The key to a successful Amazon business is scalability. You might have a best-selling product, but how do you take your business to the next level? You need to consider not just how many products you are selling but how much profit you make on each sale. This guide will teach you how to scale an Amazon selling business.
Create your own eCommerce store
If your product is successful on Amazon, it stands to reason that it should be successful elsewhere. Once you have loyal customers, they might be encouraged to buy directly from you instead of going through Amazon. For this, you’ll need your own eCommerce store. As an Amazon seller, you aren’t allowed to direct people away from Amazon, but you can make it easy for customers to find you on their own.
Optimize your warehouse management
If you’re successful on Amazon, you are probably using Amazon FBA. You can’t change the way Amazon stores your products once they are in the FBA warehouse. However, you can optimize your own warehouse management. Consider a lean warehouse management approach to reduce storage costs and increase profit.
Use paid advertising
Amazon Advertising allows you to sit at the top of the Amazon search results. This could drive more sales for each product and increase profit. You can also use Google Ads, and other paid advertising services to increase traffic to your own eCommerce store. Be warned, though, paid advertising requires regular monitoring and optimization if you want it to be successful. It might be worth hiring a PPC ad specialist to monitor your paid ad campaigns.
Launch multiple products
Many Amazon sellers start off with one product. However, if you want a successful Amazon business, it’s important to launch multiple products. Diversifying your product range will protect your business from the competition and increase your profits. You should spend some of your profit on researching and developing new products to add to your range.
Add product variants using Child ASINs
One way to maximize the profit of a product on Amazon is by adding product variants. This could include different colors, different sizes, and more. These are called Child ASINs because they come under the main ASIN of your product. Adding product variants can increase conversion on your product page and help it climb the search results. However, the only downside of product variants is that you will have to keep more stock in your warehouse.
Move into other Amazon marketplaces
Amazon FBA makes it easy for sellers to move into other Amazon marketplaces. If your Amazon business is based in the USA, you can easily sell in Canada, Mexico, and even Europe. Of course, you will have to pay more in shipping costs to these countries. But, if you have a super successful product in one country, you might be able to replicate that success in other marketplaces. Be sure to do your research before moving into another marketplace – if there is no demand for the product abroad, it could be a costly mistake.