Tips on growing your Amazon Business – part two
To recap on last week’s eletter… Over the past ten years or more that I have been selling on Amazon, there have been many changes – some small, some quite big.
As discussed before it is always best in business to be prepared for change and to meet challenges head on. There is little point in burying heads in the sand or throwing in the towel.
As I have already said, I am often amazed at the way sales can vary – not just week to week, but on a day to day basis, too.
Just look at just some of the variables that can affect sales…
- Seasonality
- Prices
- The economy
- Holiday periods
- Range and depth of inventory
This week let’s look at a further three practices you can use to improve your business, sales and – most importantly – increase income.
CHECK OUT OTHER MARKETPLACES
Don’t just look at selling on Amazon, explore other avenues such as eBay or eBid.
I admit I personally do not use eBid. If you are not aware of this site, it has basically been introduced to cater for sellers that may be frustrated by eBay.
Many feel that eBay has evolved away from an auction site to a shopping site and feel fees charged by eBay are too high. eBid charge a yearly subscription, but no fees on sales.
Actually, I’d love to hear your feedback if you have any experience of eBid.
I get the impression that not many people know about the site, suggesting sales may be relatively few in comparison to eBay. I would love to be corrected, though – do let me know!
EXPAND YOUR HORIZONS
What about looking into selling overseas? To do this profitably you need to be aware of international postage costs and the money paid to you via Amazon postage credit.
Be very careful when you price your item and when adjusting prices at a later date to ensure costs are taken into account with any price reductions
Be aware, too, of increases in postage rates by Royal Mail. They often hike up postage rates in April.
When adding items to Amazon’s catalogue, remember to optimise the visibility of your products.
Use all 250 characters allowed by Amazon for your listing title. Take into account search terms that buyers might make to find your product.
To do this write down any words you might expect buyers to use – and think outside the box. Ensure all spellings are correct.
Be truthful and descriptive without making your item too complicated to find.
To add items to Amazon’s catalogue, go to your seller account and find the link called: ‘Add a product’.
It is a simple procedure and allows you to add items to sell that Amazon do not sell.
Remember – If you add a product, others will be able to use your description page and become a rival.
Of course, you might have a unique product and therefore have no competitors and price your product as you wish.
To add a product, you may need to buy a unique EAN number. They are quite cheap to obtain, perhaps a couple of euros.
Last year I purchased a product on a pallet – no one else has this item. I added the product to Amazon’s catalogue and the two euros paid for an EAN number was well worth the cost, making hundreds of pounds of profit!
Good luck with your sales… and I look forward to next week’s eletter, where I will reveal the final few tips in this discussion.
What do you think?
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