Amazon sellers should analyze buying trends as consumer behavior is key to eCommerce success. Discover how marketing analysts can boost your Amazon sales.
Amazon prioritizes products with high purchasing power. Therefore, understanding the customer and the customer buying journey is very important. If you’re an Amazon seller, improving customer analytics and data-driven decision-making should be a top priority in 2021.
Successful Amazon sellers often partner with marketing analysts in an Amazon agency to monitor trends and identify opportunities. For example, while customers choose an Amazon store based on price, buying habits, and brand loyalty, marketing analysts use customer data to learn why customers choose this store over another.
This article discusses 2 big questions: “What does an Amazon marketing analyst do?” and “How can they help with your sales performance?”
What Does An Amazon Marketing Analyst Do?
Marketing analysts study the market of a specific industry and help Amazon sellers get the best position in that market. Typical duties of marketing analysts include:
- Collect market condition data
- Research customer opinions, buying habits, preferences, wants, and needs
- Analyze data on competitors’ marketing tactics, product pricing, and distribution
- Evaluate data collection methods, including polls, questionnaires, interviews, and surveys
- Develop marketing tactics and metrics to measure the effectiveness of your current advertising programs
- Monitor the effectiveness of the marketing
- Forecast marketing trends to uncover new advertising opportunities
- Transform collected data into digestible information and visually present reports
Based on their analysis and findings, marketing analysts understand the market needs and recommend to Amazon sellers a specific marketing strategy, including 3 key points:
- Products that are well received by the market
- The price at which customers are willing to buy the product
- The best marketing method to reach target customers
How Can Amazon Marketing Analysts Help With Your Sales Performance?
Many Amazon sellers need to stay ahead of the competition to survive in this harsh eCommerce marketplace. Some optimize pricing, distribution channels or allocate more resources to advertising campaigns. However, others rely on marketing analysts to take their product to the next level by connecting with your customers and delivering value as a brand.
Therefore, understanding customer data is critical. To do that, marketing analysts examine relevant data, including market size, trends, growth rates, profitability, opportunities, customer sentiment and behavior, and Amazon’s marketing tool. They then identify what worked and didn’t work in past marketing campaigns and propose what will work best in the future.
Here are 6 ways that Amazon marketing analysts can sustainably increase your sales.
1. Research Of Target Customers
Having the right insights and data is critical to customer analytics. However, Amazon’s Data Protection Policy does not provide customer data to its sellers for advertising. Thus, you must use outside tactics to gather information about your customers with many different approaches. But you can be overwhelmed by the number of sources, data volume, and reporting on Amazon and don’t know how to balance between qualitative and quantitative insights.
Marketing analysts can incorporate data across channels, touchpoints, and systems along the customer journey to:
- Build customer profiles (or customer persona)
- Understand how to best deliver to your customer demographics
Therefore, it’s helpful to have marketing analysts regularly re-evaluate your target customers, conducting additional research on their wants, pain points, and preferences.
2. Strategy Development Based On Amazon Algorithms
Amazon acts as a search engine and provides results to customers based on their searches. Therefore, you must understand how Amazon’s algorithms work. Otherwise, you cannot develop a successful strategy to increase your sales.
Due to the complexity of Amazon’s algorithms and constant updates, Amazon sellers should partner with an Amazon marketing agency. With the expertise of marketing analysts, you get a reliable partner.
- Explain how Amazon’s algorithms work
- Suggest optimization and promote your products
3. Product Listings Improvement And Optimization
50% of customers turn to Amazon to buy products. However, Amazon attracts customers with many different needs and search intentions. So, if your company wants to stay ahead of the competition and increase sales on Amazon, you need periodic product listings improvement and optimization, including:
- Targeted keywords
- Product description
- Product pictures
- Product reviews and rating
It takes time and effort to do this, especially if you have no expertise. However, marketing analysts can proactively examine and suggest developing a strategy to improve and optimize your product. As a result, your ranking in search results is enhanced, and your customers find and purchase easier by:
- Content marketing: Use improved marketing characters to create relevant content for your customers and guide them through your purchase funnel.
- Keyword research: As you increase your understanding of your target audience, you can choose the most relevant keywords to target in product listings.
- Focused promotion: Take advantage of the popularity of best-selling goods, which can improve sales, profits, and your return on investment (ROI).
4. Proper Allocation Of Amazon Advertising Tools
It takes time and skill to manage and optimize your Amazon presence. Therefore, many sellers partner with an Amazon marketing agency. In terms of benefits, when partnering with an Amazon marketing agency, a marketing analyst can provide a full-service digital marketing agency as follows:
- Amazon advertising
- Amazon product optimization
- Amazon management review
- Amazon Store Launched
- Amazon consulting
An essential aspect of the allocation is minimizing risk to a company as they embark on new marketing campaigns and strategies. Marketing analysts can reduce your risk by:
- Understand response rates and customer abandonment rates
- Measure return on investment to make in-time changes
5. Competitor Activity Analysis
To increase your Amazon sales, investigating and analyzing your competition is essential to find valuable information about:
- Competitors’ keyword strategies
- A competitor’s approach to advertising and marketing on Amazon
However, marketing analytics don’t focus on copying your competitor’s strategy for competitor research. Instead, they inform and enhance your capabilities with plans that are stronger than those of your competitors.
For example, you see that many customers complain about the product breaking after the 30-day warranty period. Therefore, marketing analysts might suggest in addition to product features (list of five bullet points to the right of the product image) that your product offers a one-year warranty.
Similar to product listing optimization, sellers should have regular competitive analyses to increase sales.
6. Compliance With Amazon’s Marketing Terms and Conditions
Whether you’ve improved product descriptions, product images, and product reviews, you must follow Amazon’s terms and conditions. Otherwise, Amazon may penalize or ban your account, and it reduces your sales immediately.
As a result, many Amazon sellers partner with an experienced Amazon marketing agency. They have expert teams who understand Amazon’s standards when performing marketing activities such as:
- Optimizing product titles
- Earning genuine customer reviews
- Protecting your brand with the Amazon Trademark Registry
Today, Amazon sellers need to analyze and predict customer buying trends to drive sales. The primary goal of marketing analytics is to help Amazon sellers understand where they are in the market and change based on price, consumer habits, and potential new markets.
If you’re serious about boosting your sales on Amazon, you need to prioritize it and form a dedicated team to periodically manage and optimize your Amazon store. Otherwise, you can’t monitor the efficiency and make tactical changes.
With many Amazon sellers, it can be challenging to maintain an internal team to manage Amazon. In addition to the cost factor, finding talents is also a challenge. That’s why many Amazon store owners, whether new or established, outsource their Amazon account management.
Visit www.olifantdigital.com and meet their marketing analysts – they’ll take good care of your campaign and make recommendations for you.