The increase in traffic and sales that come with Amazon’s Prime Day are generally always going to be positive at first glance. But it is only through analyzing the metrics on your business in the weeks leading up to Prime Day and the weeks after that that you can really measure your success and make adjustments in the areas that need them. Here are six seller metrics that you should track around your Prime Day promotions.
1. Average Unit Retail (AUR)
The Average Unit Retail (AUR) on a product is calculated by dividing your total revenue in dollars (net sales on the product) by the total number of units sold. For example, if you have earned a total revenue of $2000 across 50 units, the AUR on this product would be $2000 divided by 50 units = $40. An AUR that is too high can lead to a lower number of sales as your competitors may have an edge over you in pricing. An AUR that is too low, on the other hand, could point to room for additional profit if the price were raised.
An efficient Profits and Accounting tool can help you to keep track of all of the hours in your inventory. Optimized pricing is important all year long, but it is especially important during high-traffic, high-competition events like Prime Day.
2. Order Defect Rate (ODR)
Your Order Defect Rate (ODR) is the metric that keeps track of your customer service. Amazon considers an order defective if any of the following occur:
- An A-to-Z Guarantee claim is made
- A customer makes a chargeback
- A negative review is left (1 or 2 stars)
Amazon requires its sellers to maintain an ODR of less than 1% at all times to keep their accounts in good standing. Sometimes negative feedback or product defects are unavoidable, but keeping a strong focus on excellent customer service should ensure that the number of satisfied customers you have heavily outweighs those that are unsatisfied.
3. ACoS and TACoS
More advanced metrics like ACoS, TACoS, and ROAS may seem intimidating at first glance, but once you understand what they are, they can be valuable metrics to include in your business analysis strategies.
4. Conversion Rates
Unit session percentage rates are more commonly referred to as conversion rates on Amazon. Conversion rates are solved by dividing the total number of ordered items by the number of viewer sessions on your product page. More simply, this metric shows you what percentage of people who are visiting your product page actually end up buying your product.
5. Product Rankings
Your product rankings can be found in your Amazon Seller Performance Metrics. These rankings are determined by how many sales you have made and the number of product reviews that these sales have generated. These product rankings are updated every hour and have a direct effect on your product’s organic search rankings.
6. Buyer-Seller Contact Response Time (CRT)
To keep your Amazon seller account in good standing, it is important to respond to all messages you receive from buyers within 24 hours. This is a good rule of thumb to follow at all times, but it’s especially important when millions of additional people are buying on Amazon and expecting exceptional products and customer service. Your Contact Response Time (CRT) lets you know how long on average it takes you to respond to messages that your Amazon store receives.
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