How Analytics Can Help You Grow Your Amazon BusinessApril 21, 2021 No Comments
Featured article by Ryan Flannagan, Founder & CEO of NuancedMedia
Amazon is a great tool that helps businesses, both small and large, to grow. By listing products on Amazon, businesses get access to the millions of users that are already on the platform, and they are more likely to be trusted by those users, which means they are more likely to make a sale. Conversion rates on Amazon are much higher than on other platforms.
Amazon is also a competitive market in its own right, and it’s important that you make good use of analytics if you want your business to stay ahead.
Why are analytics so important?
Analytics are essential if you want to get insight into the way that your potential customers are shopping, which is important if you want to promote to them. Amazon marketing agency Nuanced Media is an expert in understanding Amazon analytics and applying insights from them to your marketing campaigns. This means that you maximize your ROI (return on investment).
Using analytics can give you information on almost anything. For example, you might be able to see from analytics that a certain product that you listed sold well among people aged twenty and twenty-five. You could use this insight to carry out more research on what people in that age bracket are buying and tailor future listings towards them.
More than providing insight on your own sales, analytics can help you to see what people are buying more generally so that you can start to see trends and patterns about what items are popular amongst particular groups at particular times.
What data does Amazon provide?
Amazon has released its own free analytics tool, which its merchants can use to better understand their Amazon commerce businesses.
If you are a third-party marketplace seller who is brand registered, you can access Amazon Brand Analytics. This platform will allow you to:
- See which keyword searches are being used by Amazon customers. This information can be used to tailor your product title and descriptions to better fit with searches, and therefore be seen by more customers.
- Compare the popularity of keywords with other related ones. This allows you to make better keyword choices.
- See which products are most often clicked on for a certain search term. This means that you can see which types of products are selling well, and compare them with your own for insights.
- What percentage of total clicks the ‘most clicked’ items have.
How can you make it work for you?
If you are selling a large number of items on Amazon, using the dashboard to manually check the analytics on each one probably isn’t a great use of your time. Instead, it’s a good idea to see how you can integrate your own analytics software with the Amazon platform.
This will allow you to run your own custom reports and analysis, and even use AI to start spotting trends. To do this, you will need to make use of Amazon MWS if you want to be able to analyze data at a transactional level.
About the Author
Ryan Flannagan is the Founder & CEO of NuancedMedia, an international eCommerce marketing agency specializing in Amazon. Nuanced has sold $100s of Millions online and Ryan has built a client base representing a total revenue of over 1.5 billion dollars. Ryan is a published author and has been quoted by a number of media sources such as BuzzFeed and Modern Retail. To connect with Ryan, check out @Ryanflannagan on Twitter or via LinkedinSOCIAL BUSINESS