Earn Extra Money – Part III

 

This my third post i.e. Earn Extra Money – Part III where I will be taking you through a new way of making money online. Now a days earning extra money genuinely is not at all a big deal. Even a layman can do it with a little guidance and training. There are numerous opportunities you will get on internet to make money but it’s so confusing that a common man cannot understand it. They think it’s a scam and don’t believe on such things. Even I had the same perception about this online making money. The day I earn few dollar from online I started believing it, it works. The only think you must know is the right way and approach. It will be great if you have one mentor who can guide you to achieve you goal. But I will take you through the detail step by step process to understand how people are marking money online. Internet has huge potential to make money. Coming days I will be posting many different ways that one can make money online. This is my third post on Earn Extra Money and here I will take you through the step by step procedure;

Step1: Choose an eCommerce Site i.e. www.amazon.com

To this business model, I need a ecommerce site, so here I considered Amazon as an example. You can select any ecommerce site of your choice.

The very first thing you have to look for a products which are already popular and people are buying it. You can select any category that doesn’t matter. If you don’t know, how to select the right product to promote online, please read this article “ Best way to select amazon-products for promotion “. It will help you to select the right products to promote online.

Make list of those products, prices, user feedbacks. We will use this information in our next phase.

SanDisk Cruzer CZ36 - Amazon

Step2: Choose a B2B Business Platform i.e. www.alibaba.com

Do you know what is B2B Business? If you don’t, google it you will get the details. In short, it’s a platform where companies are selling their products in bulk to the business owners. So that the business owners will get the products in cheap price and latter sell them at higher price. A very well know B2B company is called “Allibaba.com”, where there are millions of companies are selling their products across the globe.

Browse www.alibaba.com and look for your list of products that you took it from Amazon. Search each product from your list inside Alibaba.com and make note of the price, suppliers name, email id, numbers.

SanDisk Cruzer CZ36 - Alibaba

Step3: Product Comparisons

Now you have prepared two list, one from Amazon and One from Alibaba. It’s the time to compared both the sheets to understand the price variations. You don’t believe, the price difference is so huge i.e. 400/500%. Now a days people are liking this model as very high Return of Investment and very less time you one can setup the business.

In above examples, we searched “SanDisk Cruzer CZ36” in Amazon and Alibaba. The Amazon Price is $20 whereas the Alibaba Price is about $2. From this comparison, you can see the same product is getting sold in Amazon at 10 time’s higher price. So you can think of the ROI of this Business Model.

So what’s next?

Step4: Contact Suppliers

Start contacting the suppliers for the respective products that you want promote online. Either you can email them or make direct phone calls. I would recommend you to make phone calls, so that you will have immediate response and you can ask for the better deal. Sometime email way of contacting takes longer time and response also very sluggish. There are few thinks you must check with the supplier before placing order i.e. Product Delivery Time, Insurance During Transition, Warranty of The Product, After Sales Service Support and Faulty Product Replacements and good quality product images to promote products.

Step5: Create an Online Store and Promote Your Product

Now a days most the ecommerce sites providing online stores platform to those people who don’t have their own online store to sell their product. This service is usually free or some ecommerce sites charging very less amount to provide quality services.

As we have considered Amazon, so Amazon also has this facility. To setup your online store on Amazon, you need to signup their form and apply online. Click Amazon Online Store Registration Process to open an account.

Amazon usually doesn’t take longer time to approve the seller’s account. It’s easy and quick.

Checkout this video on Step by Step Process to create Amazon Seller’s Account

Step6: Product Listening at Amazon Store

Once your Amazon Seller’s Account is approved and live. Next step is product listening. Product Listening means, you need to upload good quality images of the products, prices, delivery details, warranty details and write good description about the products. It will help visitors to check the details about the products and maximum possibilities getting good sales. Good quality images and content is very much required to attract customers. Don’t share any incomplete information. Always maintain transparency and good relation with your customer for long term business.

Step7: Business Promotion and Product Marketing

To run your amazon business successful, you need to promote your products either offline or online. I cannot say it’s easy but not tough too. There are several ways you can start talking about your products i.e. using Social Media, its booming now days. I can say promoting your products in social media can give you maximum exposure and high ROI. If you don’t want to get involved in it, you can always outsource to the experts like Kallol360.com. Kallol360 is a Digital Marketing Consultant, who helps their customers to build their online business and ensured maximum ROI.

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About The Author

Kallol Parida

My name is Kallol Parida and I am the founder of Kallol360.com. I build this site to help people to setup their online business and get maximum Return on Investments. Exploring Digital Marketing is my Passion. I have got expertise on Analysing the Digital Marketing and Marking Strategies for the Startups.

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