How to Leverage DataHawk Finance to Skyrocket Your Amazon BSR Performance
In this use case, we will show you how you can improve your listing’s Best Seller Rank (BSR) performance on Amazon by using our best-in-class Amazon Sales Rank Report, Amazon Financial Report, and Amazon Seller Dashboards.
PS: If you are exclusively on Vendor Central, this article won’t be useful to you, as we only support Seller Central for now.
But good news: you’ll be able to fully use our financial tool starting in Q3 2020.
Big news for Amazon businesses who find themselves short on cash flow; No capital? No problem! DataHawk and Payoneer Financing have come together to bring your business the funds it needs now to drive your sales. Check out this DataHawk x Payoneer Financing article to learn more.
Also, check out these related articles:
- How to win the Amazon Buy Box in 2020?
- How to Maintain and Improve Your Amazon Seller Feedback
- How to Build the Perfect Product Listing Page with DataHawk Why understand how to leverage best seller rank? Because having a competitive pricing strategy on Amazon is simply not the only tool you need in your toolbox.
- What is Amazon BSR and why does it matter?
- How do you calculate Amazon BSR ?
- What influences the position of the listing on Amazon BSR? How does it fluctuate?
- Introducing DataHawk Finance: Your stairway to the top Amazon BSR spots
- How do I get started increasing my Amazon BSR?
- Leverage DataHawk Finance to boost your Amazon BSR performance
- DataHawk Finance Tool for Amazon BSR Increase: Use Case
- Own your data : Export and Analyze your Finance Report
- Tips and tricks on improving Amazon Sales and BSR using DataHawk
What is Amazon BSR and why does it matter?
With 25 ranking factors set by the Amazon A9 Algorithm for your products to appear in the first spots on the search results pages, it is crucial to master the right techniques for you to improve your rankings and your organic sales.
As an established seller (or not) on Amazon, you must have come across the term “Amazon Sales Rank” or “Best Seller Rank”, or “BSR”. The latter is a metric calculated by Amazon, that enables you to know how well you are doing with regard to the items sold in your main category, in your product-specific category, and vs. your competitors. In case you missed it, here’s a great guide on Amazon Best Seller Rank.
On Amazon US, there are 41 product categories (not including Amazon Restricted Categories) for instance Amazon device category, Beauty, clothing and accessories category, and so on, and product categories with restrictions such as baby products category certified refurbished, Alcohol and more. Each product category on Amazon US consists of other sub-categories.
Your Amazon BSR’s principle category is a general one. For instance, if you are selling makeup and concealers, your Amazon BSR is “ Beauty & Personal Care”
This category contains an uncountable number of varying products that are most probably not even close to your specific niche. This means that the sub-category Amazon’s Best Seller Rank is undeniably the priority.
Amazon BSR not only elects where your product will list on amazon, but also decides upon your sales velocity: The higher your product ranks, the more organic traffic you catch on it, and eventually the more sales you make.
That is why, it is very important for sellers to get their product description and keywords right, because it is the base by which they could generate more sales, rank on the first page of the search results, and attain great outcomes on Amazon.
How do you calculate Amazon BSR ?
Historical data plays an important part in forecasting Amazon BSR. That is why, you should always be reminded that your forecasting and historical sales data are both parts of the anticipated sales rank, as you will most definitely be put in the puzzling situation where you and your competitor are selling the same products and making the same amount of sales volume, yet both have completely dissimilar Amazon BSR.
Basically, the major purpose of Amazon BSR is to benchmark products that are in the same category based on their sales velocity. With enough data, you have a good insight into how Amazon BSR works and how different factors influence Amazon product ranking.
Some of the criteria that Amazon bases its calculations on and that you as a seller should take into consideration so as to increase your Amazon BSR :
- Amazon SEO keywords
- Amazon Product Description
- Amazon Product Title
- Amazon Reviews
- Amazon Product Price
- Amazon Product Listing
- Bounce Rate
What influences the position of the listing on Amazon BSR? How does it fluctuate?
As stated previously, Amazon BSR impacts recent sales more than it does historical sales.
A product with low sales velocity is more likely to have a very low Amazon BSR compared to a product that has just witnessed a high increase in sales. On the contrary, a leading product on Amazon that didn’t do well in sales at a certain period of time will still maintain a good Amazon BSR, as its historical sales are sturdy and hence highly taken into consideration. So the longer your product has been listed on the Amazon marketplace, the more are the rocklike chances for its Amazon BSR to get impacted.
New product listings with no historical sales data are most likely to have a highly fluctuating Amazon BSR because of all the large variations in the latest sales. Also, there is a time gap between the moment a sale is done and the instant it is cast back on Amazon BSR, which is relatively 1 to 3 hours. This shows that sales do not have a prompt influence on your Amazon BSR and that it quite depends on the product’s reputation and history on Amazon.
As a seller on this marketplace, it is necessary for you to keep track of your ranking and document it in the long run, so as to get a precise idea of your average Amazon BSR, and our DataHawk Finance tool enables you to do just that.
Introducing DataHawk Finance: Your stairway to the top Amazon BSR spots
DataHawk Finance is a powerful Amazon seller reporting software for 3P sellers to instantly analyze performance in a simple and intuitive way. It enables you to get a clear and brief view of the daily sales of your product while providing you with perceptive data on BSR and organic search performance. This tool allows you to boost your productivity on the Amazon marketplace, by better understanding your performance and drawing out valuable insights on how your sales affect your BSR and other performance metrics.
How do I get started increasing my Amazon BSR?
For you to get sales reporting on DataHawk, you have to give the DataHawk app access to your Amazon Seller Central Account by connecting it to DataHawk.
Supported Marketplaces :
- North America : USA, Canada and Mexico
- Europe & India : France, UK, Italy, Spain, Germany and India
Eligibilities for the set up :
- Only the owner of the Seller Central Account has the right to manage the Apps section on Amazon Seller Central and connect it to DataHawk.
1- log in to your Seller Central account and click on the marketplace you want to connect to DataHawk.
2 – Click on Discover Apps from the Apps & Services menu on Amazon Seller Central
3 – Type DataHawk from the search bar then pick it from the results
4 – In DataHawk’s app page, click on Authorize Now on the right side of the screen
5 – This will take you to the Amazon Marketplace Web Service (Amazon MWS). Click on Next
– Developer’s Name : DataHawk Technologies
– North America Developer ID: 103954724499
– Europe & India Developer ID: 076808281569
6 – Click on Next to confirm the following form
7. Write down your seller ID and the MWS Auth Token somewhere, you will need to enter their value on DataHawk for the setup to be completed.
8. Add the Seller ID & DataHawk Technologies’ MWS Auth Token on DataHawk
Go back to DataHawk MWS Sales Manager to continue the set-up of the connection between DataHawk and your Seller Central account. Click on Connect a New MWS Account and paste your Seller ID as well as the MWS Auth Token in the corresponding fields.
Side Note: Your privacy is of the utmost importance to DataHawk and we commit to protect and not to share your personal data with unaffiliated third parties. User data is safely collected and stored in France where our infrastructure is hosted.
Once on the dashboard page of DataHawk Finance, you can view all the KPIs for sales and its performance history.
Leverage DataHawk Finance to boost your Amazon BSR performance
As a Seller Central merchant on Amazon, you should constantly keep track of your products’ daily sales data, and fully assimilate how they influence your keyword ranking and Amazon BSR, which can get quite tiresome at times. However, it is a very important step that you must undertake to effectively pilot your business. And, working on developing a strong data-driven mindset and culture is a way for you to reach the top Amazon BSR.
DataHawk Amazon Seller Reporting Tool provides you with different tools that enable you to better manage your sales in a way that would help you better correlate them with your Amazon Sales Rank.
DataHawk’s Finance dashboard enables you to monitor and analyze your sales performance on a given date and a marketplace of your choice. It also shows you all the different sales fluctuations on a daily, weekly or monthly basis, by displaying your sales growth and quantity growth at a sight.
This user-friendly dashboard also showcases the top 10 products with the highest contribution towards your overall sales on Amazon, a view of their sales and percentage of sales, as well as ASINs that you could click on to instantly be directed to their Amazon page. You also get to view a piechart of these products, that displays their sales distribution.
DataHawk Finance Tool for Amazon BSR Increase: Use Case
To better analyze your sales performance, monitor how they are impacting Amazon BSR and manage to identify products with low sales velocity, as a way to enhance and optimize their performance, keep reading..
1. Analyze Sales Performance with the Dashboard
To analyze your sales performance, you should go to your product listing on the left navigation bar and choose a specific product selling on Amazon that you have already started tracking.
In our case, we have tracked a product from the Grocery and Gourmet Food Category, from May 29, 2020, to June 29, 2020.
DataHawk’s sales tracker enables you to view your sales, orders and units sold performance history on a daily, weekly, and monthly basis, while comparing it to the previous month, week, or day.
For instance, in our study, we can see that this product is witnessing a 34% boost in sales, units sold and orders, compared to the previous day.
This increase can be the result of different factors, such as:
- Implementing the right changes to the product listing
- Opting for the strongest keywords by using DataHawk’s Amazon keyword tracking
- Keeping an eye on the main competitors and the strategies they pulled off on Amazon, so as to increase their Amazon BSR and eventually rank on top
2. Monitor how Sales Performance is impacting Amazon BSR
The most important thing that is considered for BSR is the number of sales, and the more recent they are, the better. Once those numbers are aggregated they are compared to other products in that category
In the table below, you can see how the increase in the sales rank growth for June 29, has increased Amazon sales rank for our selected product, from ranking 1570 in the previous day to an Amazon BSR position of 1031 in the following day.
Amazon BSR depicted the change in ranking due to the instant increase in sales volume, the product went from ranking 1570 on June 28, 2020, to positioning 1031 on June 29, 2020 on the search results.
Working on managing your sales volume and staying up to date with your competitors daily moves on Amazon are key for you to improve your BSR. For instance, if you sell an additional 10 units each day and your main competitor is doing as good as you, then you will not get any better with your ranking.
Allocating the right pricing is also an important factor to increase your Amazon BSR. Your product should always be priced competitively in order for it to appear above on the search results. Make sure to always keep an eye on your competitors, check their pricing strategies and do better, this will keep sales coming to you faster and furiously.
3. Identify products with low sales velocity to improve and optimize their performance
DataHawk Dashboard provides you with a list of all the products that you are selling on Amazon. With quick filters it is possible to get the least selling products.
In our case, we chose products listing for the same category on Amazon with low sales growth.
For this product, you can clearly see that the sales rank growth has slightly increased on the 29th of June when compared to the previous day, which has instlanty led to an increase in the Amazon BSR. However, this increase does not represent enough improvement on Amazon marketplace, nor means that your sales velocity is high, as the graph shows how the sales rank dropped suddenly on June 2nd, to slightly sell 4 more units on June 9, 2020 and then decrease to remain like that for the rest of the month.
On the contrary, We can clearly see that for this listed product, the 10% increase in the sales rank growth on June 28, 2020, has led to a higher Amazon BSR on June 29, 2020. The product went from positioning 150 on the previous day to a 135 Amazon BSR rank on the following day.
This seller might have implemented the right SEO strategies by for instance bidding for the strongest keywords that have optimized his organic performance and eventually increased his sales velocity.
The way he managed to avoid having his sales drop again is also the result of solid analysis, regular monitoring and competitor benchmarking.
As a seller on Amazon, looking to increase both your sales velocity and Amazon BSR, you should develop a constant ability to adapt and stay up-to-date, it is the sole base for you to reach an ideal sales velocity and Amazon BSR.
The sales history dashboard for this product displays a 96% drop in orders and a 97% decrease in sales and units sold for June 30,2020 compared to May 30,2020.
As it shows in the product listing table, there is a continuous decline in the sales rank growth that has led to an instant decrease in the Amazon BSR from a rank of 76 on that product category, to a 91 Amazon BSR for respectively June 28, 2020 and June 29, 2020.
Different factors have induced this plummet, whether they’d be internal or external, as you can visualize the constant Amazon BSR fluctuations in the sales growth graph. They could either be the result of high pricing, few or negative sellers feedback, bad product reviews which represent an important factor, as they are vital if you want to earn long-term customer trust and ameliorate your sales conversions.
Lack of product promotion or wrong product advertising is a reason your Amazon BSR is not doing that great. If you work on enhancing your content, including more high definition visuals and ads, making your product listing look better than those of your competitors, then your sales and Amazon BSR will definitely witness a spike.
DataHawk’s Amazon SEO is a very powerful tool that provides you with an Amazon Listing Tracker that helps you monitor product listing changes in any product on Amazon including those of your most solid competitors. You also get to receive daily alerts related to these changes.
Own your data : Export and Analyze your Finance Report
DataHawk enables you to export your sales reporting data instantly to excel and analyze everything you want on your preferred visualization tools.
You can elect to export product sales data, which will give you the entire list of all the tracked products from your preferred project, along with all the important KPIs that you can filter, and play around with on your favourite visualisation tool. It is a great way of analysing your data, especially if you are a seller with thousands of products. Here’s how a product sales export looks like.
If you are an Amazon agency dealing with a lot of brands, DataHawk facilitates you with its project exports that will enable you to organize brands into projects, and running a projects export will enable you to easily analyze sales data and see how each brand is performing, individually.
Leveraging the sales export will allow you to view the sales summary that includes tremendously important data related to your sales on Amazon. This information helps you track for instance the number of purchased orders, their ID, and ASIN on a daily basis, based on the number of times the order IDs are repeated on given dates.
The file also contains daily sales and their average selling price, as well as the percentage of sales growth and quantity growth of specific sold products.
As a seller on the Amazon marketplace, analyzing this advanced data DataHawk provides you is a great way for you to improve your overall sales performance on Amazon, increase your Amazon BSR and maintain constant growth, as it enables you to remain up to the minute with all the sales fluctuations and changes that occur on your Amazon Seller Central Account, which is a way for you to generate the right insights and work on developing them in your favor.
Tips and tricks on improving Amazon Sales and BSR using DataHawk
For you to step up your game on Amazon, generate more sales volume and do better than your competitors; Datahawk software facilitates the process, by keeping you au courant of the daily changes in your product rankings, including a sales history dashboard that displays your performance in sales and Amazon BSR.
– here are some of the few but important tips that you could use with DataHawk.
– Track relevant keywords for better product listing on Amazon.
– Enhance your Amazon keyword ranking
– Manage Amazon Alerts and monitor them in a way that would keep you up to date with the latest top sales rank, for instance, drop out of the top 10 sales rank, whether if a new seller is competing, changes in product listing ( any change in title, description, bullet points, media or A+ content) and so on.
– Optimize your listing on Amazon by building the perfect Amazon product listing page
– Leveraging DataHawk Ads Dashboard is also a way for you to not only optimize your ACos, improve your advertising campaigns, but also boost your sales volume.
Try our Amazon Analytics Software to Grow your Amazon eCommerce Business, Today!