All About Selling

How To Earn Profits By Selling Your Products Online?

In this article, we will tell you more about how you can earn money through online businesses in India.

18/06/2022

Have you ever dreamt of starting an online business? If yes, then you are probably wondering how you can earn profits by selling online. Well, we have got you covered! In this article, we will tell you more about how you can earn money through online businesses in India.

Ecommerce businesses are observing a continuously increasing trend in India. According to Ibef.org, India’s eCommerce market is expected to reach Rs. 8.6 lakh crores by 2024, Rs. 15.5 lakh crores by 2026, and Rs. 27.2 lakh crores by 2030.

While this exponential growth in E-commerce created an opportunity for great profits, it also made sure that everyone wanted a piece of the pie. As a first time seller, it can be difficult to get your products noticed or make profits amongst thousands of other sellers. However, with the right knowledge and approach, you can always make decent profits through your online business.

For first time sellers, it is an ideal option to choose reliable eCommerce platforms for their business. An eCommerce marketplace like Amazon India has crores of customers all over the world. Thus, you can always levy benefits out of a large customer base.

Tips to help you choose the right products to sell online:

1. Solve a customer pain point:

You can always develop and sell a product that helps solve the frustration of the customers. If you find an issue with the existing products in the market, then you can always remodel and sell a product that provides a solution.

Did you know Meeta Gupta, a mother of two, decided to start her own brand of toys made of natural materials like wood, which would help in the sensory and motor development of toddlers by providing a good touch and feel experience? She founded Shumee which became an online success on Amazon.

2. Make your products visible:

Many startups believe that they will have hundreds of orders soon after listing their products. However, this is not always the case. It becomes very difficult to be noticed in a virtual marketplace with thousands of competitors and no real interaction with the customer. Thus, you need to be very careful and maintain every minute detail about the product while filing details at the time of listing. Amazon’s Seller University helps you understand the complete process, services, tools, products, and policies of its marketplace. Go through the guide and make a detailed plan. Get the best photos of your products to lure your customers in. Remember, 90% of the marketing is done when you are at the stage of listing your products.

3. Sell products with high-profit margin:

If your product does not have a high-profit margin then it will always get impacted in the long run. Hence, it is important to choose products that give you a decent profit.

4. Analyze your market:

It is always important to analyze your market and your customers before selling the products. Every product will have a separate customer base. For example, you can sell quirky bookmarks to book readers or maternity pillows to pregnant women. When you analyze and talk to experts in your field then you will identify the lack in your product. It will give you ample knowledge about what else to add in your product to make it more appealing to buyers.

5. Maintaining customer loyalty

It is always easier to retain customers than acquire new customers. Hence, you should always focus on having a loyal customer base.

Some tips to can maintain customer loyalty:
Performance - Your customers trust you when you consistently outperform your competitors in pricing, quality, customer service, etc.
Customer reviews - Encourage your customers to give product reviews. There is a high chance of customers buying your product after seeing a positive customer review.
Engagement - Always respond to your customers' feedback and engage accordingly. Thank the ones who give positive feedback and respond to the negative ones.

6. Promote on social media

You can make engaging content on social media to promote your brand. You can also ask your followers to visit your Amazon listing page. Social media provides you with an opportunity to connect with your customers. You can always provide an opportunity for your customers to interact with you about product quality and other feedback.

Seller Tip: You can always reach more customers using Sponsored Ads on Amazon. Those who use Sponsored Ads see up to 82% of their sales driven by new-to-brand customers.

7. Cut out on warehouse costs

You should ensure that you reduce your expenses on the warehouse as it increases the profit. This involves saving on storage charges, low cost shipment and reducing product return. Here are some methodist through which you can cut out your warehouse costs:

- You can have a small warehouse space because less space will require few resources like reduction in cost of labor, rent and utilities.
- You should always balance your inventories well to ensure your products do not get damaged in the warehouse.
- Prefer using second-hand containers for storage as it will be cheaper.
- You can also cut out on shipment costs by finding cheap and reliable carrier services.

You can always reduce your hassle by opting for services like Fulfillment By Amazon (FBA) as it not only provides you with a warehouse, but also reduces the burden of owning one.

A well-planned business will always have a higher chance of success than the one that starts without a plan. Hence, it is important to research thoroughly and make a plan about what and how to sell. Once you have identified what you want to sell and have a strategy in hand, then you can start selling online by registering with Amazon India.

Disclaimer: Whilst Amazon Seller Services Private Limited ("Amazon") has used reasonable endeavours in compiling the information provided, Amazon provides no assurance as to its accuracy, completeness or usefulness or that such information is error-free. In certain cases, the blog is provided by a third-party seller and is made available on an "as-is" basis. Amazon hereby disclaims any and all liability and assumes no responsibility whatsoever for consequences resulting from use of such information. Information provided may be changed or updated at any time, without any prior notice. You agree to use the information, at your own risk and expressly waive any and all claims, rights of action and/or remedies (under law or otherwise) that you may have against Amazon arising out of or in connection with the use of such information. Any copying, redistribution or republication of the information, or any portion thereof, without prior written consent of Amazon is strictly prohibited.

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