The pandemic exposed some of Amazon’s faulty systems that affected its public image. Late package shipment, lack of proper safety gear for warehouse employees, and delayed processing for non-essential items were the ones that made the headlines. Keeping these faults aside, Amazon was the biggest gainer among all e-Commerce platforms. The posted record sales as people stayed indoors due to COVID-19 lockdown across the world.
So, if you are thinking of hopping on the Amazon bandwagon, you are not alone. And if you have no prior experience of selling Amazon, you are still not alone. We bring you a list of things to keep in mind before you start your business on Amazon.
Determine your products and the supply chain
Before starting, you need to determine your products and how you will acquire them. It would help if you ascertained where you will get your products from and how long it takes to reach you. Apart from this, you must also look for different supplier options and even prepare a backup plan.
Pick your brand logo.
A logo is your brand’s identity. Like working on your marketing tactics and determining how your target audience will respond, think how they will feel about your logo. In case you need help, you can always hire a logo designer to design one for your brand. But make sure you are entirely on board with the final logo design. Since you have other pressing situations to deal with, and you can’t waste too much time on it.
Get your SFP and FBA enabled
Simply listing your products on Amazon is not enough to grow your business and make some profit. You must aim for the Prime checkmark on your product. To become a Prime Seller, you get to choose between FBA and SFP:
FBA or Fulfilment by Amazon means you store your inventory in Amazon warehouses.
SFP or Seller Fulfilled Prime means you store your inventory in a third-party warehouse that Amazon approves.
Fix a marketing strategy
Even if your product is well-designed and carefully thought-out, your sales figures won’t magically climb up initially. You need to prepare a plan on how to target your audience. For example, Instagram is a good platform if you have fashion products for women. Millennial women are the biggest Instagram user, and you easily redirect the audience there to your product.
Study your competitors and product pricing directory
You must check your competitors and what they are up to. If they are getting more sales, you need to know how and why. There are several tools available online that allow you to find out more about your competition. You can use these tools to check their product ranking, PPC spendings, product pricing history, etc. All this information will help you devise your business strategy.
Starting your business on Amazon doesn’t have to be difficult, and you can do it quite easily. All you have to do is prepare yourself like you did when you started your business in general. But you have to keep certain things in mind and remember others when you do start your business on Amazon. Once you learn how to launch your product on Amazon, you can settle in and work on product marketing. And once your sales start coming in, you can work on how to get Amazon reviews.