A comprehensive understanding of the competitive landscape lies at the core of any successful Amazon strategy. As an Amazon agency, we begin our competitor analysis by identifying key players in our clients’ niches. This process involves more than looking at the top sellers in a category, we delve deep into various subcategories, analyze emerging brands, and even consider potential competitors.
Our approach to competitor identification leverages both Amazon’s internal search results and external market research tools. We examine sales rank, customer reviews, product offerings, and pricing strategies to create a holistic view of the competitive environment. By casting a wide net in our initial research, we ensure that no potential threat or opportunity goes unnoticed.
Once we’ve identified the key competitors, we conduct a detailed analysis of their product listings. This includes examining their titles, bullet points, product descriptions, and images to understand how they position their products and communicate value to customers. As part of our search optimization strategies, we also assess their keyword use.
Market research beyond amazon
While Amazon-specific data is crucial, as an Amazon agency, we understand the importance of looking beyond the platform for a more comprehensive market view. We extensively research industry trends, consumer behaviour, and emerging technologies that could impact our clients’ niches.
This broader market research involves analyzing reports from market research firms, attending industry conferences, and monitoring relevant news and publications. We also conduct our primary research when necessary, using surveys and focus groups to gather direct consumer insights. Combining this broader market perspective with Amazon-specific data, we help our clients anticipate market shifts, seize new opportunities, and stay ahead.
Competitive benchmarking and gap analysis
The most valuable outcome of our competitor analysis is the ability to conduct detailed competitive benchmarking. As an Amazon agency, we create comprehensive scorecards that compare our clients’ performance against key competitors across various metrics. These scorecards typically include factors such as:
- Product range and diversity
- Pricing strategy
- Customer review scores and volume
- Search ranking for key terms
- Brand Store design and effectiveness
- Advertising performance
- Customer service responsiveness
By systematically comparing our clients’ performance in these areas, we can identify strengths to leverage and weaknesses to address. This gap analysis forms the foundation of our strategic recommendations, ensuring our clients always work towards a stronger competitive position.
Identifying white space opportunities
While understanding the current competitive landscape is crucial, as an Amazon agency, we always look ahead to identify untapped opportunities. Our market research and competitor analysis processes are designed to uncover what’s missing rather than to understand what exists. We analyze customer reviews, Q&As, and community forums to identify unmet market needs or desires. By cross-referencing these insights with our broader market research, we identify white space opportunities and areas where current offerings are not adequately meeting customer demand.
These white space opportunities lead to the development of new products, the expansion into new subcategories, or the repositioning of existing products to better meet customer needs. With our help, our clients can capture new markets and differentiate themselves in the marketplace. By partnering with an amazon agency that prioritizes comprehensive competitor analysis and market research, brands gain the insights they need to compete and excel on the world’s largest e-commerce platform.
