Advanced Brand Analytics: How Data Becomes a Competitive Advantage
Strategic Brand Analytics, Search Query Performance, and Customer Demographics Analytics to Enhance Decision Making.
Why Data is the Real Advantage
It is clear that Amazon is no longer just a convenient online store. It is a highly dynamic marketplace with millions of products, brands and customers. There is more to succeeding as a seller than just listing quality products. Intelligent decisions based on factual data are a requirement. This is where Advanced Brand Analytics is very useful.
Advanced Brand Analytics tools are hinges on Brand Analytics, Search Query Performance and Customer Demographics. Together these tools offer tremendous value to a seller who is registered to a brand and provides meaningful insights on customer behaviors, market demands, and competition.
This article is aimed at helping you use these tools for more intelligent decision making. We will provide you with actionable strategies and examples, as well as discuss common pitfalls to avoid. This way you will leave with the ability to use data as a competitive advantage.
What is Advanced Brand Analytics?
Brand Analytics provides detailed reports and dashboards for globally available sellers. It provides insights into:
What searches look like
What is the customer’s path to purchase?
What are the alternatives the customer is choosing?
What is the customer’s demographic profile?
Why It Matters
Analytics plays a crucial role in sophisticated selling. There are sellers who do not use data. A practical example is the selling of headsets with laptops. Sellers can create laptop and headphone bundles. Sellers can use uncompelling listings to raise their company’s earnings using profits.
Example:
Sales Analytics showing purchases of wireless earbuds led a fitness tracker seller to create a kit for both. Sales with the bundle went up 35% in the first 3 months.
Amazon’s Global Expansion and the Role of Analytics
Amazon presently has more than 20 available marketplaces. Sellers are encouraged to extend their business. Expansion to a new country requires a lot of knowledge to avoid risks.
How Analytics helps with Expansion
Search Trends by Location enables you to see search volume for specific terms in different countries like Germany, Japan, and the UK.
Demographics by Country – Understand which age group dominates where.
Competition Gaps – Identify product types which have the least sellers.
Example:
Selling organic tea, an American entrepreneur spent time on Brand Analytics prior to the launching in Germany. He/she found out the term “bio tee” had high search volume and not many competitors compared to back home. Thus, he/she entered Germany and managed to capture the market in record time.
Takeaway:
With the analytics, the risk and effort needed to expand Amazon globally has been drastically reduced. You make tailored product, pricing, and strategy decisions for every market.
Search Query Performance – Your Visibility Tool
SQP searches for and shows the performance of your product for which you want to optimize. They see how often customers listed your product and how many purchases were made.
Key Metrics in SQP
Impressions: How often your product shows in search.
Click-Through Rate (CTR): The amount of people who click through to your product out of the total shoppers.
Conversion Rate: The amount of people who bought the product out of the total clicks on your advertisement.
Search volume: The total number of people who search for a particular word or phrase.
Why It Matters
SQP allows you to see your weaknesses. Gaps in clicks and impressions means your product images and titles need improvement; in the case of the contrary, your product price and reviews are in need of assistance.
As an example, a seller of chairs noticed “gaming chairs” had some high impressions but very low clicks. They changed the main image to show a gamer set up. CTR doubled in 2 weeks.
Customer Demographics Identifying Buyers
As part of the Enhanced Brand Analytics, Demographics helps you understand who buys your products and define your marketing strategies.
Available Demographic Data
Age
Gender
Income
Education
Location
Why It is Useful
If 70% of your customers are women in the age range of 25-35, you can create special bundles and promo campaigns with ads and images fulfilling their needs.
Example
40% of the skincare seller’s buyers are men aged 30-40. The seller adjusted the ads to men and developed a new product bundle focused on men. This resulted in a 40% increase in revenue in the following 3 months.
Using Brand Analytics, Demographics and SQP Together
This is an example of how to make the best of Brand Analytics, SQP, and Demographics.
Start with the Search Data
What customers are typing in
Check the Profiles of the Buyers
Align the searches to the demographics of the buyers.
Identify the Gaps
What products do people have their gaze set on, but do not actually purchase?
Shift the Strategy
Modify the listings, the pricing, or create bundles together.
Measure the Outcomes
Employ SQP to see if there is any change.
Case Study Example:
A shoe company wanted to develop throughout Europe.
Brand Analytics said the term “running shoes women” was frequently searched in the UK.
The survey suggested ladies aged 25 to 34 years were the target consumers.
The SQP analysis provided a low conversion rate (the CTR was low).
They altered the advertising images to “lifestyle photo” style highlighting young females. They saw the CTR soar to three times higher, and the revenues climbed at a fast rate.
What Sellers Do Wrong
Ignoring Data: Sometimes, sellers just guess.
Setting the Overload Metric: It is possible to count too much and still motionless (inertia).
Pursuing Competitors: They go after the bigger companies instead of finding new opportunities.
Best Practices for Using Advanced Brand Analytics
Brand Analytics should be used on a weekly basis, not once a year.
Divide the data by region to optimize for global growth.
Use age and gender to enhance advertising.
Change the listings based on SQP analytics.
Utilize Market Basket Analysis to create bundles.
FAQs
Q1. What is Amazon Brand Analytics?
For a seller registered in a brand, Amazon Brand Analytics is a free tool that shows the means of finding and buying orders for the center of the search.
Q2. Who can access Brand Analytics?
Access to Brand Analytics is limited to sellers enrolled in the Amazon Brand Registry.
Q3. How often should I check Search Query Performance?
A search should be done at least once a week.
Q4. How do demographics help improve ads?
They help you focus on the correct audience with the right visuals and copy.
Q5. How do analytics help with Amazon’s expansion?
Analytics show the demand and buyer profiles and the regional gaps for competitors.
Q6. Is it possible for small sellers to make use of analytics?
Yes. Even small sellers can identify niche opportunities.
Q7. What should I do if my click-through rate is below average?
Adjust your title, price, and or primary image.
Q8. What is Market Basket Analysis?
It is the analysis of products that are frequently bought together by consumers.
Q9. How do I know if my price is appropriate?
Check alternate purchase behavior. If consumers are more willing to purchase from competitors, price might be the set.
Q10. Is it possible for analytics to predict trends?
Not really, however, increased search volume can indicate demand that is likely to arise.
Conclusion
Advanced Brand Analytics is a set of powerful tools. It allows sellers to understand buyer wants, purchasing behavior, and buyer persona. With the help of Brand Analytics, Search Query Performance, and Demographics, sellers are able to work with informed data rather than guessing.
Sellers who are clever use this information to optimally customize their listings, reach the appropriate demographics, and broaden their market. This is also the case for Amazon; with the help of analytics, sellers are capable of more straightforward international expansion.
The sellers who come out on top tomorrow will not be the ones with the lowest prices, but the ones with the most valuable knowledge.
