Online business is a new trend. Many businessmen join with the online shopping applications for increasing their sales. Online shopping applications help businessmen to increase their profits and advertise their products. Amazon is one of the famous online shopping applications. A large number of brands are linked with Amazon for selling their products. People on a large number daily do the transaction with Amazon. Amazon has created a strong image in front of its customers. The services that Amazon offers are great.
Businessmen should find out whether the product they are selling is profitable or not. You should get all the necessary data that is crucial to find out the success of your product. People often get confused about how to use this collected data. Amazon has helped businessmen in this by providing an analytical tool, popularly known as Amazon brand analytics. Amazon attributionis a tool that can be used for analytics measures and advertising. Let’s have an insight view regarding Amazon brand analytics. It is the crucial tool of Amazon that helps many people.
Amazon brand analytics provides you with the performance of your product, competitors’ behaviour, and consumer search behaviour. There are four primary types of reports given by brand analytics. Let’s have a look at every report carefully.
- Amazon Search Terms: – This is one of the most useful and helpful reports considered in brand analytics. You may get to know a lot about your product and competitor from it. It tells you the numerical rank of the product that you have searched. You even get to know the top three items from search terms of that product. You can easily analyse the market share of the product. It will help you to find out the market share of your competitor also. You will also get an insight into how many times customers checked your competitor’s product. You can use a keyword to search for your product that doesn’t have many competitors. There are a few points that are constraints on Amazon search types. You can only find the top three searches related to your product. It will only show your rank.
- Amazon Basket Analysis:- Customers purchase a lot of other items at one time. It is not for the ones who have limited sales. Amazon is providing you with the data that is based on customers who are purchasing the same product along with yours for quite some time. it can be used to increase your sales. You can provide complementary goods along with your product. For getting an accurate Amazon basket analysis, you should have a good number of sales. You can’t find accurate data with fewer sales volumes.
- Comparison and Alternate Purchase:- Customers compare their products before purchasing. You have to provide better quality and price than your competitor. Comparing the products is one thing that customers do a lot before purchasing any item. This report of brand analytics provides you with the name of other products that customers searched along with yours. You can find out your real competitors through it. Though this data is not of much use still people find it a great way. This only provides you with other items seen rather than their value.
- Demographics:- This is a useful report that is given by Amazon. You can check out the demographic details of your customers which includes name, gender, education, and many other things. This can help you to find out your target audience. If you don’t have a website then this information is of great use. It provides reliable data about your target audience. There is a loophole in this report. Sometimes the product is purchased from someone’s other account but used by another person.
These are the reports that are given by brand analytics. It has its own positive and negative points. But overall this helps a lot in increasing the sales and product value. Five metrics can be tracked in Amazon brand analytics. Let’s have a look at each of them.
- Sales Diagnostic:- It helps you to look after your sales revenue. At every stage, you have revenue and cost. You look after your shipping revenue and other things within a time frame. Amazon fixes a particular rate for encouraging brands.
- Traffic Diagnostic:- It finds out the traffic of your product. You can grow your business by finding out traffic diagnostic. It helps you in different ways.
- Pre-orders:- You should offer the feature of pre-orders on your newly launched products. This will help you to get a quick response from the customers. It will increase the traffic of your product which can lead to the purchase of the product. The option of pre-order is crucial for a new product.
- Forecast and Inventory Planning:- This is the most frustrating report given by amazon. People often get confused with this report. If Amazon demands more products from you but still it is not showing any sales. This concept becomes confusing.
- Customer Behaviour:- This is the most crucial for every seller. You can find out the consumer behaviour and what type of product they demand. You can find the market share of your competitor’s product. You should create advertising in such a way that attracts traffic toward your product.
These are the few metrics in Amazon brand analytics. Let’s have a quick look at a few benefits of brand analytics.
- Brand analytics provides you with some crucial information. You can use this information in increasing your sales and market share. Amazon provides you with this crucial information for free. If you search from other sources then you have to pay an amount for this information.
- It’s crucial to have the right marketing strategies for a successful business. This helps you in gaining good marketing strategies. You can change your marketing strategies by keeping in view the market, competitors, and customers reactions. You will get a clear idea about your loopholes and you can work on them.
- The behaviour of the target audience is one most important parts. You can find out what your target audience demands.
This is the basic information that is crucial for studying Amazon brand analytics. All the data collected is free. For Amazon brand analytics solutions, you can contact SarasAnalytics.