How to Create Data Insights & Reporting for your Amazon seller account

Feb 7

By getting to know your customers on Amazon, you can increase conversions and increase sales. You will be able to tailor your product listings, services, and catalog to better meet their needs if you understand consumer behavior and patterns. For every Amazon seller, knowing a customer's buying patterns, behavior, and frequency is critical.

The retailer has developed a number of tools and programs to help its sellers to get deep insight into customer purchases and reports about their account activities. Its sellers have access to Amazon brand analytics, aka ABA, which gives them important insights for making informed decisions on their brands. Furthermore, Amazon has introduced the Amazon customer insights program that gathers information about customers' purchases. Without further ado, let's discuss all of these tools. If you need further guidance on data insights of your Amazon account or want PPC management contact us at Urtasker.

What is Amazon brand analytics?

From their seller center accounts, brand sellers can access Amazon Brand Analytics. It is one of Amazon's most useful and best features. It provides some incredible insights and has a lot of data.

This tool exclusively assists brands to increase their bids and ad budgets by showing which search terms/keywords are converting the best. This helps brands understand which ASINs are getting the most clicks for the keywords they are targeting, and encourages them to allocate more budget to these ASINs.

In Amazon's advertising segment, there is high profitability and rapid expansion. Thus, it is reasonable that Amazon gives advertisers the necessary data for creating a more targeted campaign and allocating more budget.

Let's explore this feature in detail to find out how it can help boost your sales.

Which data is provided by Amazon brand analytics?

The Brand Analytics feature is described by Amazon as providing insights into the Brand Owner's product portfolio and its marketing features.

Brands have access to the following information with ABA:

The keywords Amazon customers used to search for their products (based on what they searched for)
What is the "popularity" of a given keyword in relation to other keywords in the database? These keywords prove useful in Amazon product listing services, which aim to improve your product's visibility.
Share of clicks and conversions by customers
Based on their Amazon customers' demographics (in aggregate), Brand Owners are able to view the distribution of their Amazon customers based on their age, income, education, marital status, and gender.
In the Item Comparison report, you can see the top 5 products that were viewed the same day as those of the Brand Owner. Further, how many times each product of the Brand Owner is viewed at the given day.

Reporting and data features are improved with ABA.

New metrics for Amazon Brand Analytics include Traffic Diagnostics. For the first time, vendors will be able to see the number of Glance Views that occurred in a specified period. The ability to track conversion rates over time of both traffic and sales coming to your detail pages is now a reality, so brands are able to track performance over time.

Tracking these 5 metrics in Amazon Brand Analytics will improve your brand's performance

Sales Diagnostic. With this feature, brands can review performance relative to a specific timeframe at the level of orders, shipments, or costs. There is also the important metric of Lost Buy Boxes Due to Price, which is significant if your product is sold by third parties.
Pre-Orders. It will be useful if you are offering pre-order products, as it provides a quick assessment of how well your new product is doing. We recommend you consider pre-order if you haven't yet as it will let you know how the service is operating as well as build traffic, which will, in turn, lead to purchases.
Forecast and Inventory Planning. The report brands complain about the most is the forecast and inventory planning report. There is always the question, if Amazon forecasts a need for 100 units, why am I not receiving a purchase order for 100 units? According to Amazon, the following factors are taken into account:

The ASIN level of demand does not segment for you alone. Regardless of what is offered on the detail page, this calculation uses all traffic and calculates the total need accordingly.
As long as Amazon has already purchased 50 units, a purchase order for 50 should be issued if the demand says they need 100 units.

Customer Behavior. At the ASIN you can view several reports that show customer behavior that allows you to see what other products the customer is viewing or buying as they view your products. Using these reports will help you see which competitors take market share and develop advertising campaigns that drive traffic back towards your products.

Why is ABA useful to Amazon sellers

There are more Amazon sellers signing up ever since the online retailer became one of the world's most profitable retailers. Consequently, competition in most domains is becoming more fierce, and access to your competitors' data has become crucial. With this information you can build your brand and increase your market share.

As ABA is a versatile tool to "spy" on your competitors, it is worth using If you want to keep an eyes on your competitors, ABA is a good tool to use. The following are some of the benefits of using it:

There is no cost to use
You can take advantage of it when looking for keywords
Marketing strategies are made easier with it
Understanding the shopping behaviors of your target audience can help you develop your marketing strategy
It is extremely easy to use
You get a deeper understanding of your products

Amazon Insights Program

The Amazon Insights program enables sellers to design surveys for customers in order to gather information about their purchases. Using the opinions of Amazon users will let you develop, launch, and sell products more effectively. Responses to the survey are analyzed and aggregated to provide actionable insights for sellers.

Amazon provides three premade questions based on product knowledge, purchase behavior, and opinion. You can also include a specific question so that you receive the information you need. Ultimately, there is only one question and multiple responses are available. Respondents can select only one response from the choices presented.

Be sure to provide possible responses to each question. Be thoughtful when drafting your responses. There should never be a situation in which respondents are unable to decide between at least two answers. Making clear choices will give you better results and everyone will benefit.

Pricing of Amazon insights program

It is at this point we have pretty much explained everything as to why Amazon insights might be useful for your business. Nevertheless, in this case, I believe it is necessary to point out that this handy service comes with a hefty price tag. There is no public pricing information available from Amazon. Responses and the target respondent will determine how much you pay.

What Amazon insights can do for you

Sellers do use the service, despite the price tag, to get important feedback about their products. The difficulty of setting up a survey like Amazon is near impossible for sellers. You're always in sync with your target parameters thanks to Amazon's access to a massive amount of customer data. Without it, you wouldn't have such detailed information.

Since this information relates to specific products, it can be used to create detailed product pages with a strong conversion boost. Additionally, it can provide valuable insight into how consumers learn about your product. It is also a great tool for getting direct feedback before launching a product because you can gather information about unreleased/unlisted products.

Conclusion

Customers' data can be obtained using Amazon insights for sellers and brands. Discover what your target client is looking for in a product, and how he or she first discovers it. This is also true for Amazon brand analytics. Among the most important insights is that it provides insight into how Brand Owners should approach their product advertising and other activities.

If you are a new seller and have no idea how Amazon insights and Amazon brand analytics work, feel free to contact our experts at Urtasker. We provide Amazon PPC management services to promote your products and Amazon listing services as well to drive sales at your store.