FBA stands for Fulfilled by Amazon. This simple business model allows you to sell goods through one of the biggest online marketplaces in the world – Amazon – without having to manage the logistics and shipping yourself. The process works as follows:
- Source a supplier for your product.
- Ship your product direct from the supplier to Amazon warehouses.
- Keep your products housed in an Amazon-owned warehouse.
- When someone purchases your product on Amazon, Amazon “ fulfills” the order; they handle logistics, shipping, and customer service.
One of the main bonuses of this model is that, as Amazon takes care of order fulfillment, you can focus on building your business and gaining more customers. Here, we’ll be looking at a few quick tips and tricks to help you quickly grow and improve your FBA business in 2020.
1. Strategize Your Advertising
The right marketing for your products will help you increase sales quickly. You may consider using social media advertising and promotion (such as Facebook ads), as well as Google ads.
One thing to make sure you don’t miss out on is the offer of ‘Sponsored Products’ campaigns on Amazon. With the help of Amazon, you can make your product listings more visible. You can choose how much money you want to spend on this and still get to make use of the keyword-targeted ads. As you only have to pay out when shoppers click on your sponsored ads, it’s a low-risk opportunity and could drastically extend your reach.
2. Offer Amazon Prime
According to Statista, there are more than 103 million Amazon Prime subscribers in the US alone – making it a great market to tap. Prime members get exclusive next day delivery options, and they are one of the most active and devoted audiences on the web.
You’re likely to see a jump in your sales if you opt for Prime. Having the option of the quick sell gives you the edge over competing products, and customers are more likely to return to you.
3. Use Web-based Tools
There are numerous web-based tools out there to help you improve your FBA business in 2020. From revenue calculators to fees management tools, there are plenty of options for Amazon sellers. It’s crucial to do your research and only invest in tools that will further your strategy, so think about what will be most helpful to your business.
If you sell multiple products on Amazon, you may consider tools that enable you to find your next product. These apps use metrics and data to help you choose the best product for you to sell. Capitalize on offers for these kinds of tools – like this Jungle Scout coupon – to make the most of software and apps available.
4. Go Global
Many FBA businesses still focus on their home market, leaving a broad and varied potential customer base untapped. Yet, with just a couple of clicks, you could sell to customers around the world, increasing your client base by thousands.
On Amazon, there are 13 global marketplaces through which you can sell. Either uses Amazon Global Selling to fulfill orders from international buyers or sign-up in each of the marketplaces that most suit you. Better yet, when you use FBA, you get lots of help from Amazon’s built-in support services for global sellers, including on taxes and customer support.
If you are looking to grow your FBA business this year, consider implementing some of the ideas listed here. Many of them are quick and easy solutions and could vastly expand your customer base!