Whether it’s about adding an income source or the only income source post the Covid-19 pandemic, one of the best ways to earn money online these days is to make money with Amazon. Given that Amazon is the top e-commerce retailer in the USA recording a net sales figure of around 386 billion dollars in 2020, it’s a golden opportunity for those who want to become an eCommerce seller and earn money from Amazon. This post highlights how to earn money from Amazon by selling and even without selling:
Register for Amazon FBA
Once you enroll with FBA or Fulfilment by Amazon, it’s Amazon’s responsibility for the warehousing (storage, picking, packing), shipping, returns, or refunds of your products. However, to start selling with FBA you must find a product (e.g., from Alibaba), make improvements, and label it with your private brand. Sign up for Amazon seller central and submit your product information. Ship your products to Amazon and their fulfilment centre shall take care of the distribution. As customers buy your product from Amazon, the delivery will be fulfilled by Amazon.
Leverage Retail Arbitrage
If you are a complete novice in this category, the best way to start earning money from Amazon would be to make use of retail arbitrage and save on the outraging shipping costs. As heavy as the name may sound, it’s a simple process where you simply buy stocks (look for discounted products) from a local retailer and sell them on Amazon with your mark-up for a profit.
Use Online Arbitrage
Same as in the case of retail arbitrage, you purchase inventory straight from the online stores or from a site like eBay for cheap, and list them on Amazon and make profits.
Publish Books Using Kindle
Those with writing skills can kick off their book publishing dreams using the Amazon Kindle Direct Publishing service. KDP is a great way to publish digital books within 24 to 48 hours and that’s available on Kindle worldwide. In return, you get the freedom to set your prices, earn royalties up to 70 per cent on sales, modify content, and more.
Sell Bulk Products
Amazon Business is a B2B marketplace that allows you to sell products wholesale. It’s a blessing in disguise for business customers as they benefit from special prices while they shop from Amazon. With over 55 fortune 100 companies listed with Amazon and exclusive business features like requests for quotes or the option to showcase your certifications is what makes it is a great way to start as a wholesaler.
Sell Handcrafted Goods
Those with a penchant for craft can join the seller list from over 80 countries with Amazon Handmade. Given there’s a high demand for these goods, it makes a great platform for selling your handmade products at a good margin.
Sell Through Affiliate Marketing
Selling through affiliate marketing is hands down one of the most popular and proven methods to date. Simply sign up with Amazon Associates and start promoting other people's products on Amazon using the affiliate links they provide. However, you must have a website or a blog where you must create a sales copy for that product, for example, if you have signed up for promoting a mobile phone, you may create a product review content with a link (affiliate link) to that product. You can then earn anywhere between 3 to 5 per cent of the conversion rates.
Work from Home as Amazon Customer Service Rep
With around 650,000 employees across the world, Amazon is soon to become the next big employer. This is the right time to join the ever-growing Amazon customer service team and work from the comfort of your home. The customer service team is spread across 130 locations across the world and supports 16 languages.
Sell Using Merch by Amazon
If you are adept in designing coffee mugs and t-shirts, have a bunch of ideas but are short of resources, capitalize on merch by Amazon. Upload your design, pick a colour and the product type, and your product page is created. It’s as simple as that. Thereon, sit back and relax as the production, shipping, and customer service is Amazon’s responsibility.
Sign up for Mechanical Turk (MTurk) Program
Mechanical Turk (MTurk) by Amazon serves a dual purpose. While the main purpose is to help individuals and businesses to outsource tasks and processes (data entry, data validation, research, etc.) to a virtual workforce, it also benefits those looking to earn through microtasks by joining the program and earn anywhere between 0.10 and 1 dollar for each task. The more tasks you complete, the more you earn.
Amazon Influencer
If you already have a substantial social following, being an Amazon Influencer can help you rake in some good money through commissions earned by promoting products on your Facebook, Twitter, or Instagram page and even through your YouTube channel.
Take surveys, write reviews, create webinars, participate in forums, sell used products or professional services, create private brands, or be a drop shipper, Amazon has something for everyone looking to earn money from home. So, while you shop for your favourite products from Amazon, don’t miss the boat of making some good money from Amazon.