That’s an intriguing question that comes to every seller’s mind sooner or later!
Yes, you can certainly, and this year thousands of people are already earning more than 100k a month with Amazon’s new product!
TechoWiser surveyed all Amazon sellers in 2016, and it was found that over 35 percent of Amazon sellers in 2016 made $100k to $1 million for the whole year, which was a very eye-opening experience for me because it’s not like the top 5%-10% of Amazon sellers make good money more than 1/3 of Amazon’s sellers make a full-time income that is probably more than their job. This survey shows that Amazon is a fantastic established business model and that its services have lots of customers earning money.
This blog entails how to make huge money in a month without paid ads.
How To Make $100k By Selling Products In A Month
Here is a step by step guide to help you understand how you can make $100k by selling a new product.
Classify A Big Market
Many people confuse “niche marketing.” Niche marketing means focusing on a single target audience-dating, weight loss, yoga, etc. Marketing niche does NOT mean targeting the smallest potential audience, which is what most companies are doing. Those words remember: big markets are better.
Amazon is a volumetric game. In this way, it’s like Google SEO-you’s playing with the amount of traffic already there. There’s nothing you can do to have your keyword more searched; to be relevant, you need to have something of interest in a market that’s already very high.
In other words, if you’re inventing anything new, Amazon isn’t your best outlet (although I would still encourage that person to have an Amazon presence, that’s not the model we’re following).
Find Out What People Are Buying
This is a relatively simple one. Only Google “top Amazon sellers in [you’re] market” and see what’s coming up.
These top items bring hundreds of sales a day. What can I tell? First, from practice, and second, from getting thousands of ratings.
When we researched the yoga industry, we found that mats and towels were the top sellers. As a yoga instructor, you can post a yoga forum survey, asking them what people want in their yoga products. You will find out if they prefer black paint, a 7 mm thick mat, and environmentally friendly products.
Find A Manufacturer Who Can Make Your Product
Marketplaces such as Alibaba.com make this simple, but finding good ones that will provide you with what you need requires some digging.
When you go to Alibaba and only type in something you’re interested in selling, you’ll find plenty of sellers who supply it already.
Unless you’re dead set to get a US manufacturer, you’ll be hard-pressed for luck. We’re good at a lot of things here in the states, like starting up businesses, voting for evil politicians, and chattering about celebrities … but we’re lousy about creating physical products that can compete with China’s prices. You can tell what you like about the politics surrounding it, but the profit margins are not there to go on most US manufacturers’ goods.
Ship The Items To Amazon
You’ll need a Seller Central Account to do this that costs $30 a month. Best money ever spent, as they will do all the packing, the delivery, the shipping … everything. This service is called Fulfilled by Amazon, which will make life much easier for you.
If you ship from overseas, you may need to work with a shipping carrier to transport the goods from your supplier to the warehouse at Amazon.
Place Your New Product On Sale
It would help if you had a high listing of converts to do well. It amounts to:
- the text on the page
- the images of your new product
- your reviews
Place your products on sale and catch the attraction of your buyers. If you do this better than your competitors, you’ll do very well.
At Amazon, the way you scale is to:
- The keywords rate higher
- I have more new product released.
With time, you rank higher; you’llconversions, ratings, and sales’ll pull you up over time. If you want to rank higher, you can use releases, discounts, deals, and successful marketing to boost sales from off Amazon. To rank your website on google, consider all the ranking factors that entail successful marketing.
Wrapping It Up New Product
Whatever marketing strategies you want to use, don’t lose sight of your three guiding questions in any combination:
- What am I trying to achieve?
- What is the perfect experience I’d like for my clients?
- What kind of resources is there for me to make that happen?
So, when you follow the steps above with diligence, there is a high chance of selling your product with maximum profit within a month.