How do you maximize your revenue on Amazon fba? To cut the long corners short the question should be is it possible and how is it don’t? Here I will try to explain things you should and can do to maximize your revenue. Below are tips to follow to help you grow your revenue significantly as an Amazon seller.
Tip #1: Buy Low Sell High
When selling on Amazon buying costs can cause your revenue to fall. As an Amazon Seller making money is the goal. The good thing about selling on Amazon is you can play with the price of the product. To get started first bargain for a good price from the supplier then calculates the cost of shipping. Put all these together to come up with the selling price. Make sure when calculating separate the Amazon fees, purchasing fees, and any other fees from your profit.
TIP# 2: Calculate
When adding the price simply add a figure for then watch to see what the fees are like for that figure. On your Amazon Sellers dashboard, you’ll see the fees for Amazon fba. Here it will not tell you the balance only the fees that will be taken are shown. It is now your job to do some subtractions to find out your profit. If the profit does not suit you go ahead and play with the price a little bit more. Keep in mind that you can either take up the price or bring it down while keeping it competitive.
Tip # 3: Make Your Price Competitive
Pricing on Amazon can be competitive. However, if the price is too low the fees will eat your profit all up. So how do you manage this? It’s all about conquering your competitors. Let’s say you are selling something that has a lot of other sellers, taking down your price a few cents will make a big difference. Believe it, yes or no, buyers will see it. On the other hand, Amazon is a place where sometimes the price doesn’t matter as each buyer is there looking for a specific product and if your product is it then you have the purchase.
Tip # 5: Sell More Products
To up your revenue you’ll need at least 4-5 good products that sell well. If you manage to find 5 products that sell simply combine all the profits and there you’ll have a passive income. The truth is just selling one or two products may not cut it unless you hit the jackpot with a product that goes like the wind. If you heard that one product works then it could be because that seller has over a thousand.