Making Money on Amazon: 11 Proven Strategies for 2021
Can you make a living selling on Amazon?
When most people think of Amazon, they think of a place where they can shop. But there is a kind of methods to make money on the site.
Aside from selling goods to customers all over the globe, the firm also provides full-time and part-time employment opportunities, as well as the chance to start your own business.
Promoting goods through affiliate links, selling your items on the site, self-publishing e-books, and working for Amazon at one of their corporate offices or fulfillment facilities are all ways to earn money via Amazon.
The following are 11 methods to earn money on Amazon.
- Affiliate links are a great way to promote Amazon products.
- Merchandise for Sale
- Items you find on other marketplaces may be resold.
- Amazon is a great site to sell your own branded products.
- Self-Create an Amazon Book Kindle
- Delivering Orders Using Amazon’s Flex Program
- Complete Amazon Mechanical Turk tasks
- Handmade Items for Sale
- Amazon is a great site to sell your professional services.
- Employed by Amazon
- Establish an Amazon Consulting Firm
Are you curious about knowing how to make money on Amazon? Continue reading to learn more.
Amazon has 11 different ways for you to make money
Amazon is constantly adding new methods to earn money on their site, so there is undoubtedly something for anybody looking to supplement their income.
There are a plethora of possibilities for earning money on Amazon. Best of all, many of these may be completed from the comfort of your own home. Let’s look at each technique and see how you may use it to make some money.
#1 Use affiliate links to promote Amazon products.
Many individuals want to sell Amazon goods, but they don’t want to deal with the hassles of product sourcing, inventory storage, or order fulfilment. If this describes you, then Amazon Associates is the program for you.
Amazon will give you unique links that you may use to advertise goods sold on their site as part of this program. Your connections may be shared on your blog, social networking sites, or anyplace else on the web.
You’ll earn a small fee every time someone clicks on one of your links and purchases a product (known as a referral). The most significant part is that you still earn money even if you purchase something unrelated to advertising.
This approach is best for individuals who already have a large following on their blog or social media. You may also build a website around a particular specialty if you’re good at SEO. To begin earning money, optimize your site for specific keywords, promote related products, and add affiliate links.
#2 Make a Merchandise Sale
Have you considered selling your clothing? That’s precisely what the Merch by Amazon program allows you to accomplish.
It works like this: you make a shirt or sweater design and then submit it to the site. If a buyer purchases your shirt, Amazon will print it and deliver it to them. You don’t have to purchase or maintain inventory since the platform is based on a print-on-demand model. Your shirts are only made when someone places a purchase.
This is a fantastic opportunity for anybody creative and skilled in design. Even if you aren’t, you can always pay someone to design something for you (although this will add cost).
It’s important to note that the show is top-rated. As a result, admission is exclusively by invitation. You must first apply, after which you may have to wait a long time to be approved. So, if you’re even somewhat interested, apply as soon as possible.
#3 Resell items you’ve seen on other websites.
Many individuals believe that acquiring inventory from wholesalers and manufacturers is required to sell goods on Amazon. This may not be very comforting, and it may deter some individuals from ever establishing a company.
Other online markets, such as Facebook Marketplace, AliExpress, eBay, Craigslist, and others, allow you to resale goods. This is considered as “online arbitrage.”
The majority of consumers are unaware that pricing may vary dramatically from single marketplace to the next. You may be enable to discover a product on eBay that is half the price of what it is on Amazon. If this is the instance, you may buy it on eBay and resale it for a profit on Amazon.
Of course, you won’t earn money on everything you purchase. You won’t sell much if there isn’t a demand for what you’re selling. This is why you should conduct some product research before starting an internet arbitrage company.
Here’s a short rundown on how to perform effective internet arbitrage:
- Look through Amazon and other markets to see what you may be enable to sell. Concentrate on goods that sell for less on other marketplaces so that you may earn when you offer them on Amazon.
- Install the AMZScout Pro Extension on your browser. Search Amazon for the items you’re looking for then launches the Extension when the results appear.
- Examine the sales history to verify that the products regularly sell throughout the year, then examine the product and niche score to ensure sufficient demand but not too much competition. A score of 7 or above indicates that the product is an excellent one to sell.
- Install AMZScout’s Online Arbitrage and Dropshipping Extension after you’ve found goods you wish to sell. When you look at those goods on Amazon, you’ll see your expenses, profit margins, and other information to help you figure out whether they’ll be lucrative to sell.
That’s all there is to it. It may be the perfect company for you if you like shopping online and are excellent at finding bargains.
#4 Amazon: Sell Your Own Branded Products
If you wish to market on Amazon but want something more lucrative and scalable than online arbitrage, selling your private label goods may be a good option. These are one-of-a-kind products with your company’s logo on them.
The fact that you’re the only one selling private label goods is a huge plus. This means you’ll have less competition and won’t have to compete for the purchase box with other vendors.
It may seem difficult to move up with your own unique thing, but it is straightforward. To make a current Amazon product your own, all you have to do is modify or enhance it in some manner.
Follow these steps to find out what you want to sell:
- Find products that match your requirements using the AMZScout Product Database. Look for goods with 300 monthly sales, a price range of $40 to $70, less than 100 reviews, and a weight of fewer than 5 pounds since these are the criteria used by the most successful vendors.
- Install the AMZScout Pro Extension and use the Product Database to look for the goods you discovered. Examine their sales history and product and niche scores to verify that they will be successful throughout the year and will not face too much competition.
- Find a manufacturer that can make a comparable item for you after finding something you wish to sell. Alibaba.com is the most excellent location to look for one. Look for your product there, and then begin contacting producers.
- Request a sample from the manufacturer. Place your order if you’re satisfied.
- We suggest Amazon FBA if you’re selling on Amazon. This service allows you to send your goods to Amazon, storing them and fulfilling your order for you, saving you time and money. In many respects, it’s similar to dropshipping.
#5 Publish a Book on Amazon Kindle by Yourself
The days of needing to get approved by a big publisher to earn money selling books are long gone. You may easily publish your e-books on Amazon’s platform and start making money right now.
You have the option of writing fiction or nonfiction. Famous fiction authors earn more money, but promoting and selling a fiction book is more complicated. This is why so many writers select to write nonfiction. You may quickly start showing up in Amazon searches if you pick a popular topic and utilize the appropriate keywords.
If you intend on writing it yourself, the expense of producing a book is relatively low. A cover design will cost money, and it’s suggested that you employ someone to proofread and format your text. However, none of them will cost you back much, giving this an excellent chance for anybody who enjoys writing.
#6 Use the Amazon Flex Program to Deliver Orders
Amazon Flex is comparable to Uber, except instead of transporting people, it delivers items.
This service allows you to deliver Amazon purchases using your car. Download the app, join up, reserve a block of orders, pick them up at the depot, and deliver them to the provided locations.
While this isn’t a scalable business, it is a fantastic method to supplement your income. It’s worth mentioning that the Flex program isn’t accessible everywhere at the moment. They may also have sufficient drivers in your region, in which case no vacancies will exist.
Still, if this seems like something you’d be interested in, it’s worth installing the app and checking it out.
#7 Complete Amazon Mechanical Turk Tasks
Mturk (short for Amazon Mechanical Turk) is a platform that enables companies to employ individuals to do basic virtual jobs.
The notion is that people are still better at a lot of things that computers are. Validation, transcribing, and research is all part of this process. There’s also the option of participating in surveys.
It’s simple to join the program. Join up, choose the jobs you’d want to work on, and submit them for money. There is no fixed timetable; you may do these activities whenever you choose.
The disadvantage is that these occupations are usually low-paying. Still, it’s worth trying if you have some spare time and want to earn some money. The jobs mentioned here do not need any particular talents. Therefore anybody may do them.
#8 Make a living by selling handcrafted items
Are you a creative, artistic person who enjoys making your goods? Then it would help if you thought about selling your items on Amazon.
Amazon Handmade is a marketplace where you can buy goods created by local artists. Jewellery, cups, toys, and cosmetics are all examples of this. If you can manufacture it, you can probably sell it on Amazon.
Of course, the same regulations apply as they do for any other kind of goods sale. Before you invest all of your time and energy into creating anything, you should be sure there is a market for it. This is why doing some research before getting started is a brilliant idea.
It takes a lot of effort to sell handcrafted items. If it’s something you love, though, this is a fantastic chance for you.
#9 Amazon is a great site to sell your professional services.
Amazon built a reputation by selling goods, and now they’re branching out into professional services.
The Mechanical Turk initiative, on the other hand, concentrates on low-skilled jobs. You’ll be offering expert work with Amazon Home Services.
Currently, the program provides the following services:
- Assembling the product
- Installation of the product
- Services for home theatre
- Handymen
- plus a lot more
Customers make requests after purchasing an item on the site, and the services delivered are based on those demands. The target of the scheme is to help consumers in getting their goods functioning or installed.
This chance isn’t for everyone since you’ll need particular talents to do these jobs. However, if you believe you’d be a good match, you should check into it.
#10 Get a job at Amazon
Since Amazon is one of the world’s most huge corporations, it has millions of employment openings all around the globe. If you’re interested in working at Amazon, there are many options to consider.
Amazon Jobs have a list of their open positions.
The following are examples of typical employment provided by the company:
- Customer service
- Designer
- Human Resources
- Administration
- Software development for legal marketing
- A worker at a warehouse
There are various positions available at the business, so have a look at the website to see if one meets your qualifications.
#11 Establish an Amazon Consulting Firm
Have you ever sold anything on Amazon? Then you most certainly have a set of valuable talents and expertise to give.
Many sellers are searching for business advisors to assist them with the start-up process. This contains tips on product research, sourcing, selling, profiting, pricing, and marketing, among other things.
There are also possibilities for those who have never sold before. You may have talents that are useful to vendors, such as:
- Skills in copywriting for product listings
- Photography, and;
- PPC advertising
Start by posting ads for your services on Upwork, Fiverr, and Freelancer. It only takes a few good suggestions for things to take off in a big way.
What Can You Earn on Amazon?
You’re presumably wondering how often money you can earn after going through all of the above methods and which approach is the most lucrative.
Because each one’s income is so different, let’s take a look at each one separately.
Affiliate Program with Amazon
The amount of money you earn as an Amazon affiliate is primarily determined by the amount of traffic you can generate to your links and the price of the goods you’re advertising. Referral royalties vary from 1% to 10% of the amount referred. A successful affiliate may earn up to $1000 each month, with many making much more.
Amazon’s merch
To earn money with Merch by Amazon, you must attract people to view your product listings via SEO or paid advertising. Royalties in the United States vary from $2.21 to $9.77 per sale. The best-selling authors earn $2,000 to $3,000 per month on average, with some making over six figures each year.
Arbitration on the internet
The number of sales you make and the amount you earn on each sale determine your capacity to benefit from online arbitrage. You may easily earn over $1,000 per month if you sell a lot and have excellent sales margins.
Products with a Private Label
There are almost no limitations to how much money you can make with private-label goods, making it one of the most important methods to make money on Amazon. The company is both scalable and lucrative. The most successful Amazon sellers may earn up to $50,000 per month, while those who sell on Amazon as a side business can still make a good living.
Self-Publishing
If you can create high-quality material and promote it successfully, you can make a lot of money by publishing books on Amazon. Royalties on sales vary from 35 percent to 70 per cent. More minor authors may only earn $50 to $100 a month, while the most successful authors earn more than $100,000 per year.
Amazon Flex
While there is the potential to make money using Amazon Flex, it should be considered more of a side hustle. Amazon claims that its drivers make between $18 and $25 per hour.
Amazon Mechanical Turk
While earning money via the Mechanical Turk program is simple, you will not make much money. Businesses are usually unwilling to pay much for these activities since they are considered inexperienced. You may expect to make anything from $2 to $7 per hour.
Handmade on Amazon
The quantity of items you can produce is the only limit to how much money you can earn with Amazon Handmade. If you start something popular, you’ll need to keep up with demand to maximize your earnings. Smaller sellers may reach $100 a month, while others may earn $50,000 or more.
Amazon Home Services
The number of tasks you can complete with Amazon Home Services determines your revenue. Also, bear in mind that Amazon gets a 10% to 20% cut from each job. The finest contractors, on the other hand, may earn about $8,000 per month.
Employed by Amazon
As you would imagine, Amazon’s pay scale is very diverse. Someone who works at one of their fulfillment centres is not the same as someone who works in one of their corporate offices. With that in mind, you might earn anywhere from $16 per hour to more than $120,000 per year.
Business Consulting with Amazon
When it comes to an Amazon consulting company, the amount of money you earn is entirely up to you. You may choose your rates and work as much or as little as you want. The most successful companies earn more than $100,000 each year.
Choose goods and markets that you are passionate about.
Because you’ll be acquainted with the market and care about it, you’ll be able to create the most acceptable sales copy. You’ll be able to demonstrate why your product is superior, and consumers will be willing to spend more for a product they believe is incomparable, which is always a good thing.
You may start by selling other people’s goods, which is excellent, but if you want to build a long-lasting company that keeps the competition away, consider developing your own branded products.
Having your own branded or private label goods on Amazon lets you establish your own branded shop, secure your products from competitors, and create something valuable.
It’s worth it if you want to be free and fulfilled.
Selling on Amazon allows entrepreneurs all around the globe to build profitable companies that enable them to do things like:
- Spending time with loved ones
- Make your timetable.
- You may vacation whenever and anywhere you choose.
- The decision to abandon the daily grind
Make your business operate for you instead of against you
You may go far with the proper setup, but getting consumer attention on Amazon can be difficult, which is why marketing is so crucial to your business’s success.
It’s all about finding the most incredible message-to-market fit, which is why we suggest the pieces of training we provide, which may help you learn from successful salespeople’s errors and triumphs.
It’s time to seize the reins and explore new possibilities!
Conclusion
As you can see, Amazon offers a plethora of money-making possibilities. If you’re seeking a way to create some additional money, look at some of these options to determine if one is suitable for you.
