5 Free Amazon Seller Tools You Should Know About
Most likely the first thing you learned about selling on Amazon are all of the fees you’d be paying as a Professional Seller. There’s the monthly plan, FBA fulfillment charges, Amazon’s referral fee and inventory fees to name a few). But do you know about the free Amazon Seller Tools that are extremely helpful in growing your business? We cover 5 of them in case they are new to you. We highly recommend becoming familiar these free Amazon Seller Tools since they are super convenient and geared specifically for you, a third party Seller.
# 1: The Profitability Calculator
Every Seller needs to know how much their net profit will be on any product they are planning to sell. Whether you are an FBA or FBM Seller (or both), this handy calculator is so easy to use. What’s surprisingly NOT easy about it is actually finding the calculator via your dashboard search! It’s the oddest thing. In any case, once you use this link, save it to eliminate your hunting for it time.
Here’s a quick overview:
Once you’ve clicked on the above link, you’ll see this displayed…
Notice in the right hand corner, you have the option to select whether you want fees calculated based on the market you’re selling in: U.S., Canada, or Mexico.
Next, the full page will be blocked until you select a product that matches the one you plan to sell. This is important so that the appropriate category fees will be applied in these calculations. Let’s us a cutting board for this example. Type that in and this will show up:
Select whichever one is most similar to your product.
That unveils the entire worksheet…
You can fill in the numbers for both Your Fulfillment (FBM) and Amazon’s (FBA). Familiarize yourself with each line item that you will fill in so that you already have numbers predetermined. For example, know what your true actual Cost of Product is so that the calculations will be as accurate as possible.
Helpful hint: When it comes to estimating your Ship to Amazon cost, use $1. If you’re shipping large quantities (containers), this could be lower than .50 cents per item. If you’re shipping a UPS box full, then use $1. It may be slightly more or less once you know your real cost, but this is a good starting point.
Here’s the link in long form, in case you need to save it: https://sellercentral.amazon.com/hz/fba/profitabilitycalculator/index?lang=en_US
# 2: Multi-Channel Fulfillment
Multi-Channel Fulfillment (MCF) is a program within Amazon FBA. With MCF, Amazon utilizes your items already in their fulfillment centers. When items sell on Amazon.com, your company website store, or on another e-commerce site such as Ebay; Amazon picks, packs and ships them to your customers on your behalf. Instantly your company has a fulfillment department.
Amazon’s reputation for inventory management and order fulfillment is renowned worldwide. If you have a professional selling account, you can even list your MCF inventory without selling anything on Amazon by entering a Start selling date that is far in the future when you create your product listing. But let’s face it, if you’re reading this article, you’re also taking advantage of selling on Amazon so that last tidbit is more of an FYI.
With MCF scaling your business and offering customers one- and two-day delivery options in addition to standard three-to-five day delivery is instantly easier. Also, you can choose to have returns sent back to you or back to Amazon fulfillment centers and returned to your inventory. You can request to have all of your inventory returned to you at any time using the Removal Order option.
You have free access to this MCF service after you’ve enabled it on your dashboard.
Select Fulfillment by Amazon under the Settings tab on your Seller account dashboard:
Next, scroll down the page until you get to the Multi-Channel Fulfillment section and click on the edit button:
Here is where you can fill in your company/merchant name and the text that you would like printed on your packing slip. This is the one time Amazon allows your company website address, telephone number and contact information that’s outside of the Amazon platform.
Be sure to read how MCF orders are processed to understand how to fulfill incoming orders.
#3: Selling Coach ~ Product Recommendations
This is yet another cool free Amazon Seller tool. Whether you’re just getting started and have no products or it’s time to expand your product offerings, Amazon will suggest items you may want to sell. This can be great inspiration to do some deeper research for private label Sellers. You can personalize their recommendations based on buyer interest, number of competing offers, your current inventory and other factors.
The awesome part is, it’s front and center on the homepage of your dashboard in the Selling Coach widget so you don’t have to go looking for it…
Select the Growth tab on the left. If you have brand names in mind, you can fill that info into the top box. Otherwise, leave that empty. Then choose whatever category you are interested in. Select the Save Preferences button.
Here’s a little known goody: Go to the Reports tab → select Amazon Selling Coach in the drop down menu → click the Products option on the left side and watch for the Wish List products (these are items shoppers intend to buy) and the Items with High Customer Interest (for, well, the obvious reason).
#4: The Seller App
Just in case you haven’t heard about this highly functional free Amazon Seller tool, the Seller app is a must-have for the merchants with a smartphone and who is frequently away from the computer. Not to be confused with your Amazon Prime app (which is for shopping), the Amazon Seller app is available on iOS and Android and the app icon looks like this:
You can view and do all of the important tasks necessary for your day-to-day operations. This app lets you:
~ View your sales. See your business performance for today, this week, or this month.
~ Manage your inventory. Easily update your prices and quantities.
~ Manage your orders. Get notified when your product sells. View your pending orders and confirm shipments.
~ Create listings. Heads up, while you can create a listing, you’ll want to use a computer to truly optimize your listing. Thumb typing will simply take forever!
~ View your next payment. See your next disbursement amount and the date.
~ Provide great customer service. Respond to customer questions quickly with basic, customized email templates, or simply mark messages as “no response needed”.
~ Find new products to sell. Check current prices, sales rank, competing offers, and customer reviews by using text search or by using your smart device camera for scanning. That’s ideal for arbitragers mostly. However, private label Sellers can scan a product when brainstorming for new items to list.
~ Receive new pricing opportunities. Stay competitive on the go when listings are close to the buy-box price, have low sales conversion, or are eligible for a fee promotion.
~ Contact Seller Support.
#5: Automated Pricing
The final time-saving free Amazon Seller Tool is the one that enables you to automate any price changes that may be a part of your selling strategy. Although this tool was probably designed for multiple Sellers on a product listing; it can still be very useful when you’re competing against similar products.
It’s important to create pricing rules for each sku that you’d like to set up on automated pricing. Do that by selecting Automate Pricing in the drop down menu of the Pricing tab on your Seller dashboard. Read through the info and watch the short video. Then selected the Get Started button which will ask you to set up the rules for your pricing changes.
Next, in this truncated screenshot, from your Manage Inventory page, you can set your expand your Preferences by checking these two boxes: Your Minimum Price and Your Maximum Price so they will be displayed on your inventory dashboard.
Once you click Save, this automatically actives this repricing tool. Before you start tossing minimums and maximums into your parameters, be sure to review your net margins for each sku. Think about what minimum net profit you’d be comfortable with and what would your maximum price be so that it’s not more than $1 higher than your competitor’s.
This is definitely not a set and forget it tool. You still want to monitor the activity and what price points are generating the most sales. Don’t assume the lowest price wins the sale every time. If you’re product has a premium appearance because your product images are professional and your content is optimized; Prime shoppers will be more willing to pay a higher price.
Enjoy the Freebies
You know how customer-obsessed Amazon is, so when they come up with free tools to help third party Sellers on their platform; you know it’s something practical and valuable. Take advantage of these free Amazon Seller Tools if you haven’t already by simply adding them to your current processes or future expansions.
Coupon Marketing Agreement
(“Agreement”) by and between iLoveToReview.com, LLC dba MarketHustl.com, a Nevada limited liability company, (the “Company”) and the undersigned client (the “Client”), effective as of the date set forth above (the “Effective Date”) and covers all promotional campaigns for MarketHustl.
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- The term “Coupon Codes” means Amazon.com coupon or promotion codes provided by Client for distribution by the Company. All Coupon Codes provided by Client to the Company shall reflect a Significant discount on the price of the product(s) described above (the “Product(s)”), but need not discount Clients’ ordinary shipping and handling costs.
- Client understands a Campaign Date will not be set until Company receives Coupon Codes for distribution as set forth below.
- The term “Redemption Target” means the numbers of people who use the Coupon Codes to claim a Product(s) from the Client’s Amazon account. Client agrees to provide Company with an accurate report showing such redemptions within three (3) business days of Company requesting it.
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- Campaign Fees: Client shall pay the Company the Single Promo or Standard, Basic, Business or Corporate subscription fees which are due immediately upon execution of this Agreement. The Company shall have no obligation to distribute any Coupon Codes until payment in full is received.
- Campaigns: Campaigns are defined as a coupon code promotion for a single ASIN. Single Promotions are limited to a 1 time promotion for up to 200 coupons. All subscriptions can run unlimited promotions per ASIN per month with no coupon limits.
- Client shall be responsible for timely fulfilling all orders for the Product(s) utilizing the Coupon Codes, consistent with its ordinary fulfillment policies, at its own cost. The Company will not pay for any part of the costs or retail price of the Products, and will not provide shipping, logistics, or fulfillment services. Client shall not charge shipping and handling greater than it charges paying customers for like goods.
- The Company shall not be liable for any damage or loss caused by use of the Coupon Codes, including, but not limited to, redemption by persons other than its subscribers, publication of the Coupon Codes, or redemptions of the Coupon Codes in excess of the Redemption Target. If Client believes that the Coupon Codes are being misused it is Client’s responsibility to deactivate the Coupon Codes.
- Upon the Company’s request, Client shall provide to the Company the complete fulfillment report from the time of the campaign.
- Client shall ensure that on the day of the promotion that the product price will be at a price that the Coupon Codes will reduce the item to the agreed upon amount as indicated on the cover of this Agreement. Client further promises that they shall not change the price of the item on Amazon for 5 days after the promotion launch date to ensure that the Coupon Codes will discount the product as promised for 5 days after the promotion date.
- The Term of this agreement shall be for 30 Days from the day the Coupons are first distributed by the Company for all campaigns and automatically renewed each month upon monthly subscription payment.
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