Learn the proven strategies and expert tips to find a profitable niche for your dropshipping business. This guide will help you identify lucrative product categories, conduct market research, and select a niche with high-profit potential, setting you on the path towards dropshipping success.
Posted May 25, 2023
9 min read
Affiliate Marketing, Amazon, Amazon, Ecommerce, Marketing
How To Make Money On Amazon In 2023 - 13 Killer Ideas
Why Make Money On Amazon?
Since the beginning, Amazon has made about 344 billion US dollars of gross market value virtually, as compared to any eCommerce site that fails to make as much money. As of 2017, the sales on Amazon accounted for 20% of total eCommerce sales in retail, beating other versatile options, whether selling or generating income via products and services.
As for the customers, about 89% of the US customers are likely to purchase products from Amazon as to the other eCommerce sites that are available online. This is due to its long history as marketers and the trust-building with its customer’s long-term loyalty.
How To Make Money With Amazon?
Listed below are 13 killer ways that will help you earn an income via Amazon, whether you sell on the platform or not!
1) Through Affiliate Marketing
If you aren’t selling any product on Amazon but wish to generate an income out of it, the Affiliate market is the best way to. One of the most straightforward ways, Amazon’s affiliate program has been observed to spread worldwide.
But what is affiliate marketing? This is a process where you recommend products on Amazon in the product category in the most appealing way to your audience that attracts them to purchase the product in question.
If the audience makes a purchase using the affiliate link, a commission is provided to you and between 4% and 10% of the product’s purchase price goes to the Amazon affiliate. If you choose to become a part of the Amazon affiliate program, you are assured a user-friendly platform as it’s easy and highly lucrative.
Allows you to make a lot of money without selling anything
Is easy to start and maintain
The presence of an audience is needed to generate income
2) Amazon Handmade
Amazon Handmade is where a seller can sell clothing, jewelry, accessories, art, and other artisan goods that they want to sell. It provides a custom URL that makes it easy for the customers to find your shop in the virtual world.
Amazon services make it super convenient and affordable for handmade sellers to sell on Amazon with a payment of $39.99 a month.
Is the best choice for artisan makers
You aren’t required to pay until you actually earn from Amazon
Provides you with a custom URL with the subscription for easy reach
3) Amazon Merch
Merch by Amazon helps you to sell t-shirts, hoodies, and other designs, without any payment. The best part about merchandising with Amazon is that they take the responsibility for printing, shipping, packaging, and supporting the customer, all with your design.
To get on board, you’d need to create an account, upload the designs along with the cost, description, and color. As and when your product sells, you will be given royalty.
It is absolutely free to upload your designs and sell products on Amazon
Get your designs on the products without having to make
Amazon takes responsibility for shipping the products and handling customer satisfaction
Will be provided with a unique product page on Amazon
4) Kindle – Direct Publishing For Writers
Are you a writer? Do you have a team of writers? If yes, then you no longer require the attention of a publishing house as you could do so on Kindle, on their platform. Here, around 70% of the royalties are provided to you and hard copies are printed too.
However, on the other hand, some writers create a steady stream, but to succeed throughout, you will need to provide a steady stream of content. Prolific writing is considered to be the money-making area.
Also, unlike the other products on Amazon, your book will require to sell on itself with you handling the marketing as there is no publisher on Amazon to word it out.
You will be given about 70% of the royalty on sales
The prolific writer has the potential of earning high income
The digital prints and hard copies are available
5) Fulfillment by Amazon
Amazon FBA is an excellent way to make money on the platform, that too without worrying about the shipping or customer support. Here, the products that you wish to sell are stored in an Amazon warehouse, and they will take over after the products are shipped.
However, at Amazon FBA seller, you will be charged per unit, weight, and size of the product. Additionally, you will also be charged a storage fee monthly.
No hassles of packaging and shipping to individual customers
Low-cost provided the product isn’t stored for too long
The perfect option to make money online for a short period
6) Amazon Mechanical Turk
Amazon’s Mechanical Turk is the best option for those who are looking to get involved with few initial investments. Selling products with Turk allows you to become a remote worker in Amazon’s vast army with active participation in surveys and validating content.
Best way to make money by doing small tasks around the other activities
No need for an established following
The tasks are rather simple and fun
7) Retail Arbitrage
Retail arbitrage gives you the advantage of discounts that are offered by big box stores to help you make a profit via Amazon and make a significant percentage of income for most products.
Simply use your smartphone to scan the barcodes to calculate the FBA revenue and determine if any item is worth selling on Amazon.
Allow you to make money by shopping and reselling items on Amazon
Allows you to take advantage of the local deal knowledge
There is no need for special skills or any huge investment
8) Making Money On Amazon By Selling A Service
That’s right! You don’t always need a product to curate income for yourself. If you have a service that you can offer to Amazon, you can earn a good income. A service could be anything, such as a music tutor, artist, etc, Amazon helps you connect with potential clients.
Here, you need not pay an advertising or start-up fee, or even a monthly subscription. But will require general liability insurance with an occurrence cap and a cleared background check of the business.
Additionally, the services provided to homeowners would also require a background screening and Amazon’s share depends on the service you provide, as well as, how much you make. In case you do not wish to deal with advertising or creating a website on your own, Amazon could help make it for you.
No need to make a website and advertise your skill to make your service available
You pay as per what you make
9) Curate A Brand!
All you need to do here is simply choose a product that you love, place an order to the manufacturer, induce your brand and logo and become a brand seller!
The best part about making your own brand is that you are free to create a list of products on Amazon and price it at whatever seems competitive to you. As an Amazon seller of your own brand, you get the autonomy of controlling your own products. And, to protect your private label, try and register your brand with Amazon from counterfeiters.
It’s hard to compete on Amazon, however, if you can produce a product that is unique and has an edge in the market, then you can make a lot of money by simply selling the branded products on Amazon. Make sure to type in an effective product description to compel the buyers, click attractive pictures, attach good offers, and get ready to gain popularity on Amazon.
You are in charge of your product and price
Offers substantial income in case the manufacturing cost is lower than retail prices
10) A Wholesale Seller
A wholesale seller purchases the products at a discount only because they purchase in very large quantities. If you choose to become a wholesale seller on the platform, you can sell these products at an affordable price on Amazon and produce a valuable income for yourself.
However, the platform becomes rather competitive as these wholesalers tend to purchase in bulk and outcompete each other by selling at the lowest line prices. Due to which most won’t be able to produce a significant income unless they have their own warehouse space to store these products and not rely on the FBA program and Amazon’s warehouse.
As a wholesaler, you have an opportunity to make large amounts of money with a single investment
There is a passive income between bulk purchases and shipments
No need to advertise or build a website if you do not wish too
11) Online Arbitrage
Just like physical arbitrage, an online arbitrage works in the same way with only the customers purchasing products online. This is the best option if you do not wish to rush to the retail stores quite often.
You can make money on Amazon by selling these products at a higher value. Also, via this retail arbitrage, you will be able to turn around the inventory by offering a competitive rate when selling on Amazon.
Make money on Amazon with low investments and fast turnarounds
There is no develop anything to generate income
There is no need to run to a retail store
12) Trade-In Program By Amazon
You may not be able to make money on Amazon with this trade-in program but you will surely be able to get Amazon gift cards.
This is the best way to make money on Amazon, but you’d need to keep a close eye on the local garage sales or anywhere that will help you get items at a low price. This means, as much as 25% of the product’s original retail price as credit!
Amazon is rather selective about what they take, so, as you begin to participate, you’ll be able to get a better idea about it. Remember that the niche items are often in higher demand. Fortunately, these are just those items that can be found affordably at a garage sale or on eBay.
You will be able to earn Amazon gift cards for the objects trade-in instead of selling
An opportunity to earn 25% of the original retail price of the products you turn in
The niche items or the ones with fewer sellers are often sold in higher demand
13) Amazon Influencers
This is an affiliate program that varies from Amazon Associates and promotes the products on social media too provided you have a strong social following. If yes, then the Amazon influencer program may be right for you in that case!
As influencers, you’d receive a unique URL on your Amazon page to promote the product online by recommending them to purchase and use it from Amazon. Do so on either – Facebook, Instagram, YouTube, or Twitter and earn a commission.
Note – The trick is to identify a product that the audience or the potential customer would find appropriately.
You only need to be verified with a good number of the social media following
Custom storefront with your URL on Amazon
Is easy to earn as long as you maintain your social media
We hope that the article above has helped you learn of the various ways to make money on Amazon. Be wise of the ways to make money and earn money through the well-established Amazon business!
FAQs: How To Make Money Online On Amazon In 2023 – 13 Killer Ideas
1. What are the other ways to make money online in 2023?
Listed below are the other ways to make money online in 2023:
Become an influencer
Try and Publish an Ebook
Create side gigs
2. Is it possible to make money on Amazon 2023?
Yes, it is possible to make money on Amazon in 2023. The best way to do so is through private label sales by using the fulfillment-by-Amazon (or FBA) network. About 71% of the Amazon sellers run their business via private labels, create their product, and sell it on Amazon using FBA.
3. What are the ways to make money on Amazon without selling?
Here are 7 best ways to make money on Amazon, without selling:
Merch by Amazon