With the rapid growth of Amazon, brand managers and buyers are searching for brand analytics tools to support the success of their brands on Amazon. In this post we are going to put forward a 2023 roadmap for all important features and new tools being developed in Amazon Brand analytics.
What is Amazon Brand analytics?
The Amazon Brand Analytics Tool is a new tool that allows you to analyze your brand’s performance on Amazon. It also provides insights into your rivals and other brands in your category.
You can access the tool by clicking on the ‘Analytics‘ button in the menu bar at the top of Amazon Seller Central.
It is very useful for the sellers to know about the customers need and demands. In order to achieve the target, sellers have to start from basic. They have to be more focused on customer’s engagement level and it should help them in bringing out a suitable tactic that helps boost their sales and grow their business.
Here are some of the features available in this tool:
Brand Performance
This section provides information about your product’s sales performance relative to other brands in your category. You can compare your brand’s performance over time as well as compare it with other brands in the same category. The graphs show how many orders each seller has received, how much revenue each seller has generated and how many products have been sold in total during each period.
Product Performance
This section provides information about your product’s sales performance relative to other products within its own ASINs (Amazon Standard Identification Number). You can compare product performance over time as well as compare it with other products within its own ASINs (Amazon Standard Identification Number). The graphs show how many orders each product has received, how much revenue each product has generated and how many products have been sold in total during each period.”
What’s new in Amazon Brand analytics?
The following advanced features and capabilities are just around the corner for Amazon sellers!
Let’s see the most amazing tools we already have!
Listing track
In 2023, Amazon’s analytics tools will let vendors and sellers track their listings, their ad campaigns and the selling performance of their brands.
Alexa as a guide
In 2023, consumers can ask Alexa about specific products. They’ll get an immediate answer from Amazon’s Knowledge Graph using data from customer reviews and product listing pages.
Amazon’s Knowledge Graph is already a powerful product search tool. It uses customer reviews, product listing pages and product images to provide fast answers to questions like “What are the dimensions of this TV?” or “What’s the best place to get an Amazon Echo?”
But over the next five years, we expect Amazon’s Knowledge Graph to become even more sophisticated and personalized. It will continue to learn about the products you buy (and don’t buy), so it can take into account your preferences when recommending items that might be of interest.
Always available Prime Day analytics model
In 2023, the Prime Day analytics model is available all year long. Sellers will be able to track each day’s sales in real time, analyze what works and what doesn’t work, and use that information to inform future marketing decisions for their brand.
Customer reviews incorporation
Amazon’s brand analytics will be much more sophisticated by 2023. Amazon’s current product recommendation system uses an algorithm that takes into account millions of data points, including actual sales numbers, browsing patterns and customer reviews.
In the future, Amazon will incorporate customer reviews by asking customers to submit photos and videos of themselves using a product purchased on Amazon.
These images will be used to identify products that are being used in unconventional ways and to determine if the product is defective or damaged in some way. The images will also be used to gauge customer satisfaction levels for each product category.
Amazon Business Marketplace has new analytics tools
In 2023, the Amazon Business Marketplace will offer access to new analytics tools designed specifically for B2B companies who sell on Amazon.
Other e-commerced platforms integration
In 2023, Amazon Analytics tools will integrate with other eCommerce platforms such as Ebay and Walmart.com so that sellers can get complete data on their sales across all their channels in one dashboard.
Summing up: Why using Amazon Brand analytics is a must in 2023?
Amazon’s Brand analytics is definitely a good tool that any E-commerce seller should use. Back in 2015, Amazon took a big step towards making it easier for sellers to conduct competitor research and improve the efficacy of their advertising.
It was well-received by sellers and rightfully so: it helped them understand which keywords perform better and where they can get creative with their product listings.
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