Amazon is one of the largest e-commerce platforms in the world, with millions of buyers and sellers. It offers a wide range of products, from books to electronics, clothing, and everything in between. However, Amazon is a place to shop and a platform for entrepreneurs and businesses to make money. In this article, we will discuss some ways you can make money on Amazon.
5 ways to make money on Amazon
1. Sell products on Amazon
One of the most popular ways to make money on Amazon is by selling products on the platform. You can sell virtually anything on Amazon, from your handmade crafts to private-label products. The first step is to create an Amazon seller account, which is free to sign up for. You will need to provide basic information about your business and yourself, and once your account is verified, you can start listing your products on Amazon.
2. Sell eBooks on Amazon Kindle Direct Publishing
If you are an author or have a writing talent, you can self-publish your eBooks on Amazon’s Kindle Direct Publishing (KDP) platform. KDP allows you to publish your book for free, and you can earn up to 70% royalty on sales. You can publish both fiction and non-fiction books, and the process is relatively straightforward.
You will need to create a KDP account, upload your manuscript, cover art, and set the price for your book. Amazon will review your book and make it available on the Kindle store within 24 to 48 hours. You can then promote your book on social media and other platforms to boost sales.
3. Affiliate marketing
Affiliate marketing is when you promote someone else’s product and earn a commission for every sale made through your unique affiliate link. Amazon has one of the largest affiliate programs in the world, called Amazon Associates.
To become an Amazon affiliate, you will need to sign up for the Amazon Associates program, which is free to join. Once you have signed up, you can promote any product on Amazon by creating an affiliate link. You can then promote the link on your website, blog, or social media platforms. When someone clicks on your link and makes a purchase, you earn a commission.
4. Merch by Amazon
Merch by Amazon is a print-on-demand service that allows you to create your designs and sell them on Amazon as T-shirts, hoodies, and other products. You don’t need to hold inventory or manage the printing process; Amazon takes care of everything.
To get started with Merch by Amazon, you will need to apply for an account and wait for approval. Once approved, you can upload your designs and create listings for your products. When someone buys your product, Amazon prints and ships it to the customer, and you earn a royalty on the sale.
5. Amazon Mechanical Turk
Amazon Mechanical Turk (MTurk) is a crowdsourcing marketplace that allows businesses and individuals to outsource small tasks to a global workforce. The tasks can include data entry, research, transcription, and more. You can sign up to be a worker on MTurk and earn money by completing tasks.
The pay for each task can vary depending on the complexity and time required to complete it. However, it’s worth noting that the pay can be quite low, and it may not be a sustainable source of income.
How to start selling on Amazon and make money
- Create an Amazon Seller account: You can choose between two different types of accounts: individual or professional. An individual account is free to set up, but you will pay a fee per item sold, while a professional account requires a monthly subscription fee but does not charge per item sold.
- Decide on what to sell: You can sell almost anything on Amazon, from books to electronics, clothing, and more. It’s important to research the market to determine what products are in demand and have a high-profit margin.
- Source products: You can either create your products or source them from manufacturers, wholesalers, or distributors. You can also consider using Amazon’s FBA (Fulfillment by Amazon) service, which allows you to store your products in Amazon’s warehouses and have them shipped to customers on your behalf.
- Create product listings: This involves providing a product title, description, images, and pricing information. It’s important to optimize your product listings with relevant keywords to improve visibility and attract more customers.
- Manage your inventory: This is to ensure that you always have enough stock to meet demand. You can use Amazon’s inventory management tools to track your inventory levels and receive alerts when stock is running low.
- Promote your products: You can use Amazon’s advertising platform to create sponsored product ads and promote your products to a broader audience. You can also leverage social media and other marketing channels to drive traffic to your Amazon listings.
- Monitor your performance: This is to track your sales, customer feedback, and reviews. It will help you identify areas for improvement and change your strategy to improve your sales and profitability if need be.
Does Amazon pay weekly?
Amazon offers multiple payment options to its sellers, including weekly payments. However, the frequency of payments depends on the type of Amazon seller account you have and the payment method you choose.
Can Amazon make you a millionaire?
Selling on Amazon has the potential to generate significant income, but whether or not it can make you a millionaire depends on the products you sell and how you manage things.
Bottom Line
Selling on Amazon can be a great way to make money, but it requires careful planning, research, and execution. By following the steps outlined above, you can start selling on Amazon and build a successful business over time.
RELATED
How To Make Money On Instagram
How to Make Money on Your Phone
I have been saved times without number from my 20% savings on my salary earned and this I enjoyed using cowrywise application.
I simply want to applaud the initiatives behind cowrywise, and God bless the day I downloaded this app, seamless transactions and activities, this is a one stop shop for investors and planners alike.
Oluwadamilare Akinola.
(Dee3concepts Travels)
A+ for financial literacy.
Thank you Cowrywise!
??
So happy to have you on board ?
I love saving with cowry wise. I have no regret… i have also learnt some things on their blogs concerning savings and investment
So glad to hear that, Blessing. Thanks!
Yayyy ?
I’m a student. Although there are other saving app buh i love cowrywise moreee… So straightforward
Thanks Omowunmi! ??
?
As a student who uses both PiggyVest and Cowrywise, I prefer Cowrywise because it is waaayy simpler. And has more options.
Always teaching its users something. Thank you!
Thank you, Omolola.
Among all other sites and companies, I have been investing I still choose cowrywise as the best . Because,its simple, straightforward, and attend to their customers,thanks to cowrywise we are still looking up to you,
for more development.
I love CowryWise for their regular financial education
I love cowrywise
And introduced it to my friends
Great initiative from Cowrywise
Now i would love to ask where the 10% tithe comes to play in
Well, you get to play around with the percentages when it comes to the 50-20-30 rule. I include my tithe by lowering my necessities to 40%, and also included black tax @ 9%. Just make sure all your categories add up to 100% and adjust where only necessary.
Specially want to thank OPE he’s/she’s been great! Thank you for all the financial advices!
Overall best in financial literacy
I so much love cowrywise especially because they have a plan for Muslims who do not want interest on their savings and I also love their automation
I am always happy and always look forward to when cowrywise will remove my money
Them say debit alert no dey give person joy but whenever it’s from cowrywise am always happy
Please I need your advice on how to get debt free with my income how to spend and Dave to pay up the loans
I always look forward to Ope’s email because their is always something to learn.
I invitatied one thousand I did not see the money or income
Awesome! I loved this app because any time I logged in,it gives me future assurance.
Kudos to you guys (expecially ope) your quote motivated me a lot ❤️❤️ cowrywise
I wanna know about cowrywise investment…I only know about her savings
With little responsibilities, I stay with my parents , my main expenses are usually transport and internet subscription, I’m able to save up to save up to 50% of my salary
Cowry wise is the Best
I love cowrywise and I’ll introduce anyone to it.
I wish to know more about Cowrywise investment
I wish to know more about Cowrywise investment. I have interest in investing. How can I go about it
Cowrywise is very nice ,they do great job
Wow really loved this
A very nice article thanks
Thank you for yet another insightful post??
I have no regrets since I joined cowrywise, since 4years ago, I love it and have introduced many people, God bless you all Amen
The first 200k I was able to save was because Cowrywise made it possible ????.
I love the fact that once a saving plan is set you can never break it till it’s due date.
I remember rushing down to my app to withdraw my money just for me to realize it’s a one year saving plan?? I was heartbroken at then but guess what one year later I was immensely grateful that the money was safe locked without me accessing it.
I have a lot to learn from using this app as I journey to financial freedom, I haven’t officially utilized the investment options but I will definitely give it a good try someday.
Thank you Cowrywise for this awesome opportunity ❤️?
Thanks for always educating me ❤️?
Thank you cowrywise..Thank you Ope
Thanks so much my favourite Savings adviser, Ope, this 50-20-30 plan is an eye opener. I will put into use immediately so that I can be consistent in my savings. Thanks
Lovely write-up as usual, always happy to see cowrywise content