Product research is likely the most important skill to master in order to be a successful seller in the Amazon marketplace. There are few tools that you should explore, most likely, you will need a couple of these going forward, here I tell you what these tools are, how to use them and where to find them.
Affiliate MarketingYou’d be promoting other people’s products or get paid on a per lead basis. All you have to do is sign up for one of the many affiliate networks (like clickbank.com or peerfly.com), then you’ll get a unique affiliate link that you need to use when promoting products. Every time someone clicks on your link and buys the product then you will earn a commission that can be a few bucks or thousands of dollar per sale, it all depends on the price of the product you are promoting. Want to learn how to earn money online without paying anything, read this detailed article.
Why I don’t do affiliate marketing anymore?In summary, because I wanted my time to be spent on building my own business, when you do AM you’re basically growing someone else’s business. I remembered the days when I finally was making some made decent money, out of the blue, I got a call from my affiliate manger saying that the brand owner was cancelling the offer, meaning I had to start over and I didn’t like that feeling. Now, if you own the traffic, i.e. if you have a website with visitors then is a different story, but I didn’t so that was it for me. AM is great for cash flow and yes there are people making BIG money this way. It’s a matter of personal preference, the good thing about doing business online is that YOU get to decide what is it you want to do. My advise is, if you’re going this route then build a website and control the traffic, it’s not a short term strategy but is the most promising long term.
DropshippingThis is very similar to affiliate marketing but instead, you’d be selling physical products. This is how it works: you find a supplier that offers drop shipping then promote/sell their products, when some buys from you then you place an order with your supplier and they do the shipping for you, the cool thing is, you don’t even get to touch the product. For more details about this path, check out this more detailed article on dropshipping.
This is why dropshipping was not my chosen path.
- Profit margins tend to be thin as the competition can be fierce, remember, this path has a low barrier of entry so lots of people are doing it this.
- Customer complaints/returns: delayed shipments, defective products, incorrect items sent to customers, these are things you can’t control since your supplier is doing all of it and this eats into your profits.
- Similar to AM, you’re growing someone else’s business instead of your own.
- Suggestion: if you’re doing this, niche down, meaning choose a market that is very specific, don’t try to put up a website that competes with Walmart or Amazon, instead, find a passionate market, say accessories for Labrador dogs, or trout fishing items. This will make your marketing so much easier and will also increase your chances of success!
eCommerceThis is what I’m doing right now and yes there are also many ways of doing eCommerce. This is not recommended unless you have at least a couple of thousand dollars to invest, ideally I’d say five to ten thousand dollars. In my experience, I didn’t really start to see any real profits until I stated selling more than $10 per month, typical margins are 15% to 25% when buying wholesale and 20%-40% if you’re selling your own brands. You’d really see the money rolling in once you past the $40K per month in sales, at this level you can be making $4k-$6k in profits. You can create and sell your own brands or you can sell known brands or a combination of both, different from drop shipping, you’d be buying from wholesellers and actually taking possession of the inventory. I recommend that you start selling on ONE marketplace first, choose Amazon, eBay, open a seller account and learn their platform before spending money on products. Warning: Amazon is very serious about keeping their market place fair and free of fake products, any infraction in this regard with get you banned right away. So, stay away from DVDs, Games, etc.
Learn how to earn money online at home and learn about marketing tools, are you bold
enough to crack the code on how to make big money online?
The following options are also great to earn money online without investment for students.
Affiliate marketing: this is basically promoting OPP (Other People’s Products).
How to Do Affiliate Marketing:
The first thing you should do is to find a market to serve, if you have a special interest like music or are knowledgeable about a topic, that might be a good starting point, if have no idea where to start, no worries.
There are many affiliate marketing networks like Clickbank.com or Commission Junction, you can sign up for free.
The main difference between these two networks is that Clickbank has products that other people created and are selling, when you sign up you get a unique affiliate link that you will use to promote your chosen product.
You just need to grab your affiliate link and share it with people who might be interested on that product, think of family, friends, etc.
You can also promote your affiliate link on social media, or classified listings like Kijiji or Cragislist for free. Every time someone clicks on your link and buys the product you get a commission that could range from a few bucks to hundreds of dollars per sale, depending on the price of the product. You may want to get started with a mid to low priced product as these are typically easier to sell than an expensive one.
The Peerfly network is more focused on CPL (Cost per Lead) offers, here people will pay you every time someone drops their email or phone number at their website or landing page.
A landing page is designed exclusively to trigger an action from the visitor like entering an email address or buying a product. Once you sign up, you’ll also get your own unique affiliate link that you can promote just as I explained before.
Dropshipping: promote and sell other people’s physical products.
How to Do Dropshipping:
You’re basically selling known products to other people, you will need to create a website to show your products and take orders, once you receive the order just go to your dropshipper’s site and place the order, the will ship the product to your customer directly so you don’t need to worry about shipping or ever touching the product.
You make money because you’d be buying from your supplier say at $10 and selling to your customers at $20.
Just do a search for Dropship suppliers and you will find plenty within your own Country, nowadays, a lot of people are also drop shipping items from Aliexpress.com from China as well, beware that delivery times for Aliexpress are typically 4-6 weeks so make sure your customers are aware of this to avoid complaints and order cancellations. Keep in mind, this is just another way to make money online.
Arbitrage: buy products at low prices and re-sell them online
How To Do Arbitrage:
There are many ways to do arbitrage, the first option is doing Online Arbitrage. Just like the name implies, the idea is to buy and sell products online.
For instance, buy at Target.com and re-sell those products in Amazon. To do this kind of business I highly recommend that you evaluate Tactical Arbitrage, this software will make your life MUCH easier and will also increase your changes of being successful.
The second option is to physically drop by all the stores you can and purchase items that are on sale, then re-sell those items in Amazon or eBay. This option is more time consuming but there are many people making money this way so check it out.
You too can make money online now.
I want you to be realistic about your goals, making money online is not just filliping a switch and waiting for millions to fall on your lap. It takes effort, willingness to learn and above all perseverance, but it is possible, I am the living proof 😊
You know how critical the buy box is for your success, why waste your time and money with other repricers when Appeagle (now Informed.co) gives you the power of machine learning at a reasonable price?.
What is a Repricer?
Repricers are tools typically sold as SAAS (software as a service), that automatically adjust your product pricing up or down depending on a predefined criteria, the most advanced repricers like Appeagle use smart algorithms to give you an edge. Repricers are typically used in third-party marketplaces like Amazon, Walmart or eBay.
What is the best Amazon Repricer?
The answer to this really depends on your business requirements, for some a cheaper repricer that adjusts prices every 15 minutes might be enough, for others, advanced algorithms and frequent price adjustments are a must. Appeagle (now Informed.io) is certainly one of the most popular Amazon repricers used by professional sellers.
Start Appeagle (now informed.io) Free trial.
What can Appeagle do for my business?
- Win more buy boxes = increased sales.
- Instant pricing changes to stay ahead of your competition.
- Advanced sales data to improve top and bottom line.
- Free up your time to focus on growing your profits and finding new products.
- Top notch customer support.
How does Appeagle work?
Appeagle comes with built in smart pricing strategies that will allow you to start repricing you products in less than 10 minutes, it also has the option to define your own parameter to adapt your repricing strategies to your own business requirements.
It’s pretty simple:
- Give Appeagle access to your Amazon seller account to automatically extract all your active listings.
- Select the predefined pricing strategy that you want.
- Start repricing
- Go focus on other tasks 🙂
How much does Appeagle cost?
As of this writing, you can choose from three different plans:
- Starter $99/month
- Growth 199/month
- Professional $299/month
You can save 20% if you choose annual billing, see what’s included in each plan here.
Start your Appeagle (now Informed.io) Free trial now.
Once you reach certain amount of revenue, it’s time to step up your game. Do you know why your competitors seem to always beat you to the buy box?, why they seem to adjust their prices not even a second after you’ve adjusted yours?, experience has taught them that having a repricing software is critical to success on Amazon or any other third party marketplace.
When do you need an Amazon repricer?
Imagine this real-life situation: you have an item for sale and want to make sure your price is competitive, you go and spy on your competitors, if necessary you then go back to your own product and adjust the price up or down accordingly, easy isn’t it?
But what if you had hundreds or even thousands of products, how much of your precious time would you have to invest multiple times a day to stay competitive?
The reality is that a repricer is a must-have if you want to scale your business, the sooner you accept this the better, don’t cheap out on this, there are many other areas of your business where you can save money.
Get an Amazon repricer like Aura or Appeagle(now informed.io) as soon as your business can support it, I’d say a profit of two thousand a month is a good starting point to get a subscription to a decent repricer that will keep you competitive and save you a ton of time that can be invested in growing your revenues.
What to look for in a repricer?
- Easy to import product cost.
- Able to connect to your Amazon account to extract all your products automatically.
- Pre-configured with various repricing rules that you can pick from but also flexible enough to allow you to build your own repricing strategies once you get more advanced.
- Fast execution, a repricer must work every single time, period. No bugs, no issues, no calling customer service because their software stopped adjusting your prices, if you experience any of this is time to get a professional Amazon repricer.
Want the best amazon repricer?
I’ve been selling on Amazon for years now and I can tell you that I’ve had to try many of the repricers in the market to be able to find the one that works best for my business (I mostly do wholesale). See below the detailed review on the ones I’ve used.