Every entrepreneur needs to know what works for their business and what doesn’t. And when it comes to Amazon marketing campaigns, it becomes extremely crucial to track and monitor your performance. The reason behind this is simple, if you ignore monitoring the performance, you may end up wasting your valuable budget on the things that don’t even work. This is where certain KPIs (Key Performance Indicators) become useful. In this guide, we will discuss some great metrics for tracking your Amazon marketing performance. Let’s begin!
Monitoring Amazon marketing performance is important for every business.
The Importance of Tracking Amazon Marketing Performance
The importance of monitoring Amazon performance is clear. First of all, Amazon has set very high expectations for its sellers because customer experience and satisfaction is everything for them. It is very obvious that they want to allow only the trusted and reliable sellers to use their platform and hence, you need to be a good seller from this aspect. You can also visit this site to learn some tips from the best amazon sellers in this regard.
Secondly, to make your products visible and unique among the thousands of their kind, you need to pay attention to Amazon marketing strategies. The best way to do this is to hire the best Amazing marketing company who will take the full responsibility of marketing your products and ranking them on the top of product listings.
By understanding your marketing performance metrics, you can track your effects and look at the areas that need more improvement. Finally, tracking your marketing performance will help you boost the overall performance of your marketing campaigns and ensure that you attain the success of your business by fulfilling your marketing objectives such as higher conversions, better sales, etc.
The Most Important Amazon Performance Metrics to Track
1. Unit Session Percentage Rate or Conversion Rate
Tracking the conversion rates is one of the easiest ways to monitor the performance of your Amazon marketing campaigns. These are the first performance metrics used by your Amazon marketing company. A high conversion rate shows that your marketing campaigns are working and your product is doing well. On the other hand, a low conversion rate indicates that you need to change or improve your marketing strategies to get better results.
Although Amazon won’t suspend your seller account due to the low conversions, it is in your best interests to keep the conversion rates high by planning and executing the best marketing strategies and a professional Amazon marketing company will help you in that.
2. Product Ranking
This is another crucial metric you should monitor on Amazon. The thing about Amazon buyers is, they are there to buy something specific. A majority of users use the search feature to find the product they’re looking for. Another fact is, a significant percentage of buyers don’t prefer scrolling past the first page results and this is exactly why product rank becomes crucial.
You need to aim for the top /best seller rank within your product category so that you appear on the top page results.
You can easily track your product rankings using the Amazon seller metrics.
3. Customer Performance Metrics
Customer performance metrics is another way of tracking Amazon marketing performance. These metrics are used by each seller to take a look at their strong and weak points.
Here you need to keep an eye on the returns and non-returns.
There is a certain return rate which if exceeded, Amazon will close your listing because it thinks your products don’t belong to the platform and people aren’t liking it.
4. Traffic Volume
This is a brainer; If your marketing campaigns are performing well, you’ll definitely gain a handful of new customers. This will result in better sales and traffic on your product. However, if there is a customer drop-off or there is no change in your traffic volume, sales and conversion rates, then it is a sign that you need to hire a better Amazon marketing company.
The right Amazon marketing company will help you increase your traffic volume and gain visibility by designing and applying customized marketing strategies for you.
5. Ad Spend
The amount you invest in ads plays a good role in defining your performance. You may have good sales on a specific product and think that your marketing campaigns are doing well. But if you’re having a higher cost-per-click, you’re actually paying a certain amount to sell per unit of a product, which can turn your game upside down. The best Amazon marketing company will help you vet more sales by keeping your CPC to a minimum.
6. Badges
The orange badge signifies the Best Seller Rank. However, your aim shouldn’t be just to achieve this orange badge. You need to monitor your competitor’s badges. If they seem like they are stealing your title, you can decrease your product price for some time to ramp up your sales and get the badge back.
That’s all.
By using these performance metrics, you can easily track your Amazon marketing performance. Apart from considering these metrics, hire the right Amazon Marketing company that can plan and execute high-performing marketing campaigns for the success of your business.
