We are down to the wire for achieving 2019 goals… how did you do? Did you hit your numbers? Did you achieve the things you wanted? While some goals are very tangible and measurable (hitting sales goals, achieving your desired ACOS, etc.), there are plenty of goals and achievements that you won’t find on a spreadsheet. Let’s talk about some of those metrics you might want to look at as you’re wrapping up the year?
Sales Numbers
As product sellers, sales are the number one metric used to measure success. If you met or surpassed sales goals, that’s reason enough to pop open the bubbly! Congrats! If you didn’t, take some time to reflect on where you fell short. Was there a certain quarter that was lacking, and caused a deficit the rest of the year? If so, how can you make that quarter more robust the coming year?
Engagement
Our clients who see the best results selling online (Amazon or elsewhere) are definitely striving to not only sell products, but they are looking to improve the lives of their customers with those products. They are genuinely concerned with who is buying their product, what they want from the brand, and meeting those needs. Take some time to reflect on how your customers interacted with you this year. Did you boost your social media numbers and offer free content that was valuable to your community? Think about how you can, in the coming year, provide more value to your customers, and really encourage your customers to become fans instead of seeing your product as a simple transaction. Afterall, engaged customers will be the ones that become repeat buyers and your first purchasers as you launch new products!
Customer Service
This is such a critical part of the success of any business, online or elsewhere and I want you to think about how you improved the customer service experience this year. Did you respond to questions being asked or address critical reviews? How quickly and efficiently did you resolve issues for unhappy customers? Even if you really excelled in this area, there’s always room for improvement. Think about how you’d like to be treated if you were the customer and make changes accordingly.
At TurnKey, we are all about helping new sellers get started on Amazon the right way and showing established sellers how to make improvements to their listing, systems, and management, and to set new goals for crushing it in 2020. We’d love to help you if you’re feeling stuck, so head over here to find out EXACTLY how we can help.
Watch Jenna Lieber, our Director of Client Services discusses the New Voice of the Customer feature on this week’s Facebook Live
Amazon’s new feature lets you hear what your customers are saying about your brand!
As Amazon sellers, we are always looking to get in touch with our Amazon customers. With the Voice of the Customer feature, Amazon has made that a lot easier!
The Voice of Customer dashboard is located under the Performance Tab in Seller Central.
Using this dashboard you will be able to :
Review the Customer Experience (CX) Health of your offers
Read customer comments
Identify product and listing issues
Act to resolve problems.
The CX Health metric will show you how your offer stacks up to those that are offering a similar product and offer. This is metric is measured by your recent orders as well as customer feedback regarding your products. They will also take your negatives experiences and compare them to other brands offering the same or similar offer.
Your CX Health is measured as excellent, good, fair, poor, or very poor.
Here is a breakdown about what that means:
Excellent (green): Your offer is performing significantly better than similar offers.
Good (light green): Your offer is performing as well as or better than similar offers.
Fair (yellow): Your offer is performing comparably to similar offers.
Poor (orange): Your offer is performing worse than similar offers and may be at risk of closure because of negative customer experiences.
Very poor (red): Your offer is performing significantly worse than similar offers and may already have been closed because of a high rate of negative customer experiences.
Knowing your CX health can help you identify different problems like mislabeled, damaged, or defective products and inaccurate or incomplete detail pages.
Within the dashboard, you will be able to see if a listing is suppressed and resolve the issue. You will also be able to remove damaged products from Amazon’s FBA inventory.
Our team suggests using this dashboard to optimize and adjust your listings and products. You, as a seller, have so much to learn from customers so take advantage of this opportunity now!
Watch Jenna Lieber, our Director of Client Services discusses the New-to-Brand Metrics on this week’s Facebook Live
Have you been checking your New to Brand Percentage?
Within Amazon’s PPC Dashboard choice sellers have gotten the opportunity to learn about their New-to-Brand (NTB) percentage.
The NTB percentage is determined by whether an ad-attributed purchase was made by an existing customer or one buying a brand’s product on Amazon for the first time within the past year. In other words, if a customer has not purchased from you in the last 365 days they are considered NTB.
This is useful to help sellers determine their true Cost Per Acquisition (CPA). By determining your true CPA you are able to optimize your Amazon PPC with higher accuracy based on your margins.
You can find your NTB percentage in your PPC Dashboard located next to ACOS. It is defined in the table as “% of Sales NTB”. It is important to note that NTB is only measured on Sponsored Brand Ads and you can only track it from November 2018 to present.
With NTB you now have insights into how loyal your customers are on Amazon and using this information you are able to create a plan on how you can improve this metric!
