Have you measured your success on Amazon? How does it feel when you receive an Amazon account suspension notification? Don't panic, you won't receive that notification if you focus on your Amazon KPIs.
If you need to sell your products successfully on Amazon, you need to be aware of your Amazon KPIs.
Well, we'll analyze the performance of other factors later, what about your product performance?
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Well, let's look at the important Amazon's Key Performance Indicators (KPI).
AMAZON PERFORMANCE METRICS YOU SHOULD MONITOR
1. ORDER DEFECT RATE
ODR is the number of people who have a negative experience with your orders.
An order is considered defective by Amazon if:
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An A-to-Z Guarantee claim is made
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A customer makes a chargeback
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A negative review is left (1 or 2 stars)
Amazon requires you to have an ODR of less than 1%. To achieve this, make sure you ship on time, deliver quality goods and ensure your packaging is great.
2. PRE-FULFILLMENT CANCELLATION RATE
Ensure you've products in stock, keep a close eye on your inventory and plan in advance. Think like your customer, if your customer intends to make a purchase and if it is out of stock, how it feels. You're not only losing sales but also losing a customer.
If a customer places an order and you then cancel that order because you don’t have the stock, that's what pre-fulfillment cancellation is.
You're responsible for the cancellation and it's not your customer's fault. It’s calculated by the no. of cancellations divided by the no. of orders in the same period and it needs to be below 2.5%.
3. LATE SHIPMENT RATE
Your customers will be excited not only while making a purchase but also while receiving the products.
There’s nothing worse from a customer’s point of view to receive an order past its expected delivery date.
Keep your late shipment rate below 4%. This metric is calculated every 7 to 30 days.
4. CONTACT RESPONSE TIME
Customers are the ultimate target for your Amazon business. Attracting customers, gaining attention, and making their purchase is essential, however, customer service is much more important than any.
Customer service not only handles the queries, but it also involves the response time, response tone on-time shipment, and handling returns, and refunds.
Amazon expects you to respond to messages within 24 hours. So make sure you pay attention to your customer's questions.
CONCLUSION
Amazon Performance Metrics KPIs help you make the right decisions at the right time and scale your business in the right direction.
Keep an eye on and monitor your performance metrics. Also, analyze and source your products with Amz Online Arbitrage.
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