2 Great Ways To Make Money On Amazon
There are many ways to make money on Amazon. You can join the Mechanical Turk Marketplace and get paid to perform virtual tasks, publish an eBook or print book through Kindle Direct Publishing. Or you may be able to deliver items via Amazon Flex, if the program is available where you live.
But Amazon’s status as the best-selling online retailer makes two lucrative opportunities stand out from the rest:
Join Amazon Associates, the company’s affiliate marketing program.
Sell products through the company’s e-commerce platform.
Here’s what you need to know about the two options.
1. Become an affiliate through Amazon Associates
Participants connect to Amazon products on their blog or social media channel and receive a commission based on subsequent sales. Amazon Associates is great for influencers who are already promoting products.
How Amazon Associates Works
Affiliates earn a commission when a visitor to their website clicks on a link to an Amazon product and purchases it. The visitor must purchase an item within 24 hours or add an item to their cart and purchase it within 89 days. Commissions are typically 1% to 10% of the purchase price, less shipping, taxes, and fees.
How to register
To start the Amazon Associates program, you must have a website that meets Amazon Site Requirements. Then submit a request. If accepted, Amazon asks you to place its affiliate disclosure on your site. The Federal Trade Commission also requires that affiliate marketers clearly disclose their dealings with retailers in messages containing affiliate links. This means that affiliates should make all disclaimers easy for readers to find.
How To Make Money As An Affiliate
Affiliate marketing is usually the best way to make money on Amazon. This is because you will have a built-in pool of potential customers who trust your judgment and will be more likely to purchase the products you recommend.
Your success as an affiliate depends on tailoring the products to your audience. Start by thinking about the needs of your audience and why people are following you. Or go straight to the source by sending a survey or email asking what types of products to include on your site. Then, specify the relevant details in your messages.
Suppose you run a nature photography blog for beginners. If you hook up to a $ 65 aluminum tripod, you can add, “It’s light and compact, so it’s a good option for hikers. I brought it on my three day hike through Yosemite and it held up well in bad weather.
Once you’ve created affiliate links on your site, focus on increasing traffic to those links to increase your chances of making money. Frequent posting of content, such as blog posts or Instagram posts, can help engage existing subscribers. And it can help your site appear in search engine results, thereby attracting new readers.
To add more affiliate links to your site, consider creating a product page that allows you to list multiple links. It also gives readers easy access to the articles you recommend.
Or you can start a series of weekly or seasonal posts where you review the products. It’s also good to experiment with Amazon’s link, button, and banner options, which can help highlight the products you recommend.
Track your site traffic with a tool like Google Analytics and use Amazon Affiliate Reports. They will help you determine if your tactic is working or if it’s time to change your approach.
Money saved is money earned
Track spending across all of your accounts to see where you can cut or save.
2. Become an Amazon seller
Those looking to start an online business can make money selling on Amazon. It takes entrepreneurship and significant effort to get off the ground. But with the right product, the potential gain can outweigh the risks.
Before you start selling on Amazon, choose a profitable product. To do this, you will need to factor in selling costs, such as manufacturing and site fees.
How to start
First, check if you are eligible to sell in the category you have chosen. Some products, such as auto parts and watches, require Amazon approval before they can be listed. Next, figure out how much it will cost to get your product into the hands of customers. This includes everything from materials and labor to packaging, labeling and shipping.
You can outsource shipping, storage, and customer service by participating in the Fulfillment by Amazon program. But it will cost you dearly, so weigh the options carefully.
How much does it cost to sell on Amazon?
Amazon’s pricing structure depends on the type of seller: private or professional.
Individuals pay 99 cents, plus a referral fee based on product category, for each item sold. Those who sell multimedia products, such as books, DVDs, and video games, also pay variable closing costs for each item sold. Amazon’s shipping rates apply to all personal sales.
Professionals pay a monthly subscription of $ 39.99, a per-article referral fee – which varies by product – and a closing fee on multimedia articles. For these sellers, the site’s shipping rates apply to multimedia items only.
They also have access to more product categories than individuals, can run special promotions, and are eligible for top placement on product detail pages. Amazon recommends the subscription program for those who plan to sell more than 40 items per month.
As a private or professional seller, you will likely need to meet Amazon’s A-to-Z Guarantee. This means that you might be required to refund, including shipping costs, if a customer is not happy.
So incorporate some financial leeway into your business plan. Another important consideration is taxation. As a seller, you are considered a self-employed person. So even though Amazon usually calculates sales tax on items, you will likely need to set aside more money to pay. estimated quarterly taxes on your income.
How to Make Money Selling on Amazon
Once you know all the costs involved, research the prices of similar items. This will help you establish competitive prices for the items.
To maximize your income, consider finding a cheaper supplier to save on production costs or using search engine optimization tactics, such as using relevant search terms in your posts, to achieve new customers.
Other Ways to Make Money Online
If Amazon isn’t for you, consider these other sites for extra income: