Keeping pace with the digital money-making world, Amazon has a lot of opportunities to offer. According to recent industry figures, Amazon is the leading e-retailer in the United States with close to 232 billion U.S. dollars in 2018 net sales. Whether it’s online retail, computing services, using Amazon’s affiliate program, working from home, or linking up as a social influencer, there are several ways to make money on Amazon. It requires limited skills and little effort to get the money rolling and into your account each month.
In the last reported year, Amazon’s net revenue in e-commerce retail sales was 252 billion U.S. dollars. Its e-commerce space rapidly grew from 38% to 49% from 2016 to 2018, respectively.
This gives you all the more reason, to get the wheels of your mind churning, andstart offon six incredible ways tomake money on Amazon–without leaving your house.
- Merch by Amazon
Merch is a fabulous way for artists to get their creative juices flowing, and design their very own T-shirts. All you need to do is, upload your artwork and link it to the product type and color. Once that is done you need to provide a brief description of your T-shirt on the product page, and wait for customers to jump in, and wear your creativity out. Once a sale is done, Amazon takes the entire responsibility of production, shipping, and customer services, with no upfront costs associated with starting your business. This makes it easier to make money on Amazon, for free!
Amazon takes royalties on each sale, without the worry of extra stock, as amazon only prints on sale to sale basis. This means that you are only charged once an item is sold–and whatever is left over after costs and fees, is yours. Also, to keep track of sales on items that sell the most, you can use analytical tools that give you detailed reports on all your items.
- Fulfilment by Amazon (FBA)
FBA is a far easier option if you want to sell your products, in comparison to the merchant-fulfilled option on Amazon, where you have to take care of inventory storage, shipping and returns yourself. The main difference between both the selling techniques is that with FBA you ship your inventory to Amazon and they take care of inventory, packing, shipping, and customer service and return themselves. This is less burdensome and takes away the pressure of keeping a tab on inventory and space, and increasing customer reach. This way you can make money on Amazon without any hassle of administrative tasks.
This is a pay-as-you-go option, where you are only charged for storage space. The cost of shipping is included in your fees, with no extra charge from Amazon. However, to make sure that your product sells and isn’t sitting in the inventory, it would be beneficial to select products that sell. These can be sold at the lowest amount initially so that more people buy the product and leave reviews for you to alter your strategy accordingly.
If you’re baffled by which strategy works for you better, Amazon offers an FBA profitability calculator, so that when you make money on Amazon, it’s worth your time and effort.
- Join Amazon Affiliate
Amazon Associates is one of the first affiliate marketing programs launched in ’90s where, bloggers and website owners created Affiliate links, to generate sales. If the clicks generated a sale on Amazon, the Affiliates earned referral fees. This process is still ongoing and is easy, as you can choose from over one million products to advertise to your customers, and get up to 10% in advertising fee from Amazon. Users can range from bloggers to large online networks or e-commerce sites that use linking tools, to generate income from their sites and make money on Amazon.
- Dropshipping with FBM
Dropshipping was an excellent model that paved way for various big retail e-commerce companies, to buy underpriced items on Amazon and sell them for a higher price elsewhere such as eBay, Ali Express, Shopify, Etsy, etc. With a customer business increase of 300%and an increase in Net Margin by 15.6%, this hassle-free service manages your inventory, packaging, or shipping with no monthly platform commission. It provides reliable delivery services, and high-quality packaging, allowing you to make money on Amazon, with less upkeep.
- Amazon: Kindle e-books
Kindle publishing is by far one of the most easiest and effective ways to make money on Amazon, is the largest e-retailer in the United States, with hundreds of millions of customers each day. With Amazon’s self-publishing services you can reach millions of readers worldwide and independently publish your paperback or e-book using CreateSpace, publish your digital book with Kindle Direct Publishing and create an audiobook with ACX. You can earn up to 70% in royalties, and get your book published in minutes and on Amazon’s sites within two days. Once published, you can sell it worldwide on amazon sites in multiple languages, and publish it to the Kindle ecosystem. Moreover, you can keep control of your rights and set your own price lists.
Though before you give it a shot, make sure you are aware of your niche, and what is currently selling in the market. Make sure you have quality content, a winning title, and a superb cover to go with it. Once this is sorted you can market and promote your book to make money on Amazon Kindle, practically for free.
- Amazon Mechanical Turk
Amazon Mechanical Turk (MTurk) is a crowdsourcing marketplace that creates virtual opportunities for businesses to outsource their work to a distributed workforce. It is a platform that streamlines business processes and gets work done cheaply. Work can comprise fairly simple tasks such as data validation, survey participation, content moderation, and research–to augment data collection and analysis, and acceleration of machine learning development.
As an MTurk user, you can easily make money on Amazon from at least $150 -$200 each week, and get higher paid jobs once you reach a quota of small jobs. This process enhances companies to harness collective intelligence, skills, and insights from a global workforce.
So to wrap things up, there are numerous ways you can get out there and make money on Amazon without having a massive skill or means to do so. It is a market so large, that you can fit in any way possible, be it through designing your T-shirts, being an Affiliate, Dropshipping your products, writing a book, or performing small tasks–Amazon has a cure for it all.