LEVERAGE THE ADVANTAGE OF AMAZON BRAND ANALYTICS TO INCREASE SALES
Every seller aims to drive more traffic to increase sales and profits. Many people used to say that selling on Amazon is a LOSS. But then a fact is that they sell the products without understanding the basics and proper research. People used to sell the products at 99/- with calculating the cost. Then complain that they are spending a lot of money on ads. But they don’t get desired results. Sellers used to sell the products without doing technical analysis.
Do you know? Amazon has many free tools which give you insights into your performance and helps in making wise decisions. One such tool is Amazon Brand Analytics. Using Amazon Brand Analytics, sellers can decide their selling strategy by analysing the statistics and reports.
What is Amazon Brand Analytics?
Amazon Brand Analytics(ABA) is a free tool that gives valuable and meaningful data for improving the marketing strategy. Brand Analytics lets you know what is working and what is not working. It tells the actual position of your brand. Analytics reports help in taking proactive decisions for a wider reach.
With these reports, you can decide the performing keywords, strategise your ad campaigns, analyse the customer behaviour pattern, product portfolio etc.
Eligibility Criteria for Amazon Brand Analytics:
Amazon Brand Analytics feature is only available for those who have done Brand Registry on Amazon. With Amazon Brand Registry, you can give a better customer experience, protect your brand, enhances visibility and increase your overall sales.
How Amazon Brand Analytics will work?
Department:
You can get insightful data by filtering from the departments also.
Using Search Term/ ASIN:
Using Search terms/keywords or Amazon ASIN, you can get relevant data.
Reporting Period:
With this, you can select the time for which you need relevant data.
Amazon Brand Analytics gives a detailed analysis of the following:
- Amazon Search Term
- Repeat Purchase Behaviour
- Market Basket Analysis
Amazon Search Term:
Amazon Search Term lets you understand and analyse the winning products with the highest clicks and conversions in the specified time period.
You can use this by searching any ASIN, keywords or products. You will get results on daily, weekly, monthly and quarterly data according to your need.
With Amazon Search Term, you can find the performing keywords for the particular ASIN. It gives better results to analyse which keyword has the highest clicks and, you can find new keywords for your products. With this tool, you can do your competitor analysis by analysing their keyword strategy, and by optimising your listings.
Terms used in Amazon Search Term:
Search Term:
The Search Term is a word or a group of words which people use to search for a particular product.
Search Frequency Rank:
Within the given reporting period, it gives the numeric rank of the particular search term which is ranked based on search frequency. It helps to analyse the most relative search terms though search volume for specified keywords is not available. You can also use this to optimise your listings.
#1 Clicked ASIN:
It gives you an idea of the most clicked ASIN in the given reporting period for that particular search term.
#Product Title:
It gives the title of the product. You can understand the customer preference and you can optimise your listings accordingly.
#1 Click Share:
It gives the overall percentage of the clicks that the particular product got in compared to the total search results in the given reporting period.
Click Share= No.of times customer clicked on the particular product for a search term/ Total no.of clicks that any product received during the period
#1 Conversion Share:
It gives the overall conversion that the product achieved compared to the total conversion rate in the given time period.
Conversion Share= No.of times customer bought a particular product for a search term / Total no.of conversions for any product during the period
In short, it gives a detailed analysis of
-Optimise your listings according to the most popular search term
-Competitor analysis of the winning keywords
-Most searched ASIN for the specific keywords
Repeat Purchase Behaviour:
This report gives an idea about the number of orders received for the particular products or the number of unique customers for the product in the given reporting time.
It helps the sellers to formulate new plans for driving repeated purchases by customising the advertising campaign.
You can also drive sales by acquiring new customers by strategising the marketing.
Market Basket Analysis:
Market Basket Analysis helps in analysing the purchasing behaviour of the customer. It shows the brand owners the frequently purchased products as when they purchased the brand owner’s products. Sellers can choose the time frame like daily, weekly or monthly.
With this data, sellers can strategise their marketing campaigns and cross-sell their products. The report gives the top three products which are frequently brought together in the selected reporting period.
In short, it gives a detailed analysis of
- Bundling products to add more value
- Cross-selling of products
- It helps to expand your product portfolio
How do sellers use this data to appear Frequently brought together?
Frequently brought together is automatically generated by Amazon based on the purchase behaviour of the customer. Sellers can create specific product campaigns to increase the chance of appearing frequently brought together.
Follow these steps to increase the chance:
-Run Sponsored Product Campaign
-Create an ad group with Product Targetting- It helps to make the product appear on the same page as the target ASIN which helps to increase the chance of being Frequently brought together.
-From the results of the Market Basket Analysis, enter the ASINs which are frequently purchased together in the Individual Products.
-Set up the bid as low as possible
-Improve the bidding of product page placement
Benefits of using Amazon Brand Analytics(ABA):
Free Tool:
Amazon Brand Analytics is a free tool that provides meaningful data to increase sales. Compared to third-party paid tools, this report gives a deep analysis that brand owners couldn’t find on other websites. With this, brand owners can optimise your Amazon listings to drive more traffic to your store.
Identify Potential Keywords:
This report helps to analyse the performing search terms from which you can use additional keywords for your listings. Understand the winning keywords and optimise your listings.
Formulate a new marketing strategy:
By analysing the competitor’s performance, sellers can implement the same in their listings. Sellers will understand where they went wrong and why their products are not performing. With these data, sellers can customise their advertising campaigns and target competitor products.
Identify the Audience Behaviour:
Understanding customer behaviour is the crucial step to increasing sales. It is the prime aspect that brand store owners should take into consideration while framing marketing strategies.
User-Friendly Tool:
Brand owners don’t require expertise to use this tool. The user interface is friendly to understanding the data generated. Sellers can also download the reports for further analysis.
Conclusion:
Finally, Amazon Brand Analytics helps you to build your online store effectively and strategically. Analyse the competitors’ market channels and customer behaviour. Sellers must explore the options provided by Amazon to scale their business. Using the free available tools, you can do wonders in selling online. It’s time to explore the tools which are already available and increase your sales and revenue.
