When’s the last time you focused on your product inventory, not just your product listings? If you’re ignoring your products in the real world, you’re hamstringing your overall ROI potential on Amazon. The actual amount of inventory you have on hand can greatly affect your performance in a myriad of ways. To help you understand all of your Amazon options, let’s look at why inventory matters as much as your listings.
Why Do Sellers Ignore Inventory?
We understand. Your product listings are the most important part of your Amazon selling journey. By dialing in on your keywords, descriptions, ads, and features, you can carve your space in your category. An optimized listing conveys your benefits, keeps out your competition, attracts new and returning customers, and convinces them to convert.
Listing optimization is time-consuming because it has so many variables to tweak for sizeable improvements on your performance. Your listings are critical for success and it’s easy to get lost in the minutia when strategizing, experimenting, and testing. There is no wonder brands can forget to track their inventory.
Why is Inventory So Important?
Consider this: your listing is your promise to your customer. It is what you tell them to convince them to look into and decide to try your product. The inventory you have is the fulfillment of those promises. If you’re neglecting what you have in stock, you’re actually neglecting your customers. Yet, this can go even deeper, affecting your bottom line.
Ignoring Inventory is Costing You Money
You can miss out on sales if you’re not paying attention to your inventory. While you’re fine-tuning your listings and ads to bring in more customers, your stock is dwindling. While you’ve achieved increased traffic, they have nothing to buy, and you’ve left sales on the table. Instead of pleasing customers and fostering a strong relationship, they’ve had a negative first experience with you, which may reflect poorly in the future.
Excess Inventory is Just as Bad
While it may be frustrating to hear, having too many products in storage can negatively affect your profits. While a limited stock loses potential sales, too many items can accumulate storage fees. After all, if your product isn’t moving, you’re just paying someone else to hold onto it for you.
Amazon Favors Items in Storage
Are you using Amazon to store your products? If not, you can boost your brand with Fulfillment by Amazon (FBA). FBA is a great for sellers who don’t want to manage, store, and ship products independently. Instead, send stock to Amazon who will take care of the processes for a fee. As an added bonus, Amazon will naturally boost your products because of their FBA status. Amazon tends to favor adding these products to the buy-box, greatly improving the likelihood of completed purchases.
Whether you’re looking to maximize the results of your inventory, optimizes your listings, or get more out of your reporting, AI can help. At Teikametrics, we have the industry-leading software that helps $1 million brands grow their businesses. Experience the difference with a free demo webinar.
