Starting an Amazon business is a super exciting journey to take that'll have you on the edge of your seat, waiting for your next customer to make a purchase.
Until your traffic starts declining and you aren't seeing sales.
We've all been there. We start up a business with quality products and services and a great brand vision, but it just isn't hitting the mark. For this specific reason, so many businesses end up failing.
If you're looking to avoid this and to expand your business to new heights, then look no further. This guide will encompass (almost) everything you need to know to grow your Amazon business.
Keep reading for some great tips and more from us here at Legacy Seller!
So we're all aware that advertising is one of the key strategies to grow your business. But are your current advertising methods working best for your business?
Think about yourself as the customer. How many cringeworthy advertisements have you seen on the pages of Google and Youtube? Probably too many to name.
Now we aren't saying that using basic and simple advertisements are bad- in fact they can actually be very beneficial. However, multiple advertising campaigns can really help take your business to new levels.
Some of the most efficient advertising methods include:
And much more. Some strategies that you're possibly aware of can also be considered advertising. This includes word-of-mouth, flyers, and offering coupons.
Did you know that Amazon Prime has over a 100million subscribers in the U.S. alone? Putting this simply, that's quite a number of people using Amazon Prime?
So, take advantage of it and offer Prime to your customers. When you offer Prime to your customers, both you and them have access to features such as next-day delivery that other people don't have the luxury of.
You'll also reach a much larger audience simply because of how many people use Prime on a daily basis.
Amazon is a great platform to not only start your new business but to maintain it too. They do a phenomenal job of making sure your transactions are safe and secure while allowing you to customize your selling site to your own personal tastes.
However, there is a slight downside to using only Amazon. They collect and hold on to all of your customer data as well as absorb all of your incoming traffic. Yes, all of it is eventually redirected to you, but it becomes increasingly harder to gauge your customer's information the bigger you grow as a business.
There are many ways to get around this. First, you'll need to build your own website. Then, you can maintain your business there while allowing your Amazon page to act as a gateway to your personal website.
Do you know that 30% cut that Amazon takes from your business? You can slightly bypass that by simply putting an affiliate link to your Amazon page on your business website. This can increase your total revenue by up to 10%.
Not only does this result in an increase in personal profit, but you can directly access your website's traffic and see which pages are drawing in the most attention.
While we're on the topic of maximizing profit, we have to mention reimbursements.
Chances are you've heard of either Amazon seller reimbursements or Amazon FBA inventory reimbursements- but gotten confused about what they are. Many people are in this boat since it just seems like another tedious thing to take care of.
And hey we get it- there's so much that goes into running an Amazon business. While Amazon makes it pretty easy for you to run it all by yourself, there's still plenty of things you have to take care of.
You have to create a nice storefront page, maintain good customer relationships, deal with third parties, and of course manage inventory.
Through all of that, it's very easy for items and products to get lost. This obviously creates a loss in profit and a reduction in customer satisfaction.
That's where FBA refunds come in. Whenever you lose an item, Amazon protects it by offering you a reimbursement. However, these can get difficult to manage since the process can take a while and is confusing.
To maximize the profit you gain from an FBA reimbursement, consider contacting us here at Legacy Seller. We use an Amazon ToS-compliant process to identify the product cycle for all of your items. From there, we take care of all the errors that arise under the surface so you can get the best refund for lost products.
Our method is proven efficient and safe. We'll deliver to you a full diagnostic report of your refund activity to ensure that you're getting every single penny that you deserve. What's better- you'll get this all within 48 hours.
Combine that with our low prices, and you'll get an Amazon seller refunds experience that'll boost your business' growth by maximizing income.
Now, this next tip isn't something you can fix overnight but rather something that needs your consistent attention.
Customers want to see businesses that are accountable. What does this mean?
It means standing by your word whenever you make a decision such as offering a 10% off coupon to whoever does buys 'X' before the end of the week. It means correcting yourself and offering refunds if your product or service was faulty. It means interacting and engaging with your customers!
There's no lie here- when you're accountable, you're essentially saying that you want to form more than just a seller-buyer relationship with your audience. You crave a deeper connection, one that will last for years and benefit both parties.
Millions of people and businesses worldwide have started closing the professional gap between seller and buyer. When you have a more intimate connection with your buyer, you're likely to sell more. Plus, customers are more willing to recommend your business to a friend!
The world is your oyster, as they say.
When it comes to expanding your Amazon business, one of the absolute best things you can do is to sell internationally. One trend that we've spotted way too often with Amazon businesses is that they only sell internally to their country.
Consider this: a person from another country is using Amazon to shop for an item They find your business as well as another one that sells the same item. They prioritize you since you have great reviews, have a second platform, and you're accountable.
But then... they find out you don't ship internationally.
Boom! They no longer take your business into consideration and opt for another business instead. That's one less customer for you and one more for your competitor.
To maximize your growth, consider selling internationally.
Of course, you need to keep in mind that not all goods or services can legally be sold internationally over Amazon. There's also the case of alternate payment methods, taxes, and language barriers, but Amazon should take care of that for you.
This guide has only begun to stretch the surface of how to really grow your Amazon business. In reality, there are more than a dozen steps you can take that'll really help you make it big.
If you're interested in taking your business to the next level, we invite you to take a look at the services we offer here at Legacy Seller. We offer a few niche services that are sure to improve customer satisfaction and make things easier on your end.
We offer FBA reimbursements, ASIN optimization, and we can even help design your storefront. Have any questions? Head on over to our contact page to get in touch with us directly.