Finding new and innovative ways to make money from home can be a fun and rewarding concept. Did you know that you can actually make money from Amazon in numerous ways?
Alongside selling products, Amazon proves ways that people can build revenue as well and this post explores the best options available currently.
Affiliate Marketing
Affiliate marketing is a strategy you can use if you have an online presence. You might have a blog, an Instagram profile, or a website with lots of traffic and lots of followers, which means that you have some sway in influencing people’s opinions and buying habits.
You can use your online medium, whichever that happens to be, to create links and recommendations to different Amazon products, therefore, advertising them on your platform. This can be anything that might resonate with your followers.
Of course, the more relevant the product, the more chance that a sale will be made. Every time someone buys something you endorse you get a cut of the profit. What you actually earn varies from item to item. It can be as little as 2% and as high as 11%.
Also Read: 10 Passive Income Ideas Which Works Really
Sell Your Products – Amazon Handmade
If you have a small craft business or a handmade product that you sell online, you can do this through Amazon Handmade. If your goods are made by hand, there are no selling fees to pay as opposed to a regular sales account, which has a monthly subscription cost associated with it. You will have a sale fee if your products hit a certain amount of revenue, which normally caps at around 15%.
There are other platforms available for sellers, but Amazon is one of the most recognized brands in the world and it is easier to publicize your products and capitalize on them because it has the most traffic. You can even get your own brand name as a URL so that you can advertise and be found more easily by potential customers.
Publish a Book on Kindle Publishing
If you are an author, you can publish your work through Amazon on their Kindle platform. This requires marketing and promotion on your part to secure sales and readership. However, if you put the time in it can really pay off.
It could even be a way to become more established in the world of writing and create a loyal fan base for your work. 70% of the total sales go straight to you.
FBA Program by Amazon
Through the FBA program, you put your trust in Amazon warehouse services. Your product is stored in one of the many Amazon facilities and, if purchased, gets sent out for delivery without any effort on your part.
This is a rewarding bandwagon to jump on as the world moves more toward e-commerce than ever before. You will need a way to set yourself apart from other sellers, for example, by offering Prime Delivery. There are also opportunities to make money through selling and investing in other FBA businesses.
Amazon FBA businesses are attractive investments for people looking to purchase a turn-key business. If you later decide to sell the business, it is important to learn about setting a fair market value to make the most profit from your venture.
Sell Wholesale
If you choose to sell wholesale, you will probably still do it through the FBA program. However, there is a bit more to it than selling your own products. To sell wholesale means to sell staple items in bulk, usually with a noticeable discount to entice the customers in. This is normally done through the sale of branded products procured from other sellers, thus creating a partnership of sorts with a mutually beneficial conclusion.
You will need a license to do this, so make sure you have done the necessary admin before you get going! To make the most money from wholesale, you need to have your own space and not rely on Amazon to store products. The sheer quantity of products required to create a profit is more than you would expect.
Become an Amazon Influencer
Amazon influencers may sound like a weird concept, but it works. This is geared towards social media users with a high number of followers. If you have a strong presence on YouTube, Twitter, Facebook, or Instagram, then this could be a viable option for you. Much like affiliate marketing, you recommend and promote products sold on Amazon, preferably directly.
Then, if there are any takers, you get a nice piece of the money from the sale. If you don’t have thousands of followers, that is not so much of a problem here. Amazon wants people with influence online, not just people with the right numbers. Influence means a relationship with your following, and one that you can show diverts their decisions from what you promote.
Retail Arbitrage
If you like to find a bargain in a store, then you should consider retail arbitrage through Amazon. This is repurposing bargained products that have been heavily discounted or purchased with a coupon. So, you saved money buying it, and you then go on to re-sell the item on your Amazon page.
Online Arbitrage
Online arbitrage applies the same principles as the point above, but you never have to leave your house. This method uses the internet to scour for deals and cheap reductions. Once you have secured a product you can then mark it up and sell it.
This method can provide an income fairly rapidly as you can buy things quickly and sell them as soon as they come through the door. You will have to take time to correctly display the product online, as you don’t want to mislabel or mislead anything or anyone.
Also Read: 5 Simple Ways To Make Money Online
Conclusion
This list highlights all of the best ways that you can make your fortune on Amazon in 2022. There is a good selection of ways in which you can sell your own products and those of other people. It’s not just selling though; you can also promote products and reap profits without much effort.