Selling online is not just about listing products and shipping items. Any Amazon store who wants to attract buyers and grow its customer base needs to have an extensive background in strategy. Effective research helps aid these sellers in optimizing their pages to reach the right people at the right stage of their buyer journey.
One of the biggest and most significant aspects in marketplace strategy is competitor analysis. Creating a benchmark from your competitors’ strategies can help sellers boost their own efforts.
While It may seem like an overwhelming task, there are tons of tools in the market that assist with easy competitor analysis. Here are three programs that Amazon sellers frequently use on their online stores.
Jungle Scout is considered as one of the most efficient programs for competitor analysis. It’s a Google Chrome extension with features that include merchandise research with enhanced filters to bring information for tracking and comparison. The data that it produces is extremely helpful for identifying insights and planning for business growth. Users have convenient access to the analytics, estimates, and movement of the competitors, including information on their monthly sales and pricing.
An all-time favorite among Amazon sellers, AMZ Tracker offers a vast array of options such as keyword searching and negative review alerts. It’s effective at tracking keywords, conversions, URLs, and negative feedbacks. One popular feature is the tool’s ability to notify sellers when another store tries to steal their listing. Indeed, it’s a powerful option for sellers and covers almost every function needed to produce a detailed competitive analysis report. It is, however, leaning a bit more on the pricier side: One-week trial period followed by a monthly charge from $50 to $400.
For beginner sellers, Sellics has the easiest interface to navigate. While it banks on intuitiveness and easy UI/UX, it doesn’t compromise the strength of how it crawls data. It’s convenient for running keyword optimization and has impressive features for keyword research, rank tracing, analytics, performance history, and product information. Users are often surprised at how well it can track price history and volume – two crucial elements in every competitor analysis report.
Which tool should you choose?
Any business investment should fit perfectly with the organization’s needs and demands. Amazon competitor analysis tools are no different.
When choosing between a ton of options, always go back to the main question: “What does my business need right now?” When you look at it from a business standpoint, you’ll find that your budget, plans, technical know-how, and strategies all align with one tool more than the other. That, then, will give you your answer.