Amazon’s Best Seller Rank also known as BSR is a metric that ranks products under their category. This metric which ranks the products with the lowest BSR as the top performer is an indicator of the product’s sales performance. Since consumers use these rankings to make purchase decisions understanding this system could help to succeed in the Amazon marketplace.
The thing about Amazon BSR is that the way it ranks products is largely left behind the curtains. So most Amazon seller marketing agency finds it a tricky domain to ace. However, AMZ Marketing Hub being the leading player in the industry has gained some insights with advanced analytic solutions and in-depth research. The following sections which crack the code of BSR are based on such insights.
Understanding Amazon BSR
- BSR ranking applies to products under a specific category. This means that a product being ranked as the top seller in a particular category doesn’t mean that it tops among the entire products on Amazon.
- Likewise, a product that aces in one category may perform terribly in another.
- The bright side is that a single product can compete in multiple categories.
- BSR is also updated on an hourly basis. This means that the ranking of a product can go down or rise in a matter of an hour.
- Companies who run digital marketing for Amazon sellers largely associate this ranking with current sales and historic sales volumes.
- Among these, the current sales seem to have a higher weightage.
An extensive analysis of the factors that drive Amazon BSR is listed below.
Factors that Determine BSR
- Sales Speed: The speed at which a product is sold is found to affect its BSR. If a particular product has a high sales speed it is likely to have a lower BSR meaning better performance.
- Recent Performance: Other than the current performance the sales of a product over the last 24 to 48 hours may affect its BSR. Since products with consistent daily sales are found to consistently hold a lower BSR ranking this observation is reliable.
- Historical Sales Volume: In case a particular product experiences better sales consistently for months or years, they are likely to have a better BSR value. Our Amazon seller marketing agency has found this observation as reliable based on sales analytics.
- Price Competitiveness: Lower prices attract more buyers and increase sales. Analytics shows that such price optimization strategies result in about a 30% increase in sales speed resulting in desirable BSR values.
- Promotional Activities: Similar to price optimizations promotional activities including deals and discounts have a positive impact on the Best Seller Rank. However such impact is only temporary with improvements during the promotional period. It may extend to the immediate period that follows once the promotion has been revoked.
- Product Reviews and Rating: According to a Harvard Business Review Study a one-star increase in a product’s rating leads to about a 5-9% increase in revenue. Other studies also highlight that online reviews are trusted by about 80% of consumers with the same value given to personal recommendations. All these data point to the direct impact on sales by these parameters. Such sales boosts are also found to lower the BSR value.
- Inventory Management: Amazon seller marketing agencies are found to highlight the crucial role of inventory management in the Best Seller Rank. This is because of the negative impact of out-of-stock products on sales velocity and volume.
These are the general factors that are very likely to influence the BSR of a product under any of its listed categories.
Tested Strategies to Beat Amazon BSR
- Optimize Product Listing: This is a tested strategy to improve sales volumes and thus the BSR. Companies leading digital marketing for Amazon sellers are found to succeed in this domain with effective optimizing strategies and quality content in the form of images as well as text.
- Competitive Pricing and Promotional Campaigns: Since pricing and promotions are found to be factors that influence BSR, any novice seller in the Amazon marketplace can easily achieve improvements in this channel.
- Enhanced Product Reviews: Improving product reviews is a task that needs consistent effort. It requires proper responses to reviews and engagements with negative reviews so that the concerns of the customers are alleviated to some extent.
- Monitor and Adjust Strategies: To put the remaining proven methods in a simple statement: Pursue regular monitoring. Regular monitoring of the other factors such as inventory management that influence BSR and adjusting strategies can make great improvements.
So by now, we have cracked the code of Amazon BSR through a thorough understanding of its mechanics followed by factors that impact your product ranking. A bird’s eye view of some effective strategies to beat the challenge of BSR has also been provided.
Now what you need is a reliable Amazon Seller Marketing Agency who can effectively implement such strategies on your behalf. AMZ marketing Hub with its advanced analytics tool is equipped to take up this task. Reach out to us to further explore your possibilities to be successful in Amazon Seller Place.