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Finding new growth opportunities on Amazon is a core skill for any brand.
It can be intimidating. Luckily, Amazon has created three critical tools to help get you there: the Product Category Insights, the Product Opportunity Explorer, and the Search Query Performance dashboard.
In this webinar, Matt Snyder, VP of e-commerce at Vari, discusses how brands can leverage these tools to swiftly identify new advertising and product launch opportunities.
He highlights how to:
The Search Query Performance dashboard highlights your share of impressions, clicks, adds to cart, and other core metrics for a given search term.
By examining discrepancies between, say, impressions and adds to cart, you can identify new advertising opportunities. If you have a high add-to-cart share but a low impression share, that means you have a high-converting product that just isn’t getting visibility. The solution: Bid up.
One of the best ways to use Amazon’s Product Opportunity Explorer is to scrutinize the average out-of-stock rate for a certain category.
Locate categories relevant to your brand with a lot of out-of-stock issues. This means that customers are often buying in these categories, and are just not finding enough of a product assortment. A high out-of-stock category is usually a great expansion opportunity for your brand.
A useful part of Amazon’s Category Insights feature is the Customer Review Insights tab.
Customer Review Insights highlights common patterns in reviews. Amazon breaks it out by both positive and negative trends, and includes direct quotes from customer reviews to illustrate this point. Wondering how you can improve your content, or improve the product itself? These review analyses are the place to start.
Complete this form, and a team member will be in touch to schedule a demo.