.png?width=50&height=50&name=feedbackfive-menu-icon(orange).png "feedbackfive-menu-icon(orange)"){kind=icon}
Originally published on November 2, 2021, updated July 17, 2023
Menu
Join Our Email List
- Receive our monthly newsletter.
- Stay up to date on Amazon policies.
- Get tips to grow your business.
/%5BeComEngine%5DLogo-2019-linear.svg "eComEngine Logo")
Ready to grow your Amazon business? Great! But where should you even begin? What should you do? And what difference will it make?
Sellers ask themselves these questions — and many, many more — every single day, and the answers aren’t always clear. Uncovering viable growth opportunities is a challenging task even for the more experienced merchants. You don’t want to waste your precious time and resources on things that won’t pay off. But what if you had a way to peek behind the curtain and see what the benefits might be? Would that make it more worth your while?
A recently released Amazon tool aims to do just that by providing personalized recommendations for your ASINs to help you grow in a way that makes the most sense for your business.
Keep reading to learn more about the Amazon Growth Opportunities tool — what it does, where to find it, and how you can start taking advantage of it today.
The Amazon Growth Opportunities tool is a new feature in Seller Central that gathers recommendations from several Amazon programs and gives you actionable insights on how to grow and improve your ASINs all from a single page.
Key performance metrics are shown alongside each growth opportunity so you can identify trends and decide where to focus your efforts. In addition to this data, you’ll also see the potential sales lift that Amazon says you may achieve if you take that suggested action. This will certainly impact how you prioritize your tasks, too!
The Growth Opportunities tool highlights your most important ASINs for growth in two distinct ways: those with high value, and those with high potential.
The High Value (HV) badge is given to products that already significantly contribute to your business and are in the top 10% of ASINs in your catalog based on sales or viewing sessions. Keeping these ASINs performing well will be instrumental to your growth.
On the other hand, ASINs with a High Potential (HP) badge are ones that aren’t yet significantly contributing to your business but have a high probability of doing so in the future if you were to optimize them for growth. Amazon applies this badge to ASINs in your catalog that are in the top 20th percentile of this estimated potential, which is determined using one of the marketplace’s many machine learning algorithms.
There are several growth opportunities that Amazon may suggest for your business with the end goals of improving your product catalog health and readiness in addition to increasing traffic, conversion, sales rank, and sales. The recommendations are heavily centered on utilizing new and existing programs to help customers find and purchase your products on the marketplace.
Amazon curates your growth opportunities based on its assessment of the sales potential of your products and the sales lift other sellers experienced after taking the recommended action on similar items.
Recommendations are displayed in descending value based on the potential lift they may provide. At the time of launch, the program offers the following growth opportunities:
Many of these recommendations have a trickle-down effect. For example, Creating A+ Content can help improve sales by increasing conversion and lowering your return rate, which is a key factor for several brand health metrics. Note that some of the recommendations above are only available to brands, so you’ll want to be enrolled in the Amazon Brand Registry.
Your list of recommendations will be refreshed daily, and Amazon says it will continue to add more growth opportunity types in the future.
You should also note that since Amazon only displays the highest priority recommendations for this program, some of your products may not be included. If you don’t see a recommendation for a particular ASIN, consider enrolling it in any applicable Amazon program to fuel its growth.
As we mentioned above, the Growth Opportunities tool tracks multiple performance metrics for each ASIN that the tool has identified. Let’s dig into these a bit more:
Daily Sessions: The average daily viewing sessions for a product in the last 30 days.
ASIN Conversion Rate: The average percentage of sessions where customers viewed the product and went on to purchase from you in the last 30 days.
Category Conversion Rate: The average percentage of sessions in which customers viewed an ASIN across all sellers in the same category and went on to make a purchase in the past 30 days.
Sales Rank: The average best seller rank for a product over the last 30 days.
Inventory Count: The current real-time inventory count for all SKUs offered on the ASIN.
When applicable, arrow and percentage icons illustrate how these performance metrics are trending compared to the previous 30-day period.
Outside of these metrics, the tool also displays a few modeled estimates for each ASIN to further justify the course of the recommended action. These two will definitely get your attention:
Potential Sales Lift: An estimation of the incremental sales you could have gained over 90 days if you had taken the recommended action on this product 90 days ago.
Net Proceeds Gain: The amount you would have gained in net proceeds over 90 days if you had taken the recommended action 90 days ago.
In some cases, these estimates may be unavailable due to Amazon not having enough data.
You can access the Amazon Growth Opportunities tool by going straight to the dedicated program page or by selecting Growth Opportunities from the Growth menu in Seller Central.
Here are some of the other actions you can take on the page:
Amazon has produced many selling programs to facilitate growth over the years, and this tool makes it easier to visualize their impact on your ASINs and how you can get there. Its holistic view will be very helpful, especially if you have a large product line.
Now that you’ve seen what Amazon’s Growth Opportunities feature can do for you, will you give it a try? It will definitely be interesting to see how this tool develops and if its recommendations are on the mark!
That being said, don’t forget that one of the best things you can do to grow your Amazon business is to get more seller feedback and product reviews. These are the foundation for any Amazon store — if you don’t continue to grow your ratings, your overall business growth will be stalled and you may never reach your full potential.
FeedbackFive helps sellers automate feedback and review requests in 17 Amazon marketplaces so you can jumpstart new ratings and continue to build them as your business grows. Whether you choose to create a custom request or simply send Amazon’s Request a Review message, FeedbackFive helps you save time and gives you exclusive access to key analytics for structuring more efficient campaigns.
Plus, you’ll also be able to receive alerts for negative ratings and identify important review trends that could shape future product decisions. Check it out with a free trial today!
No Comments Yet
Let us know what you think