wish list. The Buy Box is especially prominent on mobile. For highly sought after products, winning
the Buy Box won’t be easy for a new seller because of the level of competition. However, in product categories where competition
isn’t as high, even a new seller can win the Buy Box. To increase your chances of winning the Buy
Box, use Fulfillment by Amazon to fulfill your orders. Always have inventory in stock of your product,
or Amazon will just rotate to another seller. Solicit positive reviews for your product. Offer the lowest price on your product, and
offer the fastest shipping time And that wraps up our five tips for selling
on Amazon. Armed with these tips, you should be able
to quickly go from a newbie Amazon seller to a pro. For more insights on selling through a variety
of channels, check out fundera.com/blog and subscribe to our YouTube channel for more
videos. Thanks for watching.

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