29 Sep How to Do a Competitor Analysis on Amazon
- Conducting an analysis of the competition on Amazon is essential to design a marketing strategy that highlights the value of a certain product.
- Identifying the keywords for which they position, knowing how they relate to their customers, observing how they sell their items and at what prices is key to establishing a truly competitive proposition.
A multitude of brands compete on Amazon to make their products the best sellers. This fact makes it necessary that, in order to plan the right marketing strategy, it is necessary to carry out an analysis of the competition on this platform.
If you want your business to take off successfully on Amazon, you need to know what products other sellers are offering your target audience and how they are doing it. Only then will you be able to create a value proposition that highlights your competitive advantage and is attractive to your customers.
Whatever industry you work in, you’re always going to have to deal with companies that market products similar to yours. If you want your items to rank on Amazon above the rest, you need to make sure you’re targeting your content and ads to the right keywords.
If at first you don’t know who your direct competitors are on Amazon, the easiest way to identify them will be to carry out different searches on the
. You can get a first approximation by entering generic keywords into the Amazon search engine, first, and then keywords of type Long-tail. For the first searches, you will find many more results and you will see that the competition is very high. However, for the latter, the number of results is considerably reduced.
So, for example, if you wanted to offer designer furniture for the home, you would start with broader terms such as “furniture” or “designer furniture”. And you would follow up with more specific terms such as “modern designer living room furniture” or even “modern living room furniture for television”. Really, it will be these last results that you should focus on.
keywords. You’ll find the brands that share those terms with you and offer the features most similar to your actual products. The items that Amazon ranks on its first page will belong to the competitors you’ll need to research.
If you want to know more about how to do keyword research on Amazon, click here.
Analyze your competitors’ products
Review the listings of the most relevant products in your category, enter their files and find the weaknesses of your competitors. Check if they provide specific information in each article, detect if the images are appropriate, read all the reviews and take into account their ratings. Pay attention to every detail and come up with ideas that will inspire you.
Keep an eye on prices
Compare the price of your products with those of your competitors on Amazon. Price is a key factor that has an impact on the purchasing behavior of customers who, when faced with products with similar characteristics and ratings, opt for the cheapest option.
The price of your competitors is a fundamental parameter that you will have to take into account to position an item as
within your industry. Making the right decision and setting competitive prices will lead to an increase in your sales and, therefore, will have a direct and rapid impact on the profitability of your business.
In addition, the price will be the most determining factor in getting the Buy Box. In fact, 82% of sales occur in the Buy Box and only 18% of users decide to compare more options.
Here’s what the Buy Box is and how to win it.
See how they market their products
How does your competition present itself on Amazon? Take a look at the the packaging
you use, the images you present, the texts you write, the content of your A+, the tone or style you use to address customers.
Also see what their marketing strategies look like both on and off this platform. If they have a presence on blogs or social networks, you should analyze what their publications are like, how often they launch their publications. posts
, what kind of profile their followers have or what their level of engagement
Gather as much information as possible about your competitors and study how you can differentiate yourself from them.