BANS 2: Analyzing The Terapeak Data

Today is day 2 of the Build A Niche Store Rebuild series.

In this series, I am going to be taking a step-by-step approach to getting my Build A Niche Store, or BANS, seen, visited and making daily sales.

Today’s topic: Analyzing The Terapeak Data

Today’s lesson is a short one so let’s get right to it.

By now, you should have a nice size list of your store categories with the following information:

• category name
• average selling price
• number of listings used in calculations
• sell-through percentage

You now want to scan through your list and find the categories that have the highest average selling price and make a mark next to them. We need also to look at the number of listings involved and the sell-through rate for each of these categories. If a category has a high dollar amount but is based on a very low(less than 500)listing count, check to make sure you searched for the singular and not the plural form. If the singular form has just as low of a listing count, then move on to the next one. It the numbers are better for the singular, then we need to consider the sell-through rate.

The sell-through rate needs to be at least fifty percent and as close to sevent-five percent as you can get. A lot of people will think if they have even a ten percent chance of selling a high dollar item why not take it? The answer has to do with maximum return on your effort. I would rather optimize my store for categories that sell like mad, sell through a high percentage and maybe get a slightly lower dollar amount than spending my scarce time optimizing a category with almost no items for sale or that have a low sell-through percentage. Does this make sense?

Our goal is to select ten categories in this process which meet our criteria of high dollar average, high listing number and high sell-through rate.

We will next minimally optimize our BANS stores for the categories we just identified in the next installment of the Build A Niche Store Rebuild series.

Best,

[tags]BANS,build a niche store,build,niche,store,terapeak[/tags]