Last updated on August 28th, 2024 at 09:38 am
You’ll find yourself competing with some of the market. To get a complete picture of your competition, it is necessary to undertake an Amazon competitor analysis. Are you interested in learning the steps to an Amazon competitive analysis? Keep reading!
Audit Your Competitors’ Product Listings
Product Title
Check the product title against how Amazon FBA suggests it should be written: Brand + Model + Product Type. Next, read the product title as if you were a customer. Does it give you useful information without any ads or price information?
Product Description
Move on to the description of the offering. What other details does it give about the product, or what does the seller leave out? Does the seller send the data in a style that is original and easy to read?
Product Questions and Answers
Check out the questions and answers (Q&A) area for the product as well. Does the seller answer the questions of the buying public? What types of questions do people look for, and how can that help you write your product listing?
Product images
Bring yourself back to the top of the list of products. How many of your photos have the listing images? Would your team be able to copy the pictures of the products there to show how your product can be used?
Read More: Triple Optimized Amazon Listing: The 3 Keys to Listing Optimization on Amazon
Research Your Competitors’ Branding
Once you’re done with your audit, you should look at your competitor’s branding. Many sellers skip this part of the Amazon competitor research process, but it can help you figure out why customers choose your competitor over you. Consider these ways to judge branding:
- Read the product description, features, and Q&A to see how the tone and words are used.
- Looking at the angle and style of the product pictures
- Looking into the style, packaging, and labeling of the product
- Analyzing the Better Brand Content
- A+ Better style of marketing content
When you look at your competitors for 15 to 30 minutes, you can get a good sense of their names. What kind of person are they? Maybe they’re easygoing and funny, or direct and interested in details. Sometimes, your branding might be the same as your rivals’, or it might be very different.
It’s worth checking to see if you and your rival are trying to reach the same people if your brand is very different from theirs.
For example, their fact-based approach might be aimed at businesses, while your humor-first approach might be aimed at customers. But since Amazon FBA as millions of sellers, you can be sure that you have a straight rival there.
Check Your Competitors’ Reviews
Later, you should read the different reviews that customers have written about the products that your rivals are selling.
This part of the Amazon competitive analysis gives you a lot of information about your competitors’ strengths and flaws, which can help you decide how to go about selling on Amazon FBA in the future. Following are some things you should consider when reading reviews:
Quality
Amazon wants to give customers reviews of goods that are substantive and complete. Consider the reviews of the goods your competitors offer. Do they explain in detail why people like or dislike the product? Or, do they have reviews that are only a few sentences long?
Quantity
Amazon FBA makes sure that the number of reviews and their quality are both in balance. Amazon’s algorithms will naturally favor items that have a lot of good reviews. Different products from your competitors have different numbers of reviews. How do their reviews relate to yours?
Benefits
If you want to make your products more competitive, you need to know what makes your competitors’ products effective. Which of their features do customers love? Do your goods have the same benefits? How can your listing images show that these perks exist?
Issues
You can make your product more valuable to customers by knowing what makes your competitors’ goods bad. Customers don’t like what your competitors’ goods do, so how does your product fix those problems?
Ratings
Also, look at the average score for each item; you can remember the star grade in your Google Sheet. Getting more real reviews for your products might require you to think about a review management plan, depending on how good your competitors are at this.
Responses
Check to see if your rival answers reviews, good or bad. How do they talk to customers, especially ones who aren’t happy? How can your team learn from their method or make it better?
According to your review and assessment, your team can help you make your overall plan better. For instance, your company might decide to change some product ads to take advantage of issues with competitors, like a limited warranty.
Visit Your Competitor’s Amazon Store
If your competitors sell on Amazon, they may have an Amazon Store. An Amazon Store is like a mini-website for businesses on Amazon; it makes it easy for customers to find your goods.
Check out the Amazon store of your rival if they have one. When you check out your competitor’s shopfront, here are some things you should look at:
Design
Amazon FBA has a variety of Amazon Store templates, but the style a company picks can help your team figure out how they’re going about things. For example, they might put a few of their best-selling items on the home page to draw attention to them.
Product Display
Furthermore, Amazon lets sellers choose which goods to show off in their Amazon Store. They can either choose the products themselves or use widgets that have already been programmed. For instance, some sellers might use a widget to spotlight their most popular things.
Social Media
There are also links to social media sites in Amazon Stores. This feature can help your team see which social media platforms rivals are promoting the most. You may already know a competitor’s links.
The Amazon Store of your opponent might not give you a lot of useful information, but you should still check it out. If your team checks your competitor’s Amazon Store every three months, you might notice that they just started showing off a different product, which is a clear sign that they have changed their strategy.
Check Your Competitors’ Targeted Keywords
What is the most important part of analyzing Amazon’s competitors? It is studying the keywords they use. After reviewing your product listing images, you likely have an understanding of the keywords your competitors are using.
Usually, sellers use their main keyword in the title of their products. For example, many products have phrases like “TV wall mounts” or “RV tv mount.” These phrases are likely the keywords the sellers are focusing on.
This can be seen in search results from analyzing Amazon’s competitors. If this seems like a lot of work to find your competitors’ keywords, there is a simpler way to study their keyword strategy.
Read More: How to Name Your Product Images and Amazon Attribution for Effective SEO
Assess Your Competitors’ Prices
The decision of consumers to purchase a product is greatly impacted by the product’s cost; this can even lead them to choose to purchase from a different seller.
For this reason, it is essential to consider the prices of Amazon’s competitors when analyzing them. There is a simple way to find out what prices your competitors are offering, just like looking at your competitors’ keyword tactics.
Investigate Your Competitors’ Ad Campaigns
Do a full analysis of your competitors’ ad efforts to finish your Amazon competitor analysis. You should look at the buzzwords that your competitors are using in their ads. How much do these terms cost per click (CPC), how many times they are searched for, and how much competition is there?
How do those numbers change their cost per sale (ACoS) for advertising? You can come up with a better advertising plan if you know how your rival does it.
In this case, you don’t focus on short-tail keywords as your rival does. Instead, you focus on long-tail keywords, which have a lower CPC. That plan will help your company to have low ACoS and connect with customers in the group you want to reach. It also helps you reach your goals of making more money and getting more reviews, which can help your search engine ranking.
Amazon Branding Strategies for Global Recognition
Realizing that a brand exists is the first step in a customer’s buying process. Although Amazon might not always seem to give individual brands the exposure they want, there are several ways to make the most of it when going global.
Businesses should look into successful methods that let them grow internationally, convert traffic, and keep full control over their image. Make those first clicks on Amazon FBA into sales by using the power of brand visibility:
Join the Amazon Brand Registry
By joining the Amazon business Registry, you can use proactive tools for protecting your intellectual property (IP) and business. First, make sure your brand’s base is strong. One thing that is needed, though, is a trademark registration that is either pending or active.
Create an Amazon Brand Store
Sellers and vendors may take their products to the next level with an Amazon Brand Store, a free DIY tool offered by Amazon. Just how? Through the establishment of a flagship shopfront, which serves as a singular location for their brands.
The personalization options are what make brand stores stand out. The platform gives users a lot of leeway to express their creativity while making an Amazon shop front that represents their brand.
It also gives you access to Amazon Store Insights, a sophisticated brand analytics tool that keeps tabs on conversion tracking criteria. Users can compare traffic-related brand indicators like page visits, visitor volume, and device distribution with predicted total sales and units purchased.
Keep People Interested With A+ Content
There are other ways to tell the story of your brand and show off your best goods besides opening an Amazon Brand Store. Also, brands can swap out boring product details for A+ Content, which is visually appealing and full of useful information.
Brands can use A+ Content to tell stories and show a lot of information about their products. A mix of good videos, pictures, and important keywords can:
- Make things better for customers
- Helping to make an interesting brand story
- Make it easier to find products
- Improve listing images to get the most sales
Build Trust with Social Proof
Better brand value on Amazon can also be earned from positive reviews. For Amazon FBA sellers, ratings are like social proof that lets them know that rated branded items are good quality and reliable.
Programs made just for Amazon, like Amazon Vine, help get good reviews from people who have bought from Amazon before. It lets brands increase their first-time sales by up to 30%, according to Amazon’s study.
Branding Boosts Global Success
Some costs and problems with logistics come with entering a new market on Amazon. Improving brand-building efforts can also be hampered by the difficulty of figuring out and adapting to new consumer behaviors, regional differences, and competitive environments.
Due to higher costs and operational problems, companies often have to put off important branding efforts. Does putting short-term steps towards entering the market ahead of long-term brand building help with conversions?
According to our experience, establishing a global brand has a big effect on and helps boost Amazon sales in several ways:
Recognizing A Brand Helps Differentiate
Visual recognition is the most important part of branding. Products on Amazon and other competitive sites may look a lot alike, but if your brand has a strong personality, it can stand out.
Utilize branding to bring in customers and catch their eye the first time they see the goods. Eventually, you could use unique branding to make it easier for customers to pick out your goods over others on the market.
Marketing A Brand Raises Trust And Credibility
Buyer faith is greatly increased by trusting a brand. People usually stick with brands and goods they know and trust.
Knowing that the product or service will live up to their standards makes customers feel safer about the purchases they make when they trust the brand. Feeling confident makes it more likely that you’ll make a single sale and pushes people to buy from you again.
Read More: Marketing Your Product USPs on Amazon: Strategies and Examples
How to Get Your Amazon Listing Noticed
Stay in Stock to Sell More
You can’t expect to get to the top of the search results or win the Buy Box if your product isn’t in stock and charges too much. As a seller, Fulfillment by Amazon (FBA) is the best way to get your goods to buyers. Don’t do anything, and if something goes wrong, Amazon will pay for it instead of you.
Check your Amazon account often and keep an eye on how much stock you have. You can keep your goods in stock and avoid long-term storage fees by sending small shipments to Amazon fulfillment centers regularly.
In short, you need to have enough stock to cover expected sales + extra. It’s even more important to do this during Q4, Prime Day, or other busy times for your business.
Prioritize Your Product Images
Since a picture is worth a thousand words, make sure to work on your product pictures while you’re filling out your listing images with great keywords and interesting facts about your things.
By 2022, most people will be shopping on their phones. Product pictures are very important for getting people to buy on the Amazon app because they are higher up and easier to see. Make sure the main picture you use is clear, high-resolution, and does a good job of showing off your product without breaking Amazon’s rules.
Once you have your main picture organized, don’t just use one or two simple images on your listings. You can use the seven image spots (or six images and one video, for even better results) to show off all of your product’s best features.
Assemble diagrams that show off your brand and product by adding text labels, measurements, certifications, and some information about your brand.
Attention: Starting in June 2023, you can now add movies to your Amazon product pages whether you are a brand-registered seller or not. If you’ve been selling for at least three months, this tool can help you get more sales and conversions while reducing returns. Don’t pass up the chance to show off your goods through interesting and useful videos!
Visibility for Brand Owners on Amazon
Currently, Amazon handles both internal and exterior traffic. Promoting your goods on Amazon is hard, but turning people who are just looking at your items into buyers is even harder.
Since Amazon FBA has so many sellers and goods, it’s important to be a brand owner and use the tools that Brand Registry users can access.
This will elevate your items to the Buy Box, give you access to marketing tools like Brand Stores and A+ pages to show off your goods, and shield your brand (and customers) from copycats and fakes.
Start with SEO Keywords
If you want to do well on Amazon, you need to focus on SEO more than on Google. List optimization is all about making sure that your goods are easy for people to find.
Do a little product research on the terms people might use to find your products on Amazon to make your listing stand out. Long-tail and short-tail terms should both be covered in detail.
Something clear, like the main search term for your goods, is a short-tail keyword. Say “earrings” for example. It automatically fills in the “earrings” field in the Amazon search bar.
You could also use some clear short-tail keywords, like “jewelry,” “earrings for women,” etc. if you’re selling gold earrings. Your second line of defense is long-tail terms. They might not bring you a lot of visitors, but they will bring you people who are very interested in what you are selling.
One example is “women’s tiny gold earrings.” It’s time to add the phrases you’ve made to your product page. In your title, bullet points, product summary, and backend keywords use these phrases.
Don’t Keyword Stuff
Keyword density will help people find your goods. However, if they get to your product information page and see a bunch of random keyword phrases, they won’t buy your product.
Hire a good author to make sure that you use the right mix of amazon keywords for SEO and informative title, description, and bullet points. You should make your offering stand out by telling people what makes it different from the rest.
If you want to sell your goods, you need to make them stand out from others by giving them unique selling points. As an example, do you only use natural ingredients? Are you a family-run business? Did an interesting story lead to the start of your brand?
Do you give to good causes? These things should all be on the Amazon product information pages for your items.
Amazon’s Subscribe & Save Program
Marketing Your Subscribe & Save Offer
Once your products are enrolled in the Subscribe & Save program, it’s crucial to market this option effectively. Highlight the benefits of subscribing to your product listings, such as the convenience of automatic deliveries and the cost savings from the discount.
Use compelling language in your product descriptions and titles to emphasize these advantages. Additionally, consider using Amazon PPC (Pay-Per-Click) advertising to promote your Subscribe & Save listings.
Managing and Optimizing Your Subscribe & Save Program
To maximize the benefits of the Subscribe & Save program, continuous management and optimization are essential. Regularly monitor your subscription metrics, including subscription rates, churn rates, and customer feedback.
Use this data to make informed decisions about your subscription offerings and identify areas for improvement.
Bottom Line
Promoting your products and making sure your listings stand out can feel like a full-time job, especially when you think about all the other things you have to do.
All of these tips can help you get ahead of the competition, but there are still more marketing tricks you can use.