Save time and money with an Amazon Analytics Tool: 5 Applications for Marketplace Sellers
Is there a way to be successful in any business without knowing and measuring your KPI? Spoiler alert: No! This is true also and particularly in highly competitive grounds like Amazon. The question is: How do you keep track of them? How do you keep an eye on your revenue, your SEO and PPC performance, on your Buy Box share? We think the following 5 (free) Amazon analytics tools for sellers might be the answer.
Before we dive deep into the landscape of Amazon analytics tools we should talk about why it is crucial to keep track of your KPI. Without knowing what is going on in your business and on the platform, you are gambling with the success of your business. Analyzing your own data and of the data of the platform upfront enables yourself to plan your next steps. In a second step the data allows you to control your actions and adapt according to the response they got. The plan -> execute -> analyze -> adapt cycle is not working without having the informational basis to analyze. Due to that, the data you can get out of an Amazon analytics tool determines how effective you can be.
You should know, good data does not come without costs. But as always there is a broad spectrum of possible tool providers with different features and different prices.
5 Tools for perfect Amazon Analysis
Might it be just a simple keyword research or an extensive competition analysis on Amazon, the analytics tool landscape have something for every taste. Be aware that this list was never intended to be a complete overview. But these 5 tools are some of the most popular out there and from our perspective worth a closer look.
#1: Sellics - Two Amazon Market Analysis Tools
Sellics (formerly "Marketplace analytics") offers with the Seller and Vendor Edition two separate solutions. The software provider promises that users will receive an all-in-one solution with all the important tools. In fact, Sellics offers a wide range of functions with his Amazon analytics tool:
The Sellics Vendor Edition also monitors the Buy Box and provides an overview of the impact sponsored PPC ads have on your sales. The Seller Edition costs between 37 and 297 euros per month, depending on the duration of the contract and the user's annual turnover on Amazon. The price of the Sellics Vendor Edition is significantly higher and depends on a number of factors that merchants must disclose before signing a contract.
#2: Jungle Scout – including Amazon Sales Analysis Tools
Another well known and much used Amazon analytics tool is Jungle Scout. It offers a similar feature set for Amazon compared to Sellics. Finding new profitable products is possible as well as competition and keyword analysis. Individual marketplace products can be monitored to track sales on the platform. Keyword trends indicate increased demand for specific items early on.
A special feature of Jungle Scouts Amazon analytics tool is the Supplier Base. This enables retailers to find trustworthy suppliers including their top customers or to assign certain products to a manufacturer. Jungle Scout promises anyone will find a supplier for products, even in a specific niche. In contrast to Sellics, the costs are not dependent on annual sales. They range between 35 and 60 euros per month, depending on the exchange rate.
The Amazon analytics tool "ShopDoc" also offers its buyers a variety of application options.
In addition, there are also features such as a PPC Manager, an Amazon competitor analysis tool or a FBA calculator. The price of this Amazon analytics tool ranges from around 81 euros to 99 euros per month depending on the billing cycle.
#4: Helium 10
Helium 10 also promises an all-in package for marketplace sellers and has various tools available for different purposes. The product research section contains tools for trend research and profit calculation. Additionally, with the included Amazon review analysis tool the evaluation of customer comments gets easy.
Using the right keywords to help potential buyers find the products is also crucial on Amazon. Helium's analytics tool finds such keywords. Users can also view the search volume of competitors' keywords.
Finally, Helium can also be used to optimize the listing. For example, users can analyze which product ranks for which keyword. And Helium provides keywords that are suitable for a PPC campaign.
Another well-known analytics tool for Amazon sellers is Amalyze. It includes tools from the following areas, among others:
The niche and category analysis can provide interesting insights into the products other merchants are selling. Moreover, users can check how many people use Fulfillment by Amazon and how the reviews of a product affect its ranking.
Amalyze can also evaluate the sponsored ads or PPC campaigns. For example, it provides information on whether advertising has actually been delivered to potential buyers. Users can also find out for which keywords competitors are placing PPC ads and which keywords could still be useful in terms of advertising.
Amazon Analytics Tool: Check! What's next?
However, it is not enough to decide on a tool to take over the technical analysis on Amazon from now on. There are still at least two tools that every merchant should use: a repricer and an FBA error analysis.
Especially the repricer is important on Amazon, because an analytics tool only really makes sense if your offers are competitive at all. 90 percent of all products are sold via the Buy Box - if you don't have it, you can analyse your competitors as precisely as you like, significantly more sales will not come out for you.
Intelligent price adjustment
In addition to excellent customer service, the price plays a key role in winning the Buy Box. Finding the ideal price is no easy task and very time-consuming. The larger the assortment and the higher the sales figures, the less the retailer can cope with this workload.
Therefore, the automatic price adjustment is essential to appear frequently in the Buy Box. The advantage of the intelligent SellerLogic Repricer is the way it works: Unlike other repricers, it does not set rigid rules (e.g. "always two cents cheaper than the competition"). Instead it analyzes the market situation and adjusts the price with regard to all relevant key figures. In this way, merchants sell their products on the online marketplace not at the cheapest but at the best possible price. Further they can optimize their presence on Amazon with an analytics tool.
Lost, but found: Amazon owes you money!
One disappeared item, one incorrectly booked return … On average, FBA sellers who use the SellerLogic Lost & Found tool get more than 6,300 Euro per year refunded by Amazon (as of April 2019). However, large retailers with many FBA shipments may receive much higher sums for FBA errors.
This is because debugging often fails due to the available resources. Up to twelve FBA reports need to be consulted per transaction and then applied for reimbursement from Amazon. This high input of time and staff is usually not worth it without a suitable Amazon analytics tool.
With Lost & Found, the workload is reduced to a minimum. The tool automatically analyzes the user's FBA transactions and creates a case for each suspicious transaction. Even the application text is pre-formulated and only needs to be copied to the Seller Central. In this way, merchants also get smaller reimbursement sums back. But a penny saved is a penny got, right?
Conclusion: Well positioned with various tools
In merchant groups it is undeniable that, for success on Amazon, an analytics tool is essential. Whether Amazon users rely on Sellics, Jungle Scout, Amalyze or a completely different tool is less decisive. The functional range of the all-in-one solutions is often quite similar. Accordingly, personal preferences and needs play a major role, even if one decides to get along with a free Amazon analysis tool.
To be among the sellers with the most clicked items, beyond an Amazon product analytics tool further measures are necessary. In any case, this includes the use of an intelligent and dynamic repricer. It automatically adjusts prices on the online platform. But sellers should also automate the detection of FBA errors. Otherwise, they will lose cash.