If you have been selling with Amazon FBA for a while now and being a little ambitious currently, you might be looking to expand your business to a six figure mark. While it is not easy and not going to happen overnight, you can still work your way into it. Try following the below steps for a steady growth as an Amazon FBA seller and reaching the six figure profit.
- Know and calculate numbers
Make good use of the FBA calculator to check viability of your products after deducting all related fees and expenses. The adjusted gross margin should be within 15-20%. You should have a track of all your financial dealings right from when you started the business. It is important that you pay attention to financial figures and calculations so as to understand how your business is performing. All this helps in building and/or changing your marketing strategies to adapt to the need of the hour.
- Go online independently
That is, have a brand website of your own. Statistics are proof enough that businesses with their own online website reached the six figure profit margin earlier than others. You can open a site with Shopify easily.
- Paid advertising
No matter how optimized your listings are for Amazon and Google search results, some paid ads never hurt. You can sell your products quicker and gain customers too.
- Slow and steady wins the race
It is always wise to grow slow but steady. Try not to stock too many products in the inventory at a time. It is sustainable as well. If you don’t get proportionate sales, you are at a risk to incur loss.
If your seller account got suspended, you can learn how to open another Amazon account after suspension from here.