Online marketplaces have been called the mammoths of the eCommerce jungle. And why shouldn’t they be? Several customers out there value trust, timely delivery, and lucrative discounts over a retailer’s best interests. They would certainly choose Amazon as a buying channel for they know that their money and their purchase are safe on that platform. You can do better on Amazon by using some of these Amazon seller tools.
As of 2016, even on mobile devices, customers preferred Amazon over several prominent web stores, Apple included. So, even though Amazon may be eating into your profits on a larger scale, you need to be present there.
Bottom line: If you want to be a successful retailer, you have to crack the Amazon code. Let’s take a look at the four Amazon tools you absolutely need to be a successful retailer.
15 must use Amazon seller tools:
Source Products With ProfitSourcery
Choosing the right product mix is absolutely key to making profits on Amazon. Some products have better margins than others, thus leaving you with enough dough even after all of the cuts and commissions Amazon keeps. How do we know what products to choose?
Broadly speaking, apparel, electronics, and accessories are some product categories you can make decent profits out of. But we want to take the guesswork out of choosing your product assortment, which is why we recommend ProfitSourcery.
ProfitSourcery has automated the Arbitrage model, which is a feat in itself. Each day, you choose products that you want to sell on Amazon and sell these products through FBA. ProfitSourcery suggests those products which are most likely to sell, based on past trends and sales data among other parameters.
Track Keywords With AMZ Tracker
The key question we need to address about selling products on marketplaces is standing out. We’re not even talking about branding here. What would you give to crop up in organic search rankings on Amazon for your product?
On the AMZ tracker website, this is what they have to say. “The Amazon search engine is a treasure chest of customers wanting to give you more money.”
If only you know the right keywords to use. Predicting the right keywords yourself is a bit like sorcery – it is mythical, imaginary and impossible. However, using a tool that can do that for you based on trillions and trillions of data points, is very real. With AMZ tracker, not only do you derive insights into what keywords to use, but you can also track and tweak them over time.
As an added bonus, you also get to see what your competitor’s current status on Amazon is. Sales, revenue, inventory – you are now omniscient to what your competitors are up to. As if that weren’t enough, you also get an alert every time you receive a negative review so you can immediately jump into action.
Manage Inventory And Orders With Primaseller
Everyone is vying for a single buy box on Amazon. Did you know that having products out of stock for long periods of time can instantly put you out of the buy box? Sufficient inventory is one of the many major parameters that influence your buy box placement. Here’s why being in the buy box can significantly boost your sales.
We cannot emphasize enough the importance of good inventory handling when you sell on multiple channels and the pain of failing to do so. Manual inventory registries are a thing of the past. What you need is a software tool that dynamically updates inventory from across all your sales channels. Enter Primaseller.
Primaseller tracks inventory 24X7, so even if you sell through a hundred channels, your inventory is sorted. And while we’re at it, why not sort out the entire supply chain? With our Auto Creation of Purchase Orders feature, you can do just that. Just set your reorder point and reorder level parameters and Primaseller can automatically raise a purchase order with your vendor whenever your inventory reaches these thresholds. No more scheduling purchases based on days and seasons – do it with scientific data and a system that supports you.
Beat The Competition With RepricerExpress
Being in the buy box is a process that requires constant attention. Wouldn’t it be great if you could get a software tool to do just that for you? RepricerExpress dynamically tracks prices for your product, compares them to prices of other products for the same seller and raises and lowers the prices such that you always have a competitive advantage.
While price isn’t the only parameter for being in the Amazon Buy Box, it is an important parameter, and by dynamically adjusting prices, you can be at an advantage. Also, you can set a threshold for how low you can go with the price, and the tool will ensure that you’re never pushed below that value.
Evaluate Profit Margins With FBA Calculator
This is a widget that is designed for Google Chrome. In Amazon FBA, the commissions and fees can quickly add up and leave you with nothing. So, it is imperative that you know how much profit you still get to keep as you dynamically reprice. You can install the tool from here.
Get Feedback With FeedbackExpress
Customer dissatisfaction is an important metric on Amazon. As a seller, how do you know if you’re doing well enough? Using FeedbackExpress, you can email your customers and ask for their feedback directly? This can help, particularly when customers don’t readily write reviews of their experience or rate you as a seller.
If you receive a negative review, the software automatically sends you an alert so you can minimize the damage.
Get Working Capital With Kabbage
As a retailer, working capital is always in short supply. However, you cannot always take out a template loan for all your needs. Instead, when you list a product online, Kabbage can help. They evaluate several parameters to decide how well your listing might perform and give you just the cash flow you need to be able to sell in peace.
Handle Taxes With QuickBooks Online
QuickBooks Online is the unbeatable king of accounting all over the world. For retailers, it works wonderfully in tandem with an inventory management system like Primaseller. You can quickly move all of your invoice receipts to QuickBooks online and never have to worry about accounting again.
Use Currencies Direct To Accept International Payments
Having trouble with international payment? Prohibitive conversion fees and bank fees can prevent customers from completing a purchase. However, you can also not be expected to bear the brunt of these costs. If this is the issue in your international sales, Currencies Direct can help with competitive fees and commission rates.
Advertise On Instagram
Social media is a powerful sales tool. Products, in particular, perform exceedingly well on a visual platform like Instagram. Sellers on Instagram now have a checkout feature within the platform so you can easily go omnichannel as well.
However, keep in mind- most consumers on Instagram expect good pictures as a baseline of satisfaction. If you have bad pictures or boring descriptions, you might just not succeed even with paid advertising.
Get Back Those Refunds With Refunds Manager
Processing refunds can sometimes be challenging on Amazon. FBA fees aren’t always processed accurately on Amazon. Manually filing appeals yourself is both time-consuming and irritating. Instead, let Refunds Manager file those claims in a personalized manner and get your refunds back sooner.
Use Keepa For Better Tracking
Keepa is a very basic Amazon price tracker but it is also powerful in its simplicity. With price history and fluctuations presented in a chart format, you have a better chance at readjusting prices using solid data as opposed to guesswork.
Keepa also finds the best product deals on Amazon every day so you can offer similar ones.
Smash Those Sales With Unicorn Smasher
Supercharge your product research even before you start selling. Use Unicorn Smasher to see prices, bestseller ranks, reviews and even estimated sales for products similar to the ones you are selling. Unicorn Smasher also tells you which is the best product to sell based on Amazon’s complete catalog, and even allows you to predict how much you can sell- even before you start.
Stop Fake Sellers With The Brand Protection Agency
Fake sellers bringing you down?
Use BPA to find out who is selling your products and at what price. Stop product leakage and rogue sellers with tech, and never worry about your brand name being used wrongly again.
Use Viral Launch For Better Traction
From identifying the right products to creating and monitoring your listings, do everything with Viral Launcher. As a market research and analysis tool, Viral Launch can help you streamline your marketing efforts on Amazon so you can expect better sales.
So there you are! From tools to choose products with to those that make inventory handling a breeze, these products can help you turn your Amazon marketplace account into a consistent source of revenue.