With millions of sellers and buyers worldwide flocking to the online marketplace every day, several Amazon brand owners may fear they’ll fade into obscurity amidst the cutthroat competition. Luckily, the e-commerce giant launched a tool to give sellers a fair fight—Amazon Brand Analytics.
As a brand owner, staying ahead of the competition is key to:
Brand Analytics can help you with that!
Let’s discover the benefits of Brand Analytics for one’s business, its key components and limitations, and possible future trends and features to stay ahead of the curve.
Brand Analytics is a feature that gives valuable insights into consumer behavior. It offers countless reports to help sellers refine marketing and advertising strategies and improve brand visibility on Amazon.
With these reports, sellers can make data-driven decisions to
To be specific, here are a few areas where Brand Analytics can benefit your brand and business:
|Consumer Behavior||Sellers can observe and understand customer preferences and purchasing patterns better, allowing them to optimize strategies and improve overall customer experience.|
|Keyword Insights||Sellers can also do keyword research to identify high-performing keywords that improve product visibility and search ranking on Amazon.|
|Inventory Management||Insights from Amazon Brand Analytics reports can aid in forecasting customer demands and preventing inventory issues.|
|Competitor Analysis||The tool lets sellers analyze how their competitors fare in the marketplace, how they price their products, and more. These data help sellers find their competitive edge and stand out.|
|Product Development||In line with identifying strengths and weaknesses, Brand Analytics can prompt you to enhance your current products or develop new ones based on customer demands.|
|Market Opportunities||Brand Analytics may also give way for sellers to tap uncharted markets and niches, allowing their businesses to flourish and expand beyond their current reach.|
Brand Analytics can give your brand and business all the benefits mentioned above through several analytics reports, metrics, and tools to track and analyze crucial data. These Brand Analytics tools include:
All of these reports are easily accessible through the Brand Analytics dashboard. Let’s dive deeper into each analytics tool to understand how they can turn your business into a brand brimming with success.
The Search Terms report allows sellers to discover popular search terms most Amazon customers use when searching for products. Likewise, sellers will get Search Frequency Rank insights that display the rankings of each search term.
With the Search Terms report data, sellers can identify which search terms have high-converting keywords and use this information to optimize product listings and refine ad targeting and advertising campaigns.
You can locate this report by heading to the Brand Analytics dashboard, clicking Consumer Behavior Dashboards, and selecting “Amazon Search Terms” under the category.
One of the most common consumer behaviors is placing several products in their basket and checking them out in one go. With Market Basket Analysis reports, sellers can identify items frequently bought together.
Subsequently, they can use this data to find cross-selling opportunities and offer product bundles to their customers, effectively increasing order sizes and boosting sales.
You can access this Brand Analytics report by selecting “Market Basket Analysis” under the Consumer Behavior Dashboards menu.
As mentioned, one of the ways Brand Analytics can aid in an Amazon seller’s journey is through competitor analysis. With Item Comparison reports, sellers can monitor how often their products are compared to the competitors' products by showing them what types of items their customers click on after viewing their products.
With these report insights, you can identify and further enhance your products' points for improvement. Click the “Item Comparison and Alternate Purchase Behavior” option from the Consumer Behaviors Dashboard to view this report.
If the Item Comparison report shows sellers what items customers visit after viewing their products, the Alternate Purchase Behavior report presents which items customers actually bought on the same day.
Besides presenting crucial information such as the titles of purchased products and their ASINs, Amazon will also show users what other item combinations and bundles were purchased along with the product in question. You can check this report by selecting “Item Comparison and Alternate Purchase Behavior” from the Consumer Behaviors Dashboard.
Moving away from all the competition talk, let’s talk about what items on your product list are frequently purchased. By determining which items sell like hotcakes with the Repeat Purchase Behavior report, sellers can identify customer preferences and adjust their inventory accordingly.
The report can show sellers which products need more restocking and which ones they can scale back to avoid overstocking. You can access this report by clicking “Repeat Purchase Behavior” from the Consumer Behaviors Dashboard.
Most importantly, Amazon provides extensive demographic reports to their sellers, allowing them to understand the age, gender, and household income of their customers for better targeting and personalized marketing efforts.
Select the “Demographics” option under the Consumer Behaviors Dashboard to view your customer demographics.
Knowing what the Amazon Brand Analytics tool can provide and do for your business won’t be enough. Of course, you must also learn how to use the add-on feature. It’s worth noting that Brand Analytics can only be used by brands that are officially registered under Amazon Brand Registry.
Below is a checklist of requirements and features to use the Brand Analytics add-on feature.
With the endless benefits Brand Analytics can bring, it’s difficult to see where the tool can lack. However, as with everything else, Brand Analytics has its own limitations, which include:
Source: Photo by Tima Miroshnichenko from Pexels.com
Still, these limitations shouldn’t dampen your enthusiasm to use Brand Analytics for your Amazon journey. After all, with how fast technology and the internet have evolved in recent years, we wouldn’t be surprised if Amazon began adapting these features.
To end on a more positive note, we have listed a couple of trends and features that we predict will soon worm their way into Brand Analytics’ system.
As technology evolves, Amazon may incorporate more sophisticated predictive analytics capabilities into Brand Analytics, which may include forecasting demand, sales trends, customer behavior, and the potential success of new products with greater accuracy, enabling sellers to adjust their strategies proactively.
With better predictive modeling, you could make more informed decisions on product offerings, pricing, and marketing strategies to stay on top of your game.
With the rise of voice-activated devices and smart assistants, optimizing product listings for voice search could become a significant trend. Brand Analytics might offer tools insights into voice search queries and user behavior and tools targeting voice search optimization.
This possible feature could help your brand better understand and capitalize on voice search trends, ensuring your products are easily discoverable for customers using voice-activated devices like Amazon Echo.
With Amazon's global reach, the e-commerce giant may provide more extensive global market analysis, including data on customer preferences, competitive landscapes, and market trends in different countries.
A thorough analysis of global market trends may allow sellers to tailor their strategies and products to different regions and cultures for international success.
In recent years, Amazon has slowly started adopting augmented reality (AR) in its platform to improve its customers’ online shopping experiences. For this reason, it won’t come as a surprise if Brand Analytics begins providing insights relating to AR shopping.
AR insights may inform sellers about customer interactions with products in an augmented reality environment, helping them optimize product listings and AR experiences to boost customer engagement and sales.
Brand Analytics is a valuable resource for sellers to better understand their target audience and make informed decisions to grow their brand and business. While the tool has drawbacks, the number of possible upcoming features we’ve listed shows that the future is bright for users of this tool.
Data analysis is challenging, but with the right tools and people to guide you, you can harness its potential to propel your brand into success. Consider working with Amazon experts from Seller Interactive.
Let our experts guide you through your Amazon journey by contacting us now!
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