The name Amazon is synonymous with quality products delivered at your doorstep. The website is a worldwide fantasyland that dwarfs the efforts of Etsy, Shopify, eBay, & craigslist – essentially making them come across as mere startups.
For prospective sellers, Amazon is a limitless platform to get aboard ecommerce universe. But with droves of sellers comes intense, cutthroat competition. Time for an incisive incursion into the best, surefire ways to make Amazon money in 2020.
1. Vend own brand label on items
Brand labeling of your manufactured items or already existing items and selling it via Amazon Prime has proven to be a real gamechanger for sellers on-platform. Prime is a premium package that gets consignments to customers within 2 days. This is Amazon, FBA style & an upgrade to the regular FBM style delivery requiring several days to ship, leaving customer unsatisfied. Combined with tools like Jungle Scout, you stand to make around $630 to $1,875 each month on a manufacture.
2. Self-publishing on Amazon KDP (Kindle Publishing)
Amazon KDP is a fail-safe model for making money this year. On KDP, you can control publications of your own books. You can also elect to sell them as eBooks, print books or audiobooks. Amazon takes a 35-75% commission on each listing. Writing frequently and publishing is key if you are to taste any success. In the world of publishing, volume is the gamechanger. Some writer make as much as $40,000 per month.
Affiliate marketing is an old marketing trick that generates cash flow for both parties. Perhaps you’re a blogger with massive traffic volumes; it’s time to convert teeming audience into real money. Lace your posts with unique affiliate links to Amazon item pages. Only promote items that conform to your post’s mission. For instance, you write on kitchen equipment a lot, putting up Amazon links to kitchenware strikes you cash to the tune of 4-8% per item whenever a website visitor buys via your link.
The hustly-bustly nature of metropolitan areas necessitates same-day delivery. This new demand has kicked Amazon to create its fleet of independent fleet. Think of Flex like an Amazon-style Uber. Amazon might support participants with $10,000 to start. A smartphone & a car is all you need. Answer a few questions, get inducted & making revenue. One can make up to 100 dollars daily. Amazon compensates each driver for up to $25 each hour.
5.Amazon customer service associate
Home-based jobs are preferred by a lot of people as a means of earning supplementary revenue. As a qualified virtual associate, one can assist people who reside in remote, hard-to-reach areas. The starting remuneration is $10/hr. There are tech positions too like cloud account specialists & technical trainers.
6.Retail Arbitrage on Amazon
Arbitrage involves buying stuff from one physical store e.g. BestBuy or Target, & re-trading these items at an inflated rate on Amazon. In fact, a slew of sellers started their enterprise using this method. Retail Arbitrage takes the seller in the region of $350 to $1500 each month.
Not a fan of arbitraging from brick and mortar stores? (It’s actually no fun, seriously) Try online arbitrage instead, you source from ecommerce sites like Alibaba or eBay, flipping them back on Amazon. Problem with arbitrage is:
- There are scarce options
- Difficulty upscaling
- Cutthroat competition
Overall, proper arbitrage implementation should land you around $250 – $550 each month.
7.Sign up for Mechanical Turk
MTurk by Amazon is a crowdsourcing market space concerned with data auditing, data entry, photo validation, surveys, research analysis & virtually anything endeavor related to outsourcing work. MTurk is akin to Amazon Flex but for work-from-home tasks. One can earn as much as $10 per hour for these monotonous tasks.
8.Sell Handmade crafts
Amazon Handmade is developed to respond to craft leaders, eBay and Etsy. Handcrafted shoes, jewelries & bags have a wide reach. Amazon Handmade is an invitation-only program & one can in excess of $30 if inducted.
No matter the skillset you possess, there is always a place for great minds on Amazon. Open your eyes & ears; ensure you’re searching from within to start making more money on Amazon in 2020.
Meta description: making more money on Amazon is easier than ever. There will be commissions but an extra $400 in your account every month is reason enough to get onboard Amazon.