Amazon has a maze of business reports. CashCowPro simplifies and expands on the Amazon reports to give you a better insight into how your Amazon products are actually doing.
In this article we cover the main 7 Amazon reports you need to pay attention to as a seller.
Report #1 Pay Per Click
Each week on the same day, download all your advertising reports and use Excel to quickly sort through the data.
Filter out all keywords that are losing you money and delete these from any campaigns. Move keywords that are performing well into a separate campaign.
Staying on top of PPC is really important as the performance can change a lot week to week. The Advertising section in CashCowPro shows you exactly how well your PPC is performing.
Report #2 Asin Sales and Traffic
This report shows you your sessions, buy box and orders by SKU.
You can also see your conversion rates shown in the unit session percentage column. Anything under 10% conversion can be drastically improved.
If you increase your conversion from 5% to 15% you’ll triple your profits and sales. You’ll also automatically boost your ranking.
CashCowPro tracks your conversion day to day in an easy graph and can also produce reports on all these key metrics. You will see that conversion can swing from 15 to 30% during the week.
That’s why you need to look at a chart of 7- or 30-days to give you an accurate picture of what’s going on.
This is probably the most important reporting section of Amazon. From Sales to number of customers looking at your products – this data is the backbone of your business.
Report #3 Inventory in Stock
This report shows you your current stock level, how many days of stock you have, our average weekly sales rate and your sales rank.
You can sort by the estimated days of cover and quickly see which items you may need to consider restocking. The secret formula for knowing how much stock to keep is simply to multiply your sales per day times your restock lead time.
The formulas in CashCowPro give you an accurate estimation of when you need to re-order. But this is something you need to monitor week to week.
It is essential you factor in public holidays overseas at your manufacturer’s location into any lead time calculations too. And be ready for any sales peaks like Prime Day or Quarter 4 sales.
Report #4 Issues
The problem with Amazon’s data is that it’s actually quite limited.
It’s split across many different parts of their system and not easy to read or interpret. They’re also missing a lot of key data points which we will cover shortly.
Report #5 Keywords
Amazon is a search engine.
The first thing someone does is look for a product they want to buy under the categories or by searching for it. Keywords are the most essential part of your listing, but other than the pay per click report, Amazon seller central does not give you any statistics about keywords.
You can use a tool like CashCowPro to track your ranking by keyword. It will tell you what your position is on the page for each search term and it will also track day-to-day changes.
It’s vital you check this on a weekly basis. Monitor your top 10 keywords and keep your product on page one for each.
Start by optimizing your listing and running promotions for the least competitive main keyword, but over time run promotions and pay per click so that you rank for all the main keywords in your niche.
This can take 3 to 6 months or more to achieve.
Report #6 Net Profit
It’s easy to see how many orders you got and total revenue in seller central, but to be able to manage your business effectively you need to know the sales by SKU and the profits for each product on a daily basis.
The CashCowPro software and app lets you monitor the performance of every SKU and calculates how much profit you’re making for each. Amazon does not show this data.
So invest in getting the tool, and then once a week do a detailed review by product to ensure your sales are growing.
Report #7 Own Reports
Because of all the gaps in Amazon’s data, and because you have to download many different reports to have all the key metrics in one place, it’s better that you set up your own report tracking.
CashCowPro software lets you check all key metrics instantly online and also provides a free report for your product performance.