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Selling on Amazon is one hell of a task, especially when you have so much to manage. Tracking your inventory, profits and costs on Amazon are pretty time-consuming. Sellers need a centralized tool to manage all these aspects from a single platform. Thankfully, SellerBoard is there for such sellers. This centralized tool measures real-time profit and performance data. So, if you are an existing seller, Amazon Sellerboard can be a blessing in disguise for you. Want to know how? Here is everything you need to know.
What is Sellerboard?
Launched in 2017, SellerBoard is a fast-rising profit analytics software for Amazon Sellers. It has automated accounting tools that analyze products’ real-time profit and performance data. It measures the cost-effectiveness of a business on Amazon. To do this, it analyzes various metrics, like:
- Order Quantity
- Products Costs
- Fixed Expenses (supplies, listing expenses, etc.)
- PPC cost
- Amazon Fees (FBA fees, Shipping Charges, Amazon Commission, etc.)
Using all these metrics, SellerBoard calculates the profit margins, ROI, Gross Profit, Net Profit, etc.
Over time, you can analyze this data to observe which products are profitable for you and which are not. Apart from accounting tools, it has other tools to increase sales & profit. We will talk about these additional tools and features later in this article.
Three Ways Sellerboard Helps Amazon Sellers
1) Know Your Numbers
Sellerboard helps you understand your numbers by analyzing various metrics. One such powerful feature of Sellerboard is its profit analytics dashboard. Using this dashboard, you can calculate the total profit, ROI and other metrics for all your Amazon products.
Sellerboard automatically syncs your Amazon account data to track real-time profitability. You can take a glance at your Selleboard dashboard to analyze how your Amazon FBA account is performing. You just have to enter the cost of goods and your fixed expenses in the tool, and it will calculate the rest for you. The tool provides you with all the crucial information about your products, including:
- Refunds and Reimbursements
- PPC and Advertising Charges
- Amazon Fees
- Number of orders
- Profit Margins
The tool offers you 12 months of data to analyze which products are performing well over time.
As Sellerboard syncs your Amazon inventory, it automatically notifies you about restocking. This is a helpful feature for Wholesale and RA sellers who need a lead time for ordering stock. It also estimates the number of days your stock remains in Amazon Warehouse.
This way, you get alerts for your out of stock items. You can also enter your products’ costs to estimate ROI. This will help you analyze which product is worth reordering. Once you get notified, you can order more inventory and send it to the Amazon Fulfillment center.
In SellerBoard’s “Expenses” tab, you can view and add all your Amazon expenses. There are various criteria to add your business expenses in the tab. Like you add your fixed monthly expenses, one-time expenses, etc.
Even if you have a specific expense related to a particular product, you can assign it to that particular ASIN. Based on all these expenses, Sellerboard generates your net profit. You can use these reports to plan your product ordering.
2) Contact Your Customers
There is an Autoresponder feature in Sellerboard that simplifies your buyer messaging. Using this feature, you can generate automated messages for your customers. These messages are based on their past purchase behavior to trigger certain events.
You can also create multiple email campaigns for different products or scenarios. For customer reviews on recent purchases, you can automate an email about their sale. You can customize the templates to offer new product suggestions, offers and tips.
Using this tool, you can automate messages for different events. You can notify your customers about new launches or early arrivals of their shipments.
3) Get Your Money Back
Sometimes your goods get lost or damaged at Amazon FullFillment Center. You can use Sellerboard’s “Money Back” feature for reimbursement opportunities in such scenarios. Amazon has 30 days to locate and put it back in sellable items in case of missing items. If the item doesn’t find it within 30 days, Amazon reimburses the amount as per its policy.
Applying for Amazon reimbursements manually is a tedious process. First, you have to analyze the sheets and then submit the cases to Amazon. But with this Automated Money back feature, you can do it hassle-free in no time. Amazon offers reimbursement opportunities for missing or damaged FBA items. This tool notifies you about such reimbursement opportunities.
Features and Tools of SellerBoard
1) Inventory Manager
As we mentioned earlier, you can automate inventory management and tracking using Sellerboard. The tool syncs Amazon inventory and sends notification alerts about restocking. It informs which items are about to go out of stock so you can order them timely. It also calculates the ROI of products to tell which ones are worth reordering.
2) PPC Advertising Optimizer
The most tedious task of Amazon Selling is estimating your PPC campaigns’ effectiveness. But, it is crucial at the same time to understand which PPC campaigns are working for you. Using the PPC Advertising Optimizer tool, you can track the performance of your PPC campaigns.
It provides a break-even analysis of each PPC and keyword success rate. You can decide which keywords are worth bidding for by analyzing this data. This way, you don’t have to waste your money on ineffective PPC campaigns. Using this tool, you can plan your PPC campaign strategy smartly in your budget.
3) Products Listing Alerts
Products Listing Alerts help you know the real-time changes in your listings. Whenever any changes occur in your Product Listings, Sellerboard sends live updates. These changes can be:
- Loss of Parent ASIN
- ASIN hijack or New sellers on ASIN
- Change in Product Dimensions
- Seller Review Notification
- Loss of Buy Box
- Change in Referral Fee
- Other Fee Changes
- Main Image Change
- Closing of any product listing
4) Export Tool
Sellerboard also lets you export the data generated by the software. You can export this data in CSV format and then edit it in excel sheets. It is a valuable feature to send or share your data with teammates or other people.
5) Customized Charts
On the Sellerboard dashboard, you can access KPI charts to see the performance of your product. KPI stands for Key Performance Indicator. You can customize these KPI charts using various criteria, like:
- Product Units
- Product Cost and Other Fees
- Product Type
- Market Type
These KPI charts data can be customized for various time periods, like:
- Last Week Data
- Previous Month by Day
- Last Year by Month
There is a trends feature tab in Sellerboard. Using this tab, you can sort which SKUs perform better and worse for various trends. This helps you to keep track of positive trending KPIs. Some of these trends are:
- Profit Margins
- Sales on Different Marketplaces
- Refunds and Returns
- Products Cost
6) View Gains and Losses
Using these custom KPI charts, you can estimate various goods’ total profit and loss. All the parameters covered under these charts help you calculate accurate profits. You can filter this data by months or days along with the product type.
7) Cashflow Tool
One of the crucial money management tools Selleboard offers is Cashflow. This tool estimates the future cash you have for making financial decisions. You can add various metrics in this tool to estimate the amount of future money left in your account. You can do this by clicking on the “Add button” and inputting various values in it, like:
- Purchase of Goods
- Cash in Hand
8) Amazon Fees Calculator
It is a crucial tool for sellers as it breakdowns all the fee structure Amazon charges from you. There is no hidden cost, and you get the exact idea of the money spent on the platform. The Amazon fees displayed on this calculator include:
- FBA storage fees
- Shipping charges
- Per unit fulfillment fees of FBA
- Subscription Fees
- Reverse Reimbursements
- FBS disposal fees
9) Users and Rights Manager
The tool also allows you to assign various rights and roles to the users managing your account. This way, each member will have their login information to access the dashboard and other tools. Every role comes with certain rights. These roles can be:
- Marketing Manager
For every job title, there are different accessibility options. For example, Investors can have access in read-only format. But for the employee or marketing manager, inventory management access is also there.
10) BSR Monitor
There is also a BSR monitor tool that keeps track of:
- A product’s real-time BSR
- The percent of Changes in Current BSR as compared to the average BSR of the last week
- The percent of Changes in one-week BSR average to that of monthly average
Sellerboard offers a free trial plan to test the features before opting for its paid plans. All the paid plans come with a money-back guarantee. There are four paid plans, i.e.:
- Standard Plan: It is an entry-level plan, starting with $15/month for 3,000 orders.
- Professional Plan: Starting at $23/month, this plan is for 6,000 orders.
- Business Plan: You can manage up to 15,000 orders for $31/month in this plan.
- Enterprise Plan: Starting at $63/month, this plan is for 50,000 orders.
Final Thoughts- Should You Get a SellerBoard?
Sellerboard is an affordable and impressive Amazon Profit Analytics software for Amazon sellers. This tool is ideal for those operating on a limited budget. They can easily use this tool to track their profit margins, expenses, and ROI of Amazon business. The tool has impressive features to design your financial strategies and track products’ performance.
Its Profit-Cost Analytics abilities are excellent and on-point. The user interface is simple and easy to understand. The best thing about this tool is that it automatically syncs all your Amazon products data. This way, it offers real-time profit and cost tracking. Also, its additional tools and features help you invest in the right products to grow your sales.
With all these features and capabilities, Amazon Sellerboard is a tool worth trying. So, give it a try and don’t forget to share your experience with us in the comments section.