Month: April 2023

Categories
Instruction

How to Set the Stage for Your Small Business’s Growth

Growing a business is an exciting venture, but determining where to start and how to make upgrades can be difficult. Here’s how you can set the stage for business growth.

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Create a Roadmap

Writing down goals is an essential step in setting the stage for your business growth. These goals should be SMART (specific, measurable, attainable, realistic, and timely). They should also stretch you beyond your comfort zone. But remember, don’t overdo it — focus on achievable objectives that are in line with your long-term vision of your business.

Streamline Using BPM

To ensure your business is in the best position to succeed and grow, automation through Business Process Management (BPM) should be carefully considered. This will streamline processes, resulting in faster and cost-effective solutions to common problems that exist inside business operations. By introducing automation to your day-to-day operations, tasks can be completed more quickly and efficiently. Automation further opens up new opportunities for further growth as it allows staff to focus on more meaningful work, instead of repetitive ones.

Strengthen Your Business Knowledge

If you feel like there are still gaps in your knowledge about running a successful business, then enrolling yourself in courses related specifically to helping small business owners thrive might be worth considering — especially if they cover topics such as finance and accounting fundamentals or project management best practices, which could prove invaluable during times of rapid expansion. Even taking part-time classes will give you access not only to knowledge but also to mentorship opportunities.

Ramp Up Online Marketing

Having an online presence is crucial when looking to grow your business. Make sure you have an up-to-date website that accurately reflects the current state of your company and its products or services. You should also have social media accounts where you can engage with customers and update them on new products or services.

Marketing plays a vital role in getting your name out there and increasing brand awareness among potential customers. Utilizing email campaigns and investing in search engine optimization (SEO) tactics are both great ways of achieving this goal while also keeping costs relatively low compared with other forms of marketing like paid advertising or sponsorships. Focusing on content marketing strategies such as blogging will help you to nurture leads into conversions over time.

Invest in Business Cards

Business cards are a simple yet effective tool for growing your business, as they give potential customers and clients an easy way to contact you. They work as a form of advertisement, allowing you to quickly spread the word about your products and services. Business cards also create a sense of professionalism and legitimacy, helping to inspire trust in those who receive them. Additionally, when exchanged, business cards can spark conversations with prospects and help grow your network. If you want to design business cards cheaply using modifiable templates, give this a try.

Focus on Customer Service

Customer service sets the tone for how customers perceive your brand, so having good customer service measures in place is essential for business growth. Investing in customer service technologies such as chatbots or automated emails can help save valuable time while providing helpful support for customers who may have questions about your products or services. Responding quickly and personally through social media platforms like Twitter or Instagram also shows customers that you care about their needs.

Protect Your Business for the Long Term

It may be beneficial for small businesses looking for room to grow to consider registering as an LLC or limited liability company. Doing this protects your personal assets if there are any legal issues involving the company and offers advantages such as tax savings and greater credibility. Registering as an LLC will also open up additional financing opportunities and provide easier access to contracts.

As you can see, setting up the stage for your business growth requires attention across the board, ranging from designing business cards to registering yourself as an LLC to business process management. Taking each, one step at a time, will ensure steady progress towards meeting and even exceeding your business goals.

Categories
News Updates

Announcing ChatGPT-enhanced Landing Pages

Hey, Amazon Sellers!

We have some exciting news for you! Zonmaster.com just launched its latest feature – a revolutionary ChatGPT-enhanced Landing Page Generator. This is a game-changer for Amazon sellers who are looking to up their marketing game and reach new customers in ways that were previously impossible.

So, what is the ChatGPT-enhanced Landing Page Generator?

It’s a brand new tool that harnesses the power of artificial intelligence to create custom landing pages that are tailored to your unique needs. This means you can generate your own landing pages, distribute coupon codes and capture potential customers’ email addresses like a pro!

We understand that marketing your products on Amazon can be tough, which is why we developed this industry-first feature to help you stand out in a crowded marketplace. We believe this new tool is going to change the game for Amazon sellers and we can’t wait to see you take advantage of it.

The ChatGPT-based Landing Page Generator is available to all subscribers of ANY of our PAID plans. So, if you’re looking to take your marketing efforts to the next level, make sure you sign up for a PAID plan today.

We’re committed to providing you with the best tools and services to help you grow your business on Amazon. Our range of features and services includes inventory management, customer feedback tracking, and order management – everything you need to succeed.

If you’re interested in learning more about our ChatGPT-based Landing Page Generator feature, visit our website at www.zonmaster.com.

Let’s revolutionize the world of Amazon selling together!

Categories
News

Get Ready for Prime Day

Amazon is advising sellers to ready themselves for Prime Day 2023

As we approach the annual Prime Day event, Amazon is instructing sellers to prepare by shipping their inventory to Amazon’s warehouses no later than June 15, 2023.

To account for any unforeseen logistical, weather, customs, or carrier-related setbacks, Amazon recommended that sellers obtain their orders well in advance of the June 15 deadline. Although Amazon may accommodate delayed shipments for a few days, sellers should not risk missing out on the significant sales potential of one of Amazon’s busiest days. Furthermore, Amazon has requested that sellers create their Prime Day promotions by April 28, providing them with just four weeks to establish their deals for this year’s Prime Day.

So, what about Prime Day itself?

Although Amazon has not yet announced an official date, we can make an informed estimation that Prime Day will likely take place for 48 hours around July 11 and 12, 2023. This timeframe will allow Amazon approximately one month to distribute inventory throughout its various warehouses.

Furthermore, Amazon has shared three essential recommendations for sellers to adequately prepare for the ninth annual Prime Day.

Keep a close eye on the Deals Dashboard to confirm that your deals are not being suppressed.

Before your promotion is scheduled to begin, it’s possible for it to become suppressed due to problems with stock, SKU, pricing, or compliance. To resolve this issue and reactivate your deals, sign in to Seller Central, navigate to the “Advertising” section, and modify any areas highlighted in red for your suppressed promotions.

Do not change your price.

You don’t have to adjust your price to reflect the deal price since Amazon will automatically update it according to the price you entered in Seller Central. If you modify your current offer price, there is a chance that the promotion may be suppressed since it no longer meets the discount standards required.

Conduct quality inspections on your promotions and the associated SKUs.

Ensure the quality of your promotions to guarantee that customers have a satisfactory experience while discovering and purchasing your products. Ensure that the deal image is on a white background and that the bullet points on the product detail page precisely describe the item on sale. If you are registered as a brand, inspect your A+ content since it provides an excellent opportunity to share additional information about your brand or products.

What About Amazon Prime Day 2?

Amazon conducted a secondary Prime Day sale for the first time last year, which resulted in mixed outcomes, with the secondary event generating only about a third of the total sales of the primary Prime Day. As a result, it’s uncertain if Amazon will attempt to do so again, and sellers should anticipate only one event in 2023, given the underwhelming performance of the second event.

Categories
Uncategorized

What is a SKU?

Do you sell products on Amazon? If yes, then you must know about Amazon SKU numbers. They are unique alphanumeric codes that help you keep track of your products on Amazon’s platform. By assigning SKU numbers to your products, you can manage your inventory and orders from one central location.

Amazon is a massive e-commerce platform with over 300 million active customer accounts and 1.9 million selling partners globally. So, it’s crucial to create and assign your SKU numbers correctly. By using Amazon seller accounting software, you can use SKUs to track sales data, manage inventory levels, and streamline the ordering process.

SKU attributes are the information you structure within your SKU, such as brand, size, resolution, price, smart-capability, compatibility, etc. By including these attributes in your SKUs, you can manage your inventory efficiently.

You should always create and manage your own Amazon SKU numbers instead of ASINs (Amazon Standard Identification Numbers). While ASINs identify products on Amazon’s platform, they aren’t the SKU number you assigned. Using your own SKUs will help you track profitability, calculate accurate margins, and recognize potential trends to grow your business.

Amazon offers a variety of methods to find your SKU numbers, such as accessing Amazon Seller Central, reviewing the information listed on your product page, and finding them on receipts or product packaging.

By using SKUs correctly, you can record losses, make strategic inventory forecasting decisions, track an item’s location within your warehouse, improve inventory accuracy, identify shrinkage, reconcile inventory, and perform profit analysis by SKU to determine best/worst sellers via attributes.

In conclusion, using SKUs correctly leads to better inventory management in ecommerce and tracking sales more efficiently. So, if you’re an Amazon seller, consider using Zonmaster, the Amazon seller tool for managing customer communications and tracking Amazon success, to manage your SKUs and grow your business.

Categories
News

FBA storage capacity system updates

Warehouse Management 101: Process & Best Practices

The FBA storage capacity system on Amazon has recently been updated, and this update may have an impact on you.

In the past few years, Amazon has changed its FBA storage limits multiple times, leading to confusion and annoyance among sellers, who saw their inventory being restricted or decreased in some cases. The weekly restock limits and quarterly storage volume limits implemented by Amazon created further perplexity. However, as of March 1st, 2023, Amazon has eliminated the weekly restock and quarterly storage limits and has introduced a new system called FBA capacity limits, which encompasses a monthly capacity limit. Keep reading to discover more about Amazon’s newly simplified FBA capacity management system.

What are FBA capacity limits?

FBA capacity limits are a monthly constraint that dictates the quantity of inventory that sellers can ship and store at Amazon. This new system offers greater inventory capacity and control than the previous FBA inventory storage and restocking limits. These limits are established during the third week of each month, allowing sellers to plan for up to three months ahead with approximate capacity limits specific to each storage type in their account (e.g., standard size, oversize).

Your FBA capacity limits are heavily impacted by your IPI score in the Inventory Performance section of Seller Central. The higher your IPI score, the higher your capacity limits will be.

Who is subject to FBA capacity limits?

Amazon will not impose capacity restrictions on new professional sellers as the company hasn’t had the opportunity to evaluate its inventory performance yet. However, professional accounts that have been in operation for a minimum of 39 weeks will be subject to capacity limits.

How does this new streamlined FBA capacity management system work?

  • Sellers indicate a reservation fee for every cubic foot of supplementary storage capacity.
  • Amazon will objectively approve the request by beginning with the reservation fee with the highest value per cubic foot until all assigned capacity is provided.
  • Once Amazon grants extra capacity, sellers can offset their reservation fees by obtaining performance credits from the sales they generate using the additional capacity.

What if you need more storage space?

If you find that you require more space for your products or are introducing a new product and need additional room, you can ask for more capacity by paying a “reservation fee.” The reservation fee involves bidding against other sellers, and those with higher reservation fees will be given priority over those who bid lower. Once extra capacity is granted, a seller’s reservation fee can be offset by earning performance credits from the sales generated through the added capacity.

The aim of the performance credits is to compensate for up to 100% of the reservation fee, which means that sellers won’t have to pay reservation fees if their new inventory sells out. This emphasizes the importance of the sell-through rate once again.

How FBA capacity limits affect Amazon sellers

As a seasoned seller on Amazon, you must be aware that remaining vigilant is crucial while selling on this platform. This is because Amazon keeps updating and modifying its policies and functions, compelling sellers to adjust quickly.

However, in the case of this specific change, we believe it is a positive development, particularly when compared to past inventory storage changes. This is because it offers sellers a more transparent understanding of how much inventory they can send to Amazon per storage type. Moreover, Amazon has stated that this change will allow most sellers to enjoy increased capacity limits, which is a positive aspect.

Amazon will reward sellers with more storage capacity if they can sell their existing inventory quickly. However, if inventory remains unsold for an extended period, do not expect additional space. If you require more room for a new product launch or other items, you can bid for more storage capacity. However, we recommend doing so only if you are confident that the new inventory will sell, as Amazon will compensate you with performance credits that can offset the reservation fees.

The primary factors that have the most significant impact on your IPI score are:

  • Excess inventory: It is advisable to prevent the accumulation of stagnant inventory that remains unsold and incurs monthly storage charges.
  • Sell-through rate: It is desirable to keep this rate as high as possible. The sell-through rate is calculated by dividing the number of units sold and shipped in the last 90 days by the average number of units available in Amazon’s fulfillment centers.
  • In-stock rate: Amazon encourages sellers to maintain a stock of fast-selling items as much as possible.
  • Stranded inventory: Stranded inventory refers to the stock that is present in Amazon’s fulfillment centers but has no active offer for the product. It is recommended to maintain this percentage at 0.

Focus on your IPI score

A crucial lesson to take away is to concentrate on enhancing your IPI score, which is a significant factor. Amazon requires your score to be at least 400, and if it falls below that, you may anticipate a reduction in your capacity limits.

Amazon will display the top contributing factors and the elements that have a negative (and positive) influence on your score. Therefore, use this information to enhance your inventory performance.