Brand Analytics is an Amazon data analysis tool for brand sellers, who must have a brand registry on Amazon.
Brand Analytics provides the following three types of data reports:
· Amazon Search Term Report
· Market Basket Analysis
· Item Comparison and Alternative Purchase Behavior
So how to take advantage of Market Basket Analysis to increase the chance of products appearing in "Frequently bought together"?
What is Market Basket Analysis?
Market Basket Analysis is a method of tracking the purchase behavior of consumers and understanding what customers often buy together when they buy your products.
Sellers can look up data over a period of time, such as quarterly, monthly, or daily. After selecting the time, the Market Basket Analysis report will show the three products that consumers most often buy together within the time range.
The report provides the percentage data for these three products, that is, percentage of orders that contain both your product and the #1 purchased product in comparison to the total number of orders that contained at least two different items including your product.
Note: The report does not explain why consumers buy these products together.
In general, most of the products in this report are complementary to the seller’s products (such as complementary products that may be provided by competitors); or similar products, such as consumers buying similar products from multiple brands to determine which brand they like the best, but this is rare.
How to make products appear in "Frequently bought together"?
So how can sellers use the data in this report to increase the chance of their products appearing on the "Frequently bought together" page?
"Frequently bought together" is data automatically generated by Amazon based on customers’ purchase behavior. Sellers can use the data in the Market Basket Analysis report to create specific product campaigns to increase the probability of your product appearing in "Frequently bought together". The specific steps are as follows:
1. Create a sponsored product campaign
Click “Campaign Manager” in the background and select “Create Campaign”:
2. Create an ad group
After naming the campaign and setting the budget, create an ad group, and select the targeting type of “Product Targeting”:
3. Enter ASINs
Browse your Market Basket Analysis report to find ASINs that are frequently purchased together with your products, and then enter these ASINs in “Individual Products”:
4. Set up the bidding
When setting the ad group bidding, try to keep it as low as possible:
5. Improve the bidding of product page placement
Note that it can only be set in the campaign, not in a single ad group. This is the function provided by the campaign to adjust bids by placement:
“Fixed Bids” is recommended when choosing the campaign bidding strategy.
The principle of this ad is that the Product targeting type will make your product appear on the same page as the target ASIN.
Putting your product on another product’s detail page increases the chance that your product will be bought together, which in turn increases the probability that your product appearing in "Frequently bought together".
In addition, the Product targeting type was chosen because of the low advertising cost.
If you select the Keywords targeting type and your product is far different from the target ASIN keyword, for example, you sell bananas and the target ASIN keyword is avocado, then Amazon will charge you a higher advertising cost.
Even if you cost a lot of money to make your products appear in search results, it is easy to have low conversion rates because the product is not related to the search term.
6. Check the report regularly every month
Once you've done these steps, check the Market Basket Analysis report monthly(schedule email) to see if there is any new ASIN, and then repeat steps 3-5 above.