Running an Amazon business can be overwhelming, with so many moving parts to manage. It's easy to become overwhelmed with day-to-day responsibilities and lose sight of the bigger picture. However, to be successful on Amazon, it's crucial to stay on top of your business's performance continually. One of the best ways to do this is by using Amazon Seller Central reports.
We have identified 5 five key areas to keep in check in order to stay on top of your Amazon business and ultimately, increase your sales.
FBA Settings
If you're using Amazon's Fulfillment by Amazon (FBA) service, checking the FBA settings is crucial to ensure that you are optimizing your business operations and avoiding unnecessary costs. Consider the Value Recovery Options for instance. This setting allows Amazon to dispose of your unsellable inventory or return it to you for a fee. By checking this option, you can ensure that you are recovering as much value as possible from your unsellable inventory, and prevent Amazon from disposing of any of those.
On the other hand, disabling the refurbishment of unsellable customer returns in Seller Central can be an important setting to review as it may damage your reputation as a seller. Refurbishing unsellable customer returns involves repairing or repackaging items that have been returned by customers. While this may seem like a cost-effective way to resell inventory, it can also result in lower product quality, thus, having more negative customer reviews.
Take time to revisit your FBA settings and consider the potential benefits and drawbacks of toggling each option before making any changes.
Sales
Another important performance indicator to keep in check is your sales activity on Amazon. By having a full understanding of your sales data, such as the number of units sold, the average selling price, and total sales revenue, you will be better informed with your next steps in your Amazon business.
Accessing reports in your Seller Central account that provides you a detailed view of your sales performance will give you insights about inventory projection to forecast future sales and project inventory accordingly based on the current demand. This can be especially important during peak sales periods or when introducing new products to the market.
In relation to your inventory, you may review reimbursements to help you identify any discrepancies or errors during the receiving process or movement of inventory from one warehouse to another such as lost or damaged inventory or incorrect customer refunds.
With this, you can ensure that you are reimbursed for any lost or damaged inventory or other fees that you may be entitled to, and that your bottom line isn’t negatively impacted.
Use this important metric to make sure that you are maximizing your potential revenue and profitability on Amazon's platform.
Customer Relations
Customer Relations is another significant metric to monitor in your Seller Central account as it covers detailed feedback from your customers, including reviews, ratings, and other comments. This is essential to understand how customers perceive your products and customer service, and to identify areas for improvement.
One key insight that can be accessed in your Seller Central account is the Voice of the Customer (VOC) which is an indicator of customer satisfaction based on feedback received through Amazon's feedback and review system. Checking the VOC section can provide you with valuable insights into customer sentiment, including any issues or concerns that they may have with your products or services. By addressing these issues, sellers like you can improve customer satisfaction, which can lead to increased sales and better seller performance metrics.
To ensure that you are hitting your goals on this key area of your business, focus on addressing negative feedback and reviews. Look for common themes in negative feedback and use this information to improve your product quality, customer service, and shipping speed. Additionally, consider reaching out to dissatisfied customers to address their concerns and offer a solution. This can help turn a negative experience into a positive one and encourage repeat business.
Listings
Listing is as important as the others given that this metric encompasses the status of your product listings on Amazon. It provides you with information on your listing's content, images, and pricing, including any errors or issues that may be impacting your listing performance. This can include missing or incorrect product information, images, or titles, which can negatively impact sales and visibility on Amazon's platform and may cause negative bad product reviews.
By consistently monitoring your listings in your Seller Central account, you can identify and correct any listing issues, improve the overall quality of your product listings and potentially increase sales.
It is also advisable to always check and monitor your competitors' listings and pricing strategies. By analyzing this data, you can adjust your own pricing strategies and product descriptions to remain competitive, and optimize your product listings for maximum visibility and sales.
To ensure that you are on top of your game on this aspect of your business, focus on optimizing your product listings. Additionally, use Amazon's keyword research tools to identify relevant keywords to include in your listings to improve your search visibility.
Account Health
The Account Health dashboard provides you with information about your account's performance and any policy violations. These are essential for ensuring that you are complying with Amazon's policies and maintaining good standing on the platform.
To use this report to grow your business, focus on addressing any issues or policy violations quickly. Pay attention to Amazon's performance metrics and take steps to improve them if necessary. Additionally, ensure that you are following Amazon's policies regarding product information, customer service, and shipping.
Final Thoughts
As an Amazon seller, it's essential to have a clear understanding of your business performance. By using these key metrics in Seller Central strategically, you can identify areas of opportunity and make data-driven decisions to potentially increase your revenue and succeed in your Amazon business.
However, we understand that analyzing insights and reports in your Seller Central account can be time-consuming and overwhelming, especially if you're new to the platform. That's why having an expert like Seller Candy can be a great help.
Our team of experts is dedicated to helping you save time and effort by making sense of your data and providing actionable steps to ensure that your Amazon business is in good shape.
With our menu of services, you can rest easy knowing that your account is being taken care of by professionals, giving you the freedom to focus on other important matters of your business.
Talk to us today, and see how Seller Candy can help you take your Amazon business to the next level.
