How to Judge Search Terms versus Your Competition

Brian Johnson.m4a [ 00:00:00 ]I'm Brian Johnson, and I'm here at the BDSS Market Masters Think Tank. And today I'm going to be talking about how to judge how your products and your search terms you're going after are positioned relative to your competition. The first thing we're going to do is we're just going to go inside of Seller Central. You're going to go into Brand Analytics, and you're going to find your Search Query Performance Report. Inside your Search Query Performance Report, you're going to do an ASIN report. In other words, you're going to start with your number one hero product and put that into the Search Query Performance Queue and bring back the results. And then I'll show you now what you're going to compare. [ 00:00:40 ] So the primary things that we're going to look at here when it comes to your relative performance on the key metrics for search is going to include your impression share, there you go. Say impression share. Impression percentage. We're going to have the click rate, relative click rate, and then relative conversion rate. What we’re looking for specifically is the benchmark against what most of the competitors who are going after the same search terms are also performing, so that you know, okay, am I performing better or worse than most of my competition, most of my competitive set? So what we'll do is for inside of Search Query Performance for impression share, there’s actually an impression share or an ASIN impression share percentage metric. And I think that's just going to be ASIN share. [ 00:01:50 ] And that’s primarily for the impressions. So you’re looking for the ASIN share percentage. And that one's already calculated for you. You don’t need to do any math. You can simply do it. You can simply just see how that is. And what you're looking for is, for every single search term that Amazon recognizes that you're getting clicks for in organic search for your product, you'll know, okay, am I getting a lot or a little relative to the competition? So you can look at ASIN share percentage to know how much of visibility is that particular product getting on the search terms that Amazon is recognizing you're getting clicks for in organic search. That way you know. Okay, am I, do I have a high amount of presence relative to the total competition and the rest of my competitive set or do I have just a small amount and you'll see which search terms specifically are strong or weak as far as how much impressions they're actually getting. [ 00:02:44 ] Next thing we're going to look at is engagement click-through rate. So with click-through rate, what we're going to look at is you're going to compare the ASIN click count versus the total click count. So that's going to be, oops, let me bring it down here. Oh yes, that's beautiful. Love it. All right. So it's going to be, uh, the ASIN click count, and that's going to be against the total click count. Okay. So what this is saying is that you're comparing your own product on each search term. You're comparing your own product against, uh, as far as how many clicks. Yeah. That you're getting against what the total is so that you can also see which search terms specifically have an above or below average click-through rate. [ 00:03:37 ] In other words, which of my search terms for my product are getting as much, uh, engagement or as much click-through as maybe I think, or I want them to be. When you see weaknesses, you can certainly work on, okay, maybe, maybe there's something wrong with my images or my title or something about my product on, on search that I'm not engaging shoppers in order to click through, uh, through to, but it at least gives you a benchmark. As far as how you are compared to your competition, the critical one that I definitely need you to know is, in fact, let me bring this over here is going to be the conversion rate. Excuse me. So with the relative conversion rate, the math that we're going to do on that is going to be, uh, let's see here. [ 00:04:22 ] So it's kind of doing the, doing the, doing the math in my head. So it's going to be the. Uh, the ASIN, oops, ASIN purchase count divided by the ASIN click count. Okay. That's going to give you your conversion rate of your specific product for that specific search term, and you're going to subtract or minus the total purchase count and as you might have guessed, divided by the total click count. That's going to give you, uh, the conversion rate. Now, what is this going to give us? So we now know what our conversion rate is, uh, in organic search for that particular search term for this product. And now we also know what the, what is the average, in other words, middle of the line average, uh, competitor who is also getting conversions and getting clicks. [ 00:05:51 ] What the average conversion rate is for your competition. And if you subtract what the conversion rate is. you have, let's say you end up with, let's say you get, let's see here, a 5% conversion rate for that particular search term for conversion rate. Yeah, for the conversion rate. And then let's say the total average is a 10%, right? Then what you see is there's a negative 5% disadvantage that you have for that particular search term for your product. Now, that either means you need to go back and fix your product, or maybe that's not a search term that you need to be investing in dollars into trying to force ranking for, or some kind of ad promotion for. You want to simply lean into where you get a positive. [ 00:06:45 ] So let's say you actually have a 15%, then what you end up with is a positive 5%. So in those cases, you have an advantage for that particular search term for your product against most of the competition. Now you're not necessarily beating the top players, right? The top three or top five, but you're beating most of that product niche, which gives you an advantage. That's where you lean into with your ad spend. That's where you lean into with your promotion and your listing optimization. That leaning into those will give you an advantage as far as each of those search terms. Now that includes as far as, so what we went over here is we went on as far as understanding impression share. Okay. We talked about click-through rate or engagement, right? [ 00:07:35 ] And we talked about conversion rate relative to your competition specifically for search. So those are, those are three key ones you can do yourself right inside of Search Career Performance, inside of Brain Analytics. If you want to go even further than that, then it does require a lot of data analysis and technology. So if you want to go even further than that, then it does require a lot of data analysis and technology. That's kind of where my company comes into play. Then there's actually about, there's another 30 such key metrics, ranking factors, as we call them, Search Rank Factors that you can actually study and know exactly where you are positioned next to your competition. So, you know where your strengths and weaknesses are relative to your competition. And that one, we just, that's available through my company, which is just DeepEm.ai. There, you have it. So, I'm Brian Johnson, and I am with DeepEm.ai, and come visit me there.