So it’s been quite a while since you became an Amazon seller. You know your way around, launched an in-demand and less competitive product, and are making a killing.
But like any other ecommerce seller, you want to scale your business from where it is today.
Most sellers question how to take their business to new heights while somehow reducing the workload. Fortunately, boosting your Amazon FBA business can be less painful through smart work.
Stick around to learn the ropes of skyrocketing your FBA business.
Efficient Ways to Take Your Amazon FBA Business to the Next Level
Fulfillment by Amazon (FBA) allows you to outsource the order fulfillment to the marketplace. You send the products to the FBA center, and when a customer places an order, Amazon picks, packs, and ships the order.
The result? You have more freed-up time as a seller and can utilize it to scale FBA business. Around 66% of the top 10,000 Amazon sellers use FBA to enjoy greater convenience and increased revenue.
If you do, too, here’s how you can use this feature in your – and your business’s – favor.
Introduce More Products
Now that you’re already selling products in a particular niche, you understand the customer psyche pretty well. Why not use it to cater to their needs and build brand awareness?
Nonetheless, you must select new products carefully. These items should intrigue your customers to begin with.
Luckily, searching for related information is straightforward. Visit Amazon and check out:
- Your competitor’s store
- Product sub-categories within your existing category
- “Customers you bought this also bought.”
- “Products related to this item.”
Next, proceed to check on the supply and demand. Choose the products that have more potential to add to your revenue and are less competitive. Even adding variations of popular products you’re selling now is a smart first step.
Furthermore, you must go above and beyond to source high-quality products. This may require you to order product samples to gain first-hand experience and gauge the supplier’s competency.
Add Product Variations
If the idea of introducing new products doesn’t intrigue you, consider launching product variations. That’s right; product variations improve the customer experience and increase sales.
Why? Because not all customers are interested in purchasing the same variation. For instance, if you sell a pair of sneakers, not all buyers would prefer the color white.
How can you encourage them to take a look at your product? By introducing variations.
If you have never thought about launching product variants, now is the right time.
Take a look at competitors’ stores and see which variations they sell. If their product variation is performing well, try evaluating the customer preferences.
From here, you can learn which variations are well-liked among your consumers. This will keep you from introducing product variations the customers would not be intrigued to purchase.
Lastly, we recommend launching a few variations – not too many. This way, you’ll protect your money in the event the product variation fails to perform well in the market.
Include Complementary Products
Complementary products refer to items that are bought with the focal product. Both items are used together. While complementary items offer little value or cannot be used separately, people are enticed by brands offering these products. These can also be “bundled” items.
Typically, businesses create a beneficial bundle for the consumers.
Retailers carefully analyze the consumer demand and pack bundles offering value. This allows companies to increase sales and revenue.
For instance, a company selling a battery charger might offer a pack of batteries as a complementary item.
You can also create a similar hack to boost sales. It allows you to tempt consumers by offering a discount on the complementary item. Not only will your existing customers show a willingness to purchase more items, but you’ll draw in more potential customers.
However, you must read the Terms of Service before going this route. For instance, your insert card should direct visitors to purchase such items only on Amazon, not your website.
Move to Other Ecommerce Platforms
It’s great if you earned a positive reputation on the leading ecommerce platform, Amazon. It takes consistent effort and dedication to become a top seller in this marketplace. But let’s not forget that Amazon isn’t the only ecommerce channel.
If you want to build a well-rounded, thriving business, you’ll need to go the extra mile.
This would require you to diversify your business and move to other popular platforms, including Walmart, eBay, Shopify, or Etsy.
Furthermore, you need to stand on your feet and direct visitors to your website too. You might need to run paid advertisements using Facebook Ads and Google AdWords. This would mean you actually own your customer and can start building an email and SMS list by capturing all their data at checkout.
The more people see your ad, the larger audience you can potentially attract and convert.
So, Amazon offers you a massive opportunity to grow, but building a reputation outside the platform will also help you boost your Amazon business. Simply put, any efforts you’ll put outside Amazon will pay you back in the long term.
Incorporate Various Business Models
As an FBA seller, you could be following the wholesale business model or private label. If you are wholesaling, we recommend trying private labeling, and if the other way around, consider the wholesaling route.
The wholesale business model allows you to understand existing product demand without manufacturing the product yourself. Here’s how you can use varying business models to scale your Amazon business.
- Become an Amazon affiliate and promote your website products to boost revenue
- Build wholesale agreements with retailers
- Let affiliate marketers promote your products in turn for a commission
- Try out the Private Label business model by partnering with a reputable manufacturer and marketing team to launch your new branded product
Tap into the pros of each business model to diversify.
Closing Notes
If you have already experienced a taste of success as an Amazon FBA seller, it’s time to climb the ladder. We discussed numerous strategies to scale your current business and boost revenue.
However, choosing a single tactic and moving forward makes more sense than trying them all simultaneously.
If you have a unique idea that can help scale your FBA business, don’t hesitate to try it!
