1. Picking a profitable product
The best way to start is by checking Amazon’s list of best-selling products. You can get an idea of what customers are buying or looking for.
That is priceless information. Avoid saturated categories, and look at your competition and what they’re doing.
A great tip is to focus on newer stuff.
The kind of products that are not yet stocked by other big retailers or marketplaces. Deep dive into departments and subcategories to find new products. Pay attention to the “Hot New Releases” columns.
2. Choosing the right manufacturer
Avoid the mistake of choosing the cheapest manufacturer, even if you have great communication with them. The cheapest product is not the best in all cases. A better way to go is using the lower price quotes to help negotiate prices down with the manufacturers.
Usually, manufacturers willing to negotiate have better communication and fulfillment skills. It is better to choose a supplier with excellent services in all areas. Remember any time you’re negotiating you are free to walk away from a deal.
Once you’re set on a supplier, arrange payment via your preferred method. Most suppliers will accept PayPal or Alibaba’s Trade Assurance for safe and secure payment processing.
At this point, you should mention to your supplier about working with private label products. It could be as simple as having labels produced for you by a print shop and then adding them to your product packaging and continuing to be a private label. Talk to your manufacturer to figure out the best options.
3. Investing in quality design and branding
As the adage goes, “A picture is worth a thousand words.” Investing in quality design and branding will not only allow you to have a seamless online presence in the marketplace but will also enhance your customers’
experience. Amazon A+ Content can help you achieve these goals.
4. Creating killer listings
When creating your listings, make sure you cover these aspects:
Include all the details you can in your description. Make it as informative as you can. Most customers reading the product description are about to make a decision to purchase something. Take advantage of that opportunity! Use bullet points to make information easy to read. Don’t forget to add keywords in the product description as well.
Keep it simple.
Add key details about your product in the title. Make sure to mention your brand name. Your title should have 100 to 150 characters. Be clear and use your keywords wisely!
Make it appealing. It is your responsibility to make sure your customers understand your product and how it works in the best way possible. Use high-quality photos and videos from every angle.
At least 6 photos will usually give buyers a good idea of how it looks in real life. Amazon recommends at least 1280 pixels on the longer side.
5. Testing the market
If a product has caught your eye, you can test the waters by creating an Instagram account, and showcasing your product. This way, you’ll get to engage people quicker and this can work as a strategy for driving outside traffic.
You can also use it as an opportunity to promote customer feedback through surveys or direct messages, which will eventually help you to improve your marketing strategy.
6. Setting a competitive price
The ideal range of prices for a private label product is a range between $15 to $45. A product that sells at less than $15 will leave you with a very small margin. Customers looking for products that go over $45 prefer established brands, so anything over $45 will move slowly for private labels.
7. Using Fulfillment by Amazon (FBA)
Using FBA is definitely a safe bet. This fulfilling program, supported by Amazon, not only gives you the peace of mind you need when fulfilling your customers’ orders but also increases the customers’ trust in your brand.
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