The Amazon online retail platform provides opportunities to third-party sellers to market products and maintains a healthy flow of revenue and profits. However, the competition is intense, and sellers find it daunting to adapt to the changing market and customer trends, making it challenging to market the right products. Hence, they need proven strategies to boost their sales and outrank the competition. Sellers need to implement reporting, analytics, and information delivery framework to keep sight of the actionable data points and make effective real-time decisions about their product portfolio. Business intelligence (BI) needs to be at the center of an Amazon seller’s business workflow.
The profitable nature of e-Commerce attracts sellers to Amazon’s FBA (Fulfilment by Amazon) business. While it has high sales potential, an inadequate strategy can cause them to fail. Sellers need a 360° view of your product, customers, sales, and performance. Selling on Amazon is not just about getting the listings right. Through ads optimization, they should focus on product visibility and awareness and bring customers into the marketing funnel. It will help refine the targeted traffic and send the purchase-ready customers to your Amazon listing, improving your conversion potential. Moreover, sellers must focus on incorporating customer reviews to address gaps and optimize sales.
Besides focusing on data collection, the sellers also require a technology provider to view data. Amazon’s all-in-one app dashboard enables data visualization, putting into perspective what the data means. With the help of maps, graphs, and charts, the dashboard makes it easier to identify trends, patterns, and outliers within large data sets. Dashboards empower the sellers to remove the noise from data and highlight useful information. It communicates information clearly and concisely, allowing sellers to get more visibility into inventory, forecasting, and order tracking.
Use of Dashboard for Amazon Sellers
The dashboard feature for Amazon sellers is an innovative tool that can make it easier for them to conduct business on the Amazon platform. It accumulates data to a central location, enabling sellers to visualize data and form the right selling strategy. The dashboard provides you with an overview, allowing you to handle details and focus on profits.
Seller dashboard functions as an ‘information management tool. It helps track, analyze, and display KPIs and metrics to monitor the Amazon selling business health. The dashboard immediately updates, making it easier to track real-time information. Depending on your requirements, you can customize the seller dashboard to view crucial data points, like sales trends, traffic, customer engagement, revenue and growth, and other business-related information.
Integrating a good front-end dashboard can bring multiple advantages to Amazon sellers. It automatically gathers the business data to help you understand your product volume, inventory, profitability, and customer reviews, among other things. You can set up a customized dashboard to eliminate the confusion that excessive data presents and minimize time consumption. Some benefits of using a dashboard include:
- Total Management Insight: Dashboard enables data tracking by automatically putting relevant information in front of you. It helps you know what is working fine for your Amazon selling business and what you need to adjust. From your ad and email campaigns, types of customers, to the number of sales, the dashboard becomes the ultimate means to monitor and enable comprehensive improvement of Amazon FBA business.
- Reliable Management Reminders: Automated reporting is an exceptional benefit of these highly-functional dashboards. The admins can select specific information to receive in their email at regular Intervals to stay aligned with their day-to-day operations. It prevents the tedious task of manually reviewing each statistic. Thus, if any area requires immediate attention, it allows you to complete the tasks faster.
- Bird’s eye view: Dashboards provide sellers with a bird’s eye view into various metrics and KPIs. It helps you get at-a-glance visibility to establish yourself as a top-tier Amazon seller. Such improved visibility helps in pinpointing areas you must address, identify and respond to market trends, competitively priced products, and maintain a valuable profit margin.
- Accurate forecasting: An all-in-one seller dashboard built with appropriate KPIs can provide a comprehensive picture of past and present activities. Data-driven dashboards thus offer you forecasting benefits. The forecasting dashboard use data analysis to effectively predict future outcomes. For Amazon sellers, the data points pertaining to trend forecasting and customer behavioral analysis to adapt business models and boost business. It allows them to take action early, optimize inventory levels, and stay on top of business trends.
- Easy to use reports: Real-time reporting is another key feature of dashboards. It presents the report in a single/viewable space. The consumable format provides a dashboard with a steep learning format. It helps understand the necessary data points depicted via the chart, diagram, picture, etc. The customizable informative reports are easy to read and share. The interactive reports allow the team members to collaborate in real-time and remain updated at each juncture.
These are a few important benefits of integrating an all-in-one app dashboard into your Amazon business. On the right, a customized dashboard will reduce the amount of time taken to put together detailed reports. It will build clarity around the core KPIs and put a spotlight on the metrics that will directly contribute to developing the bottom line of your Amazon selling business.