Here are a few mind-blowing facts about the Amazon marketplace that will make you want to join:
- For every $10 Americans spend online, $4 goes to Amazon.
- 64% of American households are members of Amazon Prime. This translates to an estimate of 80 million people.
- 19% of Millennials are Amazon Prime members.
- 44% of online shoppers go directly to the Amazon website.
- 30 million people are using the Amazon mobile application.
While statistics don’t lie about the retail giant’s success, these numbers would seem like a mere legend if told many years back. This is likely the reason why there are fabricated stories about selling on Amazon. After being passed from one person to another, these stories started to sound like the truth.
Don’t fall for these traps lest you compromise this income opportunity. Check out these 5 common myths about selling on Amazon:
It’s too late to be an Amazon Seller – the place is too crowded.
This myth may have a logical reasoning behind it. After all, there are now over 2 million Amazon sellers from around the world. What chance do you have of standing out?
As it turns out, you have plenty of chances if you’re serious about your business. Remember that every successful seller started out as new. Arguably, some of them may have been with the company long before it expanded to the retail giant that it is today. Still, there are veteran sellers that have been replaced by newer ones. The reason? Marketing and selling skills combined with a knack for knowing what will turn out as the best-selling products on Amazon.
You Can Just List It and Forget About It.
The number of people who have joined Amazon, listed their products, sat back, and did nothing could number in millions. There is no way to find out because this kind of business dealing isn’t cut for Amazon – or any type of business for that matter.
Competition, customer service, proper sales transaction – these are just the top reasons why you need to exert effort and time after you’ve listed your products. Study and practice what needs to be done so your products will make it to the first page of Amazon search results, know the technicalities of selling in the website, and learn the techniques of winning and keeping customers. Like other business or endeavors that are worth pursuing, you need to invest time and hard work if you want to succeed.
Selling in Amazon is Complex
Besides the rules that you need to follow and the restrictions pertaining to products you’re allowed to market, Amazon has made online selling quite simple.
In fact, the virtual marketplace is the safest, easiest place to do retail business. The Fulfillment by
Amazon program has taken off a huge load of the order fulfillment process from sellers. For a reasonable fee, you no longer have to worry about responsibilities such as shipping and call-answering.
Winning Repeat Customers is Impossible
It’s easy to get disheartened by the millions of competitors around you. Surely, with a wide array of choices before them, customers won’t patronize a single seller.
This boils down to your marketing skills and how you handle a transaction. Is a buyer dissatisfied with the product? De-escalate the issue before it blows up into a disaster. Was a transaction successful? Ask the customer to leave a rating or feedback. Remember that with tough competition all around you, word-of-mouth through customers’ testimonials is your strongest leverage.
You Don’t Need an Amazon Seller VA (Virtual Assistant)
Nervous excitement and the passion to be on top of everything make sellers want to handle things on their own.
You might find a way to make it work at the early stage of your business, but if you want to expand and double your revenues, you need to embrace outsourcing. Hire an Amazon seller VA to help you with administrative tasks, marketing, and customer management. You’ll be surprised by how much focused you’ll be in accomplishing your goals.
Now that you’ve debunked the 5 common myths about selling on Amazon, you’re on your way to better business management. What deals do you have in store for customers?
Catherine vanVonno, the author, is the President and Executive Director of 20Four7VA, a global Virtual Assistant (VA) Service Provider. She holds a doctorate degree in Applied Statistics, Research Design and Program Evaluation from Virginia Polytechnic Institute and State University and has over 10 years experience in facilitating evidence-based strategic planning, product development, brand management, legislative communications, and medical policy. She is married and has four children. You can reach her at firstname.lastname@example.org.