Operating an Amazon business is not an easy task. Hiring virtual assistants to take care of tasks can make it a whole lot easier.
There are a good number of mundane tasks that a seller has to complete on a daily basis. Sure, there are Amazon seller tools to automate some of the daily chores. This can ease your burden to a certain extent. However, just like all machines, they require set-up before running for the first time. They also need to be monitored and optimized continuously to work as intended.
If you are using tools like Amazon repricers, then all this is not new to you. These repricers can automatically adjust the prices of your listings and help you win the buy box. This helps you to increase sales if the minimum price, maximum price and repricing rules of your listings have been set accurately. If your Amazon business has grown to a certain level and you are selling thousands of listings, setting repricing rules for a large quantity of listings is going to be time-consuming.
To save your precious time, you should consider hiring a virtual assistant to help you maximize the effectiveness of your Amazon repricer.
How can Hiring Virtual Assistants Help?
1. Set up Min, Max Price and Repricing Rule
Sellers who are using an Amazon repricer have one common concern in particular. They worry that their prices might drop to the min price, which means that their profit margins are going to shrink. To prevent this from happening, sellers have to put great effort into cautiously deciding their min and max prices. And this is just the beginning.
The essential settings for an Amazon repricer are the three parameters mentioned above: Min price, Max price and repricing rule. Without these three elements, your listing cannot be repriced. The process can be tedious for large numbers of listings. Monitoring repricing can be equally tedious. Hiring virtual assistants takes all of that hassle and grunt work off your plate.
2. Calculate your profit margin
Hiring virtual assistants who have specific experience can be a boon for your business. An example of these specialists is someone who knows Amazon pricing. This worker can help you to precisely determine your min and max price. The first thing to do is to calculate your costs and estimate your profit margin. A contractor with an accounting or finance background can take care of this without a problem.
Some Amazon repricers have special features that can make the process easier. The BQool repricer, for instance, gathers Amazon Referral Fee, Closing Fee and FBA Fulfillment Fee data. Sellers can easily count this data into their costs. Each product still has different costs and estimated profit margins, so calculations will still be time-consuming.
Moreover, if you are selling on the Amazon EU marketplaces, you will want to take EU VAT into consideration. You will have to make careful calculations for this when deciding min and max price. The penalties in the EU are grave, so you don’t want to make an error. Hiring virtual assistants who know all the rules of taxation for the EU marketplace can save you a lot of headache in the future.
3. Optimize your repricing rules
There are some default repricing rules that you can apply to your listings. For an Amazon repricer newbie, it’s a simple way to start. However, these default repricing rules will not be able to cover every scenario. You have to be savvy to keep up with the competition.
To make the repricer work more effectively, you can have an experienced virtual assistant set specific repricing rules. You can ask them to make adjustments for products in different categories, for example. The worker can also do research and monitor your competitors to understand how they operate. Then they can customize your repricing rules accordingly. For instance, if you have both FBA and FBM competitors, let the worker develop specific repricing strategies for the two fulfillment types.
What requirements should you look for?
Good at logic
The rationale of the rules of any Amazon repricer is based on logic. To understand which setting would be the most effective for your listings, the virtual assistant has to know the logic behind it first. Take BQool’s Repricing Central for example. There are two different settings for listing in the buy box and not in the buy box. The virtual assistant should understand the simple logic that the system will apply another rule when your listing wins the buy box.
If you can’t afford an expert who knows all of this already, you still have options. You can hire someone who at least has good logic and good communication skills. This way, communicating with the repricer support staff while onboarding will be smooth and easy.
Good with Numbers
Another vital factor to master an Amazon repricer is number skills. After all, in the fiercely competitive Amazon world, a mere one-cent difference is no small matter. This one cent can decide whether you are in the buy box or not. As such, the virtual assistant should be equipped with a keen eye. They need to closely monitor the fluctuation of your price changes as well as your profit margin, down to that last cent.
Many Amazon sellers operate their businesses on their own or with little or no staff. This puts a lot of pressure on them to keep up with operations. Hiring virtual assistants to manage repricing is a cost- effective and time-saving solution. Follow the tips above to find a suitable virtual assistant to take care of settings and monitoring to make your Amazon repricer work better for you.
This article was contributed by BQool, a SaaS company offering great software solutions that help Amazon merchants resolve daily business challenges. The BQool suite so far consists of Repricing, Feedback, and Review Central.