Use Brand Analytics To Steal Sales Back From Competitors
The goal of this post is to help you leverage Brand Analytics to target ASINs that are currently pulling traffic and sales away from your listings. Essentially you are fighting back against these ASIN's and pulling that traffic back to your listing and ultimately translating this into sales.
So lets get started!
First you need to start off by navigating to your Brand Analytics Dashboard. To do this just type the following into your browser:
Now that your on the Brand Analytics dashboard you are going to want to go to the section titled "Item Comparison and Alternate Purchase Behavior".
Set the Reporting Range to Quarterly and download all views as an Excel file.
Open the excel file you just downloaded. You will find two sheets of information. One sheet will contain "Item Comparison" data and the other will contain "Alternate Purchase" data.
Item Comparison: This section contains ASIN's that customers viewed who also viewed your product.
Purchase Behavior: Here you will find the most frequently purchased ASIN's by customers who viewed your product but purchased another.
Next we are going to create a pivot table to make it easier and quicker to copy and paste these ASIN into a new campaign in Campaign Manager.
To do this in excel go to insert pivot table:
Next structure the pivot table rows so that ASIN is on the top and all the Compared (or Purchased) ASIN's are below (there should be 5).
*Tip: Combine the two sheets into one so you only need to create one pivot table. Do this by copying one set of data and pasting under the other set of data.
Now looking at your newly created Pivot Table you should have your ASIN at the top followed by all the compared or purchased ASINs below.
Next we will proceed to set up a new campaign.
Find your way to Campaign Manager within Seller Central. Once in Campaign Manager create a new Sponsored Products Campaign:
Set your Campaign Name, Daily Budget (recommend $10-$20 to start), Start Date, Ad Group Name and set this to be a Manual Campaign.
Referring to your Pivot Table, locate the ASIN you want to advertise in your Campaign. Copy the ASIN and Paste it under products to search for this ASIN. Make sure you are only advertising 1 ASIN per campaign or Ad group (we recommend doing 1 ASIN per campaign).
In the bidding section leave the bidding as "Dynamic Down Only". Add a 30% bid adjustment for Product Pages:
Set your targeting type to Product Targeting.
Refer to your Pivot Table and select all the ASIN under the ASIN you are advertising and paste them into the Product Targeting field.
Lastly we need to calculate our default starting bid.
Using the suggested bid range as a guide:
Conservative Bid: Use the low end of the suggested range
Moderate Bid: Use the suggested bid
Aggressive Bid: Use the high end of the suggested range
More advanced options for calculating starting bids (I will not cover these in detail here as they can be a whole blog post on their own):
Use the historical average CPC across product page placements for the advertised ASIN. To do this you will need to utilize the Placement Report under Advertising Reports.
Use the following formula: Starting Bid = ( ( Unit Session Percentage / 2 ) * Target ACoS ) * ASIN Selling Price
Once you have calculated your default starting bids you are now ready to launch your newly created Product Targeting Campaign.