It was predicted that the world will witness the growth of e-commerce sales by approximately 10% from 2020 to 2025, according to the Euromonitor forecasts.
There’s no doubt that the COVID-19 pandemic has accelerated this shift to e-businesses. With the vast growth of the e-commerce industry and online shopping, every FBA seller on Amazon needs effective tools which are backed up by experts, so that they can meet their sales objectives and remain competitive.
Whether you want to grow your sales or boost your competitiveness in the market, there are essential tools that every FBA seller on Amazon should employ to make your lives easier. Here are the most beneficial tools that you need.
1. Product Research Tool
An FBA seller needs a product research tool to carry out a detailed market analysis. It analyzes millions of profitable products that are sold on Amazon and provides data analytics about competitors, saving you hours of market research. This can help sellers:
- spot market gaps
- choose a high-selling product category
- Come up with product ideas
- specialize in a highly demanded product that can bring about large profits
- Determine the price of products
2. Keyword Research Tool
A keyword research tool is of utmost importance when it comes to selling products or services online. Many software tools use Amazon Standard Identification Numbers or ASIN’s which can help FBA sellers find out which keywords generate the highest traffic, and which keywords can result in better listings and higher sales.
Choosing relevant keywords that can boost your product’s visibility is essential as it attracts more sales and profits, and increases brand recognition. Reviews are great indicators of any product or service. When doing your research, you will notice that most of the helium 10 reviews state that this marketing tool can help increase your product recognition and boost your sales in a very short time.
Any FBA seller requires effective SEO tools and software like keyword optimization that can go hand in hand with their marketing activities and boost traffic for their products. Some tools continue and assist you with your listings by providing related data about their performance.
These tools can help you determine what information to include, and how to match and organize the keywords with your listings. All these factors can make your listings more effective and supercharge your sales volume as well.
3. Security Tool
Just like any ordinary retail shop needs proper security, an online seller also needs a security tool. There’s always a risk of theft and fraud online, which is why an FBA seller needs a security tool that protects their accounts and passwords and monitors hijackers.
Security tools can send alerts via your phone or email whenever someone tries to access your listing. So it protects sellers by sending reports to Amazon in case of any unusual activities or hijacking incidents. If you’re concerned about unauthorized sellers, a security tool protects your brand from trademark and copyright violations too.
4. Inventory Management Tool
Keeping track of inventory is a must. An inventory tool helps you meet customer demands by ensuring there’s enough stock to meet your orders. They provide data related to the warehouse, JIT inventory, supply chains, shopping carts, and orders.
Some inventory tools also inform you which products are making the most sales, and which products are at their decline stage. This helps you decide which products to order and which products to stop selling, reducing unwanted and obsolete stock.
5. Pricing Tools
As an FBA seller on Amazon, pricing your products in a dynamic and competitive market can be pretty daunting. A pricing tool can be very useful as it can gather data about competitors’ prices and set a suitable price for you that will help you compete and maintain your position in the market.
Repricing features allow you to change the prices of whole product lines. This can be very lucrative especially when you want to quickly respond to competitors changing their pricing strategies by adjusting your prices to stay ahead in the game.
6. Profitability Tools
Using a profitability tool can support your product analysis efforts by keeping track of your profits. It calculates many ratios including:
- Gross profit margin (GPM)
- Operating profit margin (OPM)
- Return on investment (ROI) or profit before tax
- Net profit margin (NPM)
All these profitability ratios can help FBA sellers evaluate, measure, and correct their performance. Yet, they can be very complex and time-consuming to calculate on your own, which is why you will need this tool.
Maintaining a successful Amazon business can be challenging. However, by knowing the latest market trends and integrating the most productive practices, you will be able to manage your business smoothly and strengthen your brand.
Using the tools that we mentioned above can save you a lot of time, money, and effort. They will help you run your Amazon business and make your sales go through the roof.