The COVID 19 pandemic has been a scary time for us all. It has also been a time of opportunity for many. As the pandemic continues to rob people of their livelihoods, several have used the economic downturn to open businesses online. These businesses, more often than not, are facilitated by “Fulfilment By Amazon” or FBA. This is where you send your product to Amazon and they handle shipping, delivery, and customer inquiries for you.
As a business owner, it makes your life easier as this is one thing you no longer worry about. However, for a novice entrepreneur, navigating the world of FBA tools can be daunting. There are so many metrics to keep track of and so many different kinds of software to help you. What you need is are FBA tools. These will help you manage this end of your business. You’ll also need some advice on what are the best tools to have.
What Are FBA Tools?
FBA tools are software that will help you monitor various aspects of your online business performance.
Your tools can be software from different providers, or, it can be a suite of software created by a single provider. Understanding that you need FBA tools for your Amazon business is one thing, knowing what to measure and what software will do this for you, is another.
What FBA Tools Do You Need?
As a new entrepreneur, you may only need or want to keep track of a few metrics, as you get your bearings. Once the business starts growing, you may need other information to direct its tactics and strategy.
Some of the FBA tools they’ll need at both stages include:
● A Product Researcher
Before getting into business, you must have an idea of what products you want to sell on Amazon.
- Product researcher software will help you assess:
- What are the best-selling products on the platform?
- If you’ve made a product choice, which is the best selling products in your category
- What are your potential daily sales?
- How many sales are your competitors making daily?
Clearly, that’s a powerful tool in your arsenal. It will help you pick the most competitive product to sell as well as give you insights on how to beat your competition.
Two of the better-known FBA product research tools are Helium 10 and Jungle Scout. Several sites will give you a breakdown of Helium 10 compared with Jungle Scout and any other such software. As you will see they come with different features and a variety of price points.
● A Keyword Researcher
If no one sees your business or products listed on Amazon, do they really exist? This tool will help you assess which keywords your customers are searching for. Once you have this data you can begin improving your SEO and have your products list higher.
● Sales and Marketing Data Analytics
Another important tool, you will need this to see which of your products is selling and who are the people buying. This data is presented in a variety of formats. You can see your sales on a daily basis. You can look at your sales over an extended period of time and make comparisons and see what products sell best and when.
You can also track how much you are spending on advertising as well as how effective your PPC advertising and digital banners are in attracting customers. This information can help you decide to switch products or drop products altogether as you determine which will be most profitable for you.
● Revenue/Tax Management Software
You may make profits in your business, but death and taxes are certain. Not paying the applicable local, state, and federal taxes on your product sales can land your business in trouble.
This FBA tool takes the mystery of adding taxes to your sales prices, so they are correct every time. They also make it easier for an online business to remain compliant with IRS tax regulations since most of their processes are automatic.
● Autoresponder Software
Reviews are the lifeblood of an online business. The more positive reviews you can generate, the better for your business. An autoresponder generates emails to get your customers to provide that all-important feedback.
Autoresponders can also allow you to quickly and/or remove negative reviews that can harm your business. Some autoresponders come with additional features, such as sending personalized thank you emails to customers after a sale or letting your customers know the status of their order.
You don’t have to be overwhelmed by the idea of doing business online. As you can see, there are several tools to help you out. All you need to do is select which are best for your needs.