5 Resources You Can Use To Analyse The Market On Amazon
5 Resources You Can Use To Analyse The Market On Amazon
Selling on Amazon can be frustrating at times. If you’re new to the Amazon marketplace or aren’t sure why your listings aren’t selling as well as you thought it’s not always easy to know where to turn. There’s a lot of information out there on how to be a successful Amazon seller but it’s not always geared towards analysing the market on Amazon.
It’s hard to know what’s out there to help you analyse the market and understand what’s going to help you become a better seller. There’s an overwhelming amount of information to sift through sometimes. If you aren’t sure where to look or what resources are out there it’s easy to get discouraged and give up the search.
The good news is there are a lot of resources available to you. Chances are if you’re having a problem on the Amazon marketplace there’s a tool or resource out there to help you solve that issue. From FBA fee and profit calculators to keyword analysis tools there’s a lot out there to give your sales tactics a boost. Here are five resources to help you analyse the market on Amazon.
1. FBA Fee And Profit Calculators
Being an FBA (fulfilment by Amazon) seller has a lot of advantages. You get to use Amazon’s warehouse to store your products, they handle shipping and customer service, and you get to have a better chance of winning the buy box. Your listings will also gain more attention because Amazon Prime customers can use their shipping benefits on your items.
The problem with FBA comes in with the fee structure. It’s intricate and hard to figure out. It also changes at times and that adds extra frustrating to the mix. Sometimes sellers will use tactics like rounding numbers to figure out the fees associated with their listing. This is risky since it means you won’t be working with hard data. Rounded numbers are simply guesses.
Instead of guessing at what the fee is going to be for your listing, go ahead and use an FBA calculator instead. You can enter in all the relevant factors (item size, price, etc) and get a real answer about your cost per item sold. This will help ensure you’re turning a profit instead of risking that you’ve priced your item so low you’re losing money every time you make a sale.
2. Sales Trends Tools
If you’re just starting as an Amazon seller or you want to add an item to the line of products you list, analysing the sales trends on Amazon is where to start. This will help you determine what’s selling well and what doesn’t have a hope of selling at all. There’s a lot that goes into what is selling on Amazon including seasonality and product categories.
This is another area where you need hard data and statistics instead of loose figures and guesses. You can’t risk listing something and paying the associated fees just to have it sit in a warehouse (or your home) for an undetermined amount of time. Your profits are dependent on selling your items at a high rate so you can’t make bad choices about what to sell.
Use a sales trend tool to help you analyse what’s selling well. These tools specifically monitor the Amazon marketplace trends and give feedback to you about items you are thinking about listing. You can easily figure out what’s selling well right now and what’s been selling well over time. These are both pertinent trends to know about. Use a sales trend tool before you choose what to list so you make the most informed decision possible.
3. The AMPM Podcast
Some of your best resources for figuring out the Amazon marketplace are going to be your other more successful Amazon sellers. That’s what you’re getting from the AMPM podcast. They have a lot of great information for new sellers and sellers who are looking to up their game on Amazon too.
There’s an entire episode dedicated to talking about how you can analyse the market and see what your competitors are doing. If you need a more personal touch to your search for information on analysing the Amazon marketplace this is where you need to go. The AMPM podcast is advice from real sellers who have been exactly where you are.
4. Split Testing Tools
Have you ever wondered what specific part of your listing is causing you the most issues? That’s a common question a lot of Amazon sellers have when their item is under-performing. The problem is if you don’t know where the hang-up is you can try adjusting things only to make your listing stats even worse. That’s where split testing tools come into play.
Split testing tools allow you to put your listing’s information into a mock sales environment. While you’re in the mock environment you can change anything you want to adjust about your listing. Keywords can be adjusted, you can test out a new price, and you can play around with your item description too.
The split testing tool will tell you what each change will do to your listing. Once you figure out which changes are going to improve your listing’s statistics you can make those specific changes to your live listing. Split testing is a low-risk way to play around with your listing until you find the perfect mix of pricing, keywords, and item descriptions.
5. Keyword Analysis Tools
Your keywords on your listing should be optimised as effectively as possible. The importance of having keywords that are easily searchable and related to what your customers are genuinely searching for is never something you should underestimate. There are keyword tools out there to help you figure out what words are important for your listing’s title.
Keep in mind the words you might think someone would use to find your item may not be the words that are most commonly searched. A keyword tool will use information about what Amazon customers are searching right now to help you list your item with the right words every time you list something new. Again, don’t guess. Use the tools at your disposal instead.
Analysing the market on Amazon doesn’t have to be so overwhelming that you give up and never try to make your listings perform better. It’s just about knowing what tools are out there and how to use them. Now that you’re more aware of what’s available to you, you can go do some research and figure out how to improve your Amazon sales stats.
Some of this research will take some extra time but don’t feel discouraged by that. Remember, selling on Amazon is a learned art form so putting in the time and effort now will mean better results later. Better results will have you raking in the profits and that’s always going to be worth a little extra effort at the beginning.