According to research platform Jungle Scout, over 2,000 sellers register on Amazon EVERY DAY. Most likely, among them there are those whose products and interests overlap with yours. Therefore, analyzing and creating a strategy for how to stand out from other sellers is one of the priority tasks of any business.
Having information about competitors, you can:
better understand the needs of customers and adapt your offer to them;
define the methods and tactics of marketing strategy;
adapt to dynamic market changes, etc.
Simply put, competitor analysis has a direct impact on the success and growth of your project. In this article, we will tell you how to do it correctly, what metrics, tools and services to use.
How to Analyze Competitors on Amazon
Any analysis begins with finding the subject of the study. In our case, it is necessary to find sellers who offer similar/similar and even complementary products. The easiest way to do this is to search by keywords within the site.
We are most interested in sellers with the maximum number on page seo service of sales, having the Best Seller or Amazon Choice badges. Moreover, it is better to study their behavior not only at the moment, but to make it a task on a regular basis, compiling a table of price dynamics and promotions.
Also use the section “Similar products from other manufacturers”, which Amazon itself offers you.
The second way to find your competitors is to use special tools, such as Helium 10 or Jungle Scout, which we already mentioned at the beginning of the text.
Tip! Become an active participant in various forums, channels, and social media groups dedicated to Amazon trading. They can give you useful and interesting information about competitors and the niche.
Now that competitors have been found, it's time to start analyzing. Let's break it down point by point.
1. Search for popular keywords
Use special tools for this: Google Keyword Planner, Ahrefs or the built-in analyzer from Amazon. Determine which keywords others use to promote the listing. This will help you understand which queries are most popular among the target audience.
2. Analyze prices and promotions
To monitor prices, you may need Price2Spy or CamelCamelCamel. Also, study the ongoing promotions and offered discounts. This will help you find pricing errors, build a sales strategy and find a way to stand out from the competition without dumping and losing profits.
3. Evaluation of reviews and ratings
They play one of the most important roles in the buyer's decision. Use tools like ReviewMeta or Fakespot to analyze competitors' reviews. Identify their strengths and weaknesses and use this information to improve the quality of goods and services.
4. Holistic listing analysis
Pay attention not only to keywords, but also to where and how they are used. Analyze the length of the text description and what product advantages your competitors emphasize.
It is also important to compare graphic content: for example, the composition of photos and the presence of video. It has long been proven that the presence of infographics in pictures will bring you much more sales than a “dry” image of a product on a white background. Also, in many niches, the presence of models in the photo who demonstrate the result (athletes with “cubes” when selling stimulators for abdominal muscles or a happy woman who is wrapped in a soft blanket) has a beneficial effect on the buyer's attention. |
