In the ever-evolving world of eCommerce, Amazon reigns supreme, accounting for over 40% of consumer spending and offering millions of product choices across countless categories. Brands must cash in on the goldmine of Amazon’s daily traffic, but the growing level of competition makes it challenging to execute consistently.
Observing an increase in your Organic and Paid Share of Voice, but not seeing it lead to more orders? Looking at individual metrics in silos doesn’t tell the whole story which is why we’ve applied advanced data science to produce Category360.
Using Category360, brands are empowered to benchmark their own performance across a given Amazon subcategory and compare themselves against other major players. Our tool offers brands a holistic score by looking at 3 key pillars which drive the Amazon consumer’s path to purchase:
Category360 gives you access to highly insightful data for your brand and your competitors on share of voice, product listing optimization, and threats to price and fulfillment. Using our free tool, you will gain a competitive edge in a viciously competitive Amazon marketplace.
The first pillar of Category360 scores brands on their discoverability, which plays a pivotal role in increasing visibility and attracting potential customers. Our tool scores brands on over a dozen metrics such as Organic and Sponsored Share of Voice (SOV), Best Seller and Amazon Choice Badges, and more. By evaluating these factors, brands can benchmark their performance against specific competitors within a given category.
Reviewing discoverability metrics empowers users to fine-tune their marketing and advertising strategies, be better set up for conversion, and increase their chances of reaching a wider audience. In the vast and competitive Amazon ecosystem, maintaining a high share of voice is crucial for customer acquisition.
Look at brand-level strengths and weaknesses to inform your next actions:
Focusing on brand discoverability within an Amazon subcategory helps ecommerce teams hone in on competitor factors. The Category360 Score gives brands an edge with tactical performance to improve search rank. Higher visibility leads to a higher likelihood for brands that their consumer path to purchase is strong.
The second pillar of Category360 centers around conversion, a critical factor in achieving a strong overall brand score within a category.
Category360 evaluates whether visitors are likely to purchase based on ratings, content richness, brand engagement with shoppers through answered questions, and many more. These metrics shed light on a brand’s ability to convert potential customers into buyers.
The conversion score gives you insights into your customers’ experiences and identify areas of improvement. For example, an increase in the number of recent negative reviews and low ratings could show potential issues with your product quality, counterfeits making their way onto the platform, or faulty packaging that breaks down in transit.
Additionally, scoring your listing’s content richness offers marketing teams an angle to leverage images and videos to persuade shoppers to buy. Lastly, unanswered questions can shake up customer trust and hurt your seller rating. By actively addressing these factors, you will enhance customer satisfaction, boost Best Seller Rank, and ultimately increase sales conversion rates.
The third and final pillar of Category360 analyzes factors of Distribution, the final stretch of brand success for brands trying to dominate in the competitive Amazon marketplace.
Brands are evaluated based on metrics such as the average percentage of Amazon list price realization, average Won Buy Box percentage, and how many product listings are infested with reseller offers. Brands can assess their ability to retain control over the distributor network and enforce adherence to pricing guidelines.
Price metrics provide insights into how effectively your pricing strategy aligns with market expectations. If a brand consistently realizes a high percentage of its list price, it indicates that the pricing strategy is competitive and resonates with customers. On the other hand, a low percentage may suggest that your brand is facing challenges with price competitiveness or perceived value.
Lastly, a high presence of reseller offers on your product listings will harshly impact distribution and competitiveness. Excessive offers lead to price erosion, dilution of brand equity, and potential customer confusion. Monitoring reseller offers enables you to take necessary actions to protect your reputation and provide customers with a seamless buying experience.
You need a more holistic method to benchmark your performance as seen through the eyes of the Amazon consumer. Category360 empowers you to do just that. With benchmarking and data trends, you can make sure you are leading for all indicators of brand success within a category.