The more data that you have about your customers and their buying and search behaviour, the easier it becomes for your business to succeed on Amazon.
Amazon Brand Analytics, formerly known as Amazon Retail Analytics, provides retailers with a wealth of information about their customers and competitors. This article provides information about the data that Amazon provides and how best to use it.
What is Amazon Analytics, or Amazon Brand Analytics?
In the summer of 2018, Amazon introduced a new feature called Amazon Brand Analytics. This feature provides brand owners with insights into key market data. This includes information regarding customer behaviour and popular search terms. You can also learn more about how your competitors are performing and gain valuable insights into your advertising campaigns and sales figures.
Brand Analytics has been available free of charge since 2020, but only for registered sellers. If you have not yet registered as a seller, you will need to do so in order to access these analytics reports. Once you have registered and logged in to Amazon Seller Central, click on “Analytics” under “Report”.
Amazon Search Term
A search term or keyword is a word or phrase users enter into the search box. They do this to find a specific product.
As a retailer, you can include these search terms in your product title, product details and product description. This makes it easier for your target market to find you in Amazon’s search results.
The Amazon report provides keywords that customers frequently use to search for a product. You will also find the numerical rank of the keyword, with the estimated search volume and the top three products for each keyword that customers click on. You can also search for a specific Amazon Standard Identification Number (ASIN) to find your competitors’ most important search terms.
The analysis of search terms is useful for the following purposes:
- You receive important information about your market share. You can find out how high your conversion rate is compared to your competitors for a certain search term, for example.
- You gain insights into the click-through rate for certain keywords: You see how often your products and those of your competitors are clicked on. This tells you whether your titles, product details and product descriptions need to be optimised in order to increase click-through rates.
- Product research: you can download a list of the top 250,000 search terms or filter by a specific niche. You will find keywords with a very high search volume and thus gain advantages over your competitors.
Note: the search volumes are estimates that you should cross-check with other tools before making important business decisions. Proceed with caution and care if there are significant discrepancies in the search volumes provided by different tools.
Amazon Market basket analysis
The Amazon market basket analysis enables you to find out which other items customers have bought together with your product. You can use this data for product bundles and other cross-marketing, or cross-selling, opportunities. You can also gather ideas for creating useful complementary items that you can add to your range.
Item comparison report
The item comparison report provides information about the five items that customers viewed most frequently together with your product. This data is useful, as you can use the ASINs of these items for product targeting campaigns. Corresponding ads appear on the product pages and in search results.
In contrast to other datasets, you can only examine your own products, and not those products offered by your competitors. However, you can identify your direct competitors’ products and find out who your direct competitors are.
Take a closer look at these other retailers and examine their product pages. You may receive useful information that you can use to enhance your product listings and improve your advertising and marketing campaign performance.
You can also research which five items customers bought after seeing your product, and this can also be used to identify your direct competitors.
If you know which brands and products are taking potential sales away from you, you can expand or improve your product line and adjust your marketing strategy accordingly.
Amazon’s demographic characteristics
The demographic data that Amazon provides includes the following characteristics of your buyers:
- Age range
- Estimated household income
- Education level
- Marital status
This information enables you to analyse the need for, and the success of, targeted marketing campaigns. You can then adjust your marketing strategy accordingly. Furthermore, this data will help you with pricing and product portfolio decisions. You can also increase the effectiveness of your keyword targeting.
Caution: Always take the demographic data with a pinch of salt. A household may share the same Amazon account and use it to complete orders.
Repeat purchase behaviour report
This report shows you if customers have ordered more than one of your products. You can also see the percentage of customers who have made repeat purchases over a period of time. You can also see the total revenue generated by repeat customers.
You can use this data to determine whether your products and marketing campaigns are attracting one-time or repeat customers. Depending on the sales goals that you have set for your items, you can adjust your product marketing campaigns accordingly.
Even customer reviews can be monitored with Amazon Brand Analytics. You can view the number of customer reviews, as well as average ratings. You can identify the reasons for increases or decreases in sales.
Negative feedback can be used to improve your product or customer service. You can offer your help on negative reviews and work together to resolve the issues that your customers may have encountered with your products.
This report provides important data about your turnover and sales, i.e. how much money you have earned and how many units of your product you have sold. With the appropriate filters, you can work out the following key figures:
- Customer visits to your product detail page, and how this compares to the previous period
- Conversion rate: the percentage of customers who view your product and go on to make a purchase
- The number of free replacements that are delivered to customers
- RepOOS (Replenishable Out of Stock): the number of sales that were lost because a product was out of stock when it should have been in stock
- The number of goods that are returned by customers
With this data, you can identify which of your sales strategies are most successful and find out what you still need to optimise.
Sales performance trends
This is a graphical representation of a number of key sales performance indicators over a specific time period.
This report shows you the geographic areas in which your merchandise is most successful, as well as the areas in which your items are ordered less frequently.
If you want to know which products contribute to the financial success of your brand and your company, the Net PPM or Net Profit Margin report can help you. It provides the net profit after various costs, e.g. the returns fees, are subtracted.
This report shows you the page views that each of your product pages has received and their conversion rates. You are also shown how your performance has changed compared to previous periods This allows you to see if your marketing efforts and strategies have had a tangible impact on your visibility and conversion rate and identify areas where there is still room for improvement.
This tool allows you to view the orders that were placed in the last 24 hours.
Forecasting and inventory planning
This report helps you to avoid stock shortages. You will receive information at an early stage with regard to the number of products that you need to manufacture in order to prevent supply shortages. Unhappy customers who have to wait a long time for an order can quickly turn to another supplier.
The stock status informs you of whether your items are in stock. Availability is not only important to satisfy customer demand; it also influences the search algorithm.