Amazon earns approximately $895,000 in revenue every minute. Expertise in eCommerce is not a prerequisite for capitalizing on Amazon’s lucrative platform. So, how to make money on Amazon?
You can earn money on Amazon mainly by:
- Selling products
- Taking advantage of support opportunities
- Becoming a partner or influencer
- Getting a job at Amazon
For a comprehensive understanding, please peruse our detailed enumeration of 8 methods to generate income through Amazon provided below.
How to Make Money on Amazon?
Amazon sellers might earn a few hundred to thousands of dollars monthly. Good product research and strategy separate high earners from low earners. If you pick the right market, selling on Amazon could become your main source of income. Earning thousands monthly means you can depend on Amazon. Later, this income could help start other businesses.
Here are 8 methods to make money on Amazon:
1. Sell your own private-label products on Amazon
Selling private label products on Amazon is the best way to earn money in 2024, according to Brian Connolly is an Amazon seller e-commerce expert. It’s done through their Fulfillment by Amazon (FBA) service. About 54% of Amazon sellers use this method.
Private labeling means manufacturing an existing product, often with improvements, branding it as your own, and selling it. This strategy, also known as white labeling or brand creation, is widely used in retail. For example, Target has its Mainstays brand, and Walmart has Great Value.
Amazon’s FBA helps you deliver products quickly, usually within two days under Amazon Prime. This allows e-commerce business owners to offer their products on Amazon and profit from sales.
Amazon simplifies private labeling with these steps:
- Estimate Sales: Use a tool like Jungle Scout to predict your product’s sales on Amazon.
- Source Products: Find and make your products easily with Alibaba’s Supplier Database.
- List on Amazon: Once your product is ready, list it on Amazon with FBA. You won’t have to handle shipping since FBA does that for you. Alternatively, you can choose to ship products yourself with Fulfilled by Merchant (FBM).
2. Sell wholesale goods on Amazon
Selling wholesale on Amazon is like Private Label, but you buy products in large amounts to sell them again. You sell products made by other companies, so there’s no need to make or brand the products yourself. It’s a very popular method of earning money on Amazon.
3. Publish your own books on Kindle Direct Publishing
With Amazon Kindle Direct Publishing (KDP), you can publish books on Amazon yourself. You can also print physical copies of your book. To be successful, you often need to write a lot of books. Jeff Carson, author of the best-selling David Wolf series, quit his side job after publishing 5 books. Sometimes, one or two books become very popular, but usually, writing more books means earning more money. If you’re not good at writing or don’t have book ideas, you can still earn with KDP by making simple books like journals, coloring books, word searches, and planners.
4. Affiliate Marketing
Make money with your blog or website by joining the Amazon Associates program. Tell your friends about a product on Amazon. If they buy it, you get a commission. It’s easy. You just need a blog, website, social media, or even email/WhatsApp groups. Choose products that match your content. This way, you can earn money from Amazon without selling anything yourself. You could get up to 10% in advertising fees when people buy things.
Promote items that match your blog or website theme. If you discuss health and lifestyle, for example, suggest yoga mats or gym gear.
You can also promote Amazon services like Prime and Audible.
5. Work From Home as Amazon Customer Service Associate
Amazon is growing into one of the world’s biggest employers. Many employees don’t work at Amazon’s offices; instead, they work from home. However, these remote jobs are not offered everywhere. If you’re suitable for the job, you might be able to get a ‘work from home’ position with Amazon. Various roles are available, including customer service representative positions for bilingual individuals and other jobs like technical trainers and cloud technology account managers.
6. Amazon Flex: Deliver goods for Amazon
Amazon runs its own delivery service. The company’s same-day delivery has increased the demand for delivery drivers in many big cities. You can become a driver for Amazon through the Amazon Flex program. It’s easy to join. You need a smartphone and your own car to deliver packages. Amazon Flex pays drivers $18 to $25 per hour for shifts that usually last five hours. To start, download the app and fill out a short questionnaire. You can begin earning money if you’re accepted.
7. Sell handcrafted items
You can start an online business if you are skilled at sewing, woodworking, or another craft. Amazon Handmade is a marketplace for crafters to sell special items worldwide. Joining this program means you don’t pay a professional selling plan fee and will get extra benefits as an artist. You can:
- Find out how other crafters have made businesses from their handmade items on Amazon.
- Learn to put up your first handmade product for sale easily.
- Discover ways Amazon Lending might help finance your business.
Before you venture into Amazon handmade, you need to know that Amazon is not the best platform for a handmade business to thrive, according to Deb, Handmade Business Expert.
8. Sell with Amazon Merch
If you have a design for custom t-shirts or coffee mugs but don’t want to pay to make lots of them, Merch by Amazon can help. This service prints your designs on demand. Just upload your design, choose the product and colour, and Amazon handles making it, packing it, sending it out, and dealing with customers. You get paid royalties for each sale of your design.
There’s no cost to start. But you must apply, and right now, you need an invitation to join the program.
6 Strategies to Drive E-commerce Sales and Make Money on Amazon
After choosing how to make money on Amazon, you can pick from many simple online selling tactics to expand your business.
Build Your Own Brand
Creating a unique brand on Amazon can set you apart from the competition. Start by developing a strong brand name, logo, and a consistent theme across your product listings. Ensure that your packaging is professional and reflects your brand identity. A well-established brand attracts loyal customers and commands a higher price point.
Set Competitive Prices
Pricing is a critical factor in driving Amazon sales. Research your competitors and understand the market demand to set competitive yet profitable prices. Utilize Amazon’s pricing tools to stay updated and make adjustments as needed. Remember, the right price can attract more buyers and increase your chances of winning the Buy Box.
Optimize Listings to Connect with More Shoppers
Optimization is key to increasing Amazon’s visibility. Use relevant keywords in your product titles, descriptions, and bullet points to improve search ranking. High-quality images and detailed product features can enhance the shopper’s experience. Also, encourage satisfied customers to leave positive reviews to build trust with potential buyers.
Cross-Sell, Advertise, and Offer Special Deals
Leverage Amazon’s advertising options to promote your products to a wider audience. Consider cross-selling by recommending related products on your listings. Offering special deals, discounts, and promotions can also incentivize purchases and help move inventory faster.
Experiment with A/B Testing
A/B testing allows you to compare different versions of your listings to see which one performs better. Test various elements, such as images, titles, and descriptions, to find what resonates best with your audience. Use the data collected to refine your approach and improve your listing’s effectiveness.
Engage Your Audience
Building relationships with your customers can lead to repeat business. Communicate regularly via follow-up emails, request feedback, and address any customer complaints promptly. An Amazon storefront can tell your brand story directly, while social media can drive traffic directly to listings created for sale by your brand and build community around it.
By following these strategies, you can expand your sales on Amazon and create a successful e-commerce business. Be flexible, continue learning, and keep looking for ways to improve customers’ shopping experiences.
Final Thoughts
Earning revenue through Amazon necessitates meticulous research, dedicated effort, and occasionally, an upfront capital investment. Nevertheless, given its extensive clientele and diverse array of programs, Amazon provides numerous avenues for generating income. Entrepreneurs, authors, and freelancers alike will find that Amazon presents a plethora of opportunities. We encourage you to investigate these alternatives thoroughly to identify the one that most closely aligns with your professional competencies and personal inclinations.
When you’re ready to broaden your earning horizon, visit other Amazon affiliate programs or check out the retail affiliate programs section. To receive the latest updates about affiliate programs, follow us on social media:
