Amazon Business Reports: Use Them to Grow Your Amazon Business
In today’s digital world, data plays a prominent role in every decision a business makes. Decisions based only on instincts don’t always pay off. And there is no excuse when it comes to Amazon sellers. Amazon provides a vast amount of data to help sellers with optimizing their listings performance. One such report is business reports.
Understanding the usability and power of business reports will enable sellers to make the most of the marketplace opportunity. We shall discuss that in detail.
Business reports provide Amazon sellers with information on how customers interact with and how often they buy the products. Also, one gets insights into the quantities that customers order in a single transaction. This data is valuable to fine-tune advertising and marketing strategy and thereby grow the Amazon business.
Below are specific metrics that one must track using business reports.
It shows the total number of products that customers have ordered from a seller. Sellers can use this metric to identify peaks and troughs in their unit orders.
The unit volume directly influences the product ranks on Amazon. If a seller sells more units, he/ she ranks higher on the Amazon search results. Therefore, one needs to track this metric and assess if the volume of units ordered performs well.
Pageviews show the number of visits that a seller’s Amazon store gets. Amazon considers each page of the store separately. So, if a customer views more than a single page, it will be regarded as multiple page views.
Quantum of page views has an impact on the number of conversions. If page views are low, there is a high chance that the product is not winning the Buy Box, or the product titles are not keyword rich. Hence sellers must correct these to increase page views.
This metric denotes the traffic generated. When a customer enters a seller’s Amazon store and views multiple pages or interacts with different pages, it is considered one session.
Low traffic can lead to poor sales. Moreover, if page views are equal to sessions, it means the products are not holding the attention of potential buyers. Hence, sellers need to increase both sessions and page views-to-sessions ratio. They can check if the images comply with Amazon guidelines and listings are in the correct category. Sellers should also check if the pricing strategy is competitive enough.
Order Session Percentage (Conversion Rate):
This metric compares the number of orders placed, the number of unique sessions a seller’s store got from the customers.
If one notices a drop in their order session rate or order session rate is lower than the category average, they need to take proactive steps to fix the issue. The chances are high that the product ranking is low. Most of the time, they will have to find the right keywords for their listing.
Buy Box Percentage:
The Buy Box percentage tells how often a seller’s product appears in the Buy Box to the customers.
If the Buy Box percentage is high, a seller is winning the Buy Box frequently. It is a good sign, and it improves sales and rankings. However, if the product is out of stock or loses the Buy Box to another seller, it impacts sales and page views. Multiple factors like pricing, product quality, reviews, shipping, delivery impact Buy Box rankings.
Using business reports is not just about tracking the above metrics and improving them. There are multiple business use cases of these reports which sellers can deploy and optimize their listings performance.
Business Use Cases
Find products that need a boost through PPC Ads:
Amazon Sponsored Products PPC advertising is a great way to drive revenue. But sellers must identify the products that offer the best opportunity for additional profitable sales.
Usually, products with low views but a high conversion rate are a good prospect for PPC advertising. Sellers can drive additional traffic to product detail pages which they know will convert and increase the product discoverability. This way, they can maximize the return on their advertising spend.
Find products that need improvement:
The other scenario where sellers can use business reports is to identify those products that generate plenty of views but very few sales.
A low unit session percentage is usually because of the poor product page. Sellers should improve the product detail page to take advantage of the higher traffic volume these pages get.
Focusing only on the selling side of the business does not work for any of the sellers. And, that holds for Amazon sellers too. To be the best seller on the platform, one must set aside time and effort into understanding what the business reports would mean for their business. Analyzing the metrics provided in those reports and tweaking the product and marketing strategies helps sellers empower their e-commerce business on Amazon.