This lesson will walk you through the incredibly valuable data that Amazon provides you on your business within their reporting system. We will also cover a daily tracking spreadsheet that you can use to help manage and grow your business.
One quality that you will find in most successful businesses is that they constantly strive to understand everything they can about their business and the market that they operate within. This includes how well their sales are going, how they are performing compared to their competitors, which marketing strategies are/are not working, how efficient they are at managing their inventory, and countless other aspects of the business.
Now while many companies struggle or spend a lot of money to develop a system to report on such information, Amazon has made this very easy for us by including a large number of very detailed reports that are at our disposal. Unfortunately, most Amazon sellers aren’t familiar with these reports and choose not to use them, which can be a big mistake and can lead them to either make incorrect business decisions or not make decisions at all.
Knowing your numbers is critical to growing your business and will give you the information that you need to turn it into a million dollar a year machine.
This lesson will cover some of the more important reports that you can use and help explain:
• What reports are the most valuable
• What information you can get from them
• When you want to look at them
• What decisions one might make from each
Primary Purpose: To see how your sales are going that day, and to also compare sales over time.
Primary Purpose: To see how much traffic your product detail page is getting and how well it converts once customers get to it. Also allows you to see how many times customers are refunding your products, which can be a sign of a product issue
Primary Purpose: This is the same as the previous report (By Date), but breaks down the information by product.
Inventory Reports Inventory Health
Primary Purpose: To determine when you need to order more inventory so that you do not run out.
Primary Purpose: To determine how many products are being returned and the reasons for it happening. This can help you determine if you are having any manufacturing or shipping issues, and can also give you the opportunity to reach out to customers and see if you can solve whatever problem they had with your product.
Advertising Reports Performance Over Time
Primary Purpose: To show how your campaigns in total are performing day by day.
Performance By SKU
Bid by Keyword
Primary Purpose: Knowing how your bid compares to the average winning bid can help you set your bid strategy. Use this report to estimate how much to bid on a keyword.
Other ASIN Report
Primary Purpose: Knowing which ASINs are purchased after customers click on your ad will help you analyze your campaign performance and make adjustments to meet your business goals.
This lesson covered some of the most important reports that you can get started with, but there are still other reports that Amazon also makes available. Feel free to take a look at them and see if you might find value in them too.