A Well-Stocked Inventory:
Inventory planning and management is the most critical aspect in this business after choosing a winning product. You can take this process as the “make or break” part of your Amazon business. Poor and substandard inventory management can descend your business from its apex to dust. Running out of stock means losing your buyers and sales, while too much stock means high storage fees. So, what should you do to stay in the middle? Analyze the selling velocity of your competitor and invest your time in good inventory management accordingly.
Optimize Your Listing:
As per our experience, without a high-level listing optimization, you will lose 50% of your sales on Amazon. The main reason behind this is that A9 (Amazon’s AI algorithm) shows your listings to the searchers/buyers based upon your listing SEO. If your listing is fully optimized with long-tail and relevant keywords, you will be at the top of the spot in search results, and if not, then you are in serious trouble!
In a nutshell, Amazon listing optimization is based upon the following things:
- Search the most relevant keywords.
- Optimize the title, bullet points, and description.
- Eye-catchy and informative pictures and videos (optional).
- Take full advantage of Enhanced Amazon brand content.
- Get more positive reviews and FAQs.
Moreover, do not forget to perform the backend-optimization. Here you have to put all of your remaining long-tail keywords in the “platinum keywords” section of your listing.
Reduce your costs:
Everybody needs a warehouse to start a high-level business, and having a warehouse can cost you a fortune. as Amazon will charge you per product and will provide you fully secure storage. By doing Amazon FBA, you can minimize your storage cost.
Further, while sourcing your product, get the best price from your supplier by getting his trust. Cost-effective sourcing is considered as half of the launch of your product. The dollars or even cents that you will save from sourcing will be added up to your profit. That, my friend is the hard and fast rule.
24/7 Customer Support:
There is a saying, “It’s not you who is the owner of your business; it’s your customer!” A satisfied customer is a progressive step towards a successful business, so get more satisfied customers to take your business to its summit. If you are doing the FBA program, you have to source your product and ship it to the Amazon warehouse; the rest depends on Amazon (to pick, pack and ship your order). Now, it is your primary duty to provide 24/7 customer support. Manage your returns when the customer is not happy with the delivery or item.
If the job seems hectic to you, then hire a team for this work but never neglect it.
Learn from Veterans:
Nowadays the market is saturated with many Amazon courses but only few are worth the time or money.