From a small company selling used books to a $2 Trillion organization, Amazon is one of the finest success stories of the modern generation. According to a business report, in 2020, Amazon added a staggering $386 Bn to its revenue. And more than half of it came from third-party sales.
Are you looking for practical ways to make money on Amazon in 2023? With the rise of online shopping and work-from-home opportunities, Amazon has become a great platform for making a lot of money.
Amazon Services and its affiliate program offer one of the best ways to make money from Amazon – Affiliate Marketing. By leveraging the power of affiliate links, anyone can start earning from the comfort of their own home.
In this article, we’ll share some practical tips on how to make money from Amazon in 2023 so that you can start making real profits with minimal effort.
We’ll cover topics such as understanding the basics of affiliate marketing, creating an effective affiliate link strategy, using different tools and services offered by Amazon, and more. So read on to find out the best way to make money on Amazon in 2023.
Is Selling on Amazon Worth It?
Selling on Amazon can be a great way to make money, depending on the products you sell and how you choose to do it. Amazon offers many different services for sellers, such as Amazon Handmade, Mechanical Turk, Merch by Amazon, and Amazon Associates.
You can sell products and use the affiliate program to make money through referrals with each of these services. Make money on Amazon without selling anything through the Amazon Associate Program.
You can earn commissions when someone buys something through your link by placing product links on your website or blog. With so many options available, making money on Amazon with little effort or knowledge is possible.
As we all know, Amazon is no longer only an online shopping store for clothes and shoes. They have a movie production house, music store, transport facilities, etc. All these sectors are filled with several business opportunities that can turn your fortune. Let’s see what you can do to make money on Amazon:
Ways to Make Money on Amazon
Here’s a list of ways you can make money on Amazon:
1. Sell Using FBA:
FBA, or Fulfilled By Amazon, is a seller agreement where you can use Amazon’s huge resources to sell your product on the marketplace. This is probably the easiest way to enter the Amazon business with minimum effort. When you sign the FBA agreement, All you need to do is send the inventory to Amazon warehouses, which will be stored there until sold.
Yes, there is a monthly fee that you need to pay to use Amazon warehouses and fulfillment services. Whenever the customer places an order, the Amazon system automates the process, which takes care of everything, including picking up the item, packing, shipping, and delivering it to the customer.
You must register on Amazon as a seller and pay free FBA and storage charges. Next, you need to ship your items to the nearest Amazon warehouse and wait for the customer to place the order.
There are risks and benefits involved in Amazon FBA. While the cost of an FBA agreement is high, the chances that you might end up losing money are also very high.
Also, if the inventory is sold after your agreement expires, you are asked to pay a higher amount to keep using the Amazon facility. This business approach requires a lot of market research and planning. We will discuss further how to approach FBA business from scratch.
2. Sell your Private Label:
Private labeling of your product is another great way to sell and earn money on Amazon. It means you register the product under your name. Private labeling includes manufacturing the existing goods with some improvements and labeling them with your name or brand logo, and registering them on Amazon as your own.
The process is rather straightforward but requires planning and a strategic approach. You order the product of your choice from the manufacturer, modify it with your brand name and logo and list your product on Amazon as a brand seller. You must apply for brand registration on Amazon before selling it under your brand name.
To sell private labels, you can use FBA, the fastest way to reach customers. As an FBA seller, your products fall into the Prime category, meaning premium service, quick delivery, and returns.
Also, your product will be listed in the Prime FBA category, which will likely draw more organic traffic than a non-prime item. The private label gives you more control over your inventory since you can modify the product based on the customer reviews or device the price how you want before listing them on Amazon.
3. Take FBA training:
We all know how tempting it is to watch the thousands of Amazon sellers making loads of money just by selling their products on Amazon. In reality, the path to success is more challenging.
Becoming a seller alone requires a lot of planning, market study, and e-commerce understanding. Let alone making millions. This is where an FBA course might help you tremendously.
FBA courses are training programs that include online classes, video lessons, sessions with marketing experts, successful Amazon sellers, and so on. Many organizations offer 6-8 weeks of training, including lessons on Amazon marketing, product discovery, inventory management, shipping/logistics, and listing optimization.
These training programs are used by even some of the well-established Amazon sellers looking to strengthen their place on the Amazon marketplace.
- You get access to private blogs, Facebook pages, and seminars.
- Features and prices Here are some of the features of a good FBA training program:
- Specialized classes on how to begin your FBA journey and start selling
- How to create private labeling
- Tricks and tips to create a successful product listing
- Classes on how the fulfillment center works, along with packing, label printing, and so on
- Classes on finding the supplier, shipping the inventory, and various logistics operations
4. Use a good FBA Seller Tool:
As I mentioned earlier, starting your business on Amazon requires extensive market research and a deep understanding of the particular niche. Without professional help from business experts, finding the most profitable products, trending keywords, potential suppliers, and so on is quite daunting. To overcome this situation, you need a good FBA seller package. There are well over 12 FBA seller tools available on the market.
An FBA seller suite is a collection of tools that do all the guesswork for you regarding product selection, product listing, financial research, and so on. It’s the most efficient way to get a headstart while setting up your Amazon business.
These tools work on real-time data and usually have access to millions of Amazon product data from past years. They consist of various features that can help you gather vital data about the competitors and create a strategic plan to launch your product on Amazon.
- Product Research Tool:
The product research tool finds the most profitable and popular products in the niche. The data is based on thorough market research, which is based on past sales,
- Listing Optimizer:
Creates the most successful listing for your Products, attracting more organic traffic on your Amazon sales page.
- Keyword Manager:
Finds the most trending keywords and further classify them based on the product type, making your product easily discoverable and appear at the top of the Amazon search result.
- Inventory Management:
Keep an eye on your stock. It also calculates the possible supply you need and when you should order it. Moreover, it helps you connect to the most reliable suppliers with a minimum price around the world.
- Campaign and Launch:
Plan various strategies and programs to launch your product on Amazon. It also helps you create lucrative deals for your customers while keeping an eye on your fellow competitors and their sales.
Currently, there are 3 best FBA seller tools.
Jungle Scout – Starts at $29/month, also includes free Jungle Scout Academy FBA training
Helium 10 – Starts at $39/month, includes complimentary Freedom Ticket training worth $997
Viral Launch – Starts at $69/month. Viral Launch includes full seller tools
5. Sell Wholesale items:
Wholesale on Amazon is similar to in real life. The idea is simple. You purchase bulk quantities from the manufacturer and sell them on Amazon as a certified FBA seller. With wholesale, the procedure is more straightforward than with Private Labels.
You need to purchase the goods in large quantities and ship them to the Amazon warehouse, and you are done. Amazon will take care from here; you need to wait for the customer to place the order.
Unlike Private labels, you are not required to do any labeling, branding, or modification to the product. However, the Wholesale market is much more competitive since you share it with plenty of other wholesalers.
Usually, the seller with the lowest price can attract customers. This means that the profit margin is all about purchasing wholesale items. If you cannot buy it at a significantly lower price, it isn’t easy to make money in this segment.
6. Deliver for Amazon:
If you are looking for a more flexible and comfortable job, you can try Amazon Flex. Since the introduction of Amazon Prime and 1-2 day deliveries, there has been a high demand for delivery associates at Amazon, especially in posh areas.
If you fulfill the requirements, you can earn up to $18-25 per hour based on the job requirements in your area.
All you need to do is download the Flex App on your smartphone, register and answer a few questions and wait until you are accepted as Amazon’s third-party delivery associate.
You need to have your vehicle to apply for this position. The shift usually lasts 4-5 hours a day, depending on the workload in your area.
While this is not a permanent income, Amazon Flex is the perfect start if you have a car and are looking for a good part-time opportunity.
7. Publish Your Book on Amazon:
This may sound like an impossible feat at first sight. Are you selling your book? Well, it’s not as tricky as it seems, especially when we are talking about selling on Amazon.
If you go through the Kindle store, you will find out that this platform doesn’t only sell books from widely known authors but also from young and aspiring writers who are looking to earn a name in the writing field.
If writing interests you, Amazon provides a great platform to publish your work and gain recognition. This program is called Amazon Kindle Direct Publishing.
All you need to do is register on Kindle Direct Publishing, and within a few minutes, you can publish your ebook, which will be accessible across the globe. Amazon keeps 30% of each product listing, and the rest 70% royalty will go to you, which will be your pure profit.
Yes, writing a book requires talent and patience, and you may start making money slowly, but if you have confidence in your work or are running a small publishing house, you should try KDP. This is one amazing opportunity where very little initial investment is required. Not only that, you can even get your books published using CreateSpace.
The key is to keep making content regularly to increase your visibility and viewership. If you pull one or two bestsellers, the chances of earning big money are very high.
8. Become an Amazon Influencer:
With the Amazon Influencer Program, making money on Amazon is easier than ever. With this program, you can become an Amazon Influencer and earn a commission by promoting products from Amazon on your social media accounts. All you need to do is sign up for an Amazon account and apply to the program.
When approved, you will be given a unique URL that allows you to track your sales and make as much money as possible with Amazon.
You can also join the Amazon Affiliate Program, which allows you to earn a commission when customers purchase products from your link. By joining both programs, you can maximize your earnings and make a profit easily.
As an influencer, creating engaging content that drives traffic to your affiliate links is important so that you can make more money with Amazon. Take advantage of these amazing opportunities today and start making money with Amazon!
9. Become an affiliate through the Amazon Associate Program:
Making money through Amazon is one of the easiest ways to earn income online. With the Amazon Associates Program, you can work from home and make money by selling products on Amazon.
As a seller on Amazon, you will have access to a wide range of wholesale goods available for purchase, and you’ll be paid a commission when your sales are completed. Additionally, if you’re looking for more income potential, the Amazon Camperforce program allows people to travel around the country while making money with Amazon.
When making money with Amazon, there are no fees associated with becoming an affiliate, and you get to keep most of the profit from every sale. There’s also an Amazon page dedicated to affiliates that provides helpful tips on how to maximize profits.
With so many ways to make money through Amazon, it’s easy to see why it’s become one of the most popular options for earning extra income online.
10. Sell digital products on Amazon:
Selling digital products on Amazon is an easy way to make money. Selling digital products has many advantages, such as the low cost of inventory, no stocking or shipping expenses, and the potential for high earnings in a short time.
You can create digital products such as e-books, music albums, stock photos, etc. Plus, Amazon allows you to set the price for your digital products so you can easily adjust them to maximize your profits.
To start selling digital products, create a Seller Account on Amazon and set up all the required information. After that, you can upload your digital products and set the product description, pricing, and other details. You will also need to create a strategy for marketing and advertising your digital products to increase your sales.
Once you start selling, Amazon will handle all payment processing and distribution of the digital products, Letting you focus on other areas of your business. Amazon offers tools and resources to maximize profits from digital sales.
Conclusion: How to Make Money on Amazon
As you can see, whether you are a writer, starting your own business, or even looking for a part-time job, Amazon has opportunities for everyone. You can easily find the one that interests you the most and start making money immediately.
There are various other ways to make money while working indirectly with Amazon, such as promoting products on social media as an Amazon Influencer.
You can also work as Amazon Customer Associate from a remote location or join MTurk- an Amazon crowdsourcing Marketplace where you can be a part of the Amazon virtual task force and work on data entry, content modification, surveys, and so on.
Frequently Asked Questions:
How can I become an Amazon Delivery Associate?
You can go to Amazon’s official career page and apply there with your details and work experience.
How much can I earn as an FBA-certified seller?
On average, you can earn between $625 to $1,875 per month per product on Amazon, considering you sell your product in good quantity. More than 56% of Private Label FBA sellers rake up to $5000 monthly, according to a business report.
Which FBA training program is the best for beginners?
Many companies provide FBA training programs these days. Jungle Scour training academy and Freedom Ticket by Helium 10 are two. Jungle Scout is best for the new business, while Helium 10 is good if you haven’t started yet but are planning to step into the Amazon business.
What are the most profitable products to sell?
Traditionally, appliances, electronics, toys, and games are a few of the most profitable categories where you can sell and start making good money straight away. However, I suggest you do thorough market research in your area and develop a product to sell based on the data. You can also take the help of some Amazon Product Research Tools online, such as Jungle Scout, Helium 10, or Viral Launch.
How much money can I make as an Amazon affiliate?
As an Amazon affiliate, you can make a good amount of money. How much you make depends on multiple factors, such as the type of products you promote, how many people click your links, and how much each sale is worth. You also have to factor in Amazon’s fees for its services. Generally speaking, if you can drive substantial traffic to your affiliate links and offer high-value products, you could make thousands of dollars per month.