5 Ways Amazon Sellers Can Better Optimize Their Time
Running an Amazon business is a lot of work. You likely wear many hats and find yourself strapped for time as you find and manage inventory, fulfill orders, handle customer service, etc. etc. The list goes on, and there’s hardly any space left to regularly assess the state of your business or develop strategies for long-term growth.
Thankfully, there is light at the end of your time-strapped tunnel. With the right resources in place, you can optimize and automate key day-to-day business operations and, as a result, focus your time and attention on the big picture: how to grow your business.
Here are five ways to get there:
1. Optimize Product & Price
Finding the right products to sell and determining what to sell them for could be a full time job all it’s own. After all, demand fluctuates based on seasonality, trends, etc. and prices change as a result. It’s a lot to keep up with, but product research tools and repricers can help take the guesswork out of what to sell and for how much.
Product research tools determine which items are in high demand on Amazon, what keywords to use in your listings, and more. Repricers evaluate the optimal selling price based on current demand and automatically update your listing’s price as needed. Together, these helpful tools will prevent you from spending too much time testing products or playing the price-matching game.
2. Master Inventory Management
To achieve growth on Amazon, you need to first make sure you don’t run out of product. At the same time, you don’t want to stock up on too much of it and have your cash tied up in stale inventory.
So how much should you have on hand at a given time? You could spend hours each week crunching numbers (like current inventory levels, sales velocity, reorder point, etc.) — or you could rely on Seller Central inventory reports or third party inventory management software to do the work for you. Doing so will give you a sense for key inventory management stats, such as:
- Low inventory alerts
- How much product to have in stock at a given time
- When and how much to reorder
They’ll even send you alerts when it’s time to re-stock. All this will allow you to take your mind off of stocking out so you can think about other things.
3. Outsource Order Fulfillment
Fulfilling orders comes with its share of busy work: packaging boxes, preparing labels, scheduling pickups with your mail carrier, etc. As important as it is to do, it’s not the best use of your time — especially when you’re juggling everything else and trying to grow your business.
If you aren’t already an FBA seller, it might be time to consider Amazon’s fulfillment service. With Fulfillment by Amazon, not only will they store, pick, pack and ship your inventory, they’ll also provide customer service for each order. In addition to Amazon, there are also third party fulfillment services that provide similar support so you can say goodbye to busy work.
4. Automate Customer Support & Engagement
Amazon puts a premium on customer service. Not only that, in order to maintain your status as a third party seller, you need to (among other criteria) provide the same level of customer service that Amazon itself provides.
One way to do this is by engaging your customers after each sale to confirm shipment and delivery, solicit feedback, and see how — if at all — you could help make their experience better in the future. While this sounds pretty straightforward, it takes a lot of time to implement. And depending on how many orders you get on a daily or weekly basis, is not very realistic.
What you need is Kibly, a virtual assistant of sorts that automates all aspects of customer feedback and turns your customers into raving fans. With features including customizable email templates, 1-click email scheduling, negative feedback monitoring, and more, Kibly allows you to boost your seller ratings with barely the lift of a finger.
5. Maximize Daily Cash Flow
A major roadblock to the success of your Amazon business is cash flow. Needless to say, it’s hard to grow when you have to wait two weeks for your Amazon income. Imagine if you could just cash out every day to keep selling and turning more inventory — you wouldn’t have to spend time worrying about how to fund your next purchase order, plus you’d be able to maintain and grow a steady stream of sales.
With Payability, all this — and more — is possible. Payability is a financing company that provides Amazon and marketplace sellers with daily cash flow and capital advances. It’s all the financing you need to buy more inventory, stay in the Buy Box and take advantage of big opportunities without the risk or hassle of a loan. With daily cash flow, you no longer have to spend hours a day managing cash flow or figuring out how to finance your next purchase order. This gives you even more time to do what you do best – source and sell products. According to Web Retailer, Payability is the quickest way to get your Amazon payments. Unlike loans that often involve lengthy approval processes, Payability requires no credit checks and customers are up and running the same day or the following day. In addition to this speedy approval process Payability uses same day ACH transfers so sellers don’t have to wait days for their earnings to hit their account.
See how this Amazon seller uses Payability to save time, buy more and sell faster, then visit www.Payability.com to learn how you can have similar success. Sellers referred by Kibly will receive a $200 sign on bonus. To discover what real customers have to say about Payability, check them out on Trustpilot, BBB and Fit Small Business.
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