Have you ever wondered exactly who is buying your products? How old they are, whether they’re male or female, what income bracket they fall into? How many of your customers are repeat purchasers, what do they do after viewing your listing, and what else they've got in their baskets?
Getting to the bottom of these questions means you can take your listing strategy and product design to the next level, as it allows you to make decisions about your target audience based on facts rather than assumptions.
For Brand Registered Sellers, these are all questions that we can answer with the help of data from Amazon’s Brand Analytics platform - launched in late 2019 in the US and expanding to all other markets.
To get even more insight, we can compare the demographic data in your Google Analytics account to your Amazon Brand Analytics to provide further insight into branding and listing optimisation
Pareto's Principle - Your Key Products
80% of results will come from just 20% of the action, 80% of the profits will come from 20% of the products. The exact balance may differ, but from experience with our both own products and client accounts, it’s likely that the majority of your profit is going to be driven by a small number of SKUs.
Digging into exactly which of your products drive the majority of effect allows us to do three things:
1) Ensure that your top contributing products are prioritised to bring about further profit growth
2) Identify improvements that can be made to the 80% of your products that are contributing less.
3) Flag SKUs that are taking up a disproportionate amount of cost/effort whilst driving little or no profit.
In this way, we can ensure that we are maximising the profit growth and that both us as an agency and you as a business owner have the data you need to make decisions on where our effort should be spent.
Which products make 80% of your profits? What age, gender or income group are customers? How often do you get repeat purchases?