The year 2020 was a challenging year for everyone. Numerous business closures were due to the COVID-19 pandemic, and many people were left unemployed. Due to these circumstances, people started turning towards eCommerce to make money. Forbes states that Amazon’s earnings resulted in a 37% increase to $96 billion.
Prime memberships continue to grow, and loyalty remains strong as Prime customers are buying more frequently and across more categories. Unemployed individuals are now more than ever intrigued by the rags to riches story of successful Amazon sellers. However, like any business, you have to put in the work to be successful.
If you are currently selling on Amazon and want to become profitable, you need to check your data continually. Evaluate your sales and cost through the use of Amazon analytics. In this article, we will share with you Sara Golla’s, Marketing Coordinator of Seller Spike, tips on how to use Seller Spike to scale your business and the growing trends in the eCommerce industry.
Amazon Brand Analytics is a feature that allows you to see valuable insights to make informed and strategic decisions about your products. In other words, the data provided will help you make smarter choices to gain more sales. The data includes information about search frequency rank, conversion share, customer behavior, popular search terms, most clicked products, and customer demographics.
This feature is only available to sellers who have a brand or serve as an agent, representative, or manufacturer of a brand. It will automatically appear in your Amazon account once you have registered with Brand Registry. If you don’t have access to Amazon Brand Analytics, you can contact Seller Support.
High-performing sellers on Amazon drive sales because they take advantage of a vital resource: eCommerce data. This data allows sellers to view and see an in-depth analysis of their product, sales, and growth. For example, sellers use these tools to understand sales and advertisements, especially for sponsored products and sponsored brands.
Considering that there’s a growing trend for Amazon-sponsored brand videos, it is best that you have the right data with you to make good decisions. Sara Golla mentions that, “If you have a unique product, then it's worth it to try so that the value can be communicated. You need to try it. It's a lot of trial and error to know which works for your business.” Hence, you need to analyze the data to figure out which techniques work for your business.
If you genuinely want to understand brand analytics and scale your business, you need to tap into the power of Amazon data. Rather than typical freeware or overly simplistic tools, use Seller Spike. Seller Spike will provide you with robust Amazon sales analysis solutions. Seller Spike is the latest all-in-one data analytics tool, which helps users gain more sales on Amazon.
Sara also states that, “Seller spike provides an interface that you can easily navigate and customize and see what you want to see and hide what you want and pinpoint what you want to find. We try to help sellers identify data that may be hiding in your business so that you can find new opportunities for growth. You also have good customer service, and we will help you get the most out of your account.”
With Seller Spike, you can break down your profits on a product-by-product basis. You get keyword insights for growth, and you can customize data to show you what you want or need, You can even track returned units that are in sellable condition, and you can sell in different marketplaces. Seller Spike picks up on the spots that others are lacking.
It’s also easy for you to scale your business because you are given valuable data to make the right decisions. When asked about the tips on how to scale a business, Sara’s response was, “Some people think that scaling your business, you need to bring in these new products. I only have 5 to 10 that's why I’m doing so bad. If you can master those 5 to 10, you can master more. If you aren't able to master these products, imagine yourself bringing in 100 products. What are you going to do with the ones you already have? With Seller Spike, you can dive deep into your product insights.”
In Seller Spike, you have an insight dashboard that shows you a complete sales breakdown by whatever time period you want and sales channel. In the product insights dashboard, you can see the same sales comparison, a full analysis of organic orders, total orders, commissions, and promo discounts. This allows you to identify which products aren’t doing well and in which areas you are losing money.
Seller Spike also helps you reduce operational costs. It shows you how much you are paying Amazon. Plus, you can predict if these costs are worth spending money on or if the product is still profitable. Moreover, Seller Spike provides actual metrics for different areas within the Amazon marketplace. “We can provide actual metrics for that marketplace, which is great. You can switch between accounts and view any other account. As for international pricing, we do conversions.”
Lastly, since Seller Spike automatically tracks what returned units are in sellable condition, you no longer have to reverse the sales costs manually to calculate your profit correctly. So, it’s best to choose Seller Spike. “You can get more out of Seller Spike for less. The icing on the cake, it's more affordable for every tier of deals.”
If you truly want to scale and grow your business, you need to use your data and analyze it properly. With Seller Spike, you can better understand and optimize the performance of your Amazon Business. Plus, you get more out of their affordable deals.
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