Amazon is equipping sellers with powerful analytics tools to help optimize data-driven decision making and power long-term growth, the company announced today at its premier annual seller conference, Amazon Accelerate.
The enhanced analytics tools are meant to help sellers better understand their customers—what they’re looking for, what compels them to purchase, and how to grow their brand to reach new customers. With these insights, sellers will be able to better understand customer-purchasing behavior and the customer journey, from driving awareness and making a first sale, to building loyalty and repeat customers, and even post-purchase opportunities. Sellers can also now access integrated dashboards and actionable performance data that can be used to grow customer loyalty, optimize the shopping experience, and lower costs to ultimately drive sales growth.
“Understanding the needs and motivations of customers throughout their shopping journey is key to driving a successful growth strategy,” said Avinash Ravi, Director of Selling Partner Growth at Amazon. “These new enhanced analytics tools will help sellers more effectively capture customers’ attention at each stage of their shopping journey.”
Previously, independent sellers had to piece together the customer journey by compiling metrics from various reports, but the data was often incomplete or inconsistent, making it difficult to derive insights or know what actions to take to increase performance. With today’s announcement, Amazon now puts the data that sellers need at their fingertips, with actionable insights and customized recommendations to build long-term customer loyalty.
“A brand’s success depends on its ability to understand its existing and potential customers’ behaviors to engage the right customer at the right time with the right product,” said Ravi. “Amazon’s set of enhanced analytics tools better equip sellers to do just that.”
The enhanced analytics tools announced at Accelerate are meant to build on Brand Tailored Promotions, a tool launched last year to help sellers offer exclusive discounts to specific audiences. Since its launch, more than 100,000 sellers have created Brand Tailored Promotions, helping them engage almost 8 million new customers and motivating more than 15 million existing customers to make repeat purchases.
The analytics tools announced at Amazon Accelerate include the following:
Customer Journey Analytics
Customer Journey Analytics helps sellers spot trends and pain points at each stage of the customer journey so they can create strategies to optimize the shopping experience and improve conversions. This tool maps an end-to-end view of the customer journey, from awareness to consideration, to intent and purchase, helping sellers understand and more effectively engage with high-intent customers. Customer Journey Analytics gives sellers a centralized view of customer behavior metrics, including detailed page views, add-to-carts, review engagement, search and browse behavior, and purchase conversion. The benefits are multiplied when combining Amazon’s Brand Tailored Promotions and the Customer Loyalty Analytics tool launched last year, allowing sellers to analyze purchase patterns and perform tailored engagement to increase overall customer lifetime value.
Enhanced Audience Tailoring
Enhanced Audience Tailoring enables sellers to organize groups of customers based on their specific interests in certain products, helping them reach new customers and cross-sell new products to existing customers. With tailored product recommendations and customized blueprints, Enhanced Audience Tailoring is meant to help sellers reach customers who are ready to buy. Tailored promotions made to customers at the time they are considering a product have driven a nearly 3x increase in conversions.
Business Planner
Business Planner is a new AI-powered tool available today that helps sellers identify their biggest opportunities for sales growth and profitability, leveraging data across sales, traffic, and product-performance channels in an intuitive dashboard, making it easy for sellers to accelerate their success. Whether they want to boost sales, reduce costs, increase ad-attributed sales, drive more traffic to products, or build their brand awareness, Business Planner generates customized action plans to help sellers achieve their goals—and it continually refreshes to identify new opportunities as sellers make progress.
Custom Analytics
Custom Analytics is a flexible tool Amazon is piloting in the coming weeks that enables sellers to surface metrics from different areas of their business, including sales, traffic, inventory, and ads and deal performance—and build a holistic picture of what matters most to them. This tool provides custom insights based on those selections to explain how sellers can effectively use that data. Custom Analytics has pre-built templates for custom dashboards with intuitive visualizations that can help sellers make data-driven decisions for their business in Amazon Stores. It gives sellers the data they want, in the way they want it.
Mary Beth Westmoreland, Vice President of Worldwide Selling Partner Experience at Amazon, said the new analytics tools are the latest in a series of innovations from Amazon aimed at empowering sellers to build and grow thriving brands.
“We’re continuously investing on behalf of sellers to ensure Amazon is their first choice to launch and build a successful brand,” said Westmoreland. “We’re excited to keep innovating and developing valuable analytics tools that help give independent sellers more time to focus on the things that really matter: inventing new products, delighting customers, and achieving the next milestone in their growth.”