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Amazon owns and generates insane amounts of data each second. What’s more, modern retail is ultimately data-driven. To put it simply, you can’t make right strategic decisions if you have no data and analytical insights extracted from it. In response to internal data stealing and reselling attempts by Amazon employees, the marketplace has developed an Amazon Brand Analytics system intended to enrich brand owners with actionable insights on their sales and customer behavior. But is this in-build opportunity as helpful as it sounds? Let’s reveal its features and the practical applicability of the data you can get.
What Does Brand Analytics Mean on Amazon
Amazon Brand Analytics means an in-build analytical feature inside your Seller Central Account. As the name suggests, the opportunity to unlock data-driven insights is available only for Amazon Brand owners registered in a Brand Registry. Most Amazon sellers agree that using this feature can be effective. However, it doesn’t provide the big picture – the data sets you can track and analyze with its help are pretty limited.
As for essential data analysis opportunities, Amazon Brand Analytics allows for finding out the keywords relevancy and rankings, finding out which products the users have viewed and bought along with your ones, determining the share of unique customers, and repeated purchases made by the current ones.
Amazon Search Terms Report
Amazon sellers consider this brand analytics report on Amazon the most useful one. What does it show? It shows the popularity of a particular search query and the actual conversion share in your store. It also allows for searching for the keywords your competitors are using.
Experts recommend using this report in conjunction with other tools for Amazon keywords research since ABA doesn’t’ show the actual search volume. Instead, it shows search frequency rank. Still, the exact match between what buyers look for and what they actually buy is valuable. In addition, you can use this data for further Amazon retail analytics and product research.
As for choosing the relevant keywords for your product listing optimization, you can consider using Seller Sonar. It helps you spot the positions of the keywords used by the competitors according to the preset queries and also instantly notifies you if the search position changes.
Amazon Basket Analysis
Another feature of the Amazon brand analytics tool, paying attention to the market basket analysis. This is the report that shows what items the Amazon customers choose and buy along with your ones.
Indeed, the report is pretty insightful since it can uncover the actual needs of the customers and find out more about their purchasing behavior. There is also an opportunity for a brand owner to make better decisions about their products and recommend additional options that the customers can buy in a single store.
Item Comparison and Alternate Purchase Behavior
Item comparison as a part of Amazon brand analytics is like a recommendation engine turned upside down. It empowers brand owners with insight on what five products the customers have viewed along with their ones. This is one more useful point for further data analysis, especially if you combine it with the data from the previous report.
Make sure to compare the items from the basket analysis report (those actually bought) with the ones from the item comparison report (the viewed ones) and try to suggest what has driven the customers to purchase.
As for the purchase behavior, Amazon has prepared a dedicated report for owners to make better business decisions. It shows repeat purchase behavior and unique customers’ share.
As for the Amazon brand analytics demographic, this is the last report Amazon considers necessary for Amazon sellers. Customer demographics reflect the gender of your buyers, their age, solvency, marital status, and the volume of ordered items in your store.
So, how to use Amazon brand analytics demographic data? Since the Amazon brand analytics demographic analytics is pretty limited, the only way to use it is to consider and keep in mind this overall picture of your buyers’ persona when launching new marketing campaigns.
Most Amazon brand owners, especially those registered in the Amazon Brand Registry and taking advantage of the Amazon Brand Referral program, agree that buyer demographics should be more insightful. For example, the data generated by Facebook is much more actionable. At the same time, Lookalike Audiences are the real treasure for reaching out to potentially interested users and driving them to Amazon from Facebook.
How to Use Brand Analytics to Make Informed Strategic Decisions
- Keep the limitations in mind. The bitter truth is that Amazon isn’t going to share all the data it owns with the sellers. Instead, it uses it to remain feasible and attractive for both sellers and buyers, so you shouldn’t expect Amazon to provide you with the ultimate reports and insights. Amazon Brand Analytics is pretty limited, and there is almost no sense in using it alone.
- Use other tools. As the next step, consider using ABA data as a foundation for your further research. Use different tools for Amazon market analysis, pricing optimization, keywords research, user behavior tracking, and measuring your core metrics. For example, with the help of SageMailer, you can instantly monitor your users’ feedback and respond to critical reviews ASAP.
- Track your core metrics. Also, keep in mind that keeping track of your core metrics is your responsibility. Amazon isn’t going to do it for you. So, consider using dedicated sales management software along with inventory management tools. Ideally, these tools are better to be powered by artificial intelligence to generate custom reports tailored to your business needs.
- Develop a habit of competitor analysis. It is an evergreen practice that works on Amazon as well. Being a highly competitive environment, Amazon has a lot of data about your competitors to share with you. Still, to unlock it, you have to use a dedicated app that, for instance, can spot the keywords used by competitive stores and track their pricing.
Amazon Brand Analytics is pretty limited since having it is better than having nothing. Use these features inside Seller Central – at least, it is one of the few functions available for sellers free of charge. Also, consider using more advanced tools for Amazon business analysis. As one more practical option, keep an open eye on the ways to improve your Amazon presence, for example, by working with your customer feedback which is pretty valuable for your prospective leads at the consideration stage of the sales funnel.
SageMailer can keep you constantly updated on new, positive, negative, critical, and fake reviews so that you can respond to them asap and strengthen your online reputation.
From now on, use SageMailer for free for 30-days and make sure it drives actual benefits to your Amazon business!