How to analyze amazon’s competitors?
While you won’t be competing with all of Amazon’s five million marketplace vendors, you will be competing with some of them. That is why conducting an Amazon competitor study is critical since it gives your company an in-depth examination of your competitors. Are you ready to discover how to do an Amazon competitive analysis in simple steps? You can learn about Zonbase for more information.
Advantages of a competition analysis on Amazon A competitive examination of Amazon may be a lot of work. Is it indeed required? Is there anything to gain from this?
- Make sure your pricing plan is cost-effective.
- Learn how to tailor your messaging to make your product stand out from the crowd.
- Make informed portfolio sourcing decisions.
- Keep track of your profits and results.
- Make sure that your prices are reasonable.
- Examine the product lists of your competitors.
Begin your competitor study by collecting a list of your competitor’s products in a Google Sheet, which you can then share with your team for quick reference. From the title and description to the photos, you may rate every aspect of a product listing here. It would be best if you concentrated your audit on the following areas:
- Title of the product: Examine the product title against Amazon’s suggested format of Brand + Model + Product Type. Next, consider the product title from the standpoint of a customer. Is it well-written and free of price tags and advertising messages?
- Features of the product include: Next, look at the product features located to the right of the product photographs. What unique selling features (USPs) does your competition emphasize, and how do they?
- Description of the product Now, it’s time to move on to the product description. What additional product information does it supply, and what information does the seller omit? Is the material delivered in an original, easy-to-read format?
- Q&A on the Product: Look over the product’s questions and answers (Q&A) section. Is the vendor involved in response to the shopper’s questions? What types of queries do customers have, and how can you use this information to improve your product listing?
- Images of the product: Return to the product listing’s top. What kind of product photos does the listing include, and how good are they? Do they have product photographs that your team might recreate, such as those demonstrating how your product is used?
- Examine the branding of your competition.
Following your audit, you should evaluate the branding of your competitors. This stage in an Amazon competition study is typically overlooked, but it can explain why customers select your competitor over you. You can examine branding in a variety of ways, including:
- Examining the tone and vocabulary used in the product description, features, and Q&A
- Take a look at the angle and technique employed in the product shots.
- Investigating the packaging, design, and labeling of the product
- Analyzing the structure of A+ Enhanced Marketing Content or Enhanced Brand Content
Spend 15 to 30 minutes researching your competitors’ brands, and you’ll have a solid notion of what they’re all about. Maybe they’re laid-back with a sense of humor or direct and to-the-point with a keen eye for detail. In certain circumstances, your branding may be similar to your competitors – or it may be completely distinct.
If your brand is opposed to your competitor’s, consider whether you have the same target demographic. Perhaps they’re going after corporations with their fact-based approach, while you’re going after consumers with your humor-first strategy. However, with millions of sellers, you can be sure you’re up against a direct rival on Amazon.