Amazon is known for its ‘anti-competitive image’. The number one online selling platform had a habit of keeping important shopper data (such as bounce rates, customer profile data, and traffic sources) from its vendors. So, it’s quite a surprise when Amazon launched a free tool called Amazon Brand Analytics on February 2019. This tool contains data that are previously only available to merchants who pay a colossal $30,000 ARA (Amazon Retail Analytics). For the first time ever, the giant online marketplace decided to share user search data to its users for free. Online selling just became more exciting!
What is Amazon Brand Analytics?
Amazon Brand Analytics is a feature that contains important data that brand owners can use to make strategic advertising and marketing decisions. It contains key metrics that you can utilize to see how your product does vis-à-vis your competitors.
This feature is only available to brand owners. You need to provide documentations and register your business on Amazon Brand Registry to get access to this tool. You can find this analytics tool under the ‘reports tab’ in Amazon seller central. The data refreshes every 72 hours.
How to Use Brand Analytics?
This tool is more than just a dashboard. It is a data goldmine that brands can use to stay one step ahead of their fiercest competitors. It also helps you allocate your Amazon advertising fund wisely. Why? Because it shows you which keywords have the highest conversion rates and which ASINs or products have the most clicks for specific keywords.
Amazon brand analytics (ABA) is a total game changer. It has interesting data that have never been accessible to vendors before.
To access this dashboard, you need to log in to your Seller Central account and go to the reports tab. Go to ‘performance’ then, click on ‘brand analytics’. You need to either enter your product type or your product ASIN (Amazon standard identification number). For example, if you’re selling a garlic press, enter the keyword ‘garlic press’ and your product ASIN. Then, click on the search (magnifying glass) icon. Once you do that, you’ll find the following data:
This is the list of one million keywords or search terms that potential customers type on the Amazon search tab to find the product that you’re selling. For example, if you’re selling essential oils, you’ll most likely find the following keywords under the search term column:
2. Search Frequency Rank
You can use this data to determine the popularity of a search term or keyword at a specific period, say, a month or a week.
You can utilize this data to either increase or decrease your advertising bids for certain keywords.
Let’s say that you own a coffee brand called Marble Dreams French Ground Coffee. To decide which keyword to place your advertising bid on, look at the data below:
To get the best out of your Amazon ad, you must focus on the top 3 frequently used ‘search terms’ because these are the keywords that your potential customers use to find your product on Amazon.
3. Click Share
This is the number of times Amazon users clicked on a certain product after using a keyword divided by the number of times customers clicked on that link.
If you look at the data above, you’ll see that 55% of customers who typed the keyword ‘essential oil’ clicked on the product Mystery Essential Oil. But, take note that the data above is just an example and not an actual brand analytics data.
Click share percentage is a valuable data that you can use to determine how you’re doing vis-à-vis your competitors.
4. Conversion Share (CR)
This data is computed as the number of times customers bought a particular product after using a particular keyword divided by the number of times customers bought any item after searching that same keyword.
For example, let’s say that 20 people purchased essential oils after typing the keyword ‘aromatherapy’ and 5 of those bought Mystery EO. This means that Mystery EO’s conversion share is 25% (5 ÷ 25).
You can use this data to determine the top performing brands on certain keywords. This also helps you determine which keywords are driving your sales. This data point also helps you choose which search terms to advertise on.
5. Most Clicked ASINs
The Amazon brand analytics report includes the top 3 (tagged as #1, #2, #3) most clicked ASINs for a specific keyword. This data helps you determine customer preference.
For example, let’s say that Air Jordan, Nike Air Max, and Nike Air VaporMax got the most clicked rates for the keyword ‘sports shoes’. This means that customers prefer the brand Nike over other sports shoes brand.
The best thing about ABA is that it helps you identify which keywords are driving your sales. It also contains valuable data that you can use to boost your brand’s market share and dominance.
Why You Should Use Amazon Brand Analytics?
The competition is steep in most industries, so you must have access to your competitors’ data to increase your market share and establish your brand as an industry leader.
Amazon brand analytics is a data bank that allows you ‘spy’ on your competitors. It helps you identify the factors that are driving your biggest competitor’s sales.
Here’s a list of reasons why you should use Amazon Brand Analytics:
1. It’s free.
This dashboard contains information that costs an arm and a leg. So, now that you’re getting it for free, why not use it?
This analytics dashboard is still on its beta stage. But, it’s awesome and it contains data that you can’t find in other data banks.
2. ABA is a good keyword research tool.
This tool is not perfect yet, but it’s a great keyword research tool. The search frequency rank column helps you identify which keywords to target when optimizing your brand’s Amazon store.
3. It helps you develop fool-proof marketing and product development strategies.
Having access to competitor data can help you come up with a brilliant marketing strategy for your brand.
Let’s say that you own a backpack brand and you discovered that the keyword “45 L backpack” is the top keyword in your industry and the top three most clicked products are all from brand The North Face.
Here’s what you can do with this information:
You can increase your Amazon Ad Spend bid on the search term “45 L backpack”.
You can develop a 45 liter backpack line if you don’t have one.
You can strategically place the keyword in your Amazon store.
Check what The North Face is doing. You can study the design of their bags and the raw materials that they use. Check what works for them.
Copy the best marketing and product development strategies of the industry leader.
Check the market leader’s sales funnel. Click on their ads and even buy their products, so you’ll know what they’re doing right.
4. It helps you identify your target market’s purchasing behaviors.
Let’s say that you’re selling essential oils. When you looked at the brand analytics you found out that the top keyword is ‘essential oils for kids’. This tells you that most people who buy essential oils are parents.
So, what can you do with this information? Well, you can increase your ad spend bid on this search term. You can also curate your Amazon store in a way that it attracts parents, particularly moms.
You could also use light materials and market your products as ‘kid friendly’. You can also create product lines that address common health conditions among children, such as fever, cough, and colds.
5. It’s user friendly.
You do not need to be an analytics guru to use this tool. ABA is still at its early stage so it’s pretty simple and user-friendly. It’s something that you could easily play with.
6. It helps you get to know your products a little more.
This tool helps you identify the keywords that drive your sales, so you’ll know your products more closely. Let’s just say that you have an instant pot brand and most people who buy your product used the keyword “best instant pot”. This tells you that your product is perceived to be the best in the industry.
Amazon brand analytics is not yet a sophisticated keyword research tool. But, it contains valuable data that you can use to make sound business decisions. It’s a great tool that you can use to check and maybe emulate your competitors’ best practices.
If Brand Analytics is so Awesome, Why Is It Free?
As previously mentioned, the Amazon brand analytics dashboard contains data that are previously available only to sellers who pay a hefty annual Amazon Retail Analytics subscription. So, why is Amazon suddenly giving away this data for free?
Well, Amazon has earned huge revenues from advertising over the last few years and they want their profit to increase in the next years. This analytics tool is designed to encourage sellers to increase their Amazon advertising spending.
This analytics tool contains the best-converting keywords. This can push brands to increase their advertising budget for those keywords.
Final Thoughts on the New Brand Analytics
The Amazon brand analytics tool helps the online selling giant increase their advertising revenue. But, it also increases sellers acquire new customers by targeting the high-performing keywords. It creates an awesome win-win situation.