Amazon Brand Metrics: How to Improve Customer Engagement & Increase Your Sales
Are you aware of Amazon’s Latest measurement Service? It’s essential for anyone selling their products on Amazon!
If you’re an Amazon seller or Amazon vendor read on for some important and exciting information that could help you better understand your customers better and boost your sales.
What Are Amazon Brand Metrics?
As per Amazon, Brand Metrics evaluates the opportunities available to your business at each step of the consumer journey Amazon’s marketplace. This tool is designed to help brands understand the value of different shopping engagements which affect different phases of the journey.Utilizing this tool, Amazon store owners can determine the number of customers in the awareness and the consideration sales funnel stages.
With these predictive and causal purchases, you’ll be able to:
- Know yourbrand performance by analyzing your Amazon shopping habits.
- Analyze the effectiveness of your upper and mid-funnel campaigns perform. This will provide you with insight into how consumers interact with your brand at the entire purchase journey.
- Assess how well awareness and consideration campaigns were successful well. You’ll be able to see the number of sales you’ve generated over a 12 month review period to determine how much value was gained from an overall Amazon ad
- Optimize all marketing efforts order to grow your brand image, keep customers entertained and boost your sales figures.
- Track how your business performing in your respective category on Amazon at every step of the purchase journey of the customer.
Who Can Use Amazon Brand Metrics?
Currently, The current version of Brand Metrics (Beta) can be only available to eligible vendor owners and sellers. To be eligible you must be able to show at the least the equivalent of one calendar month that are in line with a minimum quantity of orders per month.This feature is also only available to sellers within the United States, Canada, Germany, Spain, France, Italy, the United Kingdom, and Japan.If you’re eligible and eligible, you’ll be allowed to access it through your advertising console.
How Can Brand Metrics be Used To Benefit Amazon Store Owners?
One of the most appealing benefits to be found in Amazon Brand Metrics is the fact that it’s built to scale. It analyses all online shopping interactions with your brand, not just those that are attributed to advertisements. This will allow you to see the full picture of how your shop is performing, something insights on the performance of ads will not be able to do.
Brand Metrics also breaks out its data to display key shopping engagements at each stage of the customer shopping journey. Doing it this way allows you to measure the effectiveness of engagement at each stage.
How they designed Amazon metrics allows you to measure the historical sales following every event or purchase. Doing this allows you to determine what is functioning at every step.
How Can You Compare Your Brand's Performance To Your Competitors?
Brand Metrics can also allow you to measure your brand’s performance to those of your competitors in each of your product categories.
Through clearly visualizing the effect of your mid and upper-funnel strategies, you can observe how customers navigate through your purchase funnel. Analyzing their movement through the funnel will help you determine the part of your strategy that will help increase your sales. Also, you’ll gain an understanding of the areas that need to be improved upon.
Once you’ve got the data into what your customers are responding to, you are able to use that information to better optimize your advertising and marketing strategies both in and off of the Amazon platform. Tailoring your marketing efforts to the likes of your clients will improve shopper involvement, brand identity and awareness, and your profits.
What Insights Can You Access Through Brand Metrics?
In accordance with Amazon the brand Metrics will help you to measure how you evaluate, enhance, and monitor your customer’s journey through your marketing funnel.
What Can You Do With Brand Metrics?
Brand Metrics provide a range of data, including:
1. The Shopper Engagement Ratio: percent of shoppers within the selected category who completed the purchase or considered event
2. Customer Conversion Metric: is the total number of consumers who converted after taking one of the following actions including detail page views or brand search Add to Cart
3. Brand-New Sales: The percentage of purchasers who have not been introduced to your brand in the last twelve months
4. Branded search: The total number of people who have looked up your brand’s name but not purchased from you.
5. Awareness Index and Consideration Index: These information are benchmarks that are calculated using a myriad of shopping experiences that contain causal links to sales or the consideration process.
6. Purchase segment: The total number of shoppers who are: 1. Brand customers 2. Those who have purchased from your brand during the week but aren’t likely to purchase from you again or 3. The top 10% sale drivers or customers who use your subscription service & Save for products in your store.
All of these insights have the potential to increase your brand awareness and product sales in their own unique way. You can use these Amazon metrics individually or collectively to help to your Amazon business.
How Can You Apply Brand Metrics To Your Marketing Funnel?
You can make use of the knowledge you learn through the Amazon metrics at all stages of your marketing funnel.
Amazon broke these insights down into these three major categories such as Awareness Buy, Consideration and Awareness.
Awareness, Consideration, and Purchase Stages of the Marketing Funnel:
1. Awareness: This table will show the amount of searches for your brand as compared with other brands. If you’re not aware of your brand it means that a large percentage of shoppers aren’t aware of your brand or store. Take advantage of this knowledge to increase the brand’s visibility for your store in the event that you’re below the 50th percentile.
2. Consideration: This will show you how many customers have thought about buying from your store. Amazon derives this information from specific page views, brand searches and add-to-carts. If the percentage is low, brainstorm ways you can increase the shopper’s movement from considering to purchasing.
3. Purchase: This analysis considers the top 10% of your shoppers, as well as customers who subscribe and Save for your products and those who purchase for your brand (“brand clients”). You can use this data to assess how your business compares to your competitors in terms of repeat buyers.
Professional Tip: you can look at the data derived from these categories in isolation or in a group. Then, you can employ different methods, like the use of a sponsored brand Video as well as Sponsored Display or Amazon Live, to increase the brand’s visibility, attention and purchasing rates.If, for example, your business is in the median of awareness, but falls below the most successful brands, find out what other brands are up to and think about the strategies they employ into your marketing campaigns.
Wrapping It Up With Amazon Brand Metrics
If you have an Amazon Store Brand Metrics are going enhance the effectiveness of your advertisements and increase sales when they are used in a proper manner. I highly suggest heading over to your advertising platform to check if you’re eligible for this brand new tool!
