Amazon is undoubtedly one of the largest platforms for any entrepreneur seeking ways to make money online. Unfortunately, most don’t understand how to make money on Amazon or even where to start.
There’s no doubt that Amazon offers many exciting ways to generate income and create wealth with whatever resources or skills one possesses. Today, you can generate significant revenue on the site and even become an Amazon bestseller.
This site is arguably the most versatile online shopping platform that beats all the other eCommerce sites, whether selling directly or as a third party. In 2020, Amazon reported $21.33 billion in net income. Its revenue amounted to over $386 billion from 2014 to 2020.
Statistics also reveal that over 89% of customers also trust Amazon and are more likely to purchase products and services here, than from any other eCommerce platform. Thus, Amazon has become an online marketplace standard, making people trust and become loyal online shoppers.
These statistics show that Amazon is an excellent choice for those looking for a reliable platform to make money online. And if you’re one of them, then you’re in luck. This guide comprehensively shows you the different ways to generate income online and, more specifically, if you want to make money with Amazon.
Let’s delve in:
Table of Contents
Top Ways to Make Money on Amazon
1. Sell Your Own Private Label Products on Amazon
The first and arguably the most reliable way to make money with Amazon is through private label sales using the Fulfillment-by-Amazon (or FBA) network. Approximately 71% of Amazon sellers use this method to make money on Amazon.
How to Make Money on Amazon FBA
Private label selling is manufacturing pre-existing items in bulk (preferably with product improvements), putting your brand on them, and selling. This process is sometimes called brand-creation or white labeling.
Amazon FBA helps you deliver your products in two or fewer days. This enables eCommerce business owners to list items on Amazon and generate income from the sales.
Becoming a successful Amazon private label seller is easy as there are tools to help you with the process. For example, you can use a Jungle Scout tool to help with estimations of the sales your product will make on Amazon.
Also, platforms like Alibaba or Jungle Scout supplier database can help with how to source and manufacture your products. After product creation, you can sell them on Amazon using FBA. The good thing about using Amazons’ FBA is that you won’t have to ship your orders as they do that on your behalf.
The proceeds from this business are exceptional. Statistics show there are people who make up to $5,000 per month per product. For private-label sellers with over a year of selling experience, 31% have generated $50,000 and above in lifetime profits.
Get in-depth information from this book, Amazon FBA, Dropshipping E-Commerce Business Model and Passive Income: by Liam Walker (Author), Chris Lynch (Narrator), Jeremy Witson (Narrator), & 1 more.
2. Publish eBook on Amazon Kindle Direct Publishing
Are you a professional writer, or do you have a team of creative writers and would love to publish a book? Writing and publishing e-books on Amazon is a lucrative venture you should consider.
How to Publish an eBook and Make Money on Amazon
Amazon Kindle Direct Publishing (KDP) lets publishers publish their books on Amazon for free. Besides having your book in digital print, you can print actual hard copies with Amazons’ CreateSpace Print on Demand.
To become a successful book publisher on Amazon, you must be a prolific writer and publish in volumes. The more books you publish, the more money you make. This is an excellent way to make money on Amazon.
The good thing is that even if you aren’t that good at writing, you can seek services from freelance writers. A platform like Fivver offers you an incredible opportunity to connect with top-notch writers, who can help you with your writing needs.
How to Make Money Selling Books
With Amazon Kindle publishing, 70% of royalties on overall sales go to the publisher. Some reports say there are Amazon publishers who make up to $40,000 per month.
The good thing about writing and publishing digitally is that you don’t have to rewrite to sell books, and you’ll never run out of inventory.
With Amazon, you can also make a few bucks selling used books on Amazon. Some books to help you understand how include:
- How To Make Money Selling Used Books On Amazon: There may be dollars on your bookshelf.- By Gerald Zimmerman
- How To Make Easy Money Selling Your Old Used Books On Amazon- by Steve Johnson
3. Become an Amazon Affiliate
An excellent way to make money on Amazon without selling anything yourself is to become an affiliate marketer. This is a popular method used mainly by bloggers. Affiliate marketing answers the question of how to make money on Amazon without selling.
How to Make Money with Amazon Affiliate
Amazon affiliate is a giant online money-making program. To become a successful affiliate marketer, you need to have a vast reach online. You can acquire this through blogging, influencer marketing, or moderating an enormous online community.
To make money with affiliate marketing, all you need is to recommend the products on the Amazon product category that seem most appealing to your audience. And if you’re lucky to convert a few people from your audience, then you make some good bucks.
To earn a commission from Amazon, the people that make the purchase have to follow the affiliate link Amazon provides to you. Typically, you’ll get between 4% and 10% of the price of the product. Becoming an Amazon affiliate is pretty easy and lucrative.
If you want to learn more about how to become an Amazon affiliate, there are numerous resources and courses online. For instance, Udemy gives you access to any course you want, including books.
And, to help make your blog more visible to the audience, as well as increase the conversion rates for the products, a tool like Leadpages will come in handy. This way, you can get the most from the Amazon affiliate program.
4. Make Money with Merch by Amazon
Are you a creative person with super excellent artistic and designing skills? You, too, can make incredible amounts of money on Amazon.
How to Make Money on Amazon Merch
You can use your design skills on Merch by Amazon to make money on Amazon. This includes designing ad selling items like t-shirts, caps, hoodies, and lots of other things.
Selling your designs on Amazon is free, and the platform is entirely responsible for printing, packaging, and offering support to the customer.
To make money with Merch by Amazon, you need to create an account, upload your design, place a price tag on them, and then write a fantastic description of the products, including their color.
If you are a t-shirt designer, you can use software like Merch Informer to help research new keywords and organize favorites without having to open Amazon.com.
If you don’t have excellent design skills, you don’t have to feel left out. Luckily, you too can make great designs and get some bucks. All you need is to be up-to-date with cultural trends and have just the basic design software like Canva. Also, platforms like Fivver, Upwork, and others, can connect you to professional freelance graphic designers.
Designers earn from royalties where they get a royalty on every design that they sell. The money one makes depends on the product price and the much it costs at Amazon to sell that product.
5. Get Paid for Writing Amazon Reviews
Amazon reviews are pretty beneficial to both the manufacturer and potential buyers. The feedback people leave on Amazon after a purchase can make or break an Amazon retail business.
How to Get Paid for Amazon Reviews
Paying for reviews is against Amazon’s terms and conditions. So, accepting payment to leave a review on Amazon.com is breaking the site’s rule.
That means there are scarce opportunities for making money this way. Nevertheless, you can make some quick bucks writing reviews through:
Working with Book Review Websites
This is one of the best ways to get paid to review Amazon products. In this case, you earn cash payments or free books in exchange for reviews.
Review Products on your Blog as an Affiliate
As an affiliate, you can use your blog to recommend Amazon products. All you need is to join the Amazon Associates program and get your affiliate link to these products.
Place the links when writing product reviews. When a reader clicks on the clink on your blog and purchases the product, you earn a certain percentage of the profits from that sale.
Provide Reviews on Swagbucks and Earn
Swagbucks, a rewards website, offers numerous ways to earn. Providing feedback to brands, some of which sell on Amazon, is one way to earn from Swagbucks.
In exchange for valuable feedback, you get points as rewards and can convert them into cash.
6. Invest in Amazon and Earn Money
Amazon is one of the few companies in the world with a $1 trillion valuation. The share price of Amazon has nearly doubled in the last year as online shoppers have ballooned during the COVID-19 pandemic.
How to Invest in Amazon and Earn Money
When deciding whether to buy or not to buy an Amazon stock, don’t base your decision on the past performance or current price. This two can change rapidly. Instead, rely on significant merits by scrutinizing stock investment, including:
- Understand the company’s management
- Check the net income & earnings
- Consider the revenues
- Analyze the competition
Other than these factors, consider whether the decision is ideal for your portfolio. To understand this, check your:
- Financial situation
- Investment goals
- Current holdings
Amazon’s trading price was $3,441.28(as of this writing). The price is quite volatile, and so it’s prudent to check the current stock price by searching NASDAQ – AMZN, Amazon’s trading ticker, or get the information from a reliable online broker.
With such a high stock price, it’s advisable to purchase fractional shares. This enables you to buy a piece of the share based on the amount of money you have or want to invest rather than the entire thing.
Remember that stock investments are long-term investments, so investment and financial experts warn against buying stocks with the cash you’ll need in the next five or fewer years.
With whatever kind of business you pick to run on Amazon, you can generate huge returns with little or no investment. These proven ways to make money on Amazon set you on the right path towards achieving that dream. You may also use books and resources such as, Make money with Amazon – How to Make $1000 per day on Amazon – by Bradford Sullivan and The Secrets to Selling on Amazon: How I turned Nothing into Millions by Beau Crabill.
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