The latest update on Amazon Brand Analytics
Sellers have accessibility to Amazon Brand Analytics Premium (previously referred to as Amazon Retail Analytics) as an add-on suite of extra insights through Vendor Central. In this piece, we’ll go over recent platform updates as well as five critical KPIs your company should be measuring in 2022 and beyond.
What is Amazon Brand Analytics, and how does it work?
According to Amazon, “Brand Analytics is a system that provides significant insights to enable Brand Owners to make informed, strategic decisions about their brand portfolio and marketing/advertising activities.”
The ABA allows businesses to see:
• Keywords
• The “popularity” of a keyword in comparison to other keywords in their database.
• Click and conversion share (i.e., the percentage of clicks received by the “most clicked” ASINs for a particular search query)
• The Demographics report shows Brand Owners the age, family income, education, gender, and marital status of their Amazon customers.
• The Item Comparison report displays the top 5 products most frequently viewed on the same day as the Brand Owner’s products and the percentage of time each product was considered on the same day as the Brand Owner’s products within the reporting period chosen by the user.
Amazon Brand Analytics (Updates for 2020 and 2021)
While Amazon Brand Analytics has undergone various changes in 2020 and beyond, it is vital to assess these changes and their influence on your ability to analyze your business.
Amazon Brand Analytics is now available for no cost
The most significant update to Amazon Brand Analytics in 2020 was that it became accessible for brand owners. The only stipulation is that the business must be certified with Brand Registry to avoid being charged for this reporting.
The Amazon Brand Registry is a mechanism where companies can register their brands and see how they’re selling on Amazon’s various marketplaces. The Amazon Brand Registry assists brand owners in preventing unlicensed merchants from selling their products. This role is supported by a different team from chronic case management.
Better data and analysis features are available with ABA
Another significant development for Amazon Brand Analytics in terms of data availability is Traffic Diagnostic reporting. Sellers can now track the number of Glance Views (also known as traffic) that transpired over a specific period. When you combine that with the ability to monitor the actual conversion rate, organizations can track overall performance regarding how much traffic comes to your detail pages and what proportion of that traffic converts to purchases.
Amazon Brand Analytics Metrics You Should Be Tracking:
1. Sales Diagnostic
This enables brands to examine performance over time at the level of ordered income, shipped earnings, or shipped cogs (cost). It also includes the crucial metric of Lost Buy Box Due to Price, which is vital if third parties sell your product.
2. Traffic Diagnostic
In addition to the data provided above, the Fast Track Glance View Rate displays the fraction of your stock that is eligible for Prime shipping when a glance view is performed.
3. Pre-Orders
If you are providing merchandise for pre-order, this analysis will provide you with immediate feedback on how well your new product is being received. If you haven’t tried pre-order yet, we recommend that you do so because it will provide immediate feedback on your performance and generate traffic that will naturally convert into purchase orders.
4. Forecast and Inventory Planning
For brands, this report is undoubtedly the most aggravating. The question is always asked: why am I not getting a buy order for 100 units if Amazon shows a requirement in the forecast? Amazon considers the following factors:
• Demand is not categorized for you at the ASIN level. It considers all traffic, irrespective of the deal on the detail page, and displays the entire demand as a result.
• The requirement is exclusive of what Amazon already has on hand, so if they say they need 100 units but only have 50, expect a purchase request for 50.
• Amazon has a list of critical ASIN/items they will order over the estimated needs to have a larger supply on hand and avoid missing sales.
• They will order from the most profitable source if the product is available from numerous suppliers.
• The algorithm considers previous sales, but it emphasizes continuous and increasing traffic as a predictor of future sales.
• Is the brand able to fill orders at or near 100% consistently?
5. Customer Behavior
Various Customer Behavior reports allow you to look at what customers are looking at or buying while browsing your products at the ASIN level. These statistics will allow you to understand where your competitors are gaining market share and build advertising strategies to entice customers back to your items.
Do you have any queries about Amazon Brand Analytics? Our crew is here to assist you; don’t hesitate to get in touch with us here!
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