Amazon Success: Get into Gear in 2017
We just wrapped up the biggest year on record for Amazon merchants. In fact, some reports claim that Amazon buyers received more than one billion holiday gifts in 2016. That's a pretty staggering statistic!
As you plan for the year in front of you, it's wise to look back at the successes (and failures) of 2016. Which SKUs generated the best profitability? How could you have engaged more customers? Could you have avoided more out-of-stock situations? Did you pass on a few inventory buys that would have boosted profitability?
No matter the questions on your mind, eComEngine is here to help you "get into gear" in 2017. In this post, we'll share a few tips for leveraging our software for even better results.
Make More Profitable FBA Inventory Decisions
Beating last year's sales volume is an admirable goal. The more you sell, the greater likelihood you have to expand your already impressive list of loyal customers. However, as any profit-minded FBA merchant will tell you, revenue isn't everything. In fact, focusing too much on top-line revenue (at the expense of your margins) is the quickest way to go belly up.
While your competitors fight for the low-margin / high-volume orders, take a different path in 2017. Let RestockPro help you reprioritize your inventory mix and maximize SKU profitability.
How does RestockPro help you weed out underperforming items? For starters, the software allows merchants to manage supplier contact information, restocking rules and purchase terms in a single portal. Purchase orders can even be generated and distributed to vendors with a few clicks.
In addition to providing more streamlined supplier management, RestockPro tracks actual cost data for each purchase order built. Instead of doing time-intensive analysis in spreadsheets, our software aggregates all PO cost data into useful profitability reports. In an instant, you can view historical SKU-level profitability for each vendor. Sort and export your data to determine which items are underperforming or exceeding expectations.
Estimated margin data is also made accessible to sellers during the restocking process. Based on your preferred restocking model and safety stock assumptions, RestockPro builds a prioritized restocking to-do list. As you work through your most important action items (those marked with a red flag), you'll notice the estimated margin data for each potential reorder. Historical profitability, markup, and current Buy Box price are factored into this decision point.
Armed with this information, you'll be able to make more profitable decisions - with much less effort.
Protect Your Brand on Amazon
The products you sell did not become popular overnight. Visibility on the Amazon marketplace is the result of careful marketing and an ever-increasing number of positive customer ratings. And, in reality, the same is true for your Amazon store itself.
If you haven't already done so, it's a wise investment to protect the product and seller reputations you've worked so hard to build. To accomplish this, many sellers are unleashing the full power of FeedbackFive. Users often start on our Free plan, but they usually upgrade to unlock advanced reputation management features, such as:
- Negative feedback alerts (SMS text & email)
- Customizable email templates and campaigns
- Automatic exclusion rules (such as "do not solicit refunded orders")
- Feedback removal tools
- FBA-specific campaign rules
- ...and many other features
In addition to feedback management, FeedbackFive makes it easy to request product reviews.
Cut Hours Off of Your Sourcing Workflow
Sourcing new products relies on more than just a "gut feeling." Without the proper research, you could mistakenly purchase thousands of units of a highly unpopular item.
Doing your due diligence isn't always easy, especially if you're using the Amazon marketplace as your primary guide. Sales rank, Buy Box price, competitor information and other factors change dynamically, which makes manual data collection infeasible.
We built MarketScout to expedite the product research process. With MarketScout, your job is simple. Just upload a list of SKUs and the associated cost data, and our tool generates a data-rich report containing: sales rank, ASIN, category, lowest FBA price, lowest overall price, potential profit calculations and many other useful findings.
Instead of clicking through countless Amazon pages to gather necessary information, MarketScout saves you hours of work. Best of all, you only pay for MarketScout when you need it. No monthly plan required!
eComEngine Helps You Get into Gear
Ready to ramp up your eCommerce engine in 2017? Stay one step ahead of your competitors by implementing best-in-class software.
Give our tools a try today!
Originally published on February 3, 2017, updated June 1, 2019
This post is accurate as of the date of publication. Some features and information may have changed due to product updates or Amazon policy changes.