We hear about Amazon an awful lot these days. This company remains one of the largest and most powerful e-commerce retailers on the planet. While it may be easier to just dream about having the kind of money that Amazon makes, wouldn’t it be more fun to have a piece of that pie for your own business?
It may seem too good to be true, but we’re here to prove you wrong! If you want to learn how to make money with Amazon, here’s an in-depth guide to make it happen.
1. 6 Ways to Make Money with Amazon 2. Join the Mechanical Turk Program 3. How to Make Money with Amazon Wrap-Up
6 Ways to Make Money with Amazon
Amazon isn’t just an online shop where people can buy essential items and other luxuries. While this may be one of the company’s main streams of revenue and what they are best known for, there is plenty more to discover.
The company owns a number of different subsidiaries, with brands that we all know and have probably used in the past. Some of these include:
Additionally, the e-commerce giant owns several apparels and product brands that sell through the Amazon platform.
As you can see, there are plenty of things that Amazon does. This means that there are even more ways that you can learn how to make money on Amazon! Let’s dig a little bit deeper into how you can earn something, too.
1) Start Affiliate Marketing
We love to talk about the power of affiliate marketing over here at We Are The Curious. This has always been one of the biggest and most reliable ways to earn money online, and with Amazon, it couldn’t be easier. As a reminder, affiliate marketing is where you promote another company’s products to your audience and make money each time one of them buys because of you!
Amazon allows you to promote products via its Amazon Associates program. Through this platform, you’ll share links to products listed on the retailer, earning a commission or referral fees whenever somebody purchases through the link you post. Yes, it really is that simple!
To get started with affiliate marketing, you’ll want to create a website to do your promotions. This means signing up for one of the various website-building platforms like WordPress or Wix.
You’ll also need to find yourself a great hosting service. When it comes to affiliate marketing sites, we highly recommend Bluehost as a web host to keep your affiliate site secure.
After establishing your website, it’s time to figure out how to master affiliate marketing on Amazon. This will require you to sign up for Amazon Associates.
So, you’ll need to learn all of the tips and tricks to being a successful affiliate marketer, which will include installing helpful Amazon product plugins and understanding your target audience.
One of the biggest keys to this stage is learning what to sell. What do the people visiting your website want, and how can you maximize what they spend?
Earning money with affiliate marketing can take some time. You’ll have to build up a reputation of being the go-to place for product recommendations. But if you’re willing to invest the time and energy, you may wind up making up to $10,000 per month.
2) Sell Private Label Products on Amazon
As we mentioned, most of us think about product purchasing when we think about Amazon. So, why not get in on that and sell some products?
Don’t worry, you don’t actually need to make the products yourself to figure out how to make money with Amazon. Rather, you’ll sell other people’s products on the platform under your own brand! Private label products are when you manufacture products that already exist, but slap your own branding on them.
The biggest step in making money on Amazon as a private label seller is deciding which products you want to sell: kitchenware, clothing, workout gear, or even furniture? If you already have an existing presence on the internet, you may want to combine it with your niche. For example, if you run a lifestyle blog, you may want to sell home goods.
If you’re starting from scratch, you’ll want to do a bit of market analysis to figure out what is already selling well online. Tools like SEMrush help you do content marketing and competitor research with only a few clicks (you can get started with SEMrush here). In your competitive analysis, you’ll want to check out what similar content creators are selling and look at other reports to find out where the money is.
Once you’ve decided what to sell, it’s time to make it your own. This means finding a product supplier or manufacturer, similar to a third-party seller. One common go-to brand for this route is Alibaba, as they have a massive stock of products for low manufacturing prices.
Once you get your product underway, you’ll be able to list it on Amazon. You can choose to package and sell these products through your own fulfillment center or send them via Amazon’s fulfillment center.
The amount of money that you can earn with this approach on Amazon will depend on how many products you’re selling and what they’re worth. Many private label sellers earn $1500 per month or more doing this!
3) Use FBA to Ship Your Own Physical Products
Speaking of Amazon’s fulfillment center, you can also use Fulfillment by Amazon (FBA) to ship out your own physical products.
This route is perfect for anyone who already owns a business selling physical products or is eager to start one.
Using FBA for your Amazon money-making route of choice is simple. All you need to do is sign up for the platform itself, design your own product listing, and prepare your products! They are then shipped off to a fulfillment center, and Amazon will take them from there.
Once your products reach the fulfillment center, Amazon will ensure that the orders end up in the hands of your eager customers.
All items sold via FBA will be eligible for various Amazon perks, including Amazon Prime, free shipping, and more. This means that potential customers will be even more enticed to buy! People want items that will get to their homes quickly, and Amazon Prime is easily the best place to go for this.
However, there are a few fees to consider when taking this route. To start, you’ll have a selling plan in place with Amazon. You can either pay $0.99 per unit or $39.99 per month for unlimited units sold.
You will also need to forfeit Amazon’s referral fee. Depending on your product, they’ll take between 8% and 15%. This is sacrificed to have your products be sold in such a secure manner and with the name recognition of Amazon.
Additionally, you’ll need to pay fulfillment fees. This is for the cost that Amazon takes on shipping, labeling, packing, and storing your product. The cost for many small products is less than $5 and can be considerably lower if the product is very light.
Other costs, like inventory fees, high-volume listing fees, and refund administration fees may also pop up. Fortunately for you, these all mean that the customer service work you’re taking on is minimal.
Using FBA as a method of how to make money with Amazon may sound like a costly choice. And while it does have more upfront costs than most ways of making money, it also has some of the greatest earning potential! Making $1000 per month is not at all uncommon, and many sellers can earn up to $300,000 per year!
Ultimately, this will depend on things like the product category and advertising spend, but it’s a great opportunity if you have physical products to sell.
4) Sell Books on Kindle Direct Publishing
Amazon has grown quite a reputation when it comes to books. With Goodreads, Audible, and more, many people rely on the platform to find their latest read.
Many writers imagine selling their first book the hard way. This is by finding a literary agent, who will then find a publisher, throwing your book into a years-long process of publishing it to their perfection. And for many writers, we might not make it past the first stage. Surely, there has to be an easier way? Well, Amazon made one.
Kindle Direct Publishing is the go-to platform when it comes to how you can make money with Amazon. After you’ve written a novel, designed a cover page, and ensured that it’s reader-ready, it takes as little as five minutes to upload it to Kindle stores via Amazon.
In most countries, you’ll be able to earn up to 70% of your royalty sales. You also get to control your prices and change the price as you desire.
This is a fantastic way to earn a passive income. Once you’ve written and prepared the book for sale, your work is mostly over! You can self-publish and watch the royalties come in for years to come.
The toughest part of this option of making money is the actual creation of your novel. Do you want to write a fiction story, a cookbook, an illustrated children’s novel, or any of the hundreds of other genres?
Whatever it is, you’re sure to have a fun and challenging road ahead with editing, advertising, and more. Fortunately, millions have been in these shoes before you, and have gone on to share valuable insights with their fellow writers! There are dozens of lessons available on Skillshare for you to learn the ins and outs of book writing.
It will also be important to treat yourself like your advertiser in this situation. Since you don’t have a traditional publisher to do the work for you, you’ll take this into your own hands to get the word out about your new book.
Writers can earn a lot from self-publishing – up to $500 per month (per book) is not uncommon. If you have the energy to continue putting out novels, you could be making thousands per month in no time!
5) Buy and Sell Products for Retail Arbitrage
Are you a guru of thrifting? Do you have an eye for digging out sale items? Well, then re-selling those products could be making you some serious cash!
Retail arbitrage is when you find products, buy them, and resell them online. This can be done by buying clearance items in bulk, finding unique items at thrift stores, or similar methods of savings.
Imagine that you head to your local hardware store and see that they ordered too many light switches. These switches would normally cost $20, but they’re willing to sell you 50 of them for $10 each. You could take those, upload them to Amazon for $15 each, and come out with a profit of $250. Bringing this out on a larger scale can bring in a lot of money.
Some sellers are also able to develop close relationships with shop owners. You may be the first to know about upcoming sales, or be informed of those “we ordered too many by mistake” prices before anybody else!
This method of selling has been known to work for plenty of reasons. First of all, many people don’t have the drive, energy, or product knowledge to go digging for the best sales. When they need a product, they need it right away. Amazon can do that for them!
Additionally, not everybody has access to places that sell things at such great prices. Perhaps you’re finding items at a local hardware store that is local to you but not to the common Amazon shopper. No matter what the reason is, if you can sell it for a profit, you can walk away richer.
On the flip side, you can also buy cheap products on Amazon and then sell them for profit elsewhere. Many people who own their own thrift stores or hobby shops will take this approach.
No matter which angle you take, you will need to keep in mind that there is always the possibility that items won’t sell. If so, it’s important to have a backup plan about what you’ll do with the products. Are you willing to part ways with the product and sell it at the same price you paid? Or does your original purchase come with a refund policy?
Retail arbitrage can get you money quickly. But ultimately, it all depends on your ability to find cheap products. With a solid retail
arbitrage strategy, you can earn $500 or more per month, with a high-end earning potential that is more than five times that number!
6) Join the Mechanical Turk Program
The Mechanical Turk program (MTurk) is a lesser-known way of how to make money with Amazon. This is a crowdsourcing marketplace where people can outsource jobs to people in order to have them performed virtually.
Many of these tasks include:
Similar to other platforms like Fiverr or UpWork, The MTurk program is a way of finding people to do jobs. This means that people like you who have the necessary qualifications can get paid to do them! This program also has advanced rates for people holding premium qualifications, meaning that the earning potential is often higher than on competing platforms.
To start making money, you’ll just need to open a Worker Account. This is done by signing up for your regular Amazon account and choosing the jobs that suit you.
You can earn as much or as little as you’d like with this program. If you’re only eager to invest a few hours per month, you can expect to make $100-500.
However, you can also work as often as you can find jobs with this opportunity and start bringing in a four-figure amount every month!
How to Make Money with Amazon Wrap-Up
As you can see, there are plenty of ways that you can learn how to make money with Amazon. It can be intimidating to hear just how much this company is worth (literally more than $1 trillion!), but that doesn’t mean some of the money can’t go to online entrepreneurs like us!
To summarise, there are quite a few ways you can make money through Amazon. They include:
Using affiliate marketing
Selling private label products
Selling your own products
Using retail arbitrage strategies
Selling books on Kindle Direct Publishing
Using the Mechanical Turk Program
The best part of this in-depth guide? There is no limit to the ways you can learn how to make money with Amazon. So, go write an ebook, sell your own products, and use Mechanical Turk on the side – and see your income go way up in no time!
One of the things that we love most about making money online is that the sky is the limit. You can put in minimal work for a bit of extra spending money, or develop various streams of income and make enough to pay off your mortgage!
No matter what your goal is, you can learn how to make money with Amazon and accomplish it!
Post by: www.wearethecurious.co