How to Maximize Profits for Your Amazon Best Sellers ?
There is an 80/20 rule that generally holds true. The 80/20 principle is that 80% of success comes from 20% of your actions. For Amazon sellers, it means 80% of your sales likely come from 20% of your products. You need to continue to sell your best-selling products to have that constant revenue stream. Once you identify the best-selling products, you want to protect these cash cows so they will keep creating consistent sales for you.
We have four recommendations to help maximize profits of your best-selling products:
- Track your best-selling products
- Check customer health
- Request reviews
- Monitor your reviews and tickets
Let’s go into each of these steps.
1. Find your best-selling products and track them using the product tracker
The first step is to find your best selling product for a certain period. After finding your best-selling product, you can track these product sales. Although Seller Central offers reports to track your sales, it can be difficult to track overall sales and find comparable metrics from each Amazon marketplace’s sales report if you sell across multiple channels.
Using BigCentral’s Profit Dashboard, you can quickly uncover your profitability from all channels you sell on. And you can track the products by adding the products to BigCentral’s Product Tracker. You can check Amazon’s Best Sellers Rank (BSR), Total Reviews, and Total Sellers if your sales rank drops a lot. You can consider lowering your price, additional promotion, and advertisement to keep your positioning.
In the Product Tracker, you can also set alerts to get notified if your seller’s ranking has dropped or if there are new sellers that start to sell the same products, and set alerts when you receive negative reviews so you can take action fast.
2. Check customer health in your Seller Central
The next step is to go to your Seller Central account and check the NCX (negative customer experience) rate in the inventory tab. It’s important to ensure that your customer experience health is in good standings. To access your product CX health, click on the Voice of the Customer tab. This way, you can take action before your listing is considered poor in CX health to keep your listing active.
The worst thing to happen is your best-selling product listing to be suspended right in the middle of the busy holiday season.
3. Automate email campaign to request reviews
Third, this is a good opportunity to ask for reviews from the customers who purchased your best-selling products. The more products you sold, the more people will likely leave reviews, and the more people will be interested in buying your products. So make sure to turn on the automated campaign to request reviews for this product to generate reviews.
4. Use alerts as a brand reputation monitor
Fourth, you can set up automated alerts so you are notified of any new feedback from customers.
Make sure to also set the alerts for reviews. We recommend you to select 3 stars and below so that you will get an automated alert if there are any negative reviews.
You can also set an alert for any review changes in your account with BigCentral’s Review Manager.
To discover more features and benefits of using BQool BigCentral to help you maximize profits for your best-selling Amazon products. Watch the video below to get more tips given by Sam.
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