Managing an Amazon business can be a daunting task, with numerous elements to handle. It’s common to get lost in the day-to-day operations and overlook the overall performance of your business. Nevertheless, to thrive on Amazon, it’s vital to monitor your business’s progress continuously. One of the most effective methods to achieve this is by utilizing Amazon Seller Central reports.
To help you stay on top of your Amazon business and drive sales growth, we have identified five crucial areas that require close attention.
FBA Settings
Checking your FBA settings is critical when using Amazon’s Fulfillment by Amazon (FBA) service to optimize your business operations and avoid unnecessary expenses. One example is the Value Recovery Options, which enable Amazon to dispose of your unsellable inventory or return it to you for a fee. By enabling this option, you can ensure that you are recovering as much value as possible from your unsellable inventory and preventing Amazon from discarding any of it.
On the other hand, disabling the refurbishment of unsellable customer returns in Seller Central is an essential setting to review as it may affect your reputation as a seller. Refurbishing unsellable customer returns involves repairing or repackaging items returned by customers. While it may seem cost-effective to resell inventory in this manner, it can result in lower product quality, leading to negative customer reviews.
Before making any changes, take the time to revisit your FBA settings and assess the potential benefits and drawbacks of toggling each option.
Sales
Ensuring your sales activity is optimized is another key area to focus on in your Amazon business. By closely monitoring your sales data, including the number of units sold, average selling price, and total sales revenue, you can make informed decisions for the future of your business.
By accessing sales reports within your Seller Central account, you can gain a detailed understanding of your sales performance, enabling you to project inventory needs and make data-driven decisions. This can be particularly valuable during peak sales periods or when introducing new products to the market.
In addition, it’s important to regularly review reimbursements to identify discrepancies or errors during the receiving process or inventory movements. This includes lost or damaged inventory, as well as incorrect customer refunds. By staying on top of these issues, you can ensure that you are reimbursed for any losses or damages, as well as any other fees to which you may be entitled, protecting your bottom line.
By paying close attention to this important metric, you can maximize your potential revenue and profitability on Amazon’s platform.
Customer Relations
Monitoring Customer Relations is crucial in Seller Central as it provides valuable feedback from customers, such as reviews, ratings, and comments. This information is essential to understand how customers perceive your products and services and to identify areas for improvement.
One important metric to track 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 review and feedback system. Checking the VOC section can provide valuable insights into customer sentiment, including any issues or concerns they may have with your products or services. By addressing these issues, you can improve customer satisfaction, which can lead to increased sales and better seller performance metrics.
To achieve your goals in 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 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
Keeping track of your product listings on Amazon is crucial as it is a significant performance indicator that encompasses the status of your listings, including their content, images, and pricing. By monitoring this metric, you can identify any errors or issues that may negatively affect your listing’s performance, such as missing or incorrect product information, titles, or images, which can lead to poor sales and visibility on Amazon’s platform and result in negative product reviews.
Regularly monitoring your listings in your Seller Central account and correcting any issues can improve the overall quality of your listings and potentially increase sales. It is also important to keep an eye on your competitors’ listings and pricing strategies, which can help you adjust your own pricing and product descriptions to remain competitive and optimize your listings for maximum visibility and sales.
To excel in this area of your business, focus on optimizing your product listings, including the use of relevant keywords in your descriptions, and using Amazon’s keyword research tools to identify high-volume keywords to include.
Account Health
To maintain a good standing on Amazon’s platform, monitoring your Account Health dashboard is crucial. It provides you with valuable information about your account’s performance and any policy violations.
To leverage this report to improve your business, make it a priority to address any issues or policy violations promptly. Take note of Amazon’s performance metrics and take corrective actions if necessary. Furthermore, ensure that you are adhering to Amazon’s policies regarding customer service, shipping, and product information.
Final Thoughts
As an Amazon seller, understanding your business performance is crucial. These key metrics in Seller Central can help you identify areas of opportunity and make data-driven decisions to potentially increase revenue and succeed in your Amazon business. However, analyzing insights and reports in your Seller Central account can be overwhelming, especially if you’re new to the platform.
This is where Global Parachutes comes in. 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 services, you can rest assured that your account is in good hands, allowing you to focus on other important aspects of your business.
Contact us today and discover how we can help take your Amazon business to the next level.