To have the best chances of succeeding on Amazon, it is vital to track and understand the behavior of your competition. With new competitors entering the marketplace daily, having up-to-date knowledge of their pricing techniques, production sources, product quality, and marketing plans is critical. Careful study of the content of their listings will also give you an advantage. Analyzing the competition is essential to achieving success on Jeff Bezos’s platform. You give yourself an edge by developing a comprehensive understanding of your competitors’ business. In this post, we will look at ways to identify, define, and analyze your competitors on Amazon. Once you have completed this article, you will be equipped with the tools to keep yourself ahead of the competition.
What is Amazon Competitor Analysis?
To begin, let’s define – what is Amazon Competitor Analysis? Analyzing your Amazon competitors involves identifying and understanding the products that compete with your own. This means completing extensive research to decide who your competition is, their marketing schemes, goods, and other essential data.
A thorough Amazon Competitor Analysis is necessary to gain key insights about what your competitors are doing well, how to improve your business tactics, and how to defeat them. Reviewing your competitors’ businesses will assist you in spotting their shortcomings and spaces in which you could take advantage. To surpass your competitors’ achievements, you should create objectives and analyze their success. However, conducting an accurate competitive analysis necessitates more than a quick look at their website or social media account. It requires exploration to acquire precise and trustworthy data.
It is also important to clarify the difference between a market analysis and a competitor analysis. Market research involves pinpointing and evaluating certain market segments to direct and position your goods or services to provide what customers need. In contrast, competitor analysis is a critical procedure that businesses carry out to get an understanding of the possibilities and threats that are present in their industry. By assessing the strengths and weaknesses of their competitors, businesses can create successful approaches to remain superior to their competitors and remain pertinent in the marketplace.
How To Do Competitor Analysis On Amazon
The next question is, «How to Conduct a Competitive Analysis?». Follow these essential steps to do it.
Identify your Amazon competitors
Begin the process by figuring out who your competitors are. Carry out searches utilizing relevant keywords on Amazon, which will enable you to figure out which businesses are currently in charge of your item category. Survey the first few pages of the search results and take note of any patterns, such as the regular number of reviews, the quality of product descriptions and images, and which brands are foremost in the sponsored adverts. This tactic will help you find out what level of competition exists and provide some ideas on how to position yourself in the market. Additionally, it’s a good suggestion to gauge the number of variations for a particular item. If there are too many, it may be wiser to avoid selling such items.
Analyze keywords your competitors rank for
Analyzing the keywords competitors use on their product pages is integral to Amazon Seller Competitor Analysis. This should include looking at what words have been used most often, as this will make a difference in a product’s ranking. With this knowledge, you can make adjustments to the keyword information found on your product page, which will raise your visibility, optimize your back page and help you to stand out from other sellers.
Audit competitors’ listings
You must conduct a comprehensive audit to research your competitors’ listings effectively. Looking into your competitors’ listings will help you identify any possible imperfections, such as low-quality images, missing product data, or low ratings. Using the information you gather from analyzing your competitors’ listing optimization, you will make improvements to your own listing, giving yourself the upper hand.
As you audit your competitors’ listings, make sure to pay particular attention to the following components:
The product’s title informs purchasers about the product and indicates to Amazon’s A9 search engine the object’s connection to a buyer. Pay attention to the keyword phrases the top competitors have in their titles. Are there any particular words that you can append or remove to refine your title? Are your competitors omitting material that people need to know straight away? These are multiple considerations to ponder when forming a potent label for your product.
Analyzing your competitors’ bullet points and descriptions will also provide insight into the tone, features, advantages they highlight, and any helpful information that may be missing. Utilize this information to create more informative and persuasive bullet points and descriptions. Remember to keep the information concise and avoid using filler words that aren’t useful to the customer.
When it comes to selling your products on Amazon, having quality photos and visuals is essential since shoppers can’t interact with the item before buying. It’s significant to check out your competitors’ primary images and search for strategies to make your image appear unique in the search results.
Examining what customers say about your competitors’ items is another route to recognize deficiencies in their products and listings. Utilize these issues to feature the benefits of your product. Besides, surveys are a great source to understand the keywords that your intended interest group may use.
For instance, pay attention to underlined sentences in reviews that point out the product’s problems. You will use this data to convince your customers that your product doesn’t have such issues and is the better decision. Besides, where there are negative reviews that refer to insufficient client assistance, that is a chance for you to improve and stay away from similar slip-ups later on.
Before beginning your Amazon advertisement campaign, you have to study your competitors’ Amazon campaigns. You need to ensure that your own advertisements cost the same or slightly more per click than other merchants in your industry. Taking advantage of pertinent applications, you will scope out other sellers’ Amazon campaigns and determine the keywords they are using to target ads, as well as the search volumes of those keywords. Moreover, seek out other sellers who run ads on Google Shopping. To do this, simply enter one of your primary keywords on Google to find out if any Amazon products appear in the Google Shopping ads section.
Analyze website & social media
To grasp the competition, it is essential to look into your competitors’ websites and social media accounts. Through researching their digital presence, you will determine improvements that can be made to your own website and social media accounts. It is crucial to evaluate their user experience, aesthetics, and forms or pop-ups for providing information or offers.
Keeping tabs on your competitors’ social media will give you valuable intelligence on what type of content they publish, the platforms they prefer, and the amount of audience response their posts garner. This is particularly significant when your target demographic is youth who are active across social media. By studying your competitors’ social media approaches, you will augment your presence on social media and bring more natural traffic to your Amazon listings.
Best tools used to perform Amazon competitor analysis
If you want to keep up with the competition on Amazon, you don’t necessarily need to go through the pesky job of studying tons of product pages or examining sales data. Instead, take advantage of useful tools for competitor analysis.
Jungle Scout is one of the most popular Amazon seller software on the market. It offers sellers instruments to enhance their income and product info and pinpoint money-making items, manage stock volume, and decipher their rivals. Jungle Scout has both a web application and a Chrome extension, which supercharge the analysis activity.
- Highly popular and extensively utilized
- Versatile pricing choices catering to various budgets
- Outstanding research and analysis tools for products, niches, and markets
- Ideal for newcomers and experienced sellers alike
- Absence of a free trial option for Jungle Scout
- Inaccurate data pertaining to profitability and finances
- Given its widespread usage, your data may be visible to numerous users, albeit with privacy measures in place
- Certain features within Jungle Scout are presently restricted to the U.S. marketplace only.
Seller App serves as a valuable tool for Amazon sellers, enabling them to conduct profitable product research for the Amazon marketplace. It empowers users to identify top-selling items in various categories, analyze competition, gain insights into Amazon’s top sellers, including their keyword rankings and traffic volume. Additionally, Seller App offers convenient features like real-time price and inventory tracking, along with an Amazon repricing tool.
- Seller App provides a generous 7-day free trial with full features.
- Potential users can avail of an online demo guided by Seller App specialists before committing to a plan.
- The user-friendly interface makes it accessible even for novices in the Amazon business.
- Limited to only two available plans.
AMZ Scout is a software designed to assist Amazon sellers in discovering profitable products and analyzing their competitors. It boasts user-friendliness and has been instrumental in the growth of numerous successful sellers. AMZ Scout equips users with up-to-date pricing information, reviews, inventory levels, and more across various product categories, enabling them to focus on expanding their businesses.
- An affordable tool for Amazon product research.
- The Amazon Seller’s Bundle is priced only slightly higher than the Pro Extension.
- Provides accurate sales data.
- Not as comprehensive as some other alternatives.
Viral Launch serves as both a software and marketing platform, offering valuable assistance to Amazon sellers aiming to expand their businesses. This comprehensive toolset encompasses Amazon product research functionalities, enabling sellers to effortlessly identify profitable products for sale on the platform. With its user-friendly interface, Viral Launch accommodates sellers of all experience levels, delivering accurate results efficiently. The platform also includes an array of tools, such as market intelligence, keyword research, competitor analysis, and listing analysis.
- User-friendly interface facilitates ease of use.
- Viral Launch offers a generous 14-day free trial.
- Includes a Chrome extension for added convenience.
- Not the most cost-effective option.
Zoof stands out as a promising new Amazon seller software platform featuring a range of exceptional features. It has quickly become one of the favorite tools for Amazon product research and competitor analysis. By leveraging a tool that filters out irrelevant noise, Zoof provides access to accurate and comprehensive data, allowing users to make informed decisions. It helps users identify opportunities that may have been overlooked by other tools and makes product selection decisions more informed than ever before.
- Zoof derives its data directly from Amazon, ensuring reliable and trustworthy insights.
- All-inclusive monthly subscription at an affordable price.
- Free 14-day trial available.
- Includes a reverse ASIN tool and a Chrome extension.
- Limited support only for the U.S. marketplace.
What is Amazon’s competitive advantage for a seller?
Doing Amazon Sellers competitor analysis is beneficial for online stores. Analyzing competitors helps sellers make well-considered decisions when searching and sourcing products for their shop, allowing them to have a robust and cost-effective pricing policy. Also, they enhance their advertising plans, keep a check on their advertising costs, and shrewdly manage the performance and profitability of their store.