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If you really want to shine as an Amazon seller, you’ve got to become a data guru. Knowing your numbers and making smart decisions based on them is your ticket to growth. In this comprehensive guide, we’ll dive into some advanced tricks for understanding Amazon's analytics dashboard, uncovering golden nuggets of insight about your customers, market trends, and what the competition is up to. Plus, we’ll introduce you to the Sitruna Analytics Dashboard—a tool that’s like Amazon analytics on steroids, giving you deeper insights and more features to keep you ahead of the pack.
Amazon offers a treasure trove of tools and reports to track your performance. From sales figures to who’s buying your stuff, their retail analytics dashboard is packed with data. But let’s be real, navigating this ocean of information can be daunting without a solid strategy in place. Here’s a quick cheat sheet:
o Sales Performance Metrics:
• Total Sales: Keep track of your overall sales and spot trends.
• Units Sold: See how many products are flying off the shelves and find your bestsellers.
• Unit Session % (Conversion Rate): Check out the percentage of visitors who purchase your products.
o Customer Behaviour Insights:
• Traffic & Conversion: Analyse traffic sources, page views, and conversion rates to understand customer behaviour and optimise your listings.
• Customer Demographics: Learn about your customers’ age, gender, and location to fine-tune your marketing.
o Inventory & Fulfilment Data:
• Inventory Levels: Keep an eye on stock to avoid running out or overstocking and avoid those pesky aged-inventory fees, which are applied to inventory stored in FBA for more than six months (181 days or more).
• Fulfilment Performance: Track metrics like order defect rates and late shipments to ensure happy customers.
o Advertising Analytics:
• PPC (pay-per-click) Performance: Analyse PPC campaigns, including click-through rates, cost-per-click, and return on ad spend (ROAS) to optimise your ads for better sales and profits.
To unlock the full potential of Amazon's retail analytics, sellers must go beyond basic metrics and delve into advanced analysis techniques. Here are some strategies to consider:
• Trend Analysis: Use historical data for predictive analysis to forecast future trends. With advanced algorithms and machine learning, you can predict customer demand, optimise inventory levels, and make data-driven decisions to boost sales.
• Customer Segmentation: Divide your customers into distinct groups based on demographics, purchase behaviour, or other relevant factors. This helps tailor your marketing efforts and product offerings to meet their needs better.
• Competitor Benchmarking: Keep an eye on your competition. Compare key metrics like sales volume, pricing, and customer reviews to find improvement areas, or where you need to adjust your pricing strategy so you stay competitive.
• Cross-selling and Upselling: Analyse what items customers purchase together to determine cross-selling opportunities and product bundling strategies. Identifying purchase patterns can help you optimise listings and increase average order value.
While Amazon’s dashboard is great, the Sitruna Analytics Dashboard kicks things up a notch. Making things more easily digestible, it also breaks down data by brand, marketplace, and all the way down to ASIN-level. Here’s how it stands out to give you that extra nudge:
• Comprehensive FBA (fulfilled by Amazon) Fee Tracking: The dashboard provides detailed breakdowns of all FBA fees and associated costs, so you can clearly understand your expenses without any nasty surprises.
• PPC/Advertising Keyword Tracking: Track individual PPC keywords to see what’s working. This granular level of detail allows you to optimise your ad campaigns for maximum ROI (return on investment).
• Review Count, Rating & BSR Monitoring: Monitor review counts, average ratings, and BSR (best-seller rank). These metrics serve as social proof and are crucial for building credibility and staying favoured by Amazon’s algorithm. Proactively addressing these areas can prevent problems before they impact your business.
• Drivers of Change Feature: Pinpoint the listings that may have resulted in a weekly or monthly sales increase or decrease. This helps you pinpoint where your attention needs to be, allowing for quick adjustments and continuous improvement of your sales strategy.
• Integrated AI Data Analyst: For sellers who prefer an extra pair of eyes to make sense of their data, the Sitruna Analytics Dashboard also includes an AI Data Analyst - here you can receive data analysis at the touch of a button!
Mastering analysis of Amazon analytics is crucial for any seller aiming for long-term success. By leveraging advanced techniques and powerful tools like the Sitruna Analytics Dashboard, you can uncover valuable insights, make strategic decisions, and drive impressive growth. Embrace the power of data and watch your Amazon business thrive. Want to learn more about the Sitruna Analytics Dashboard for your business? Hit the ‘Let’s Talk’ button below!
