Hello. You may be curious about an Amazon Business Account. Today, I am going to walk you through what it is, if Amazon Business is right for you and how to set up an account!
What is Amazon Business?
We have all used Amazon before for online shopping. This huge company will sell you everything from inflatable pool rafts to expensive jewelry. The best part about Amazon is quick shipping and affordable prices. As a business owner, you may have ordered supplies or equipment from Amazon, for your company. Amazon Business is great for small, medium and large-sized companies.
Here is a little more information on what the Amazon Business program is.
Amazon 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 could also count on free two-day shipping on" tens of millions" of eligible items, multi-user business accounts, approval workflow, payment solutions, tax exemptions, dedicated customer support "and much more."
The main thing you need to remember about Amazon Business is that it provides users with a purchasing solution for their business. Each business can assign users that are allowed to buy business supplies on Amazon on behalf of their employer. The administrator can add authorized users, or remove them, as well as manage payment methods.
Amazon Business is personalized and tailored for you and your business needs. Such as, 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. It also includes business-tailored features, such as approval workflow, payment solutions, tax exemptions, dedicated customer support, and more.
Read also: What is Amazon Prime? - CNET
Is an Amazon Business Account Worth Signing Up For?
Great question. There are pros and cons to any membership with Amazon. 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.
Benefits & Features of an Amazon Business Account
- Customized browsing and searching based on your business type: Amazon uses an AI to help customize your shopping experience to find products that match your business type.
- Amazon Business Card: Choose to earn rewards or take more time to pay interest-free on US purchases as Amazon Business.
- Quick Business Prime Shipping: Free Same-Day, One-Day, and Two-Day Shipping on eligible items for your business.
- Exclusive Business pricing: Select prices and quantity discounts on eligible items for your business.
- Business-only discounts: Quantity discounts above what you normally find on Amazon
- Exclusive Items Not Offered on Amazon: Business-only item, including hard-to-find items like traffic signs, industrial deep fryers, antibodies, 55-gallon steel drums, dent pullers, and more.
- Single or Multiple Business accounts: 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.
- Purchase approval workflows: Create approval workflows to enable better spending controls.
- Purchasing system integration: Integrations with third-party procurement solutions.
- Purchasing analytics and reports: This gives you the ability to look at spending activity and total costs on purchases at the individual, purchasing group, or type of spend level.
- Price comparison options: The interface will show you multiple prices and brands in one spot for a certain product. This helps you to avoid wasting time by clicking around to find the best deal on a brand you love.
- Tax exempt purchases: Make tax-exempt purchases and manage tax exemption permissions across an organization.
- Order tracking: Add purchase order or reference numbers to purchases to assist with reporting and account reconciliation.
- Amazon corporate credit line: Place orders and finance purchases using a credit line.
- Amazon Business customer support: Amazon customer service dedicated to registered business shoppers.
(Pictured: Amazon Business Logo)
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.
How To Sign Up For 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.
Registering for an account is very simple. You go to the Amazon Business Website (click here to open it in a new window) and click create a free account.
Next, you enter information such as your name, work email, and create a password. Lastly, you will be asked to enter information such as your full name, business name, business phone number and so on. Creating a free account will take you less than 10 minutes!
Read also: Pros and Cons of Selling on Amazon - Forbes
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.
If you think an Amazon Business account is for you, check out more information and sign up for a free upgrade to your Amazon account today.