Exploring Amazon Brand Analytics: Elevating Your Business with Data-Driven Insights
Discover Amazon Brand Analytics: Your Key to Selling Smarter Online" Amazon Brand Analytics is like a superhero tool for brands selling on Amazon. It gives you reports and data to understand your customers, boost sales, and stand out. Learn how to unlock this powerful tool and use it to your advantage.
SELLING ON AMAZON
In the ever-evolving landscape of e-commerce, the quest for sustainable growth pivots on two fundamental elements: attracting customers and retaining their loyalty. To accomplish this dual feat, it's imperative to gain a profound understanding of customers' preferences, budget constraints, and interests. Enter Amazon's Brand Analytics tool, a game-changer in the realm of data-driven decision-making that empowers businesses to ascend to new heights in terms of sales and visibility.
Amazon's Brand Analytics: What Is It?
Amazon Brand Analytics is like a special tool that's only available to brands that sell on Amazon. It gives you a bunch of reports and numbers to help you make smart decisions and sell more stuff. With this tool, you can figure out how people shop online and use that to make your brand better.
Unlocking Access to Amazon Brand Analytics To embark on the data-driven journey facilitated by Amazon Brand Analytics, brands must meet specific criteria:
Brand Ownership: You must own the brand you wish to register.
Internal Brand Affiliation: Your association with the brand should be internal.
Brand Presence on Amazon: The brand in question should be available for sale on Amazon's marketplace.
Fulfilling these prerequisites is your ticket to gaining access to this invaluable tool. Registration involves a visit to Amazon Brand Registry, followed by a log-in to the Amazon Seller Central Dashboard. Clicking on "Brands" in the left Menu tab and selecting "Brand Analytics" from the dropdown menu will unveil the treasure trove of insights awaiting your exploration.
Amazon analytics offers six reports that correspond with each stage of the sales funnel. This data can then be used to inform decisions on everything from marketing to product positioning.
1. Search Catalog Performance Report
Purpose: Offers performance insights across the search shopping funnel.
Metrics: Includes impressions, clicks, click rate (CTR), cart adds, purchases, and conversion rate.
Reporting Options: Available on weekly, monthly, and quarterly intervals.he product views are limited to 10,000 ASINs at a time, with the metrics having a 24-hr attribution period.
2. Search Query Performance Report
Purpose: Analyzes the performance of top 1000 search queries leading customers to your brand.
Views: Brand view and ASIN view.
Metrics: Encompass total count, click rate, brand count, and brand share.
Reporting Range: Weekly to quarterly.
3. Repeat Purchase Behavior Report
Purpose: Offers insights into repeat purchases and customer retention patterns.
Metrics: Covers sales, units, repeat customers, change vs. prior period, and % share of total sales.
4. Demographics Report
Purpose: Reveals the demographic profile of your brand's customers on Amazon (currently available in the US marketplace).
Metrics: Includes sales, units, repeat customers, change vs. prior period, and % share of total sales.
5. Top Search Terms Report
Purpose: Uncovers the top search terms for products on Amazon.
Metrics: Highlights search frequency rank, click share, and conversion share.
Reporting Periods: Daily, weekly, monthly, and quarterly.
6. Market Basket Analysis Report
Purpose: This report shows you the top three ASINs frequently bought together with your product, uncovering interesting insights about your customers’ shopping behavior.
Reporting Periods: Weekly, monthly, and quarterly.
Leveraging Insights for Business Enhancement Amazon's reports extend beyond mere metric tracking; they are springboards for optimization.
Here are three strategies to maximize the potential of the insights at your disposal:
1. Set Goals with Amazon's Reports: Use the data to establish benchmarks for key metrics like sales by product category, keyword, and country. These benchmarks serve as the foundation for setting specific performance improvement goals.
2. Vary Your Reporting Intervals: Assess your reports on a monthly, quarterly, and yearly basis to detect both short-term fluctuations and long-term trends. This multifaceted analysis empowers informed decision-making.
3. Optimize Product Listings: Dive deep into specific products by searching for their ASINs. Analyze repeat purchases, alternative purchases, and demographics. This granular approach aids in refining targeting not only on Amazon but across your entire sales network.
In conclusion, Amazon's Brand Analytics tool emerges as an indispensable asset for brand owners, enabling them to unravel the complexities of customer behavior and competition. By harnessing these insights, brands can embark on a journey of data-driven growth, optimizing their presence on Amazon and beyond.
Adsify is an Amazon Ads Partner that has successfully collaborated with over 100 brands to help them grow their business profitably on Amazon through effective ad strategy, implementation, and technology.