Checklist for Amazon sellers
Selling on the giant Amazon is profitable to all and is easy if you follow Amazon guidelines every time. Amazon is strict to its sellers and obligates them to follow since the very first moment you register on your seller central account on Amazon. It starts monitoring your performance order metrics at the same moment.
When you register on Amazon, you need to some a few documents including your identity proof, bank details, brand registry (for your brand), product ASINs and many more. This documentation process sometimes troubles the Amazon sellers and especially to novice ones. Missing to any of the papers or information might cancel the registration of your account on Amazon.
Understanding the scenario, we are giving you an important checklist to prepare yourself as a strong Amazon seller who will not be having any issue in submitting the documents. With this checklist, you can save your time and focus on your business goal i.e. to generate sales and profit from your Amazon storefront.
Here is the Checklist
1. Accumulate the papers: Some papers you will need at the start of registration while some you will need at the time of listings while some are important at the time of brand registry. For signing up for the seller central account, you will need some documents and papers.
So let’s collect all the important papers and information listed below:
- Your Name/Business name
- Business name
- Credit Card details
- Tax ID and State Tax. But if you are selling as a company, you will need a Company’s Federal Tax ID
With the above documents, you can register yourself as an authorized Amazon seller and soon you will start selling on Amazon. Missing any document will not take you further in the selling journey of Amazon.
2. Prepare Your Inventory: Congratulations for being an Amazon seller and passing a documentation process. Now, next comes the inventory management. You need to maintain the inventory in your Amazon store so that you never run with the out of stock condition. Also, at the same time, Inventory forecasting is useful. It helps in estimating the inventory for future so that you can know when and in how much quantity you will need the products in your store to update.
3. Be ready with your Pricing strategy: Since you are launching your store, you will be new in the market and therefore you need to make yourself stand different from others so that the customers can consider you for the first time. Here the pricing of your products plays an important role in attracting or repelling the customers. Make your pricing strategy such that it can be cost effective to your customers as well as profit making for you too. Keep in mind that charging extras for shipping put a negative impact on online buyers. Be careful in making pricing and shipping strategy.
4. Get ready with marketing and advertisements strategy: Being new in the competition, you need to put extra efforts in marketing and advertising your products so that the customers can know about you and your services. Advertise your products through Amazon ads services, PPC campaigns and by using social media platforms. Also, you can use Amazon Brand Page for promoting your brands.
5. Logistics Management: Once you have set your Amazon store with the inventory and products you want to sell, the time starts you will be getting online orders for them. While selling on Amazon, you can either use MFN or FBA. If you have your own warehouse then going with MFN will work and therefore you will require your logistics team who is all set to dispatch and deliver the orders to the online buyers. On the other hand, if you don’t have space for storing your inventory then to access Amazon warehouse you need to register for FBA service.
6. Return Process Knowledge: Hope everything will go good, but what if any customer will request for return and refund on Amazon. You better know that Amazon is strict to its sellers to serving its valuable customers. Therefore, before going ahead you should be aware of every rule and policy of Amazon. You should have your mind clear on how return and refund take place on Amazon. In future whenever you got stuck in such a condition, you can deal it precisely without letting no one disappointed. Neither Amazon nor your customers.
Mark every point mentioned in your checklist and get ready to hit the Amazon floor. We have listed the very basic requisites for selling on Amazon. Covering all the points will take you to the set path of online retailing. When you come with all the preparations, your online journey will be smoother.
Even if you feel somewhere helpless or need any assistance for online retailing and Amazon guidelines, just ask us. We at evantage are Amazon service provider with an efficient team and Amazon Store administrator who has complete knowledge of Amazon and works with the sales-boosting policy.