Discovering potential promotions can be challenging when using Seller Central. By comparing product profitability and conversion rate data, with traffic data, Quantify can help you to identify your biggest opportunities (and current winners) so you can then promote them!
Use the cost of goods sold to see find the winners...
First things first, you'll need to import your Cost of Goods Sold into the Quantify system before we're able to accurately calculate profitability. Here's a short guide on how to upload and import your current Costs of Goods Sold.
Hint - you can also set an aggregate percentage to automatically calculate costs of goods if your markup is identical across all products.
Prioritize the performers…
With Quantify you can combine metrics in your Financial Reports (like net profit margin, net sales, and net profit) with data you can find in the Quantify "Promote" report. This report shows you the products that have high conversion rates (greater than 25%) but those products which need more traffic. These are great opportunities for you! If you can find the products which convert and also net you the most profit, they are perfect contenders for promotional initiatives.
Sorting the Products table, or any other custom report you generate, will help you narrow in on the winners - and of course aid in identifying the losers too. Clicking on any of the header columns will engage the sort functionality based on that column's information.
In the example below, we have sorted by Avg. Net Profit Margin:
It's also a good idea to investigate Buybox % wins, as well as total Pageviews per product. To do this, you'll need to activate the column for those two metrics by clicking the dropdown under "Managed Columns":
Once you've added these new columns you can easily view and sort the data in the table as you need to:
Hint - you can also add the columns for Sessions, and Session Conversion, just as we've done for Buybox % and Pageviews.
…Lastly, promote your products!
Amazon has a huge number of advertising opportunities, but there are two main things you should be doing to get started.
- Here’s a great place to get started – or check out our Ignite product if you want to better automate campaigns you’re already planning.
- Send more traffic to your products and encourage conversion when a buyer gets to the product detail page (through search or ads).
For more information on the definitions and calculations found inside the app, check out our Quantify Glossary of Terms!