Amazon’s marketplace is huge, and learning what steps to take to be highly profitable can take a lot of time and effort. You need a mix of tools and people skills to make sure that you’re doing all the right things. If you aren’t using both of those things you’ll end up missing out opportunities to make money and no one wants that. Making less money is never any Amazon seller’s goal.
Fortunately, there are plenty of tools out there like an FBA fee and profit calculator which will be able to help you stop guessing about FBA fees. Guesswork on things like how FBA costs are going to affect your profitability won’t get you anywhere. There’s a lot to figure into those so you’ll want to make sure you’re using FBA fee calculators and other similar resources.
You’ll also want to make sure you have some great customer service skills and personality traits that you can effectively use to manage your business. If you don’t know your Meyers Briggs personality type yet, taking the time to figure that out can give you some great insight.
You can use that information to see which skills you’re going to need to develop or which skills you already have. You’ll be able to understand more about which personality traits you have will be your biggest assets. Are you better with leadership skills than communication skills? These are all things you’ll need to know.
Between actual tools like the FBA fee and profit calculator and understanding what your personal strengths are after getting your Meyers Briggs information you have a lot of valuable information to use. Stick around and see how both actual tools, and your personality traits will directly affect your ability to succeed as an Amazon seller.
Knowing Your Own Meyers Briggs Strengths (And Using Them To Succeed):
Just because you’re selling online doesn’t mean you’ll be able to avoid working with people. You’re still going to need great customer service skills, and if you have a team of people working with you, you’ll even need things like great management skills. You’re going to have to be just as focused on your people skills even with an online selling platform like Amazon.
Things you’ll need to be especially vigilant about include negotiation skills and conflict resolution skills. Without understanding how your personality ties into learning to use these skills you’ll be a little directionless. This is why it’s valuable to take the time to research your personality type before you try to decide which traits you’re going to focus on developing.
Extra focus on conflict resolution skills is highly important because no matter your selling platform, eventually you will have an upset customer. If you aren’t using efficient and helpful resolution skills, that customer is going to stay upset, and they’re going to tell others about their bad experience. On Amazon, this means you’ll end up with a permanent negative review.
Since review scores are a huge part of how you’re going to remain profitable, it’s important to make sure you are resolving things quickly and with great skill. A customer that is contacted and offered solutions to their complaint quickly and professionally is more likely to change their review.
Amazon gives customers 60 days to update reviews so being able to resolve a problem really does directly affect your profitability on Amazon. You’ll have to work on being professional, positive, and offering workable solutions. Without these skills, your business isn’t likely to go very far at all.
Using An FBA Fee And Profit Calculator:
Since you’ve already read about this one a little bit it’s a good idea to learn a little more before you get too deep into research mode. FBA (fulfillment by Amazon) fees have so many varying factors involved it’s just impossible to figure out the costs of FBA services on your own. You can’t afford to leave this important number up to guesswork either.
An FBA fee calculator takes every aspect of your FBA costs into account. The size of your product, how long it’s been in the Amazon warehouse, and all other relevant factors. It will give you an accurate (not relatively close guess) cost for your FBA items. An FBA fee calculator can also help you figure out the best pricing for your item.
There’s a fine line between making sure your price is competitive and losing money because you priced yourself too low. With an FBA fee calculator, you’ll be able to see what price is going to give you both a good value to your customers, and still ensure you’re making a profit. Again, not something you want to use guess and rounded numbers for.
Spend some time learning about FBA fee calculators and how they will work for you. Then make sure you’re using the FBA calculator any time you want to update your listings. It’s an essential part of the tools you’ll need to be profitable on Amazon.
Using AMZ Tracker:
Your product listings and descriptions are a huge part of where your product is going to end up in search results. AMZ Tracker can help analyze keywords and show you which words are best for your product. There are other keyword trackers available out there but AMZ Tracker has been around the longest so it has the most robust database.
AMZ Tracker can also help you figure out where your items are currently ranking on Amazon search results. This is a good thing to know because you don’t want to make changes to something if it’s already ranking very well for its category. If it’s not broken, don’t fix it, right? Spend a little time working with AMZ Tracker to get the most optimized listing information.
Not to be confused with AMZ Tracker, AMZFinder is going to help you resolve those negative reviews you read about earlier. Yes, you’ll need the right skills (which you’ve read about already) but you’ll also need to make sure you’re reaching out to the right customer. Sometimes the name you shipped an item to isn’t the same as the name of the person leaving the review.
AMZFinder helps match up negative reviews with the right order numbers so you can reach out to the right person. Remember when you reach out that you need to be calm, courteous, and professional. If you’re annoyed or angry about the review take some time to calm down first. Then reach out with solutions for the customer.
Refunds, replacements, or whatever you think is going to make them happiest. You won’t always be able to please every single person every single time, but you can make a big difference in your review ratings by reaching out quickly.
Customers want to feel important to you (and they are important to you) so don’t miss this chance. AMZFinder is invaluable in what it can offer you in terms of conflict resolution opportunities.
Don’t Forget Your Time Management Skills:
If you are someone who is easily distracted it’s time to start working on your time management skills. Being an Amazon seller can be a busy life to lead. You have a lot of things to do. It’s not a method of income that can just be listed and forgotten about. That’s not a bad thing but it does mean you’ll need to manage your time effectively.
Figure out what kinds of methods work well for you when it comes to managing your time. If writing a list is what works, go with that. If something like an online planner is more effective for you, that’s another great option. The point is just to make sure that you’re getting things done, and that they’re getting finished in a timely manner.
Everyone gets behind once in a while. The thing to keep in mind is that you need to stay focused on work when it’s time to get your Amazon tasks done for the day. Because you don’t want to realize you forgot to reach out to a customer to answer their questions at midnight when you’re exhausted, time management skills are essential.
Take some time now to think about what you currently are doing to make sure you get everything done. If you find that you’re already being effective about managing your time that’s great. If you realize you need work (most of us always need work in this area) then take note of what you’d like to try and go from there.
Investing time in your time management skills will result in being more profitable and you’ll start to see how quickly you can get things done when you’re focused. It’s going to be worth any growing pains associated with adjusting to being more organized and focused. It will literally pay off in the end.
You’ll always want to continue developing your skills as a seller. That will involve learning about tools like your Amazon fee calculator or review analyzers. It will also involve learning more about the skills you have as a person and where you need to focus some energy developing those skills. As you can see from what you’ve read, both things are equally important.
Sometimes the changes you make can take a little time to show up in results so don’t lose hope if you aren’t seeing drastic results the very next day. Keep using the tools and skills you’ve read about here. Stay focused, and remember that your hard work is going to be worth all of the effort when your profits start to soar. Happy selling!