Do you have a Fulfillment by Amazon (FBA) business? Do you want to expand it and take it to the next level? If you answered yes to those questions, you have come to the right place.
Keep reading to discover tips for growing your FBA business into a thriving enterprise that may even allow you to quit your day job.
1. Get People to Leave You Reviews
Getting product reviews can be a real challenge. However, they are vital because they can help others discover your products and may even contribute to your best-seller rank.
You can encourage buyers to leave reviews by sending out an automated thank you message after they make a purchase. The email can ask buyers to leave a review if they enjoyed your product. Sometimes, people just need a reminder to leave a review.
If you are having trouble attracting product reviewers on your home, you may want to enlist the help of a tool. Feedackwhiz comes highly recommended, according to Project FBA, because of its product review boosting features.
Don’t Ignore Negative Reviews!
Once you have some reviews, always keep an eye out for negative reviews. While one negative review might not seem like a big deal, it can hurt your business image.
Additionally, if you get in the habit of letting these slide, you may start paying less attention to detail in other parts of your business, which will not help you become the best of the best.
2. Track Your Progress
You will not know which areas of your business you need to improve if you do not understand how your business is currently. Take a look at your return on investments, cash to cash cycles, and more. Is your business actually doing as well as you think it is?
Sellers must know their numbers. It’s the only way to see how you stack up against market norms and competitors.
3. Expand Internationally
If you have seen success in the United States, it may be time to bring your products to more markets worldwide.
Amazon now sells to 13 global marketplaces. It reaches extensive markets of untapped potential, waiting for you as you are looking to expand your operations.
4. Make Prices Competitive
If you are not doing as well as you would like compared to your competitors, you may want to look at your pricing.
Online shopping makes it extremely easy for your customers to check products’ prices from multiple suppliers in just a few minutes. Therefore, you need to make sure that your price is in line with other similar products. Otherwise, your customers will likely go for the cheaper option.
5. Sell Something You Are Passionate About
Some people sell products that they do not like or do not care about all. This move is risky.
Even if it is profitable, the odds are that you will not be as dedicated to your business as if you were selling something you truly appreciated.
Additionally, if you are selling a product that you are knowledgeable about, you will likely have an easier time creating the relationships you need to succeed. You may even have an easier time hiring people that share your passion if you get to that point.
An FBA business is a fantastic way to make money. However, it still requires a lot of work. Only those who put in the time and effort will be the most successful. It would be best if you were continually looking for ways to improve and expand. Hopefully, the above tips will give you a place to start so that you can reach your goals in no time at all.