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Calculating a customer’s lifetime value on Amazon

To find out a customer’s lifetime value (CLV) at Amazon, you need to use the tools presented to you at Amazon seller central.

The tools in Amazon seller central allows the seller to look at the transaction history over a period of time. With this information, you can work out the behavioral patterns of a customer and extrapolate your profit margins over the customer’s lifespan. Ready to get started? Let’s look at the formulae:

CLV = Total order value x Average gross margin x Retention period

The retention period refers to the how many months or years you expect the customer to keep buying from your Amazon product catalogue and your amazon products list.

The one pitfall that you need to avoid is artificial CLV increases. For example, if the Amazon listing price of a product increases, the CLV value will increase but with every increase in price, your customer might buy less from your Amazon product catalogue.

Therefore, for the CLV to be really meaningful, you need more sophisticated tools that are capable of dynamically calculating the real CLV. Unfortunately, these tools are not provided in Amazon seller central.

The sophisticated tools that we speak of, are available with seller central consultants or the with the best Amazon consultants. The sophisticated tools they use, calculates customer lifetime value on a month-by-month and year-by-year basis.

The seller central consultants or best Amazon consultants can factor in changing costs models and revenues and compare the projected returns on investment of different investment possibilities to calculate present value. Based on the results, you as an Amazon seller can decide on whether to continue on the current business path or whether it needs to change.

When you do the calculation using the simple tools provided in Amazon vendor central, there is a lot of approximation which in turn results in a result that is not too reliable. It’s a kind of bottom-up approach to CLV that looks at order value, item purchased and when. With this you arrive at the profit from each customer. It’s a very simplistic approach and lacks the sophistication of specialized reporting tools that are used by Amazon consultants. Their tools use something called the ‘cohort analysis’ to break apart data sets into related groups that are then analyzed.

The sophisticated tools used by seller central consultants can even compare customers. For example, compare people who first converted in Q1 of say 2020 with people who first converted in Q1 of 2021 and how they compare in their respective first and second quarters. This adds much more certainty and therefore accuracy to the data that is being used to calculate the customer’s lifetime value.

[amazonlistingconsultant]

Amazon advertisement – what is it and how it benefits your product list

Visit the Amazon platform and you will notice that the top portion of the search results are typically occupied by advertisements. These advertisements are by Amazon vendors.

To run ads on the Amazon platform, you need to separately register for it. Amazon has several advertisement categories including sponsored products, sponsored brands, sponsored display and stores.

Irrespective of which category of advertisement you opt for, all will ultimately lead to a product page or product that you are selling and therein lies the benefit of Amazon advertisement.

Now, each Amazon vendor has access to Amazon vendor central and each seller has an Amazon product catalogue and an Amazon product list. Depending on how the advertisement is created, either the Amazon product catalogue or the Amazon product list or the individual Amazon product could be targeted.

Amazon advertisement is suited to all Amazon vendors who wish to boost the sales of the products they sell on Amazon. It is especially helpful to new Amazon vendors who, through Amazon advertisement, can attain instant product visibility.

Product visibility might be required for a variety of reasons e.g., you have a newly created Amazon product catalogue or the Amazon product list or have one or more new Amazon products that you would like to introduce.

Advertising on Amazon unfortunately, is not for the faint hearted. You need to be familiar with and the meaning of terms like attribution, DSPs, keywords, placement, targeting, bid, CPC, CPM, ACOS, band lift, CTPs, conversions, impressions, reach, ROAS, ROI and so forth.

How much is the right budget? This cannot be a figure you pull from the top of you head. It has to be calculated taking into account your budget and expected returns on investment (ROI) which itself is a calculated figure.

For all these reasons, it is definitely worth hiring an Amazon seller consultant. The Amazon seller consultant will figure out the best time to advertise. Know that the advertisement rates are dependent on several factors including type of product and when it is advertised i.e., peak / non-peak / seasonal.

Your Amazon seller consultant will figure out the expected sales of the products you want targeted and expected sales during peak times and non-peak times. From this he will work out the expected profit margins and arrive at the best budget and ROI from it.

Unless you have successfully done it before, the chances are that a non-professional approach to Amazon advertisement would be a hit-or-miss, stone-in-the-dark thing with chances of missing more than chances of hitting anything. Once the Amazon seller consultant presents you with a plan of action, you can take the call and decide to go ahead or not.

[amazonlistingconsultant]

Amazon Business Seller Program Reach Millions of Customers – Report

Like myself, if you are a seller on the Amazon platform, without doubt, you will have come across numerous occasions when you felt the need for a little help either in understanding Amazon seller policies or trying to figure out their online platform. Participation in the Amazon Business Seller Program gives you access to additional reporting fields in Seller Central, allowing you to identify business

Amazon Business Seller Program

Things like how to create your Amazon catalogue or the correct Amazon catalogue listing or figuring out how to create the Amazon custom listing without violating a dozen different Amazon rules, can be quite daunting.

I remember when I first tried to the FBA Listing Optimization I ended up completely ruining my Amazon product catalogue and had to redo everything again. As a seller, if you misunderstand a technical term, you could end up in serious trouble.

After making several mistakes receiving several warning notes from Amazon and wasting several dozen hours of my time, I finally decided to hire a vendor central consultant who was also an expert at listing amazon products.

Hiring a vendor central consultant paid off handsomely because they took care of everything. In fact, now-a-days, I only login once a week to check the revenue and it has been amazing. No more mistakes, no more warning notices from Amazon and best of all, great sales and even better reviews.

Whenever anyone searched for a product that I too was selling, it was frustrating to note that my product would feature somewhere on the 20th page or so. Now that I hired the vendor central consultant, my products are in the first 5 pages and every often are listed on the first page or second page. This has resulted in amazing sales.

While other sellers on Amazon continue to make mistakes and suffer the consequences, my listings are now always perfect and the sales have been amazing. Of course, hiring a consultant for amazon is not cheap but trust me, with the resultant increase in sales, the consultant charges will be a small fraction of your revenue and therefore, it is more than worth the price.

If you are still in doubt, do what I did; I asked a consultant for amazon to check out my account and point out 3 mistakes I made in my listing. I was pretty confident they would not find any mistakes. Guess what, they found 38 mistakes all of which contributed to poor sales. I decided to hire them for one month.

Towards the end of the first month, my sales register began to jump and it was 12% more than the previous month. So, I hired them for another month and once again my sales grew. As they say, the rest is history and today I am one of the top sellers in Amazon. You can be too.

[amazonlistingconsultant]

A Guide to Hiring the Best Amazon Consultant to Scale Your Business

When I started off as a seller on Amazon, I had to do everything myself – be it understanding and wading through Amazon terms and conditions to trying to figure out customer reaction to a price line or the way the Amazon product was listed. I had to even do the FBA Listing Optimization myself.

Today thankfully, there are Amazon consultancy services for everything from Amazon it support services to creating Amazon product categories list and even vendor central consultant. In fact, I no longer handle my Amazon seller account myself. Everything is taken care of by the best Amazon consultant and product listing services provider.

I no longer have to bother about competitor pricing, stock levels, returns and even reviews. Gone are the days when I used to get one negative review for every two positive reviews. A study I did made me realize that the negative reviews were because of wrong perception created in the minds of the customer. And this I realized, was happening due to bad product description and poor FBA Listing Optimization.

Whenever I checked the Amazon list of products, my products would either not be visible at all or, were listed on the 50th page onwards. The result was that sales suffered. Today, thanks to my Amazon listing consultant, not only have my Amazon sales quadrupled, my Amazon product descriptions have consistently resulted in good reviews leading to more sales.

I also no longer receive warning notes from Amazon about breach of some complicated terms of service. Not that I was willfully doing it mind, it’s just that some of the Amazon terms of service are difficult to understand.

Another advantage of having a product listing services provider or hiring an Amazon consultancy services is that they have in-depth knowledge of customer behavior. My Amazon list of products is accordingly tweaked to get the best possible customer response. No doubt consultancy services cost money but today, I am one of Amazon’s top sellers and the consultancy fees I pay, are only a small percentage of the revenue and therefore, worth the price.

No more errors in the Amazon product listing, no more bad Amazon product categories list or disadvantages Amazon product price. Having Amazon consultancy services insulated me from all the earlier problems.

So, if you are a seller like myself, from my personal experience, I can say that hiring an Amazon consultancy services provider is definitely worth the price and trust me, your sales will more than double.

[amazonlistingconsultant]

Apply These 5 Secret Techniques To Improve Amazon Sales

Until the day I hired the Best Amazon consultant, I was under the impression that my Amazon catalogue listing and my Amazon product listing were perfect. During the negotiations, the Amazon consultant pointed out to not one or two but 38 serious mistakes in my Amazon catalogue listing and my Amazon product listing. I realized that despite the powerful engine of quality products, my Amazon seller boat had not one but 38 holes in it through which, sales were seeping away.

I hired the best Amazon consultant and by end of the month, all the errors were rectified and my sales jumped proving that I was on the right path. One of the most common mistakes I was making was to copy-paste product descriptions and then change the product title and photos. Often, I would forget to change something and the product descriptions or the bulleted product features or photos were mismatched. Consequently, the mismatch between the product title and the descriptions or photos resulted in lack of sale for that particular product.

If some customer did buy the product, more often than not, it resulted in bad reviews. Confused prospective customers would often raise questions. Again, due to lack of time I failed to answer their questions. The questions were then either not answered or answered by previous buyers who urged the prospective customers to not buy my product (because the product did not match the description). So, a simple error on the seller’s part can lead to loss of sales. The more the products you have, the more the time required to ensure perfection. Amazon and its partners, the banks have lots of offers for the sellers to opt-in. Again, these require careful analysis on the part of the seller which means, you need time. If you have just 50 items for sale, your entire day goes in keeping track of them. If you have 100 or more items then you are lost. There is no way to ensure accuracy and quality of your Amazon catalogue listing and your Amazon product listing.

Further, how many sellers even know what is FBA Listing Optimization or how to create Amazon custom listing? Until I hired the Amazon consultant, I wasn’t even aware of several very good facilities that Amazon had. Of course, Amazon would from time to time send me emails but who had the time to read them? Failing to make use of these facilities further reduced my chances to increase sales. So, trust me, if you are selling more than 50 products on Amazon, go hire an Amazon consultant — you will find them well worth the price especially when your revenue increases by 150 or 200% The quality of the product reviews you receive will also change.