5 Myths About Business on Amazon and Amazon Ranking
If you have a mind for business, then you have probably thought about creating an Amazon seller’s account. Maybe you went through with it, and maybe your store is successful, having high Amazon ranking. Maybe it isn’t. Maybe you didn’t do it because there were too many uncertainties (in this case our ebook “3 Steps to Start Selling” should help!). That is the case with most people, but there are plenty of misunderstandings about selling a product on Amazon. In truth, there is no reason why you cannot sell on Amazon if you want to. You just have to do a little Amazon research and be a little business savvy.
Myth #1. There are too Many Sellers Already on Amazon to Make a Profit
This is the most common myth that people believe about this particular business. Many people think that because there are so many sellers already on Amazon that the competition will be too high for them to profit. This is simply not true. Your success depends on lots of things, and the number of other sellers really isn’t one of them.
Myth #2. It Doesn’t Matter What You Sell
Some people also believe that any product you put on Amazon has the same probability of selling as others. No. You need to find a market, a niche, that needs a certain product. There is even a program to help you find this niche, AMZScout Pro. AMZScout Pro is a web browser extension that allows you to analyze products in the marketplace using product’s Amazon ranking as well as many other parameters. With this tool you should be able to find a niche that will help you in your business.
Myth #3. Your Prices Have to be Low if You Want to Sell a Lot
Low prices don’t mean anything if your product is no good. Alternatively, high prices are overlooked for a good product. If you find that niche I’m talking about and you have a high-quality product, then you shouldn’t have to worry about lowering your prices. Having mid-range prices is a good way to compromise so that you and your customers both get the most out of the deal, but I’m sure you could have figured that out on your own.
Myth #4. All You Need to do is List Your Product
Some people will simply list their product on Amazon and then leave it to collect money. The problem with this is, it won’t collect money if that’s all you do. You need to get the ball rolling. Advertise your product anywhere you can think of. Ask bloggers and product reviewers to review your product. The quality of your listing also has an impact on how well it sells. You need to have excellent photos, so you may need to hire a photographer. Taking photos on your phone won’t cut it. Creating a demo video is also a great way to get people interested. Post it on YouTube and other social media websites and promote it as much as you can. You could even ask your friends to promote it on their social medias. In the beginning, you need all the help you can get to increase your Amazon ranking.
Myth #5. You Need to List a Lot of Different Products
While this technique can be helpful, as long as you find your niche and have a good product, you really only need one. In fact, it is recommended that you only have one in the beginning, that way you can get the hang of how the marketplace works and what you need to do to be able to sell more. Listing many products might only net you as many sales as one product, especially if they are lower quality. What you actually need to do is list your first product, wait for it to get some positive reviews, and then post your next one once you are a little bit better known. Try to gain followers on social media first, and then when you sell your next product you will already have a following. You might get some sales right off the bat that way.
There are many myths about becoming a seller on Amazon, and these are just a few of them. If you are striving to become an Amazon seller, then the best advice to you is be confident, have a good quality product, and be patient in the beginning. If you don’t believe any of these myths, then you will be able to succeed on your journey to have a successful Amazon business!