Originally launched in the US earlier this year, Amazon Brand Analytics reached the UK in mid-August and brand owners are rejoicing.
Amazon Brand Analytics provides sellers who own a brand with valuable insights and data, which would have previously cost them around £30k+ to obtain. So how can brand owners leverage this new feature to maximise their Amazon advertising?
Amazon Brand Analytics
When Amazon first introduced this feature, they stated: “Brand Analytics is a feature that contains valuable insights to empower brand owners to make informed, strategic decisions about their product portfolio and marketing/advertising activities.”
As long as you have a brand registry, you will be able to access Brand Analytics under the ‘Reports’ tab in Seller Central. Additionally, you can also go to brandanalytics.amazon.co.uk and use your Seller Central credentials for access.
There are three different core metrics that Amazon Brand Analytics provides:
1. Search Frequency Rank
This is defined by Amazon as “the numeric rank of a specific search term popularity when compared to all other search terms during a given time period.” So what does this mean for brand owners? These metrics will show you the most clicked Amazon standard identification number’s (ASIN) when given a specific search term, and therefore brand owners can identify how frequently their products are appearing in searches based on how low the Search Frequency Rank is.
2. Click Share
Amazon describes Click Share as “a percentage determined by the number of times Amazon customers clicked on a particular product after searching for a given term, divided by the total number of times Amazon customers clicked on any product after searching for that term.”
This therefore allows sellers to find out what percentage of customers are clicking on their product or a competitor’s product, which is great data to use in order to refine your advertising campaigns.
3. Conversion Share
Conversion share is a percentage which shows the correlation between the number of times an Amazon customer has bought a specific product after searching for a given term and the number of times they have bought any product after searching for that given term. The importance of this metric is that it displays which brands are currently leading the market for specific search terms, and therefore will help inform brands on the best advertising and listing approaches to improve their brand’s market rank.
How does Brand Analytics work?
There are three steps involved with using Amazon Brand Analytics:
- Select the data range you wish to review from the drop-down menu
- Use relevant keywords and product names/Amazon ASINs to obtain the relevant data.
- Specify your product department e.g. Beauty, Home & Kitchen or Electronics.
The most obvious benefit of Amazon Brand Analytics is that it is completely free, so what would have originally cost brands thousands of pounds to acquire is now easily accessible. But there are several other benefits of this feature that make it a very valuable tool for brand owners on Amazon.
Using the Search Frequency Rank metric, you can seamlessly identify potential keywords to help your target your product listings towards better organic rankings.
With access to competitor data, you’re able to get a clear picture of the current market landscape and therefore better understand where valuable opportunities lie and gear your marketing strategies towards achieving them.
By evaluating your current keyword sets on Brand Analytics, you can identify what products users are searching for the most within your range. With this data, you can innovate your product listings to more precisely meet what users are looking for. For example, if the highest search term was ‘protein shakers’ and the top-performing keyword was ‘protein shakers for swimmers’, you could increase ad spend for this keyword and also incorporate it within your product listing in order to reach a specific audience group.
As a seller, Amazon Brand Analytics provides deeper product insights and helps you assess which search terms are driving sales, which will ultimately be able to guide your product listings and advertising options.
Can I download reports?
The answer is yes. Here is a selection of reports that are available to download through Brand Analytics;
When looking at the Item Comparison report, it displays the top five products most frequently viewed within a day and compares this with your products, providing you with a percentage of time each product is viewed in correlation with your products within the date range selected.
This report provides you with a complete breakdown of your Amazon customer demographics including age, household income, education, gender and marital status.
The value of this report is undeniable as it shows you how your customers are finding your products, whilst also mapping out your customer touchpoints. You can also access this data for your competitor’s products too, with extra features such as the products relative search popularity, click share and conversion share also provided.
What’s more, a Search Term report shows the most popular search terms on the platform, featuring the term’s search frequency rank and the top three products that customers have clicked on after searching for that specific term.
Market Basket Data Analysis
Data within this report allows you to identify cross-selling and bundling opportunities by reviewing which products are frequently bought together by your customers. This should help direct and decrease advertising cost of sale (ACOS) in campaigns such as Product Targeting ads and Product Display ads targetting.
To find out more about how you can accelerate your Amazon advertising strategy, come along to our upcoming event Croud breakfast: Driving growth on Amazon, being held in our London office on Thursday 26th of September. You’ll hear from industry experts including Amazon, Eve Sleep and Croud on best practices for Amazon and engross in an insightful discussion amongst your digital marketing peers. Register for free online today!