Selling on Amazon can be hard work but also very profitable if you know how to do it. PPC is one of the most common and effective marketing methods to make your business visible to the target audience, which is why you need to be very careful about how to do it. But, with all those ad formats, features, KPIs, and other metrics advertising on Amazon became more complex. And, all sellers really want to know when it comes to ads is their performance. This is done by comparing your and your competitors’ performance, i.e. benchmarking.
Since it’s almost impossible to get all those ad performance insights and numbers manually, you need to use a specific tool. In this case, that’s Sellics, or more specifically, its new PPC feature – Sellics Benchmarker Tool.
What is the Sellics BenchMarker?
Sellics BenchMarker is a new tool, still in Beta mode, that shows how your PPC ads perform compared to your competitors’ ads in a specific category within seconds. It provides you with benchmarks for the essential KPIs according to your industry and marketplace. When using this feature to compare your with your competitors’ KPI, you will get data on the ACoS, CPC, CTR, and CVR.
The data Sellics BenchMarker uses is based on a Sellics internal study on a sample of over $2.5 billion spent on aggregated Amazon attributed ad revenue per year.
Sellics BenchMark analyzes various key performance metrics, including:
Sponsored Ad Formats
If you are already selling on Amazon, you most probably know that there are 3 main advertising options:
- Sponsored Brands – CPC (cost-per-click) ads that show your brand logo, a customer headline, and several products. They appear in results that are relevant to your search for products, thus boosting your brand’s visibility.
- Sponsored Products – CPS ads that advertise specific product listings (of your choice) to boost their visibility to the target audience. They appear in the search results and on product pages.
- Sponsored Display – This self-service display advertising solution helps you scale your business on Amazon by engaging the buyers during their shopping journey on Amazon and out of it.
Sellics BenchMarker analyzes the performance of all these ad types and shows you which ads perform great and which need to be improved. It also tells you if you are using the right formats or not.
Sellics BenchMark rates your campaigns and provides you with a detailed score of your advertising efforts. The score is presented in the form of stars, from 1 to 5, with each having the following meaning:
- 1 star – at the bottom 20%
- 2 stars – at the bottom 40%
- 3 stars – between 40%-60%
- 4 stars – at the top 40%
- 5 stars – at the top 20%
The BenchMarker compares the Advertising Cost of Sales (ACoS), thus comparing the percentage of sales you made through sponsored ads to the median marketeer. It also shows you whether you are too conservative or on the right track. In this way, it will help you understand the profitability dynamics of your category.
Cost Per Click (CPC) Benchmark
This feature shows you how much other sellers pay for the same click. This will help you find the perfect bid, thus getting more clicks for a lower price.
Click Through Rate (CTR) Growth
To succeed on the market, you need to stand out from the crowd (your competitors). With ads being the best way to do it, you must choose your ad formats wisely. And, this feature helps you with that by showing you whether your ad formats outperform the market or not. In case they don’t, it will help you increase the chances of getting clicks.
Amazon Conversion Rate (CVR) Boost
Ads are powerful only if they convert target audience into customers. Although every potential customer goes through the buyer’s journey (the process of converting a potential customer into a buyer), it’s important to shorten the time of that journey. It’s because the faster the decide to buy something from you, the lower are the chances of seeing the same product sold by your competitors and buying that one.
WIth this feature, Sellics BenchMark shows you how fast customers take an action after clicking an ad. It also shows you whether or not your products are more bought than others. In that way, it shows you how to beat your competitors and convince potential customers to buy from you.
What makes Sellics BenchMark Report so impressive is that it’s free to use. Indeed, you get all those It can be accessed by any seller active in Amazon Advertising and has a minimum of 50 clicks in the last 30 days. It’s also free to use for Sellics users.