Amazon Black Technology: Teach you how to calculate your competitors' conversion rates

Amazon Black Technology: Teach you how to calculate your competitors' conversion rates


If sellers know the conversion rate of competitors, they can understand the market response of products, optimize listings, and adjust SEO strategies. So how can you get the conversion rate of competitors' products? The answer is to use Amazon's Brand Analytics report.


About Brand Analytics Reports


In early 2019, Amazon launched the Brand Analytics report. Sellers with registered brands can now view data that was previously only available to VC sellers. These data reports include:


Amazon Search Term Report
Brand Analytics provides a search term report (Amazon Search Term Report), including search terms and their search volume (to be exact, relative search ranking). There are three data points in it that we need to pay close attention to:

1. The top three ASINs in terms of clicks for each search term

2. Click share of each ASIN
3. Conversion share of each ASIN


When you search for a specific keyword, the report will provide the three ASINs with the highest clicks during the selected period. You can also search for an ASIN and the report will provide the search terms that brought the most clicks to that ASIN.


  
     
Market Basket Analysis
This report provides data on products purchased by customers, helping sellers find cross-selling opportunities.


Item Comparison and Alternative Purchase Behavior
What products did customers compare?


Legendary black technology


Of course, you can’t find your competitor’s conversion rate directly from the Amazon Search Term Report, but you can calculate it.


To calculate the conversion rate, let's first understand the click share and conversion share in the report:
       
Click volume share
Click share refers to the percentage of clicks received by this ASIN to the total clicks of the search term .
For example, in the above figure, the click-through rate of ASIN is 7.38%, which means that this ASIN accounts for 7.38% of the total clicks of the search term laptop.
       
Conversion volume ratio
Conversion share refers to the percentage of conversions obtained by this ASIN to the total conversions of the search term.


After understanding the definition
Let's see how to calculate the conversion rate with the help of these two ratios.
Let's look at a set of formulas first:


       


Assume that ASIN conversion rate ÷ ASIN click rate = X. So what does this X represent?


After a series of mathematical operations (review the math if you don’t understand), we can see from the above figure that the conversion rate of a certain ASIN is X times the conversion rate of a certain search term:

      

Let's substitute the following specific data for calculation

 

      

According to the previous formula
ASIN conversion rate ÷ ASIN click volume = X
We can calculate that X for this ASIN is 1.128


  • X=1, indicating that the conversion rate of this ASIN is similar to the average conversion rate of the word laptop

  • And X=1.128, which means that the conversion rate of this ASIN is 12.8% higher than the average conversion rate.



Calculate your competitors’ conversion rates


Note that this calculation trick only works if your ASIN clicks and conversions come from PPC and your ASIN ranks in the top three of the Amazon Search Term Report.


This may seem impossible, but when you first launch a new product, most of your sales will come from PPC because there is no organic ranking yet. So this is the best time to use this technique to calculate the average conversion rate and the conversion rate of your competitors.


Before making the calculation, you need to go to the PPC report to understand the sales and clicks of a certain search term for your ASIN.
Then follow the steps below to calculate your competitor’s conversion rate.

Assume that in the past week, the search term "Sneaker" brought 1210 clicks and 156 conversions to your ASIN. Your ASIN ranks first in the Amazon Search Term Report:

      

 

According to the previous formula
Your ASIN conversion rate is 22.36% ÷ 18.58% = 1.203 times the average search term conversion rate;
Your ASIN conversion rate is 156 ÷ 1210 = 12.89%;
Therefore, the average conversion rate of the word Sneaker is 12.89% ÷ 1.203 = 10.71%.


Then, based on the calculated average conversion rate, we can calculate the conversion rate of other ASINs in the report. For example:
The conversion rate of the second most clicked content = (11.81% ÷ 7.3%) × 10.71% = 17.326%.


.................................................................................................

By calculating the conversion rate of competitors, we can find the ASIN with the highest conversion rate, and then make a comparison to find out the reasons why this ASIN has a high conversion rate, such as whether it has a more favorable price, a higher rating, a better listing quality, etc., and then absorb the advantages and use them for our own benefit.


The above are the tips for finding your competitors’ conversion rates. Have you learned them?

It is recommended to save this article and slowly ponder and calculate it.



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