Amazon is one of the leading online marketplaces where eCommerce businesses advertise and sell their products. A study by Statista shows that 54% of products sold in Amazon were all from third-party sellers. However, the platform lacks some essentials and advanced tools to help you manage your business online so you would still need a separate software solution for that.
But with so many options to choose from, you might find yourself overwhelmed during your selection. To help you narrow down your list, here are some of the crucial features you need to look out for when picking the best Amazon seller software.
1. Data and analytics
Using a data-driven approach to manage your online business allows you to make informed and smarter decisions. Thus, you would need an Amazon seller analytics software to gather and analyze data based on your sales, revenues, orders, units, and profits.
Captain BI, for one, is a business intelligence designed especially for Amazon sellers. It provides a comprehensive sales analytic overview of all your Amazon accounts where you can track detailed sales information for different marketplaces in real-time. In turn, you can use this data to improve your strategies and build a better brand on Amazon.
2. Inventory management
Selling products on Amazon is almost the same as when you sell in physical stores. If you still maintain an inventory of stocks, you need to have an inventory management tool to avoid overstocking or understocking.
This helps you quickly assess when and how much stock you should reorder. It analyzes your current inventory and determines how much to restock. Tools like CaptainBI have an added feature where it computes for your reimbursements if you choose the Fulfillment by Amazon (FBA) option.
3. Listing optimization
Amazon has over a million sellers using its platform. That means your products will compete with a million other products for your customers’ attention. Without the right strategies, your competitors might overshadow your products.
To make sure your products get the proper exposure, you need Amazon listing optimization software. This improves your product pages so they easily pop up in your customers’ searches. It also identifies the most popular search keywords so you can optimize the content on your product pages such as descriptions, titles, images, tags, and even your published reviews, resulting in an increase in your click-through rates and conversion rates.
4. Product research
Before you can start selling, you must make sure that there is a market for your products. This is where you check if a particular item will sell and for how much. With proper research, you can have an accurate estimation of your revenues, profits, and more to minimize the risk of loss upon entering Amazon.
An Amazon product research tool can help you with this task. It filters and uncovers winning product ideas based on your target market’s needs, niche, and preferences. Likewise, it gathers valuable information from the Amazon database itself. You can also use this tool to monitor your competitors’ products, prices, and sales.
5. Report generation
Having the right data doesn’t necessarily give you the whole picture. It only shows you the metrics of your products and performance. You still need to interpret this data to make it understandable and usable.
Hence, you’d need a report generation tool for your software to compile all the complex data such as your revenues, sales, and expenses, and presents it in a more digestible and comprehensible format. This allows you to gain deeper insights into your performance and operations in just a glance. FinancesOnline shares some examples of business intelligence software that provides reporting tools for your general business needs.
Enhancing your Amazon business
Many third-party solutions are available to help you optimize your Amazon operations. But most of them only provide limited tools and features, while others are only for product research, listing optimization, and so on. This forces you to avail two or more software in the process. But there are also software like Captain BI that act as all-in-one software solutions for Amazon sellers.