Jason Kumpf International Ecommerce Expert Tips:
Best Free tools to improve your international Amazon Business: OFX Global Payments plus others
As they say, ‘The best things in the world are free.’ Same applies to the tools for business expansion available for free online. Before shelling out extra cash from your pocket, try some of the free tools available to improve your international Amazon Business.
Let us understand OFX global payments before discussing the free tools.
OFX Global Payments can offer online sellers, such as Amazon Seller local bank accounts in the currencies and countries they conduct business in. This enables them to receive funds form their merchant processor in the same currency avoiding that merchant processors foreign exchange fee. Then they can transfer the funds at a better rate with OFX, saving approximately 50%, securely, instantly and easily.
The Amazon Seller Tools & Services has compiled a list of powerful tools to increase the sales and profits for your international Amazon Business to make your job easier. The list includes inventory management, repricing and multi-channel selling among tried and tested practices.
The purpose of creating a record of tools and services is to provide solutions to those seeking the development of their business Internationally.
We have gathered information about some popular tools which will help you make the right choice:
Free Helpful Tools to Improve Amazon Business:
Google Keyword Planner is one of the best free tools available that does not let the keyword data reveal the intent behind the search.
“iLoveToReview” along with its product partners, has gifted a large number of expensive products for free and on discounts. That’s how they have become the most sought after services after Amazon seller services.
Fulfillment by Amazon Revenue Calculator
Another great tool from Amazon is Fulfillment which provides the facility to check how your Amazon FBA fees would allow you to see a product through FBA. FBA calculator describes the costs associated with Amazon’s Fulfillment program vs. tackling an alternative fulfillment process.
Pro Tip: The calculator reflects the exact estimate of Amazon’s charges because the calculator is maintained by Amazon itself.
The Amazon Vine program requests reviewers to share their thoughts on free yet newly or pre-released products to help customers get the best shopping experience. As per Amazon, all Vine reviews are individual opinions of the Vine Voices as the official reviewers chosen by Amazon. Sellers are not entitled to edit, modify, or influence the product reviews. Amazon has clarified that as long as the posted reviews adhere to the Vine guidelines, they don’t edit or modify any reviews.
Amazon Vine offers services with 3 levels:
Basic: This service introduces enrollment of five products
Plus: This service enrolls ten products
Premium: This service enrolls twenty products
This app displays Amazon buyer keywords. Whenever you will tipe the keywords into the Amazon search bar, auto-complete will automatically finish typing it for you. This free tool collects keyword concepts from a multitude of resources such as Latent Semantic Indexing (LSI). However, if they don’t match Amazon keywords, it filters them out.
It allows sellers to eliminate words to make the keyword set more relevant, but there is no numeric value associated with the keywords and the service, so it can take a long period to run a final report.
Sonar by Sellics is a free keyword research tool by Amazon comprising of a database that contains about 72 million keywords extracted from search queries of regular Amazon buyers. You can also gauge opponent’s keywords through free reverse ASIN search.
This free tool delivers data suggestions for Amazon, Google, Bing & YouTube. The advertisers may get data on all four networks, simultaneously. It also reminds some helpful suggestions for added keywords.
Summary
Best tools for Boosting Amazon Business through OFX and other tools are given below:
- World First:
World First is a web money transfer service created in the UK in 2004. Ever since its inception, it has transferred over $56 billion across the globe and has served around 75, 000 regular clients. The satisfactory and versatile services keep the customers come back with more of their business.
Pros
- Cut-throat exchange rates
- Provides forward contracts, spot contracts and hedging choices
- Offers updates on market exchange rates every week
- Rate lock available for on-going transactions
- Elevated maximum transfer
- No fees for transfers above $10,000
- Customer support offered Cons
- Minimum amount of $500
- HiFX
HiFX is a service designed to help you transfer your funds to a bank in a foreign currency. If you’re working far away from home, HiFX is ideal for getting cash to your family or making investments overseas. Given how easy it is to transfer your money to foreign companies in their currency, it’s especially ideal for business accounts.
Pros
- One of the most trusted money transfer names in the UK
- Competitive exchange rates save you money in the long run
- Quick turnaround means transfer is complete in 1 to 4 days
- Cons
- Rate comparison tool not available until after you’ve registered with the site
- Transferwise
TransferWise is an online money transfer platform intended for money-saving on exchanges via peer system. There is a facility available for exchanging funds that can be used to convert the currency. In a nutshell, these are the tricks that can be used for trading without crossing the international borders.
Pros
- Maximum 1% fee
- Maximum transfer of $36,000,000
- Apps for both iOS and Android
- Uses mid-market exchange rate with no hidden fees
- $3 minimum fee
- Minimum transfer of $1
Cons
- There is no cash pickup option.
- Direct transfers to bank accounts.
- World Remit
WorldRemit offers different transfer options to around 120 countries globally. The options include bank to bank cash transfers and online transactions. The transaction fees can be different based on the country you’re sending funds. They also depend on the worldwide exchange rate during money transfer. WorldRemit is most appropriate choice for small-sized business providing transfers from $1 To $2000.
Pros
- Flexible payment options
- Easy 3 step transfer process
- Facility of cash pickup
- Mobile airtime account transfers
- Transfers to mobile wallet accounts
Cons
- More transfer, higher transfer fees
- Travelex
Travelex has been in the global money transfer business since 1976 spanning over 177 countries across the world. Money can be transferred through a simplified process online. Travelex charges a measly $500 for international transfer which keeps your updated about the current exchange rates, and also provides information about recipients of the money.
Pros
- Flat fee of $5 for any transaction under $5,000
- No fee for transfers of $5,000 or more
- Exchange to more than 45 different currencies
- Home delivery available
Cons
- Exchange rates not always the most competitive
- No cash payments or cash pickups allowed
- TorFX
TorFX is a money transfer and exchange organization that strictly shifts your funds where it needs to be transferred. The funds must be cleared by TorFX account holders. The money needs to be sent before the transaction can be done. TorFX takes care of the concerns of its customers amicably and meticulously.
Pros
- Inexpensive exchange rates
- Non-chargeable market news
- Fixed protection of exchange rate
- Saves 5% bank exchange rates
- There are no commissions or bank charges
- Currency experts’ consultation
Cons
- Users report technical and administrative problems that delay transfers
- exchange risks like volatile markets
- Money transfers from Australia
There are other useful tools just like OFX which are available online. The information given above can be used as a reference by every business man for expanding his Amazon business through these tools.
By Jason Kumpf
International Ecommerce Business Expert
ETail ECommerce http://etailecommerce.com