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Key Performance Metrics That Every Amazon Seller Should Track

Amazon all-in-one app dashboard

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Key Performance Metrics That Every Amazon Seller Should Track

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  1. Key Performance Metrics That Every Amazon Seller Should Track

  2. Anyone serious about selling on Amazon should be aware of the relevance of KPI measurements. Businesses that operate online must adapt quickly to new trends and provide prompt customer service. Selling on Amazon has never been easier, thanks to the abundance of data and Amazon all-in-one app dashboard available to sellers and brands alike. By using KPIs, Amazon sellers and brands can keep tabs on their sales data and derive actionable insights that help them meet both their short-term and long-term objectives. Whether it is brand recognition, revenue, customer acquisition, or product analysis, a seller may use these metrics to steer the firm in the appropriate way. What is the significance of seller KPIs? In this contemporary era of eCommerce, multichannel fulfillment has become widespread. With the explosion of digital sales channels and the consequent surge in the number of businesses vying for market share, your company must do a KPI analysis. eCommerce makes it challenging to separate inventory management from sales or sales from marketing initiatives. All of them are intertwined, making it complex to keep track of how well they’re doing. This is why we need to merge all of the metrics into a single database. Keeping tabs on your company’s marketing, sales, and inventory via a dashboard may help you keep a grasp on the total expenses. Important Metrics Every Seller Should Monitor Ranking of Products

  3. People go to Amazon to shop, and the vast majority of them use the site’s many features. Amazon’s search box is used by 75% of consumers, yet just 40% of them scroll past the first page. This indicates that you need to pay attention to your product’s rating in order to get to the top of the search results. The Best Seller position is based on sales volume, not customer reviews or feedback from sellers. If your Amazon items receive a high volume of visitors but have a low conversion rate, you may want to reconsider your pricing policy. Order Defect Rate (ODR) The Order Defect Rate (ODR) is the number of customers that have a poor experience with your shop. It is based on a poor rating or negative feedback. You may see an increase in your ODR if a customer demands a refund because of poor service or defective goods. These acts negatively influence your Amazon business since they signify dissatisfied customers. Having a high overall ODR might have a negative impact on your organization. A-to-Z claims are another aspect that affects your ODR. A-to-z claims can be made if a customer purchases a product from you and the delivery is late, or the product is in poor condition. Inventory Performance Index The Inventory Performance Index (IPI) is a new indicator to keep an eye on for Amazon sellers. Amazon says the score is based on how successfully you generate sales by supplying popular goods and efficiently managing on-hand inventories.

  4. An individual’s score might vary from 0 to 1,000. In general, a number above 400 suggests that your firm is doing well, but a score below 350 shows there are concerns and that you should take action to enhance your score. Monitor your Amazon Inventory Dashboard frequently to avoid losing potential sales and adopt any recommendations Amazon gives you regarding what you might do better. Shipment Delay Rate Another measure to keep an eye on is the late shipping rate, which will help you make sure your audience has the greatest possible experience. It does not reflect well on your company if you frequently deliver things late. According to Amazon’s definition, a two-day delay in delivery is considered a “late” delivery. When things are frequently delivered late, your company appears sloppy, unorganized, and unconcerned about consumer satisfaction. Late shipments are not permitted when selling items on a website that highly emphasizes customer pleasure. Amazon wants you to maintain a late shipment rate of less than 4% in order to ensure that your customers receive the best possible service. Conversion Rate Your store’s conversion rate is a useful indicator of whether or not you’re achieving your goals. It’s one of the most critical criteria for gauging the performance of an Amazon seller. This indicator tells you how many sales your company is making. The higher your conversion rate, the more visitors visit your site and make purchases.

  5. A poor conversion rate necessitates strategic adjustments. You may need to change a number of things to get better results. One way to guarantee that you are competing with your competition is to modify your pricing. This may be accomplished by looking at the product pricing of your most prominent competitors. While it’s possible that you’re overpriced, you may be losing out on potential customers because of it. Your Amazon seller performance metrics have an influence on the performance of your Amazon business; therefore, you should regularly analyze your data to see where any issues are occurring so you can rectify or improve them as soon as possible.

  6. Source URL: https://www.knockinglive.com/key-performance- metrics-that-every-amazon-seller-should- track%ef%bf%bc/

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