Amazon sellers face daunting competition to bring their products and optimize sales in the Amazon marketplace. To protect their brands, optimize their visibility, and boost revenue, the sellers must adopt certain best practices. It will help them funnel more sales into the pipeline. The key goal is to leverage compelling product listings and get higher visibility for their products. It will help them outperform the competition on Amazon. From tracking ads, sales, and profits, understanding customers’ requirements, and getting your listings right, there are a certain set of actions that each seller must perform.
Amazon sellers must consistently deploy the various data points to make informed strategies. The best Amazon sales tracker online tool allows you to track the Amazon sales data in real-time effectively. Hence, it presents opportunities to help you better focus on the profit-building and cost-saving strategies. It helps avoid the common selling mistakes that could otherwise affect your reputation and cost you thousands of dollars. Technology helps unlock agility and flexibility and allows you to remain vigilant against the challenges that could threaten the Amazon selling business.
Tracking sales data enables the sellers to spot fluctuations in sales. The tool provides a definitive, data-driven explanation to understand why your sales figure rise and drop. It is critical to map the sales and profits KPIs, not solely for your products but even that of your competitors. It empowers you to make smarter business decisions. Understanding the dynamics of your sales also enables you to develop an enhanced product, pricing, and marketing tactics for your online business.
Sales tracker provides modules to monitor and keep records of all sales. Thus, it offers you enhanced visibility of sales histories and trends. The tool can generate comprehensive sales reports that can illuminate you about the product rankings and profits. The sales reports offer a wealth of insightful statistics. Using these data factors, you can effectively adjust pricing and modify the number of products according to sales trends and customer behaviour. The sales tracker helps Amazon sellers to map several crucial metrics necessary to make critical decisions.
How does the Sales Tracker help Amazon Sellers?
With the sales tracking tool, sellers can analyze the trajectory of the sales of their product. This will allow you to map daily changes enabling you to understand how your daily sales velocity correlates with your sales rank. The tool helps you optimize your Amazon bookkeeping system so that you can effectively break down sales data, providing an integrated, holistic view of sales, sales rank, and cost metrics. It can give you an instant view of their daily sales data, even on an ASIN level. It also allows you to monitor how your competitor’s products are performing by viewing their sales rank chart.
How to choose the right Amazon Sales Tracker?
Various factors come to play when selecting the right Amazon sales tracker. Some of the important pointers include:
- Metrics to track: The sales tracking software must allow you to effectively map various important metrics critical to leveraging deep insights about your sales. Some essential metrics include ordered product sales, gross product sales, product sales per order, sessions, page views, average selling price, and orders placed, among others. The tool should leverage provisions to help understand these metrics and include them in your decision-making.
- Understand Sales Rank: The tool should help you understand the sales rank for your product. Sales rank describes how well your product sells against other products in your category. It represents the item’s popularity in a main category or sub-category. The sales tracker must provide insights to help you understand the sales rank of your product. Sales rank indicates the sales velocity led by high conversion rates.
- Competition Sales Rank: Besides monitoring your sales, it is critical to determine how your competitor’s sales rank. Monitoring your competitive landscape helps ensure a better trajectory for your Amazon business. It allows you to bring in necessary changes according to your changing competitive landscape. It helps you to set your pricing strategy right so that your product has better potential to earn higher profits. Thus, you can maintain a healthy product profit margin.
- Reporting: The tool must prepare detailed reports to help you diagnose your sales. The summary view must be in an easy-to-consume format. The tool must enable a glance view of revenue, units sold, conversions, and other KPIs. It will enable you to identify the trends and factors that affect your sales performance. The sales reports should have various segments. It must also help you find insights by geography. There should be a section that leverages real-time sales data when you enter an ASIN. The tool must integrate a dashboard feature facilitating your understanding of the sales trends.
To Conclude:
The right sales tracker tool will help you revamp your strategy and grow your business on Amazon. The Amazon marketplace offers great potential, and monitoring the right metrics will enable you to effectively sell on Amazon, set your pricing strategy right, and maintain solid profit margins.