In today’s time, businesses of all scales are expected to sell online at the globally famous eCommerce website i.e., Amazon. The potential growth of any company increases when they start selling their commodities on Amazon. The main reason for this is the traffic that the website gets because of its authenticity, reliability, and easy exchange & return policies. The net sales revenue of Amazon alone was around 469.8 billion US dollars in 2018. And the net income of Amazon was 33.36 billion US dollars.
For small-scale businesses, it becomes extremely important to their products online for the company’s growth, exposure, sales, and eventually, more net profit.
Amazon sales tracker is a tool that keeps a record of all the sales that the company makes. Yes, every business has accountants that are involved in the bookkeeping process; however, sales trackers are more than just a record. They have many more attributes to them that will be discussed in the next segment of this article. Also, there are some ways to find the best Amazon sales tracker online, which will be covered in this reading as well.
Benefits of Sales Tracker
A sales tracker keeps a record of the sales, analyzes the data, sees patterns, and even helps in the prediction of the cause of changes in sales. The data that is collected by a sales tracker is known as sales metrics.
The primary benefits of the sales tracker are as follows:
The data that is presented by sales trackers is authentic, which also means that they are based on reality and customer behaviors. Sales trackers enable a business to form the correct judgment related to the changes that need to be done. It creates an “if and then” relation. If the sales have moved forward with time, the strategies implemented are correct; however, if the sales have decreased over time, certain changes need to be done.
Betterment of Products-
The reasons why sales are affected (especially on Amazon) are primarily concerned with customers’ choices. Since everything is online, it is hard to say that a certain salesperson is at fault for the decline in sales. It is about the product that the customers don’t find worth buying anymore, or they probably have better substitutes. To get back on track, the product needs to regain its value in the eyes of customers by perhaps making a few changes in the product, or better marketing might even help.
A business flourishes when the resources are fully utilized and managed. A decreasing sales curve can indicate the wastage of resources. Now that the company knows the issue, it can work on efficient and effective sales and sales tactics.
There are other benefits of sales trackers as well, such as better customer service, enhanced resource allocation, tracking employees’ performance, analyzing previous patterns, and predicting the cause of sales changes.
How to Choose a Sales Tracker?
For 100% accurate results opting for a good Amazon sales tracker is of great importance. There are a few things everyone should look for in a sales tracker.
Convenient and Interactive Representation-
It can be very complicated and complex to understand sales data with boring digits and plain representation. A tool should offer virtual ease with tools like colorful graphs, dashboards, and configurable data charts. It is not only easy to understand better this way, but it also results in better understanding and fewer errors.
There are a lot of things that constitute sales metrics, including year-per-year growth, conversion rate, accounts lost to competitors, etc., and it becomes important to organise them differently in a neat matter to have better access to the results.
Total Profit and Loss-
A good sales tracker shows the total data with the trends. This means that with the trends, patterns, and predictions, the business is also getting access to the entire P & L statement without alteration.
Inventory and Expense Management-
The sales record, inventory records, and expense records can also be provided to the client by the service provided for better and more convenient inventory and expense management. This helps the business to look in more than one direction for introspection and maybe alteration.
There are free online Amazon sales trackers available. However, it is not recommended to use them for serious business practices. For quality services, buying a plan from a trusted service provider is the way to go. So far, the best Amazon sales tracker online is kwickMetrics. They offer excellent services at affordable rates.
Selecting a good service provider for Amazon sales tracking is as important as sales tracking itself. A business can grow much more when the issues are detected at an early stage, and the amendments are made within time. And this is by far the biggest advantage of sales trackers.