Amazon Brand Analytics: The Definitive Guide
February 10, 2021
What if there was a way to use your sales to make more sales?
Thanks to Amazon Brand Analytics, Amazon sellers gain valuable insights into customers’ purchasing behaviors. The powerful suite of analytics tools gives you a platform to optimize your storefront by providing a bird’s-eye view of the marketplace. With this feature, a successful transaction is now much more than just a transaction. When used effectively, you could increase your revenue, lower expenses, and strengthen your brand positioning.
We’ll explore what Amazon Brand Analytics is and explain how you can leverage it to unlock your store’s potential.
What is Amazon Brand Analytics?
Previously known as Amazon Retail Analytics, Amazon Brand Analytics is an analytics dashboard that provides real-time data on how customers are engaging with your store. Brand owners can see reports to help with product research and understand which particular search terms are trending so you can adapt your growth strategy.
It’s available to all Amazon sellers registered on Amazon Brand Registry 2.0.
How to Get Started With Brand Analytics
The Amazon Brand Analytics feature appears automatically after you sign up for the Amazon Brand Registry program.
You can access the dashboard in your Seller Central account under the Reports tab.
Understanding the Reports
Reports in Amazon Brand Analytics show how customers engage with your Amazon storefront and are usually available within 72 hours of a sales closing.
To get the most out of this virtual Swiss army knife, you’ll need to familiarize yourself with the different reports and understand what they mean so you can identify how to improve your brand.
To understand how these reports can help you increase sales, we’ve described each section and explained what their data points represent.
Amazon Search Terms
Amazon sellers can see which search terms were used the most during certain periods of time and the top three products that were clicked on from these searches. The rankings are refreshed on a weekly basis.
You can perform keyword research or analyze the search terms report to see which keywords rank high for your top-selling ASINs. It’s helpful to organize search terms by their Search Frequency Rank as a rough measure of popularity.
The tool is quite basic compared to keyword-specific external tools like Helium10 and Jungle Scout but is useful as a starting point for search term analysis.
Repeat Purchase Behaviour
Reports in this section compare products bought multiple times by the same customers and the number of orders placed by new customers.
Item Comparison
You can see the five most-viewed products in your niche and the share of view time your products had in that time period. The report has a breakdown of conversion rate and click share for all sold ASINs in a given time period.
Alternate Purchase
The alternative purchase report reveals which products customers bought instead of yours when they viewed both on the same day.
This data can be used as an extension of the Item Comparison report to see if top-selling products are preferred over yours or if you have unexpected competition in lesser-known brands.
Market Basket Analysis
While the Alternate Purchase report shows which products were bought instead of yours, the Market Basket Analysis shows products that were bought in addition to your brand’s ASINs on the same day.
The report indicates which products would do well when sold in bundles and analyses all products on the market, not just your brand.
Demographics
This handy section gives valuable insights into who your customers are. You can see customer demographics by age, education, gender, household income, and marital status. For more granular detail, you can see customer demographics for specific ASINs.
You may notice that the report doesn’t align with your total sales. Only products that are brand registered and have sales from at least 100 unique customers will be displayed. Sometimes you’ll see “Information not available” for certain metrics if customers haven’t completed their profiles. At the time of writing, the Demographics report is only available for Amazon US sellers.
How to Use the Data to Boost Your Brand
With Amazon Brand Analytics, Amazon sellers can understand their brand positioning better based on sales performance and customer purchasing behavior.
Find Out More About Your Best Customers
Analyzing a combination of reports improves your ability to appeal to your target audience and increases the likelihood of converting leads into sales.
Many marketers create buyer personas so a business can understand who their ideal customer is. The Demographics report can help you identify these personas so you can fine-tune your marketing strategy and target your target audience.
To see which products your ideal customer loves, keep an eye on Repeat Purchase Behavior.
With FBA businesses, a clearly defined target audience is key in product-market fit. Once you’ve identified who your best customers are, it’ll be much easier to restructure your marketing campaigns to appeal to your target audience. In turn, future outreach or paid advertising will need minimal effort to optimize so you can focus on expanding your business in different ways.
Optimize Your Listing Page and PPC Ads
While Demographics helps you understand your ideal customer’s background, Amazon Search Terms helps you understand the customer’s intent and why they’re looking for a product. Factor in the most popular search terms and compare your product listing copy to see if it provides the same benefits these customers are looking for.
Use the search terms feature to find and analyze keywords. Optimize your product listing page for Amazon SEO to increase your brand’s visibility through organic search. Be sure to update your copy and identify any issues in your title and main image.
In addition, improving your traffic diversity strengthens your FBA business’s defensibility since it isn’t reliant on just one source of traffic.
Many Amazon sellers only use PPC ad campaigns to direct customers to the storefront. Over time, your optimized product listings will unlock a cost-effective traffic source that may outperform your PPC campaigns in terms of conversion rates. As SEO takes time to take effect, we recommend that you update your listings sooner than later.
Find New Products
Adding new products to your line that are in demand is a great way to ramp up your monthly recurring revenue.
The Market Basket Analysis will show what other people are buying with your products or similar products in the same sub-category. You can use this report for inspiration to create related products you can add to your store.
There’s an opportunity to lower your expenses if you use the same supplier to manufacture new products. Increasing your total order volume from your supplier gives you room to ask for lower rates, so it’s definitely worth asking if the manufacturing cost can be renegotiated.
Discover New Selling Opportunities
Combining complementary products into Amazon bundles is a smart way to start cross-selling and potentially significantly increase your revenue.
You can increase the sales volume of less popular products as well as your minimum order volume. Keep in mind that creating Amazon bundles isn’t a walk in the park; there are several regulations you need to satisfy when creating listings for bundles to successfully appear in your store.
Although it takes more effort on your part to include bundles as part of your service, it could be the X factor that differentiates your brand from competitors. If your bundles generate steady sales, you have a higher chance of winning the Buy Box and gaining a competitive edge over your competitors through increased visibility.
Defeat Your Competitors
In order to surpass and generate more sales than your competitors, you’ll need to see where they are selling.
The Item Comparison and Alternate Purchase views can help you find your competitors so you can build PPC campaigns targeting relevant keywords. Consider using reverse ASIN tools to see what your competitors are targeting or ranking for to streamline your paid advertising campaigns.
Once you’ve found their listings, identify what their unique selling point is to position your product as a better choice in your own listing copy. To hone in on your target audience’s pain points and express how your product is better than your competitors, you’ll need to have a solid understanding of your buyer personas.
Once you’ve built momentum in creating a differentiated brand that’s known for a great value product and excellent customer service, you could look to earn the Amazon Choice badge. This badge tells first-time customers who are visiting the sub-category on Amazon that your products are recommended by Amazon themselves as trusted products.
What is the Brand Dashboard?
The Brand Dashboard is an analytics tool that provides another perspective on your products’ performances.
You can find this dashboard from the “Performance” dropdown.
From here, you can see which products have fewer than five reviews, have an average rating of 3 stars or less, and need A+ content.
While adding more products to your FBA store can generate revenue, it’s important that you don’t have too many active listings if they need a lot of time to maintain. Furthermore, adding products that don’t contribute a significant amount of revenue to the store could be hindering your business’s growth rather than encouraging it.
The Brand Dashboard is a helpful tool that shows you which products are having the impact you expected. If certain products aren’t producing the ROI you were hoping for, consider delisting them to focus more on strong-performing ASINs.
Grow your FBA Store by Digging Into the Data
Ecommerce entrepreneurs experiment with their marketing strategies to see which products are popular, with sales being the conventional measure of popularity.
With Amazon Brand Analytics, FBA sellers have a competitive advantage over other sellers as they can see more intimate information about their customers’ behaviors. From there, your store optimizations and overall strategy can be tweaked to improve your brand’s positioning.
Once you’ve registered to Amazon Brand Registry and have access to analytics, you can start making smart choices on which products to start promoting with certain search terms to increase the chance of a sale going through. Analyzing reports like the Market Basket Analysis can uncover new opportunities to add more products, as well as bundling complementary items together to increase sales even further.
Learning how to use Amazon Brand Analytics to improve your FBA store also helps you prepare your business for sale. Buyers are willing to pay a fair price for a well-oiled machine with streamlined operations, a diversified product range with a product-market fit, and excellent branding.
Even if you have no intention to sell, you’re taking proactive steps to improve your business, which will strengthen your FBA store’s brand and hopefully increase your sales. If you’re curious about how much your business is worth, try using our free valuation tool. In a few minutes, you’ll get a ballpark figure of how much you could exit your business for and understand what its strengths are.
In the meantime, snoop around Amazon Brand Analytics to start making each sale even more valuable for future sales.
