The beauty of an Amazon business is that it can be fully automated and the sales funnel is already there.
With Fulfilment by Amazon (FBA), Amazon will do most of the work logistics-wise.
However, your Amazon business can not function fully by itself. It has many moving parts and requires some management on your part.
Many tools can help you achieve success as an Amazon seller. These tools will help you automate and outsource tasks that would otherwise require tons of time and energy on your part.
Let’s dig some of them.
Amazon Product Research Tools
The first and most important task that you are faced with as an Amazon seller is to find a suitable product to sell.
Although you can browse through Amazon’s bestseller categories, you can also look at Google trends and see what’s popular on Instagram.
You could also take a look at different tools for product research.
Keyword Research Tools
The second category of tools that will benefit your business on Amazon is keyword research tools.
This kind of software can help you identify keywords in many different ways.
On the one hand, such tools will also show you which search queries customers use to find products like yours. They will also show you which words and phrases you need to include in your product description for your buyer to find your product.
Finally, they will explain which search queries are likely to be well matched to Amazon’s search algorithm, which will increase the likelihood that your product will appear on the first page of the search results.
Google Keyword Planner might be a great way to brainstorm long-tail words once you get an overview of your keywords.
Product Listing & Inventory Management
The tools that help you identify suitable products and the right keywords, which match your product is half of your battle won.
However, from there, you will need to place your product on the Amazon website and start selling it!
Luckily, again, many tools can help you.
These include product management and inventory tools that ensure you make a perfect copy to sell your products and keep a close eye on your inventory.
One option that I see often recommended is Shopkeeper, who use your sales history to tell you when you need to repurchase a new batch of inventory.
Besides, if you want to keep track of your competitors’ inventory, you can also access AMZScout Stock Stats, which another free tool that provides great analytics for your business.
Order & Shipping Management
What happens after the orders start coming in?
When you think about it, the most important consideration for you as a seller is whether you want to register your business with Amazon FBA or not.
Once you get an order, Amazon will do all the behind the scenes work necessary to deliver the product to your customer. That is the beauty and benefit of the FBA program. Amazon will pick up the product from the warehouse shelves, pack it in a box, label it, send it to the customer, and even notify them that it’s on the way.
Of course, you don’t have to use Amazon FBA for your business. Instead, you can choose to order your products manually.
However, if you do this, you will need to use an order management platform to make everything clear and understandable. Of these, we would recommend ShipStation, which makes order management simple and convenient.
Alternatively, you could use an all-in-one e-commerce platform such as Shopify and their seamless integration with Amazon FBA.
Tools for Price Management
One of the greatest mysteries for any Amazon retailer is how to determine the price of their products.
Perhaps you’d be better off selling ten units a day at $20 a unit or raising prices a bit higher and selling fewer units a day, but getting healthier margins in general?
Of course, maximizing profits may not be the only reason you need to resell your products. You may also find that another seller competes with you for a Buy Box. Amazon determines which seller earns the opportunity to sell it to customers.
In this case, it is often to your advantage to sell at a lower price than your competitors and be sure that most of your competitors already use some sort of Amazon repricer.
Don’t lag behind.
Recommended reading: What Is The Best Digital Advertising and Sales Funnel Platform for Your Business?
Accounting & Expense Management
As soon as your Amazon business starts selling products like crazy, you’ll need to quickly figure out how things are going to function at a larger scale.
In other words, it’s good to generate much revenue from your primary business, but it is crucial that you dig deeper and determine how much profit your business will bring to Amazon. You need to be aware of the top and bottom price of yours.
The tools available for this task come in a few forms. At the micro-level, you can use the FBA Calculator to help you determine how profitable the product will be, after the payment that Amazon charges for sending and fulfilling your order have been deducted.
This analysis, known as the Specific Economic Efficiency Calculation of your products, should be the starting point for any product research you do on Amazon.
Scaling down also allows you to determine the profitability of your Amazon business, without taking into account the different expenses that are unrelated to Amazon.
The owner, using the software we mentioned above, downloads all this information to a bright and easy-to-read dashboard, which then calculates the performance of your business for any time that you wish to select.
Finally, there are also cloud-based DIY accounting services that you could use to calculate how your business will work at a macro level.
The old and trusted way, which has been around for decades and which you may have heard of, is Quickbooks.
Many Amazon vendors have also seen a success rate by using Xero, which is a little cheaper and more user-friendly than other alternatives in its category.
Tools for Legal Requirements
Unfortunately, accounting tools are not the only software you need to manage your Amazon business.
No need to hire a lawyer (unless it’s Saul Goodman) or a luxury law firm. Check out LegalZoom.
Review & Feedback Management
There are also tools available where you will need to give feedback on your product after it is launched, as well as manage feedback when customers buy your products.
The first set of tools in this area will help you generate feedback for your product to increase traffic and conversion rates. A good way to do that is to send a series of “after-sales” messages through Amazon, asking customers how they like the product and getting them to leave their feedback.
One can do that manually, but it’s quite cumbersome, so I strongly recommend you to automate the process with software (duh).
Two types of software that work perfectly for this is – Salesbacker and Feedback Genius from SellerLabs.
That is an approach to avoid negative product reviews or to change it from a negative to a positive one. To facilitate this feedback monitoring feature, you could use ReviewSender, which sends notifications directly to your inbox when any new reviews are received.
To sum it up on tools
Business management on Amazon can be straightforward.
If you can identify some great and popular products and deliver them to Amazon, you will see how the money starts to flow.
However, there are some aspects of doing business on Amazon that require extra time and effort, such as product research, monitoring feedback, and compliance with legal issues.
That is where considering the right professional seller tools can help you have a successful Amazon business.
This is a contributed post.
Author’s bio:Dmitrii B. is the CEO and founder of GRIN tech – full service & white-label agency.