5 of the best Amazon sales estimators and why you should use them
Picking the right product to sell may be the most important decision you make when launching your FBA business. As there are millions of products to choose from, it’s easy to get lost in the jungle. That is the reason why sales estimators are developed in the first place, to nudge you in the right direction when choosing a product to sell.
What are sales estimators and how do they work?
It’s no secret that selling on Amazon is getting harder with every passing year. There are millions of sellers on Amazon who are listing millions upon millions of products. If you choose to invest your money into a slow-moving product you may end up simply losing your money while the product in question is collecting dust in some Amazon warehouse.
That is why it’s essential to understand the niche you’re selling in, as well as the number of sales of products in that category so that you may end up with a rough estimate of the value of the market you’re tapping into.
The most important thing to keep in mind is knowing the sales volume and the profit margin of the product you’re looking to sell.
That is where Sales Estimators come into play.
There re many amazon sales estimators out there and they all function in a pretty similar way. You just type in the product category, insert product ranking and voila, you get average sales volume estimated.
While they are not 100% precise, they will still give you a rough estimate on the profitability of that venture, so that you may choose whether to invest your money in that product or not.
What is Amazon sales rank and why is it important?
Amazon sales rank is a number ranging from 1 to 1 million. It gives you the information about the product’s popularity in a certain category and there are many factors that come into play when calculating it.
You can look at it as a popularity contest, with a lower number indicating greater popularity. So, you should aim for a product that has a low sales rank if you want to increase your chances to make money on Amazon.
While there are many factors that Amazon’s algorithm takes into the final equation when calculating sales rank or more commonly known as BSR (Best Sales RanK) these are the most important ones:
- Volume of sales
- Sales frequency - the interval between the two sales
- History of stable sales
- Seasonality of the product
How to improve Amazon BSR
As we covered before, sales rank or Best Sales Rank is the best indicator of the product success at the Amazon marketplace.
The higher the score the better.
There are a few things you can do right off the bat when you decide to sell a certain product that will guarantee increases in BSR rank, so don’t skip them!
Optimize the title and description
While Amazon can be likened to a huge search engine, one thing you have to keep in mind is that it’s written for people, not machines. That is why it’s of the utmost importance that you do your best to optimize the title. That should give potential customers an easier time when looking for your product, while the description is another chance to catch their interest.
Make sure to list features and benefits as bulleted points, not long paragraphs, since it’s much easier to scan through the listing.
Be price competitive
Price is one of the major factors that come into play when Amazon decided who gets that luxury real estate in the form of the buy box.
Don’t forget that the price in question includes shipping. If you think you’ll be fooling Amazon with low price and expensive shipping cost, the only one you will be fooling is yourself.
Another thing to keep in mind is while it’s recommended to offer a competitive price to customers, it may not a good idea to underprice your product.
You may end up starting a chain reaction that will end up as a race to the bottom. That will only lower your profit margins and when other costs come into play you may end up not making any money at all.
Use quality, High Definition photos
Pictures say a thousand words, right? No greater truth can be said when selling is in question. You may have the best product title, optimized product description, and great price, but if your photos are low-quality and grainy, you can be sure that most of the potential customers will simply click away.
First impressions matter and the quality of your photos serves as a proxy for the quality of your product.
So, don’t try to cut corners. If you aren’t much of a photographer, hire a professional who will make sure that:
- Images are at least 1000 pixels wide (Amazon recommends 2560 pixels)
- When clicked, image fills 85% of the frame
- The product has a white background
- The lighting is optimal
- The image format is JPEG/PNG/GIF/TIFF
Best Amazon sales estimators - paid and free options
After we have covered the basics of Amazon rankings and have given you some input on how to improve them, it’s time to give you a list of best applications that will help you decide whether or not the product you’re looking at has a selling potential.
The first one on our list is Jungle Scout’s sales estimator which can be used right from their website. It’s a free tool and quite easy to use.
You need to type in the BSR of the product in question, it’s category as well as the marketplace in question. You will end up with a rough estimate of the number of sales of the product which will give you an idea about the potential revenue the product generates.
It’s not exact, that’s why it’s called estimator, but it’s a great tool to give you a quick rundown about the sales figures you’re looking to tackle.
Viral Launch Market Intelligence
Knowing the sales figures is not enough information to decide whether or not to sell a product. There are a lot of factors that come into play.
That’s where Viral Launch comes into play. While it’s not free, it does give you more information such as:
- Previous sales figures
- History of prices
- Potential new trends
All of it serves so you can get a better feel for the marketplace. When you understand what the customers are looking for and how much are they willing to pay for it, you can position yourself better and reap the rewards.
Helium 10 prides itself as an “all-in-one” tool. It’s core features revolves around keyword tracking, but a plethora of other capabilities have been developed around it.
Some of the features are:
- Keyword rank tracker
- Sales estimator
- Duplicate keyword eliminator
One of the best features of this tool is Scribbles. It allows you to input a list of keywords and it will comb through it, deleting any duplicates and thus allowing you to utilize the remaining space better for backend product listing.
But the feature we are looking for right now is Performance Matrix.
Helium 10 will analyze sales from 30 days ago and calculate which products are moving down and which ones are becoming a hot new trend.
Not only will it give you a rough estimate of the potential revenue you could be bringing, but it also gives you information such as ROI, profit margin and others as well.
Another one on our list is AMZScout which may seem quite similar to JungleScout’s tool, but with their updated algorithm they have moved up in the relevancy list.
To use it you need to type in the sales rank of the product in question and it will give you an estimate of the sales in a certain marketplace, BUT thanks to the BSR30 Indicator you will also know which are the best products in each category you searched for.
AMZScout’s BSR30 Indicator is a metric that gives you information about how well the product is selling compared to its competitors in the same niche.
The algorithm takes into question things like sales volume, sales frequence and such. You will get a visual representation of big movers in the marketplace, so you can get a better feel for the potential profitability of the product.
ASINspector is one of the most accurate sales estimators out there. It’s a sales estimator tool that comes bundled up with a host of other options which will:
- Find the product and its price on Alibaba
- Give you an accurate monthly sales figures
- Give you a product page analysis
- Calculate profit margins
All of these capabilities come at a price. A 147$ at that, which you pay upfront and following 10$ payments each month for the Pro license service. That way you get all the features for life while paying a small monthly fee.
Certainly pricey options, but it may be worth the cost when calculating the time saved scouring the depths of Alibaba looking for your product to sell.
Choosing the right product estimator is important when deciding upon the potential products to outsource and sell to Amazon. All of the tools listed will be of great help in giving you the idea of potential profitability, but keep in mind they are just that. Tools.
They cannot replace your own mind when it comes to predicting future market trends and potential winners. While it’s possible to predict some trends when looking at the graphs alone, it’s not a guarantee. Use them mostly as tools that will give you a better list of potential winners, but use your own imagination and ingenuity when deciding which products to invest in.