Best practices in Amazon market research

From consumer research to turnover, from best-selling products to reviews. Here is a list of best practices to consider when doing market research on Amazon.

Are you thinking of selling on Amazon, pitching your products to top sellers in the industry, or using the platform’s useful data to apply to your business? Then you definitely need to know the best practices in market research so you can see if you are getting useful information for your business.

Let’s preface this with the fact that if you want to do it on your own/on your own, you need software and appropriate knowledge to use it, which we can teach you with our CMI Academy.

If, on the other hand, you want to rely totally on our market research agency (a recommended choice both in terms of savings and in terms of the clarity and quality of data you will have at your disposal!) you will receive a‘ interactive and personalizedmarket analysis , which allows you to dig deep into information and find clear answers to your questions.

Click here to see an example of our market research on Amazon!

That said, let’s go on to see the structure of a perfect analysis.

Here are the best practices in Amazon market research: take note!

Good market research on Amazon is based on finding information about these pillars:

1. User searches
2. Best-selling products/brands, prices and revenue generated
3. Salespeople and logistics strategies
4. Reviews

Each pillar gives you key information you need to gather to know how to sell on Jeff Bezos’ platform (and beyond!). Best practices are, therefore, the clear and immediate search, extraction and processing of data related to these pillars.

Let’s see what information we are talking about!

1. User searches: why are they the starting point of market analysis on Amazon?

Knowing what customers are looking for on the platform gives you insight:

• what needs people want to satisfy (and you can leverage them in your marketing strategies);
• what users want to buy and what products they like most (you can also investigate why they prefer one product over another);
• what words consumers use to search for the products they want or are considering buying. You can use the same terms to titular and describe your products, both on Amazon and on other platforms such as your website and social. In this way, people will find you more easily and the various search engines will push your products higher.

… And much more information!

Investigating customer behavior allows you to adapt to their needs, approach them, and make the right choices regarding communication and sale items.

In addition, knowing consumer searches on Amazon paves the way for you to find information on other pillars (best-selling products and brands, sellers, and reviews).

These are closely related topics. It is precisely on people that the items, brands, and retailers that sell the most depend. Whereas reviews are exactly the index of what the same people think and prefer!

Read also: Amazon market research? Here’s where to start (if you’re not a Multinational)

2. Best-selling products and brands, prices, and revenue generated from sales in your target industry.

The second good practice of Amazon market research is to understand which items and/or brands are the most searched and best-selling, the prices of various products (both average and minimum and maximum price), and the revenue derived from sales of a given product category.

Informing yourself about these issues allows you to do this and more:

• Knowing whether to invest (or continue to invest) in certain products and which ones to avoid
• add new items to your assortment
• improve your pricing strategies
• identify the salespeople who bill the most in a given industry, perfect if you operate in b2b and want to find new customers or if you want to figure out who your fiercest competitors are
• Consider whether or not to sell your product online, whether on Amazon or another platform
• Figure out what to sell online (if you don’t have a clear idea) based on the best-selling products on Amazon

In general, having this information allows your business to grow in your target market and helps you make the right decisions for your investments.

3. Salespeople and logistics strategies: here’s why you absolutely must know them.

If you are a b2c seller, having accurate data on the best sellers of a product or product category (and their logistics strategies) helps you learn more about competitors’ strategies and act accordingly.

Alternatively, if you want to find a distributor of your products, having this information helps you find and pitch yourself to retailers who would best sell your brand.

4. Accurate data on consumer reviews-a key part of your Amazon market research.

Amazon market research best practices certainly cannot include the feedback your target customers leave with your competitors or, if you operate in b2b, your potential customers/collaborators.

Knowing people’s opinions allows you to docompetitive analysis confined to Jeff Bezos’ platform. Here, in fact, is how you can use the data:

• you can understand competitors’ strengths and weaknesses and do better
• you have the opportunity to know what your customers like and dislike, and act accordingly

On the other hand, if you are looking for the best distributors for your brand, you have the opportunity to find out how good they are just from the feedback expressed by their customers.

Read also: How to identify the most popular products in the marketplace by leveraging Amazon to your advantage

Would you like to receive interactive market research that includes these and other aspects?

With our interactive market analysis dedicated to Amazon you can know:

• How much is your category worth online (is demand increasing or decreasing?).
• Top selling products
• The price of top-selling products (and how many pieces are sold per month)
• How many vendors deal with the same product
• How many retailers have the Buy Box on Amazon
• The most sought-after products on the market
• The most frequent keywords in the titles of product sheets

Use this information to your advantage to grow your business, adopt the right marketing strategies, or launch your online business with certain information in hand.

What are you waiting for?

Contact us now to request a personalized consultation! We are at your disposal!