Hey Everyone! Welcome back to another blog post.
Today I’ll be sharing 3 tips that I NEED you to know before embarking on your Amazon FBA journey.
Let’s get right into it.
IT’S A SLOW PROCESS!! BE PATIENT!
To be honest, when I first started posting about Amazon FBA on Tiktok & Instagram, I was surprised at the number of comments claiming this was a get-rich-quick scheme and that it doesn’t work.
In my opinion, it most probably hasn’t worked for these people BECAUSE they think it’s a get-rich-quick scheme.
When you start an Amazon FBA business it’s basically like you’re starting your business on any other platform.
The only difference with Amazon is that it’s the BIGGEST online marketplace in the world right now and it works as a search engine. So there are ALREADY millions of people searching for your product and looking to buy it.
Now that doesn’t mean that you will instantly get plenty of sales after listing. With plenty of demand comes PLENTY of competition.
And this is why I recommend starting on Amazon FBA with one product at a time. Getting your product up and running takes effort.
From influencer marketing to content creation to growing your social platforms and creating a brand. This takes time.
So my one tip for you is to have PATIENCE and be PERSISTENT. I always say the #1 deadly mistake most Amazon sellers is they quit too early.
KNOW YOUR NUMBERS!!
I was watching an episode of SHARK TANK the other day, and an entrepreneur came on that started an Amazon business with just $300.
The jaw-dropping thing is that now he’s at almost $8 MILLION in sales!! I was amazed and super excited for this entrepreneur until he stated that he is only profiting 20%.
Now even though that isn’t TERRIBLE with Amazon, I always say you should take home AT LEAST 25% of your sales as profit.
This can only happen if you know your numbers. No matter how much you sell on Amazon, if you don’t know your numbers you’re going to THINK you’re doing great while actually, you’re stuck in the rat wheel of constantly having to pump more money into the business and not being able to take out anything for yourself.
Make sure that your LANDED product cost is only 33% of your goal selling price.
DON’T START PPC WITHOUT REVIEWS
This one is a tip that I feel like I CANNOT stress enough. In my opinion, if you aren’t willing to promote your product outside of the Amazon platform, you shouldn’t start an Amazon FBA business.
Keep in mind that PPC is one of the most expensive ways to push your product to the top, and the only way it will help your rankings is if customers see it at the top of the page, click on it, and BUY your product.
Now, the reason why I say do NOT start PPC before you get enough reviews is because an Amazon customer will most likely go for a product that has 1 review over a product that has 0 reviews.
Customers like to know that others have tried it and LIKE it before they make their purchase.
If you instantly start with PPC, you’ll be throwing away a lot of money that can be allocated elsewhere in your business.
Now I’m not saying avoid PPC completely. My point is to wait until you have at least 50 reviews before you start exploring that marketing channel.
I hope you found these tips useful!
P.S. I have a free live training on how to successfully start your Amazon FBA business. You can sign up here.
Until next time,