Account Metrics and New Amazon Data
We’re talking new data, some sellers are getting access to within seller central. And the account metrics you want to pay attention to all coming up in this episode of the Amazon Seller Podcast.
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Nathan: My name is Nathan Slamans joined by Liran Hirschkorn and Andy Slamans. And today we’re going to be talking about Amazon seller account metrics and some new data that we’re seeing inside of seller central, available to some sellers not available to others we’ll cover that.
So Andy, you actually are one of the lucky few who has access to brand analytics recently within your account. Um, and maybe you can just talk through what is brand analytics. It’s pretty new to most people I think still and to Amazon in general. So maybe talk about what brand analytics is and why you are really excited when you were basically just looking through your reports and saw it pop up in your account and talk about some of those details.
Andy: Sure. Liran’s actually been talking about this for a while, that he thinks that Amazon’s going to continue to give a more useful data to sellers, uh, primarily to attract bigger brands to help them advertise their products.
Nathan: Once again, Liran’s predictions were correct.
Andy: Right? And so yeah, definitely I was excited when I discovered in my account I have the ability now to generate some of these reports. Basically what’s cool about it is it gives you the exact search data based on a formula similar to the best seller rank for various keywords. You can actually plug in a specific ASIN and it’ll bring back what the number one listing is four for the keywords related to that ASIN. So it just, it’s for the first, for smaller sellers like ourselves.
Uh, we, we have access now to data that I think was previously only given to bigger brands, so very excited. I’m like, I’m looking at it right now and it will actually give you some of the top search terms on Amazon. Um, and it, it ranks them in order of volume, uh, like I’m looking at some of the top 10 ones are iphone case, iphone charger, wireless earbuds.
So again, like data that we’ve never had access before, now we have and it’s hopefully going to help us make better and more informed decisions, uh, when we’re using PPC, when we’re vetting and looking at potential products and it’s just exciting to see the Amazon’s kind of releasing our opening up the gates a little looser so that we can have this type of data.
Liran: Yeah. So we should talk about that. Right? So it’s great that we have this. What can you actually do with this data to improve your Amazon business?
I think a great example is, you know, if you’re looking for a particular keyword where you’re ranked number 10 on the page, you can see the top competitor and you can see how much a click share they’re getting. What percentage of the total clicks that happen on that page are they getting and what is their conversion rate for that product?
This is data that we never had access to before, which now will help us know, okay, if their conversion rate, you know, for this particular keyword is, you know, 25 percent. I know that I need to convert better than that in order to improve my ranking, to get ahead of, you know, ahead of potentially them or ahead of some other competitors on the page. Because this is what their conversions are, especially if they’re ranked higher, they’re also getting more traffic.
So that means not only do I do I need to get for that keyword, right? If they’re wearing tire, we would assume that the number one, two, three position players are getting more traffic than the number 10 position player. And if I’m in the 10th position, I need to now continue to drive traffic to that keyword. But I also need to convert better. So how do I, how do I siphon off some of the traffic? They’re getting improved conversions. Do you know, do I need to have a lower price? Do I need to add a coupon badge on my listing? So customers, these customers on a desktop can see that that badge on my listing, like what do I need to put in place or is it even possible? Should I focus on this keyword?
We’ve seen some screenshots of people that have a 95 percent conversion rate, uh, on the, on the number one position. Um, maybe that’s not a keyword that I now want to target, let’s say in a launch and a giveaway or to be really aggressive with in terms of PPC to try to get ahead of that competitor. Maybe I just can’t win on that keyword and I need to go after a different keyword. But this data can really help you. Now that we have this, we, we’ve never before been able to understand conversion rates through keywords. And for the first time, Amazon is giving us this data directly.
Nathan: And Liran question about, you know, you mentioned launches and giveaways and this might be getting a little bit more detailed or technical as far as far as that goes. But a keyword where, you know, the top player is at a 95 percent conversion. And then another keyword where some of the top people are only at maybe 20 percent or less.
If you are trying to get more sales to rank ahead of them or do giveaways or launch, you would probably have to definitely plan it differently. Um, if you are trying to leapfrog over some of those listings, right?
Liran: Yeah. Because we’ve always sort of made some assumptions in terms of our estimations for how to increase rank. We always say, you know, my feeling has always been like, you know, I look at the main keyword and because it’s the main keyword, I’ll estimate, you know, 60, 70 percent. I’ll estimate a higher probability in what’s actually happening. But a higher percentage of sales coming through that keyword in order to figure out how many units do I need to give away because the data that we have through software tools like Market Intelligence is what is everybody’s selling in total for the month. Uh, approximate sales. We don’t know. We don’t have data from Amazon telling us how much are they selling through this particular keyword.
Now we at least know conversion rates, um, we have some good estimations on, on search volume. We have an estimation on the click share that they’re, that they’re getting. So we can, I think better estimate or we can start with our initial estimates and then if we look at this additional data of conversion rates, we can sort of, um, toggle that number up or down based on the competitors. And again, based on deciding, even if I want to rank if I wouldn’t try to rank for this keyword. Because if the number one position player is right now garnering, you know, a very high amount of the clicks and a very high amount of the conversion rates, the question is, can you be, can you beat that competitor? And if so, how?
And you’re probably gonna need to come up with a strategy. Now having this information that will tell you, okay, if I’m going to try to beat them, how am I going to do it? And number two, uh, if I, uh, if I don’t think I can beat them, what other keyword may you know, am I going to try to be highly ranked for and maybe maybe what other keywords now that I want to make sure I’m including in my listing, um, that maybe they’re not including or how do I want to target or do I do, I only want to really go after PPC, uh, with this keyword and not focus on it as much in terms of like let’s say some kind of launch or um, or organic targeting.
Nathan: Yeah, very, very true. And so this is not available to everybody. Not really sure who’s going to get access eventually too, if it’s being rolled out or um, you know, who all will be able to access this kind of data.
But definitely interesting that Amazon is giving this out to more people now for sure, uh, than, than previously this type of data. And yeah, as Andy said, Liran has been kind of calling this for a couple of weeks, a couple of months now that he thought that something like this more data from Amazon would be coming. So very cool to see.
Know the important metrics within your Amazon seller central account.
All right, let’s talk about important metrics within your Amazon seller central account. This is the kind of stuff that, uh, most people I feel like don’t look at because it’s starting to get a little bit technical. It’s kind of like PPC and stuff like that. A lot of numbers can be difficult to figure out and track on you.
Liran, you often say, how important do you think it is to look at these metrics within your account because you can make some real decisions based on, uh, what you’re seeing and why things are happening. You know, a lot of people just say like, oh my sales are up or down, Liran, you like to take a deeper look at it, right?
You don’t like to just say my sales are up or down, you, you like to look at things like sessions and conversions and all that. So talk to us about what these metrics are a, what’s the most important ones, probably in your mind to look at how often do you look at them? Um, and, and all that’s involved with that.
Liran: Yes. So I do think it’s important to look at your metrics and understand that whenever you’re making changes to your listings, you want to be able to understand how those changes are ultimately affecting your sales. But you want to not just look at, okay, I updated my listing with additional keywords or you know, I’m now doing, you know, dynamic bidding for search and PPC or some of the things that we’re doing. We don’t want to look at individual components in a, in a silo on their own. We want to look at how it’s affecting your entire picture.
So for example, if, uh, I’m targeting a particular keyword to rank for it, well, I want to see now how is that affecting my overall traffic and my overall sales? And so you shouldn’t be looking at your, uh, I think for every product, your sessions, and your conversions on a monthly basis and see how you’re charting, how is that graph graphing over time and if there is a down, uh, for any of this, what is the result of it? So if you’re selling a product for Valentine’s Day, then, of course, your sessions should be up right now, uh, while we’re recording this in February and they’re probably going to drop after if you’re selling chocolate, for example, right, as a Valentine’s Day product.
So I think just understanding the numbers and then understanding like what’s the story behind the numbers or, uh, if you increase your price, how does that affect your overall traffic, which is, which it probably will affect your traffic. Maybe you’re not going to get as many clicks onto your listing, um, and which is essentially convert sessions. But maybe your conversions are still the same and your profit overall is up.
So being down in sessions on its own, not necessarily a bad thing. If your profit is, is up and so understanding this, charting it on a month to month basis and then looking at your overall rankings is how they play a role in this because we know, especially from these brand analytics that Amazon has put out that you can have different conversion rates if you’re in the number one, two or three organic position for your listing as opposed to if you’re on page two, that that person who is in a buying mode might be clicking on the first thing that they see and buying as opposed to somebody who’s in a browsing mode that might find you on page two, but they’re sort of still browsing.
The fact that they even got to page two might mean that they’re still in the research or browsing phase on a product. Um, also, if you have higher price products, what kind of, you know, you may not have the same conversion goal. Uh, you know, if you’re selling a product for 9.99, that one product in your sort of portfolio of products might have a 40 percent conversion rate versus a product you’re selling for $150, might only have a five percent conversion rate and maybe that’s, maybe that’s okay. You want to kind of establish what is my goal for this? I’m using things like brand analytics. You can kind of look at your competitors now and get some, get some idea on how their conversions are for particular keywords and then understanding how everything affects each other. Um, you know, including, you know, even with our own, uh, PPC management when we are, when we’re looking at ACoS, we’re not looking at ACoS on its own as its own silo. We’re also, we also want to get access to our clients and we do this on their own accounts, on keyword ranking.
So if I’m targeting, you know, if I’m implementing dynamic bidding, which is now, you know, new thing in the last, uh, last few weeks that is rolled out with Amazon. If I’m utilizing that, um, what’s the strategy behind it isn’t only for profitable conversions or is it also to drive keyword ranking in organic ranking for that particular keyword? And if my a-costs, um, maybe was 20 percent and is now going to 40 percent and utilizing this will, how has that affected my organic position? Um, so you want to be tracking your, your keyword rankings and that’s why it’s important to utilize, utilize tools that can help you do this and not necessarily just look at one particular piece of data in your Amazon account and make decisions just based on that data, not just looking at necessarily a cost, if it’s also a keyword that you want, sort of an increase in rankings for an organic positioning and our organic sales.
Liran: So, understanding, uh, and looking at this is the reason why we thought it was important to you this episode. If you haven’t done this in some time, if you haven’t, you know, if you don’t have a VA or if you’re not pulling yourself like a monthly sort of excel sheet of your sessions and conversions and tracking it over time. And also looking at your rankings and how a organic rankings and how it changes in PPC is influencing that or changes in your price. Or, you know, maybe your conversions are down and then you go and see that, you know, you just got a two star review and it’s showing up on your first page of your, of your product, or maybe your overall reviews went from four point three to four point two, which means you went from four and a half stars to four.
That’s going to be a big influence in terms of your sessions and conversions. And so understanding that and how various things can influence everything in your account I think is really important and why we wanted to come on in, uh, talk about this because, uh, you know, looking at excel sheets all day isn’t fun, but I think it can help tell the story of what’s happening with your, with your product and um, and uh, and how the changes that you’re making to your products or pricing, uh, are influencing what’s actually happening and how consumers are interacting with your listing.
Nathan: Yeah, that all makes sense. And I do believe that most sellers take too narrow of an approach when it comes to, um, you know, especially things like PPC. Where you, where you just focus in on your eight costs and you just want to lower a costs, you know, and more sales, lower a cars through your advertising and it’s easy to forget how much that can impact your organic search rank and the other other aspects of your brand and, uh, that can really make a bigger difference in the big picture of things.
And I know that’s something that you’ve been talking about for a while and so it definitely does play a big role as far as helping organic rank and you’re a PPC and all of that. So yeah, account metrics, there are probably several other, uh, account metrics that can be looked at within the account. Those probably being some of the most important as far as metrics go. But there are several different reports that Amazon gives us and as we’ve seen what appears like more data and reports that should be available to more people soon.
Liran: Yeah. And, you know, Amazon will be rolling out, I think they will be rolling out, um, what I think will be called brand central that could be part of, um, maybe when they merge sort of seller central and vendor one or one vendor, I think they’re going to roll out this brand central where they do give registered brands more access to a more data. So you’ll see, you know, when, when I sat down with Amazon, this is like a year ago, they actually showed me some of what these pages might look like on like printed sheets that they had, um, and asked me for feedback and I was kinda shocked when they, when they mentioned the fact that they would give like conversion and traffic data and conversions and clicks and all this stuff. And I almost didn’t really believe that they would, you know, that the guy who was sitting across me telling me that they’re going to do this. That was not what actually ended up releasing this data.
But we’ve now seen with the brand and analytics that they, that they are in fact releasing this data and doing more. And you know, one additional thing we’ve seen now is Amazon rolling out targeting towards a business customer specifically. So, um, you’ll be able to create sponsored ads that will specifically only target, uh, only be shown to business customers. So this means that right now you should be looking at your products and making sure that you have, uh, or if you want, if you want to appeal to that business buyer that might be buying bigger quantities or looking at or maybe being more competitive than maybe you have a business price that’s a little bit lower than your main price or that you’re setting up a quantity discounts you can set up.
So I have on my, like on some listings I have, if you buy 10, you know, you, you’ll get 15 percent off, for example. Because I want that. I want the average order value to be higher. I know that that will also influence your session percentage because when Amazon shows you conversions and talking about metrics, they actually, you can actually have over 100 percent conversion on an item then you’ll ask yourself, how can it be that I’m converting more than 100 percent and Amazon actually looks at units. So when, you know, if you have one session and somebody buys 2, your conversion rate’s going to be higher than 100 percent because Amazon actually looks at it, looks at it on a unit basis.
And so if you’re able to reach out to those business customers that are buying bigger units, that will also help you with your rankings and obviously sales. So what you want to do is you want to look at your, uh, your products and I wouldn’t assume that your product is not necessarily geared towards businesses because there are lots of business accounts that could be set up, uh, from an Amazon, you know, consumer side. They could be schools if you have toys, they could be buying for their entire classroom. There are government organizations that are buying, um, there are charities. Um, and then there are businesses, so I think almost any product can almost fit into the potential for a business buyer to be buying that product. There’s corporate gifting, there are so many different things that can, you know that business buyers can or the Amazon business buyers can look at too, to buy your products that you should be setting up your products for those customers. If you, if you want to try to reach them.
Nathan: Awesome. Well, great information on important metrics and some, some new features and for those listening who are ready to take a more complete look at your account and keywords and metrics and specifically your Amazon advertising and how that relates. You can check out our PPC management service where Liran actually personally is involved with creating and managing and optimizing your campaigns to take a complete picture at your, a-costs that you’ve been talking about in the keywords, in an organic ranking and how and how they all fit together and to make sure that you’re maximizing your results. And you can check that out www.amazingfreedom.com/ppc. Uh, and then if you haven’t already, make sure you join our free Facebook group. If you type in Amazing Freedom – Amazon sellers on Facebook, you should be able to see that there and you can connect with us there for more good stuff that we post in there. So that’ll do it for this episode. We’ll catch you on the next episode of the Amazon Seller podcasts.