When you are selling things on Amazon, you would have noticed the Amazon Business Reports, at least once. You would certainly see this after opening your Seller Central account. But, given the complicated nature of this record, you must not have looked for long. So, you could not have made a proper assessment of this feature.
Indeed, there is a lot of data that appears in the Amazon Business Reports. So, it is normal to get overwhelmed, just as many others have. After all, it is full of rows of graphs and figures. It is easy to miss the information within when you look at it at first. Also, one may not know what parts are good for them and their business.
In reality, it is very crucial to access one❜s Amazon Business Reports when they are an Amazon seller. It would help immensely in growing sales. You can use the vital metrics that are present for you in this.
Indeed, we would go further into details regarding this soon. But first and foremost, you need a better understanding of the concept of Amazon Business Reports itself.
What Is The Meaning Of Amazon Business Reports And Where To Get It?
The main objection of Amazon Business Reports is to give you valuable information that you can utilize to improve your advertising and marketing strategy. You would find such reports in your seller central accounts, specifically on the main tab.
There is a lot of insightful statistics present in these reports, and other complicated information too. You must focus on the data analysis to find and utilize the important points. As a result, your success potential as an Amazon seller would increase.
Amazon Business Reports is essentially the story of your store.
The kind of data you would find here is diverse. It would tell you about the customer interaction with the products, the frequency of their orders, and the number of products they order in one transaction. All of this is very important to check to understand the profitability of your Amazon business. And you need to use this data to further improve the potential.
Types of Amazon Business Reports
Truly, when you first look at the Amazon Business Reports as a whole, the amount of information is too much and too complicated. Thus, insteadof deciphering each point, you should concentrate on the most pivotal aspects only.
You would find the most useful metrics present in the Amazon Business Reports. As for the factors existing in this that would help you grow your Amazon business, they are:
1. Units Ordered
2. Total Sales
3. Page Views
4.Number of Sessions (Traffic)
5.Conversion Rate or Unit Sessions Percentage
6. Buy Box Percentage
Luckily, it is easy to understand unit sessions percentage and traffic data. Indeed, you can easily assess how many sessions you are getting on your listings. You would also get details regarding this traffic shifting into a sale, which is extremely important for any Amazon seller to know.
When you grasp this part of the Amazon business process, you can take proper control of your prospects. So, let us go forward with assessing each of the metrics as mentioned above. Then, you can use that information to properly boost your overall sales on Amazon.
Meaning of the data: This information mainly details the total amount of product the customers have booked from you.
The way you can use this data: You can take note of your unit order and figure out any troughs or peaks in the total easily.
The next action you can take on the basis of the data: The volume of the units that are requested has a direct effect on your Amazon product ranks. Therefore, your rank would automatically increase when you sell more units.
This is important for you to prioritize, and in case it is not occurring properly, you must promptly try to assess the reason. The lesser ordered unit volume is connected to the sessions and the page views. We would give details regarding this shortly.
Total Sales (Gross Product Sales and Ordered Product Sales)
Meaning of the data: This is about your total sales, depending on the calculation of your total ordered items multiplied by the item price. The Gross product sales include the total product sales, shipping cost, and any extra add-ons like gift wrapping. It signifies the total money your customers have paid for the product. This is not simply the products original cost and would appear in your ordered product sales details.
You can use this data: You can use this to trace the total number of your product sales. This may include shipping costs and add-on costs. You can then assess the gross and net figures to know exactly how much profit you are making.
The next action you can take on the basis of the data: Your ranking would also see an effect from your revenue. With this data, you can check the total units sold, the sessions, and the page views to understand your Amazon business❜s overall performance.
Meaning of the data: This shows the information regarding how many times customers visited your Amazon store. The view counts for all the different pages occurs separately for each. Therefore, if a customer opens more than one page, the count would add to each of their individual counts.
The way you can use this data: You can see when your page views are going down or up. In case you spot a fall early, you can make the necessary changes to improve the count.
The next action you can take on the basis of the data: The simple theory behind this is that if your page views are less that means many people are not browsing your products. Therefore, you need to examine why the popularity is low. You can see if the product titles have the relevant keywords or if you have won in the Buy Box ranking. The higher the traffic, the more conversions into sales. Consequently, higher conversions mean a higher search ranking. Therefore, this is an important metric to focus on.
Number of Sessions (Traffic)
Meaning of the data: This metric point focuses on tracking your Amazon business page❜s total traffic. This portion is a very easy-to-understand part of the Amazon Business Reports.
To comprehend better, think of it this way:
1. A customer opens your store on Amazon.
2. They see a product once, but do not move it to their cart.
3. They see the second product and add two of them to the cart.
4. They do the same for the third product, but only one unit.
5. They check another product, choose two units at first, and then remove one of them from the cart.
All of these individually add up to the page views, so you have four page views in total. However, it counts as only one store visit. Therefore, the session count is one for this. In essence, it is similar to a supermarket visit. To elaborate, during one trip, you can visit many shelves and pick products from them.
The way you can use this data: You can assess the page view and session data simultaneously. If you see both of their counts coincide, it means customers are not finding your products interesting. It implies they see one product and then leave the store. Thus, the page view and session counts are both one.
The next action you can take on the basis of the data: After you see that shoppers are not finding interest in your products, it would mean that you would not sell more. Thus, you can analyse this and figure out what is responsible. In case your product listing shows lower than 100 sessions each month, you should check if you listed it in the right category, if the images match Amazon guidelines and keyword density in the title. You can also check your pricing strategy. As a result, you can figure out the problem areas and make the necessary changes. And that would improve your session data and page view count.
Unit Sessions Percentage
Meaning of the data: Consider this- your Amazon store got 100 visitors but only 25 of these visitors ordered any products. Therefore, the percentage of your unit/order session would count as 25% (25 divided by 100). Similarly, 10 shoppers visited, but only one of them did not order anything; the rest did. In this case, the percentage of your order session would appear as 90% (9 divided by 10).
Therefore, the main calculation here is the number of placed orders divided by the total number of individual sessions on your Amazon store.
The way you can use this data: In case you notice that the total unit session percentage is less, that means so is your product ranking. Therefore, you can take the necessary measures to fix it.
The next action you can take on the basis of the data: You can look at this information to understand which products are successful and which are not. In reality, a suitable Amazon conversion rate ranges between 10% to 15%. And you should aim for at least the average percentage, i.e., 9.7% or more. Furthermore, you can check how your conversions and sessions add up altogether through this metric feature. Consequently, you can make changes in the images, product listings, and images, if required.
Buy Box Percentage
Meaning of the data: The Buy Box percentage would give you information regarding the number of times the customers have seen your product in the Buy Box place.
The way you can use this data: In case this percentage appears high, that means that your product is getting the Buy Box position consistently. That is an indication that the Amazon algorithm considers your product suitable for many customers to buy. Due to this promotion, your sales would increase as well. However, in case your product becomes out of stock or your competitor seller❜s items win this position, it would affect the data of your page views.
The next action you can take based on the data: If your percentage appears as low, that can mean that you and another seller are competing for the Buy Box position. Or, your product was out of stock at one point. It is very vital to make sure that your stock levels are always regular. You can change the item price slightly to win this position. Moreover, the shipping options and customer service standards of the sellers also affect the Buy Box eligibility. Therefore, you can propose free shipping to boost your chances.
What to Do With The Extra Data In The Amazon Business Reports?
To be fair, there is plenty of metrics and data available inside the Amazon Business Reports. And most of them are unnecessary information that you can simply ignore. Indeed, the main six metrics that you learned about this article are enough to analyze your Amazon business condition. You can find out about customer engagement with the product pages and the session conversion rate to sales.