Amazon Sales Analytics: Get a Hold of Your Business in 2022
Almost anyone can sell on Amazon.
But if you want your Amazon store to thrive and not just survive, you need more than just a product to sell – you need data.
With the help of Amazon sales analytics tools, you would be able to use data to finally take your business to the next level this 2022.
In this article, we’ll explain what exactly Amazon sales analytics is, how to choose the best one for you, how to maximize its potential and give you a list of the most common analytics tools available in the market.
Let’s get into it!
What is Amazon Sales Analytics?
Amazon sales analytics are tools designed to help you get a crystal clear understanding of your business to help you make data-driven decisions.
Amazon selling analytics tools serve a wide range of functions like keyword research, sales tracking, product repricing, inventory management, and more.
With these tools, you’ll be able to gather and analyze data efficiently, automate different aspects of your business, and drastically increase your chances of success.
What Are The Benefits of a Good Amazon Sales Analytics
What gets measured gets managed. By using Amazon selling analytics tools, you can gather critical data, so you can make informed decisions instead of using only your gut feeling.
UNDERSTANDING YOUR DATA
It goes without saying that gathering data is just one part of the equation. Amazon sales data analysis tools allow you to not only gather but also to understand what these data mean and even provide recommendations tailor-fitted for your business.
A FULL FINANCIAL PICTURE
The more products you sell, the harder it is to manage your business’ finances.
With the help of these analytic tools, you can get a clear and complete financial picture to ensure your business stays profitable, while you identify expenses that are eating up your profits.
EVALUATED PPC CAMPAIGNS
It can be easy to spend tremendous amounts on advertising without getting a healthy ROI. Analytics tools can help prevent that from happening by optimizing your PPC campaigns for maximum results.
SPECIFIC PRODUCT PERFORMANCE
Amazon sales data analysis tools let you track the performance of specific products that you’re planning to sell, or are already selling, to give you an insight into its profitability.
This lets you know instantly whether a product is worth selling or not.
OPTIMIZATION ON EXPENSES
Expenses, when left unchecked, can make or break your business.
Amazon sales analytics Tools can help you manage and optimize your expenses, to make sure you’re always in the green regardless of how big your business is.
How to Choose The Best Amazon Sales Analytics
There are tons of Amazon sales data analysis tools available in the market that you can choose from.
Some of them offer more features and better functionalities than others. However, when choosing an Amazon Sales analytics software, there are 3 features you should never compromise on.
KEYWORD RESEARCH TOOL
Probably the most important feature in any Amazon sales analytics software, keyword research tools are necessary to gain visibility on this vast platform.
You can optimize your listings so that they show up on the first page when you know which keywords your target audience is using! And while Amazon offers an automatic keyword generation feature, it’s not enough if you want to be competitive.
With the help of Amazon selling analytics tools, you can gather the most relevant keywords that can drive traffic to your listing. That said, always pick a tool that has a powerful keyword research feature.
Competition never sleeps. That’s why it’s crucial to always be a step ahead of your competitors when it comes to pricing, otherwise, you won’t be able to win or maintain the buy box!
Your competition is always on the lookout for the best strategies and will always try to steal yours just to get an advantage – and that usually involves offering a better price than you do.
Repricing tools allow you to instantly and automatically reprice your products whenever there are changes to your competitors’ pricing, so you’ll always have a competitive edge even when you sleep.
SHIPPING AND INVENTORY MANAGEMENT
No matter how competitive you are when it comes to keywords and pricing, if your products are always out of stock, you’ll always be behind your competitors.
That’s why it’s crucial to effectively manage your inventory and shipments at all times.
Many Amazon sales data analysis software provides easy and intuitive inventory management features that let you know when you need to restock and how many units you need, using forecasting tools. Other software also lets you track your shipments and manage any reimbursements from FBA for any discrepancies.
With these features, you’ll always be ready to serve your customers and maintain a good standing as a seller.
Getting The Buy Box – Making The Most Out Of Amazon Sales Analytics
WHAT IS A BUY BOX?
The Buy Box is the box customers see on every Amazon product detail page, on the right hand side. This is how customers add a product to their cart.
This section is extremely important since more than 80% of Amazon sales go through the Buy Box, and winning it means you’ll have more chances of getting the sale than your competitors.
That said, winning the Buy Box is not an easy task. Only the sellers with the best metrics can have a chance to win the Buy Box and the competition is always stiff.
HOW TO WIN THE BUY BOX
Fulfilled By Amazon
It goes without saying that Amazon considers its FBA service as superior across all variables, compared to merchant fulfilled listings. However, you’ll have a higher chance of winning the buy box if your product is listed as FBA.
And while merchant fulfilled products can possibly beat FBA, it’s extremely difficult to do so competitively.
Seller Fulfilled Prime
Seller Fulfilled Prime is a program that allows sellers to ship products directly from their warehouse and offer two-day Prime shipping without using Amazon’s FBA service.
Listings with the Prime badge have a higher chance at winning the Buy Box than other FBM offers. However, you will have to maintain excellent metrics across the board to be eligible for Seller Fulfilled Prime.
Previously, Amazon only considered the price of your product without considering the shipping fee.
Now, they also factor in the shipping fee of your product in determining your chances at winning the Buy Box.
However, since other metrics are also being used to determine the winner, you don’t necessarily have to offer the lowest landed price (product price plus shipping).
You can definitely increase your price without seeing too much of a drop in sales if your metrics are better than your competitors. But if you have less than perfect metrics, lowering your price can give you a better chance.
In order to win the buy box, shipping performance is not just important – it’s one of the most important elements! That’s why FBA and SFP are also considered important variables.
By ensuring you can deliver your products on time and without a hitch, you prove to Amazon that you can provide a great experience to your customers, thus making you deserving of the Buy Box.
These variables can determine whether or not you can win the Buy Box, and ultimately, if you’ll have significant success while selling on Amazon.
Amazon sales analytics tools can give you a better chance at winning the Buy Box by helping you maintain excellent metrics across the board.
9 Amazon Sales Analytics Tools That Will Help Your Business Grow
The Buy Box is the box customers see on every Amazon product detail page, on the right hand side. This is how customers add a product to their cart.
Camelcamelcamel is a free tool that allows you to track a product’s price drops, pricing history, and sales rank. This tool will be handy if you want your products to stay competitive, as well as scouting for products you wish to sell in the future.
It shows each item’s information about product price status, whether it’s FBA, 3rd Party Used/New, the product category, and product name.
You can also use the free browser extension if you want to keep track of price changes on items you’re currently following.
AmzChart is a product research tool that uses Best Sellers Rank data. You can use this tool to find the best products to sell on Amazon and scale your business. This tool also allows you to track your competitors and identify the best keywords to use to optimize your listings.
With AmzChart, you can gain insight into the best niches and products based on your search criteria within seconds, so you can find your next winning product and improve your BSR.
You can use AmzChart for free with limited access to its features, but you can upgrade to a professional account for only $99.
JungleScout is an all-around Amazon sales analytics tool that can help you evaluate your PPC campaigns, view sales and profit data, review product performance, document your business expenses, and more.
JungleScout offers a wide variety of features like monthly sales and revenue, review tracking, category and seller ranking, profit calculator, historical price, rank and sales data, and so much more!
It also comes with a free Chrome extension which allows you to see critical product data at a glance.
You can see the top 16 listings in a product niche search, ranked on the following:
Average Daily Sales
Average Sales Rank
Average Selling Price
And much more!
With this data, you can figure out right away if a certain niche is worth your time or not.
It offers 3 pricing options starting from $29/month to $89/month, billed annually.
AccelerList is an Amazon FBA listing and inventory management software that allows you to list products faster and easier than doing it manually through the Amazon Seller Platform.
Users can choose whether to list products in bulk or individually, and AccelerList excels in doing both. After all, it’s marketed as the fastest FBA listing software to date.
AccelerList also offers other features such as accounting, product repricing, label printing, product research, and restricted product alerts (through a Chrome extension).
It also offers a cross-listing option to eBay in case you’re selling on that platform, too.
5. AMZ TRACKER
Credited for pioneering multiple seller tools, AMZ Tracker is marketed as an “Offense and Defense for Amazon Sellers” – and for good reason.
This software allows sellers to reach first page rankings through product promotions, listing optimization, and insightful competitor analysis. At the same time, it also offers negative review alerts which help ensure you can address negative feedback immediately and possibly resolve the issue, and hijack alerts to help you reclaim it right away when someone tries to hijack your listing!
AMZ Tracker also has a browser extension called The Unicorn Smasher Pro. Like with other software extensions, this tool allows you to see metrics on products, rankings, and competitors while browsing Amazon.
One unique aspect of AMZ Tracker is Vipon. Vipon.com is a discount site where Amazon sellers can offer promotions and vouchers to customers for their Amazon products. This website is exclusive only to AMZ Tracker subscribers.
Pricing starts at $50 to $400 per month and comes with a 7-day free trial.
HelloProfit is a business intelligence software that offers a staggering amount of data at the lowest, most detailed level. This enables users to not only get a bird’s eye view but also to go deep to understand exactly what impacts their business!
It assists sellers in data management, profit calculation, PPC management, and a lot more. You can even have multiple merchant accounts connected to one account.
With HelloProfit, you’ll have access to a:
Customers and Orders
You can try HelloProfit for free for 21 days, but after that, it’s $97/mo.
SellerApp is another all-in-one analytics software for Amazon sellers, designed to help you become agile in finding the next winning product, boosting your existing products’ sales, and spy on your competitors.
It also offers sales and inventory tracking and PPC management, while also providing training resources and multiple access. This connects different dots in your business to give you a complete picture and ensure your growth.
Here are some of the features provided by SellerApp:
SellerApp costs $99-$199 with 7 days free trial.
SellerBoard offers several robust tools that make it easy for any seller to thrive on Amazon.
Its PPC Dashboard helps you manage your advertising campaigns, the cash flow tool helps you manage your expenses and available cash, and the Profit and Loss View allows you to gather all relevant data regarding your sales, shipping, and refunds.
The Live Dashboard, on the other hand, gives you real-time detailed and customizable information about your PPC spending, sales, Amazon fees, returns, and more.
It’s a time-saving tool that can present all the information you need in an instant, so you can make better decisions quickly without second-guessing yourself!
SellerBoard pricing starts at $15/mo to $63/mo for annual payments with a 1-month free trial.
This software extracts data straight from your Amazon Seller account and presents it into clear and easy to digest insights. This makes the staggering amount of data more actionable and less intimidating!
If you’re looking for products to sell, Sellics’ Product Detector and Niche Analyzer lets you discover high potential products and niches that are worth exploring.
The Cockpit feature gives you an overview of your account’s performance to ensure you’re on the right track, while their Spy Tool helps you monitor your competitors closely so you’ll always have the upper hand.
Of course, this renowned all-in-one Amazon seller analytics software wouldn’t be complete without its PPC Manager, Keyword Tracker, and Inventory Manager to ensure your Amazon selling success.
HOW TO CHOOSE THE BEST AMAZON SALES ANALYTICS TOOLS FOR YOU
With a lot of options to choose from, picking the software that suits you best and helps you achieve your goals faster requires trial and error.
That said, make an effort to familiarize yourself with the different features and functionalities of each software to make the most out of it. Alternatively, you can hire someone who knows the ins and outs of different Amazon sales data analysis tools and can help you use them to their full potential.
At the very least, your Amazon sales analytics software should be competitive when it comes to:
Inventory and Shipping Management
Automated Product Repricing
Keyword ResearchListing Optimization
Sales and Profit Tracker
And Product Research
These features will help you become a force to be reckoned with, so make sure to look for these when picking your software.
Selling on Amazon presents many challenges that can test your skills and perseverance as a business owner.
With the help of these Amazon selling analytics tools, you can overcome these obstacles and easily make your way to the top.
But keep in mind that these tools are only designed to assist you! At the end of the day, it will all boil down to your perseverance and dedication to succeed, no matter what tools you use.
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