Grow Faster By Building Your Seller Reputation
by Becky Trowbridge, on May 16, 2018
You know that having a strong Amazon seller reputation is important for a variety of reasons, from sales conversions to eligibility for special programs such as Seller-Fulfilled Prime. But have you ever considered other ways that you might be able to benefit from having a great reputation?
Reputation Really Does Matter
If there’s a chance you might want to sell your business down the road, building a spotless reputation can make that process much simpler…and more lucrative. But perhaps a less tangible advantage of an excellent seller reputation is that it can help you save cash and reinvest in your business today.Liz Fickenscher and I recently chatted with the Payability team about a new opportunity for sellers who are looking to grow their businesses quickly. “Having excellent reviews and a good reputation as a seller can help you get the financing you need to speed up your supply chain and scale your Amazon business faster,” said Vicky Sullivan, Marketing Manager at Payability.
In fact, the folks at Payability consider seller feedback and other aspects of a seller’s reputation on Amazon when determining what kind of pricing they are eligible for. If you’re looking to boost your business or need more cash flow to keep inventory in stock, they offer some great options.
How Payability Works
Payability is a financing company that provides high growth Amazon and eCommerce sellers with daily cash flow. In fact, you can get next day access to your Amazon sales with Payability, rather than relying on Amazon’s regular 14-day schedule. Every business day, the company provides sellers with 80% of their Amazon earnings from the previous day; the remaining 20% is reserved to cover returns and chargebacks. Those funds are released to sellers on Amazon’s 14-day schedule. Payability typically charges a 2% flat fee on gross sales, but sellers with over $50,000/month in sales qualify for even lower rates. Since the underwriting process is based on your Amazon account health, your seller reputation could save you money.
Having instant access to sales earnings allows Enterprise sellers to negotiate for better deals with their suppliers. “Since they always have cash on hand, they’re able to pay for inventory right away. This buying power can result in free shipping from suppliers, 10% off orders and help sellers build even better relationships with their suppliers,” said Kevin Weeks, Head of Business Development at Payability. “They also never run into situations where they need to place a large order, but don’t have the cash."
If you have a product that is quickly gaining traction, accessing your Amazon earnings early could give you the opportunity to truly dominate your niche. It can also free up funds for advertising on the Amazon platform to help shoppers find your products.
Ready to Cash In?
A recent Marketplace Pulse study found that daily cash flow from Payability helps sellers increase inventory and the number of products they offer. It also has a direct correlation to seller rank, positive feedback and overall account health.
If you’re already using FeedbackFive to manage your seller reputation, there’s a good chance that you’re eligible to take advantage of Payability’s great rates. Click here for a $200 sign on bonus!