Amazon analytics have been around for a long time. Still, Amazon’s rapid advancements have made it necessary for companies selling on the marketplace to adopt an Amazon in-depth brand analytics solution to grow their gadget sales on the market.
As part of its rebranding efforts, Amazon Brand Analytics is working to enhance data quality while also developing new business attribution studies. Earlier this month, Amazon announced the debut of its search analytics dashboard, which would give third-party merchants precise information about their product search results on Amazon.
What is amazon brand analytics?
Amazon Brand Analytics is a collection of reports made available to approved users of the Amazon Brand Registry to help them better understand their brand. The programme provides valuable insight into consumer behaviour, popular search phrases, competitor performance, and advertising activities, formerly known as Amazon Retail Analytics.
Businesses may be able to use this additional information to increase sales on Amazon and, if required, throughout their whole omnichannel network. In addition, having a registered brand on Amazon allows you to have more control over the presentation of your company’s brand. Aside from that, they get unique access to crucial technologies, such as Amazon brand analytics, explicitly developed for corporate use alone.
What is the significance of Amazon analytics?
Amazon analytics provides six different reports, one for each sales funnel step. This data may then be utilized to guide marketing and product positioning choices.
Brand Analytics now delivers six special reports. Each of these is critical for a variety of reasons. We’ve included a list of the six Amazon Brand Analytics reports below, along with a brief explanation:
1. Amazon Keywords
This research identifies popular Amazon keywords and may assist firms in improving their rankings. This is critical for organizations looking to capture the digital shelf and increase consumer awareness of their items.
2. Amazon Acknowledgement
This report is still in beta testing and is currently only accessible in Canada, the United States of America, the United Kingdom, and a select number of European nations. However, early adopters utilize this report to determine the influence of their external marketing channels, such as search and social media, on Amazon sales.
3. Comparison of Items and Alternate Purchasing Behavior
This research delves into the consumer funnel’s contemplation stage. It enables companies to see which competitor items are seen and purchased by customers. This may give critical information that merchants, and other third-party sales channels may not always supply.
4. Analysis of the Market Basket
Brands can observe which items their customers buy alongside their own, which may be used to guide the design of product bundles and other cross-marketing possibilities.
While this sort of data is very beneficial for businesses, it is recommended to employ a Where to Buy solution to get a comprehensive picture of product bundles. With a Where to Buy solution, you can observe which items were bought alongside yours and which products were purchased in lieu of yours if the consumer’s opinion changes throughout the purchasing process. Additionally, by using a Where to Buy solution, you can monitor performance across all store websites, not just Amazon.
5. Demographic information
Brands may get this report to learn about their clients’ age, family income, gender, education level, and marital status. In addition, they may use this data to determine the efficacy of their audience targeting and make more informed product portfolio selections in the future.
6. Purchase Recurrence
This reveals critical information about brand loyalty among Amazon shoppers.
Whatever your business’s goals are, you’ll be able to glean important information from one of the aforementioned reports. Additionally, since this Amazon analytics is only accessible to brand owners, it gives them a competitive advantage over third-party merchants and non-branded competitors.
Indicators to Keep an Eye on in Amazon Brand Analytics:
Each ASIN’s Share button
Amazon’s Search Term report is a goldmine for keyword research. You can quickly determine which goods are the most popular and commonly bought for any keyword you enter.
As a consequence, if one of your products is particularly well-known, you’ll be able to monitor how many people click on and purchase it.
By contrast, you are not required to enter hundreds of search terms to see which keywords generate the most significant traffic to your listings. Instead, you may use the search bar to enter the ASIN of a product to discover the most common phrases linked with it.
Customers Who Recur
The research on Repeat Purchase Behavior has an abundance of data. There is a technique to determine the percentage of orders placed by repeat customers. More importantly, you can choose the monetary value of recurring clients. To be lucrative, this sum must be increased weekly or monthly.
Consumer Purchases of Competitor Products
The Alternate Purchase report enables you to determine how many consumers viewed your products before making a purchase elsewhere. Coca-Cola, for example, may discover that 10% of consumers who looked at their six-pack decided to purchase a Pepsi multipack instead.
It assists brands in determining which products and competitors represent the biggest threat to their revenue and profitability. They may also use this data to boost their goods’ search engine results.
Rate of Click-Through
Amazon’s attribution system may be used to monitor non-Amazon search and email marketing. Tracking tags must be integrated into your website in order to have access to important data like as views, click-through rate (CTR), and purchases on Amazon.
Your click-through rate may be used to determine the performance of various channels and to have a better understanding of the impact of each of your campaigns. These measures may have a significant influence on companies that depend significantly on Amazon for sales.
The profitability of brands may be significantly boosted via the usage of data-driven marketing. Apart from other reporting tools, Amazon analytics provides extra data that is not available via a simple glance at your online store.
Data-driven marketing may significantly increase a brand’s earnings. While Amazon analytics cannot replace other reporting solutions, it does give complementary information that your own eCommerce shop cannot supply. Additionally, this tool is beneficial if your application for participation in the Amazon Brand Registry is still waiting.