Working smarter, not harder, is the recipe for success in the digital business world. For those of you running ecommerce stores, “working smarter” usually means automating and streamlining time-consuming processes.
Fortunately, most ecommerce platforms have relatively open environments, allowing you to extend their management features with third-party tools.
Amazon is no different. The online retail giant is more than happy for software developers to create products that allow their sellers to get more efficient and profitable.
In this article, we’ll take a look at four externally-developed Amazon tools that will help your store reach its potential in the coming year.
1. Inventory Management with InventoryLab
Composed of two unique business solutions (Scoutify and Stratify), InventoryLab offers a host of features for Amazon sellers focused on streamlining and improving virtually every aspect of their stock management processes.
Here’s a short list of just some of the things InventoryLab’s Stratify tool will help you with:
• Easily monitor stock levels and the value of current inventory.
• Adjust stock prices.
• Create FBA shipments as orders come in from customers.
• Keep track of your expenses, revenue, and profit.
• Research and provide data on competing products.
• Analyze high-level Amazon data to measure your store’s performance.
Scoutify, on the other hand, offers the following:
• Bluetooth barcode scanning hardware for streamlined stock ingestion.
• Detailed metrics on the feasibility of a potential new product.
InventoryLab interfaces directly with Amazon data, setting it apart from competitors in a niche that’s becoming saturated with options. It’s easy to use, it offers a 30-day free trial period, and it’s also surprisingly affordable.
2. Keyword Research with Keyword Tool
Amazon’s A9 algorithm – the machine that drives the platform’s search results and rankings – is a complex thing to understand.
In fact, much like Google, Amazon does all it can to obscure the logic that defines how product listings are ordered and served to a user.
What experts agree on, however, is that the intelligent use of keywords on your product pages is as critical to a great rank as anything else. To see your listing near the top of search results, it’s essential that you do research into the search terms that your customers are using when looking for products like yours.
This is not a task that can or should be done manually. Fortunately, there are some amazing tools out there that can help you in this regard. None more so than Keyword Tool.
This awesome, free program offers Amazon sellers an incredibly simple interface and reports information in a highly intuitive, easy to understand format.
3. Simplify Reimbursements with AMZRefund
There are many moving parts to Amazon’s complicated reimbursement process. Many of these represent quite a bit of risk for the seller since Amazon isn’t known for the clarity of its communication in this space.
What often happens is that customers don’t return items once they’ve requested a reimbursement. Amazon gives customers 45 days to do so, and if this doesn’t happen, the money clawed back from the seller is usually returned to them.
However, sometimes the onus falls on the seller to audit their reimbursement data to manually get this money returned to them. This is, as you can imagine, a tedious process - especially if the store has high sales volumes.
If you find yourself in this position, consider using a tool like AMZRefund. This awesome tool offers a variety of reimbursement and account management features, all available for a flat monthly fee as opposed to commission charges.
With AMZRefund, you’ll be able to assess your sales history going back 18 months to see if you’re owed any money by Amazon – money you can put to use in growing your business.
4. Choose the Right Products With Jungle Scout
Diversifying your inventory is critical to seeing increased growth and revenue on Amazon. But this process isn’t as simple as simply choosing something that you think looks cool or performs well on other Amazon stores.
There’s a lot of research that goes into selecting a new range of products, and it’s best to do this research with a tool designed for this task.
If you’re relatively inexperienced with the process of assessing the feasibility of new products, consider using Jungle Scout. This awesome program does a lot more than gather product data, but this is where we’ll focus for now.
Using actual data scraped from the Amazon marketplace, Jungle Scout gives you literally every single metric you’ll need to make a decision about a potential new item for your store. It even goes so far as projecting the sales figures and profit you can expect with a particular product.
Some Closing Thoughts
Innovative tools aren’t a guarantee for success. All that they allow store owners to do is limit the time they spend on tasks that can be automated or performed more effectively by a system.
This means you’ll have more bandwidth to work on things for which you previously had no bandwidth. That might be building better relationships with your suppliers, interacting with your staff to improve their performance, researching ways to diversify or expand, and much more.
There’s a vast number of ways you can enhance your store’s performance by applying your free time to thinking strategically. Think of the tools we listed in this article as a means to this particular end.