Achieving greater online success is something every Amazon Seller strives for. Quality execution of advertising campaigns is a critical part of that process. What has become apparent in 2021 is that without the use of technology and software tools, it’s difficult to achieve success and improved profitability for your Amazon business.
Your Amazon Seller account provides basic tools to manage products and orders. But your competition has access to each of these tools as well. If you want your ad campaigns to scale and deliver a long-term competitive advantage, far better solutions are needed. That’s where third-party Amazon Seller tools can help in the key areas related to campaign planning and execution.
If you are an Amazon Seller, you must utilize and understand some of the great tools and extensions that are available. This list covers critical assets every Seller should trial when it comes to optimizing their advertising efforts this year on Amazon.
1. Profit tracking (HelloProfit)
Every Amazon seller wants two fundamental things: an overview of day-to-day business and a detailed, ASIN by ASIN evaluation. Understanding the impact your advertising is having is critical to evaluating strategic ad decisions, understanding the performance of individual products and helping you make tough tactical decisions. If you need to quickly scan what's going on and see if there are major issues that need to be addressed. Amazon doesn’t really provide a great dashboard.
HelloProfit is designed in a way that facilitates profit margin calculations and data management. With the help of the tool, you can predict your own profits and make crucial decisions based on historic data and analysis. Decisions such as where to put ad spend, which products are suitable for variation considerations or which ASINs to discontinue.
Since HelloProfit has a convenient dashboard, you get access to all options straight away. It also helps you always stay aware of promotions, payouts, and sales, so you can basically manage all Amazon operations with this software.
2. Repricing (Feedvisor and camelcamelcamel)
While price isn’t the only parameter for being in the Amazon Buy Box, it’s a very important parameter. Dynamically adjusting prices can deliver a significant advantage. Price is one of the most important variables in the buy box decision.
If you sell a selection of products on Amazon, manually tracking your competitors’ pricing and adjusting your prices in Seller Central is nearly impossible.
The importance of competitive pricing makes a repricer tool a critical investment. Repricing tools allow you to set a threshold for how low you can go with the price, and the tool will ensure that you’re never pushed below that value. Repricing tools can take care of everything price-related, on autopilot, plus help you avoid price wars. For this category, we have two contenders:
Feedvisor offers AI-based algorithmic repricing as part of its platform for large sellers which includes strategic advertising campaign optimization, and brand and content management. It adapts to your inventory levels and competition in real-time, aggregating data points to reprice based on dynamic market conditions.
This is a tool you should be using every day, several times a day. It alerts you to price drops, as well as gives you updates on a product’s sales rank and price history — all useful information for Amazon sellers.
3. Keyword tools (MerchantWords)
Sellers should use keyword research tools to drill into Amazon’s search data and uncover which products shoppers search for, and in what volume (Amazon used to provide this volume data but stopped in 2018). Keywords help create sales-driven Amazon SEO optimized product listings. Most keyword research tools also size up the competition for any given term and even give you an educated glimpse at competitors’ profits.
As an Amazon Seller, you should be optimizing and improving your keyword listing all the time in order to gain a better rank, higher conversions, and, ultimately, get more orders. You should also be constantly doing keyword research for your pay-per-click advertising. One way to get started is to find out what keywords your competitors are targeting by performing reverse ASIN searches and use them to inform and benchmark your own keyword strategy.
But how do you really know if the changes you’re making are an improvement? Couldn’t a change that seems logical actually hurt your sales without a proven rank increase to back them up. And if your competitor has the first position ranking, how do you know what you need to do to take it from them?
A key tool to consider is MerchantWords. The advantage of MerchantWords is simplicity, you just type in a search term and it will give you all the similar searches and their volume. It will also show you the category for each of the search terms.This is very useful when creating listings to determine what keywords to target.
4. PPC automation (Prestozon)
Amazon PPC management software is key to managing and maintaining your pay-per-click advertising quickly and efficiently, saving you time and money. There are various kinds of Amazon PPC management tools available that can put you ahead of your competitors in terms of customer targeting. Let’s look at one — Prestozon.
Prestozon is an Amazon PPC management service tool. You will be capable of switching your keywords from those that are not searched for to those your customers frequently uses when searching for products that you sell. The major features and benefits include:
Setting target ACoS: Prestozon allows you to set your target ACoS for each campaign.
Bid Suggestion and Optimization: After setting your target ACoS, the keywords are analyzed at each bid and Prestozon provides you with suggestions. You can review each custom keyword suggestion or automatically apply them with a single click.
Automation: Rather than adjusting your bids manually, you can turn on Automation for each campaign.
5. Customer analytics (Nozzle)
The need for Amazon market intelligence requires daily insights on customers and their behavior. This leads to adaptive and creative strategic decisions such as bundling/multipacks, cross-selling, and optimized PPC campaigns driven by real-time insights and iterative improvement.
We believe that our own product, Nozzle, is the best analytics tool on the market. Obviously, we would say that. However, it’s not a baseless claim. Nozzle is a purpose-built AI-engine with some key features that simply aren’t available otherwise. Not only does Nozzle collate and display all of the standard Amazon metrics in an easy to view dashboard — AOV, ASP, CTR, ACoS, CAC, CPA, etc. — it pulls granular customer information from across the Amazon ecosystem to estimate CLV — customer lifetime value.
CLV is not a metric you can get elsewhere through Amazon. What Nozzle does is cross-reference the buying trajectories of individual customer purchase histories to estimate what product a customer will buy next (based on the product they just purchased) and estimate how many products that customer will buy total. Admittedly, this is an estimate, but it’s one backed up by data. This type of insight allows for aggressive ACoS strategies, targeted ads, and better strategic and tactical decision-making across your business.
The application of AI and machine learning to Amazon data is honestly producing quite a few new and innovative companies. It’s also worthwhile checking out others, including Dataweave — providing AI-based e-commerce analytics; or DataHawk providing all-in-one Amazon analytics software. We aren’t the only analytics company on the block — but our focus is only Amazon. What’s more, we can audit your campaigns and Amazon strategy, and provide you with a projection on how the application of Nozzle to your brand will help drive revenue and a competitive advantage on Amazon.
6. Customer Feedback (FeedbackExpress and Feedbackwhiz)
If you're not already using a feedback tool, you should definitely look into it. This will help you follow up with customers automatically and help you gain product reviews. Research shows that 84% of shoppers trust online reviews as much as a personal recommendation and 91% of shoppers occasionally or regularly read online reviews. Getting feedback when you first start is huge as it gets you those sales you maybe wouldn’t have got before.
The importance of feedback to success on Amazon naturally leads to the possibility of fraudulent or incentivised reviews. Amazon recently announced a ban on incentivised reviews for free or discounted products unless they come through the Amazon Vine program.
FeedbackExpress is very good at getting Amazon feedback, making you much more competitive and will contribute to your chances of winning the Buy Box. FeedbackExpress also claims it is fully compliant with Amazon’s Terms of Service.
Another comprehensive solution with a variety of tools to help you with all aspects of Amazon selling, Feedbackwhiz’s separate tools are all designed especially to track and analyze customer reviews and set up review feedback, while staying compliant with Amazon’s Terms of Service.
Trust the data
There are no shortcuts or tricks when it comes to having the right Amazon tools. Despite being aware of this, many Amazon Sellers can ignore the power of the best tools because it may take a while for the results to start coming in.
You do not have to break the bank to use top tools. Some of the Amazon software tools here are a very low price in relation to the competition and some offer a free trial. Whether money is tight, or cost is no object, you need to evaluate these tools to stay ahead and transform your advertising on Amazon.