This is a pretty hefty post, so for those of us who like to get to the point quickly and just want to know what actions to take, here’s a summary of the main steps to start and grow your Amazon FBA business in 2022 and beyond!
- Choose your niche – In an ideal world choose a product or products that you’re passionate about and are happy to build a brand around, plus are super popular and best-selling products on Amazon!
- Find a popular product within your niche to sell – Start with just one, trust me, one is enough. Use the Amazon bestsellers list to start your product research.
Key metrics include; product price between $15 – $50 (for decent profits), weighs under 2lbs (to keep shipping costs down), has a best seller rank of 1500 or below (a measure of good demand)
- Create your own brand name & design – Without a doubt, building brand can be a major reason for our success. Don’t let this hold you up, but get your creative juices flowing here and come up with a name and logo to help you stand out from the crowd!
- Create your seller account – Before you can ship products to Amazon, you’ll need a seller account, but don’t set it up too early as you have to pay a monthly fee for the privilege.
When you place your order for your first batch of products, get your images, listing, keywords and launch strategy prepped and then open your seller account when they’re ready to ship.
- Ship your product – For some reason, this is the stage that many new sellers find intimidating. Fear not, your supplier will help you and there are a million Amazon groups you can join to ask for advice through the process, If you are an Amazon FBA seller this part is completely taken care of.
- Launch your product on Amazon – Yippee! You’re live on Amazon! Make sure your listing looks tip-top, with great images, a compelling keyword-rich headline, great bullet points and a detailed product description. Then follow our launch strategy as below.
Cutting through the fluff, the most important factors for ranking on Amazon and growing your Amazon FBA business are high conversion rates and consistent sales velocity. From Day 1 you need to be generating daily sales. Even if it’s only 5 – 10 sales a day.
Tell everyone you know your product is available for sale on Amazon. Run Amazon PPC ads. Send your products to influencers to review and send traffic. Whatever you can do to generate daily sales. That’s your goal!
NB: Reviews are important as they contribute to higher conversion rates, which contribute to more sales!
- Build your ‘off Amazon’ audience –one of the secret to success was the marketing the products ‘off Amazon’.
The fastest way to get this off the ground is to approach influencers in your niche, with large audiences. Send them a product to review and talk about, and give them a link for people to purchase. I can’t express strongly enough how well this strategy works!
Even more so in 2022 with the number of influencers looking for brand collaborations.
I go into each of these points in much greater detail throughout this post, which I urge you to bookmark and re-read, section by section as you launch your Amazon FBA business.