Most shoppers on Amazon go through a purchase journey driven by how ready they are to purchase as well as what type of product interests them at any given point in time. Therefore, intercepting these potential customers while they’re still browsing is crucial for brands. With the launch of Amazon Advertising Brand Metrics, the eCommerce powerhouse continues to enhance its advertising ecosystem to equip marketers and advertisers with the knowledge of engaging customers at every stage of their purchase journey.
What are Amazon Brand Metrics and how are they relevant to your eCommerce business growth? Let’s explore.
1. What Exactly are Amazon Advertising Brand Metrics?
Brand Metrics is a measurement solution that was recently introduced by Amazon. The solution supports the quantification of opportunities for brands at each stage of the shopper journey on Amazon. It enables eCommerce brands to gauge the value of multiple shopping engagements which have an effect on various stages of the journey.
By using Brand Metrics, Amazon merchants can gain access to critical insights such as awareness and consideration indices. Additionally, they can run a comparative analysis of their brand performance with that of their competitors by implementing predictive models involving sales and consideration.
2. What Do Brand Metrics Measure?
Brand Metrics measure all shopping engagements with a brand on Amazon. These shopping engagements are a sum of engagements attributed to ads and the total number of shoppers in the stages of awareness, consideration, and purchase for a brand. Another aspect of Brand Metrics is Return on Engagement. This metric measures the average historical sales following consideration and purchase stages.
3. What are the Benefits of Using Brand Metrics?
Tracking Brand Metrics is essential to gain clear insights into your brand health. In an increasingly competitive eCommerce landscape, brand managers and marketers should make it a priority to analyze the newly launched Amazon Brand Metrics to gain an edge over competitors.
More specifically, Amazon Brand Metrics can help you:
- Gain insights into your brand performance by gauging the total number of shopper engagements on Amazon.
- Assess your full-funnel targeting strategies and examine if they are contributing to a shopper’s purchase journey.
- Analyze relevant metrics to calculate the value of brand purchasers that contributed to additional sales one year after the initial purchase.
- Optimize your advertising campaigns on Amazon and adopt the right PPC strategy to increase shopper engagement and boost brand awareness.
Who is Eligible for Brand Metrics API Open Beta?
Brands must comply with the following requirements in order to be eligible for Brand Metrics API Open Beta:
- Professional sellers must be enrolled in the Amazon Brand Registry
- Vendors must be selling products in the following marketplaces: United States, Canada, United Kingdom, Germany, France, Italy, Spain, and Japan.
- Brands should have at least 20 or more orders a month to gain access to Brand Metrics
How Can I Get Started with Brand Metrics API?
Getting started with Brand Metrics API is contingent upon setting up an Advertising API developer account. Once this account is opened, you should obtain access to the Amazon Advertising account of an eligible advertiser. Once you have met these requirements, you can use the Amazon Attribution API to access profiles, publishers, attribution tags, and reports related to your advertiser.
Closing Thoughts on Amazon Advertising Brand Metrics
Amazon Brand Metrics is a newly launched measurement solution for brand marketers. Keeping a regular track of this metric can help inform your eCommerce strategy and set you apart from competitors that are still analyzing traditional and outdated metrics to inform their decision-making.
