Is it really possible to save millions on company purchases with Amazon Business? If you’re having trouble with your current vendors then Amazon Business will help you save money while getting your supplies quickly and efficiently.
How To Set Up An Amazon Business Account:
Before you can go shopping or selling on Amazon Business, you need to register for an account, which includes providing some information about your business. To become an Amazon business customer, please visit business.amazon.com/ and create a new business account. You can also update your existing personal account on Amazon.com to a business account.
Here are step by step instructions:
Step 1: Open the Amazon Business Membership Page in a new tab.
Step 2: Click the button that says "Create a free account".
Step 3: Type in your work email.
Step 4: Enter your full name and choose your business password.
Step 5: Verify your email address.
Step 6: Enter information such as your full name, business name, business phone number and so on. Now it will take a day for Amazon to verify your business by contacting your phone and email.
Congrats, you have successfully created an account on Amazon Business!
You can then manage your account information, sign up multiple users, and organize people into groups (like by different departments) to keep them separated. You can even designate different payment methods and spending limits for each group or user.
Amazon Business also allows you to set up approval workflows if you'd like to be notified of purchases or have a supervisor approve any or all purchases through the platform. Also, if you're a non-profit or any other business that gets tax-exempt status on purchases, there are options for that too. Anyway, once you've set all that up, it's time to shop.
What is Amazon Business?
- Amazon Business is, "providing easy access to hundreds of millions of products – everything from IT and lab equipment to education and foodservice supplies – as well as business-only selection and pricing."
Amazon Business customers can also count on:
- free two-day shipping on" tens of millions" of eligible items
- multi-user business accounts
- approval workflow
- payment solutions
- tax exemptions
- business-ready purchasing analytics
- dedicated customer support "and much more.
Read also: What is Amazon Prime? - CNET
Why Should You Sign Up For A Business Account?
It may or may not be worth it depending on your business goals. There is a free plan for Amazon Business and you have the following capabilities:
- Manage all the users on your Amazon Business account
- Save preferred suppliers for easy purchasing access
- Establish order-approval procedures and spending caps
- Make a company credit card accessible to certain account users
- Opt-in to Amazon Corporate Credit
- Integrate purchasing systems so your customers have a punchout option
- Set certain qualifying purchases for consolidated delivery on a pallet to your doorstep or dock
Plus, Amazon Business got a 4/5 stars with 70+ ratings! I think it's worth trying the free Amazon Business version & possibly upgrading to Amazon Business Prime.
The main reason to become an Amazon Business member is because of how much money you can save by shopping & selling on Amazon Business. Similarly, Amazon Business gives you the tools to help manage your business easier. In my opinion, signing up for an Amazon Business Account has been worth signing up for. I use Amazon Business and it has made my life simpler. My recommendation is to sign up for an Amazon Business account and try it out for a month. That way, you can see if it is helpful for you & your business. If it's not valuable for you, it is super easy to cancel.
Read also: Pros and Cons of Selling on Amazon - Forbes
Difference Between Amazon Business & Amazon Business Prime
Amazon Business is a bundle of features Amazon offers exclusively for businesses of all sizes. Signing up for and using the service is free. Amazon will verify that you do indeed have a business, so you’ll have a short waiting period before you’re up and running.
After you’re verified as an Amazon Business customer, you become eligible to purchase the Business Prime plan, if you wish. Business Prime enhances Amazon Business, giving you more flexibility on delivery and payment terms.
Amazon Business Account Perks
There are various benefits and perks which business members get when they subscribe to Amazon Business Prime. Some of these benefits include;
- Better and discounted pricing exclusive for Business Prime members as well as Prime Day offers
- Businesses can use AWS QuickSight to visually analyze their spending trends and expenses
- It offers account administrators with a unique guided buying procedure by allowing them to consolidate suppliers and select certain products and services which are usually ordered.
- Business Prime members are given a non-annual fee Amazon Business American Express card
- Businesses enjoy extended terms for pay by Invoice from 45-60 days depending with the plan
- Business delivery is also enhanced for members as they also enjoy same-day or two-day shipping on all eligible products. For bulk orders, a consolidated delivery is done so that you can easily get all your items delivered to your doorstep all at one.
Is Amazon Business Worth It?
If you are a business entity, registering for Amazon Business is worth the cost. It offers unique features to members such as purchasing analytics, guides, and business-only pricing on certain eligible products.
The following are the Amazon Business Prime plan packages (upgrade from Free Business Account) that you can choose from:
- Essential Plan- Subscription fee is $179 per annum and it supports up to 3 users
- Small Plan- Subscription fee is $499 per year and it supports up to 10 users
- Medium Plan- Subscription fee is $1, 299 per annum and it supports up to 100 users
- Enterprise Plan- Subscription fee is $10,099 per annum and it supports over 100 users
- Public Sector Plan- Subscription fee is $3,499 per year and it supports over 100 users also
Other benefits that makes Amazon Business worth include; Multi-user account, enhanced delivery and shipping time and purchasing policy controls. The efficiency it offers account administrators and the discounted pricing on eligible products saves you money and time in the long-run.
Downsides to Amazon Business
Here are some of the Cons that come with selling on Amazon Business:
- More Fees Which Reduce Product Margin. With Amazon Business, you may pay 6 to 15 percent in fees, with a few exceptions for items that are typically not sold as business products. This does not include fees for Fulfillment by Amazon.
- Product Differentiation is Harder. By selling on Amazon, you can't differentiate yourself as easily. Similarly, you can't interact with your target market and end consumers and explain why they should buy from you. On Amazon Business, buyers can easily search for the lowest cost vendors and purchase from them.
- Buyers Become Amazon's Customers, Not Yours. Amazon limits how sellers can communicate with customers. As a seller, you can't easily communicate with your customers. Similarly, you don't have as much freedom to include packaging inserts and other marketing materials. It will become more difficult for consumers to understand your brand because Amazon has more control of the buyer-seller relationship.
- Product Data and Technical Information. It can be difficult to effectively upload product data into Amazon Business. It becomes a very technical and tedious task which you may have to outsource to an IT company. Each product category has its own rules. The way you set up your product data will affect how well it sells and appears on Amazon.
Although there are a few downsides to Amazon Business, it still may be worth it for your business to set up an Amazon Business account. Unlike Amazon Prime, it is free to sign up for an Amazon Business account! I recommend signing up and evaluating if it works well for your business.
What Is The Amazon Business Credit Card?
Amazon Business launched a credit card with American Express! Here are some benefits of an Amazon Business Credit Card:
- Earn up to $200 in savings.
- Get a $100 Amazon.com Gift Card† upon approval.
- Plus, earn an additional $100 statement credit after you spend $3,000 on the Card in the 2% Back and 1% Back categories in your first 3 months.†
I suggest reading through the terms, conditions, & disclosures to get a better idea of the American Express/Amazon Business credit card's interest rates, APR, fees & more.
How To Apply For An Amazon Business Credit Card
All Amazon customers seeking a business purpose Card are welcome to apply—not just Amazon Business customers. The Card benefits are designed for the needs of business owners, and Card Members who also have an Amazon Business account can take advantage of the enhanced data views available with the Card. If you are approved for the Amazon Business American Express Card, you will have the opportunity to take advantage of expedited registration for a new Amazon Business account (if you do not already have one). Here is a link to take you to the Amazon Business Credit Card Application Page.
The reviews for the Amazon Business Credit Card are pretty positive! I recommend reading through the comments before applying. A little additional information never hurts.
To sum up this article, an Amazon Business Account is a multi faceted selling/buying platform for your business needs. With your Amazon Business Account, you can create a single or multi-user business account, invite additional users to join, and define groups of users to share payment methods and shipping addresses. The Amazon Business Account also includes business-tailored features, such as approval workflow, payment solutions, tax exemptions, dedicated customer support, and more.