Here’s the deal: Amazon is more popular than ever. According to Business Insider, they add roughly 3,700 new sellers daily. With a global reach, rock-solid brand, and massive opportunity for growth, there’s no wonder sellers of all sizes choose this marketplace. As industry experts, we want to help you maximize your growth with the guide to start selling on Amazon in 2023.
Why Sell on Amazon?
Why do people start selling on Amazon specifically? The marketplace has a lot to offer. From a large daily-shopper base to an instantly-recognizable brand and everything in between, there is the chance to secure your spot in the industry, regardless of your category. Here are a few of the biggest reasons sellers choose Amazon:
- Massive customer base: Amazon has over 300 million active users worldwide, making it one of the largest online marketplaces in the world. By selling on Amazon, you gain access to this huge customer base, which can be incredibly valuable in terms of generating sales.
- Global reach: Amazon operates in more than 15 countries around the world, including the United States, Canada, the United Kingdom, Australia, and many others. This means that you can sell your products to customers all over the world without having to set up your own international distribution network.
- Low barriers to entry: Starting an online business can be expensive, but selling on Amazon has relatively low barriers to entry. You don’t need to invest in your own ecommerce platform or build a brand from scratch. Instead, you can leverage Amazon’s existing infrastructure and customer base to start selling products right away.
- Brand recognition: Amazon is one of the most recognizable brands in the world, and by selling on its platform, you can leverage that brand recognition to build your own brand and generate more sales.
- Fulfillment options: Amazon offers a range of fulfillment options, including FBA (Fulfillment by Amazon), which allows you to store your products in Amazon’s warehouses and have them shipped directly to customers. This can save you time and money on shipping and handling.
How to Start Selling on Amazon
Amazon encourages third-party sellers to join their ranks by making the startup process as straightforward as possible. However, there are a few key steps you’ll need to take. Here’s a brief overview:
- Choose your product: The first step in selling on Amazon is to choose your product catalog. While options are nearly endless, it’s important to select a product that has a proven demand and is not already saturated with competitors.
- Create an Amazon seller account: Once you’ve chosen your product, you’ll need to create an Amazon seller account. This will give you access to the Amazon marketplace and allow you to use the subsequent steps and tools.
- List your products: The next step is to create product listings. This means writing and compiling a title, description, and images of your product. You’ll also need to set a price and decide on shipping and fulfillment options.
- Optimize your listings: To generate more sales and outpace your competition, it’s important to optimize your product listings. This involves using relevant keywords in your product titles and descriptions, optimizing your images, and ensuring your product descriptions highlight the benefits you offer.
- Promote your products: Amazon is becoming increasingly pay-to-play. To raise awareness and secure an audience, promote your products to generate more sales. This can be done through Amazon’s advertising platform, as well as through social media, email marketing, and other channels.
Getting a Head Start on Amazon
Starting a new business on Amazon can be challenging, but you can get early progress and build momentum. Here are a few tips to keep in mind:
- Optimize your listings regularly: As we mentioned above, optimizing your listings can help you get found and encourage customers to choose your product over your competition. However, the more frequently you optimize, the better your results. With hourly bid updates, seller daily performance saw a 13% increase in net revenue, and a 10% increase in CVR. Flywheel 2.0 does this for you for free, check out how.
- Leverage Amazon’s advertising tools: This includes Sponsored Products, which allows you to promote your products within Amazon’s search results, as well as Amazon’s email marketing platform and social media tools.
- Monitor your metrics: It’s important to monitor your sales metrics to see how your products are performing. This includes tracking your sales, conversion rates, and customer feedback. By analyzing the data, you can identify areas where you need to improve and make adjustments to your listings and marketing strategies.
- Build your brand: Building a strong brand on Amazon can help you generate more sales and stand out from your competitors. This involves creating a consistent brand image across all of your product listings, as well as using social media and other marketing channels to promote your brand and engage with your customers.
Go Even Further with Teikametrics
If you really want to start selling on Amazon and growing quickly, reach out to Teikametrics. Not only are we intimately connected with Amazon and the latest data and news, our Flywheel 2.0 is the industry-leading AI that optimizes your listings for you for free. By aggregating data from multiple marketplaces, it can help you with keyword research, negative keywords, listing improvements, and so much more. Don’t wait, we’ll get you where you want to be.