[Kenshoo] Retail Data & Advertising: Metrics to Think About
August 3, 2020
Here’s a glimpse of what you’ll learn:
- The 3 levels of metrics that brands should look at when selling on Amazon
- Kevin Weiss explains why brands need to pay attention to their Amazon review ratings
- How to know if your Amazon listing is retail ready
- Kevin’s advice to brands that have crossed the negative threshold rating of below 3.5 stars
- How to use inventory on hand with your Amazon advertising campaigns in order to avoid running out of stock
- Why you should keep an eye on your organic keyword metrics, and how to view your rankings on Amazon
- Kevin talks about Amazon’s average cost per click (CPC) metrics
- The importance of content score and Share of Voice (SOV) metrics for brands in the advanced level of selling on Amazon
In this episode…
For brands selling on the Amazon marketplace, there are a number of metrics to stay aware of. That’s because the more data and insights you have, the better you can optimize your product listings, improve your advertising strategies, and increase your sales.
According to e-commerce expert Kevin Weiss, there are three different levels of data point metrics to pay attention to, depending on where you are in your business: basic, intermediate, and advanced. These metrics guide brands through their journey on Amazon, from joining the marketplace to growing and scaling their businesses.
Kevin Weiss, the VP of Client Success for Ecommerce at Kenshoo, joins Eric Stopper in this week’s episode of Buy Box Experts to talk about retail data and advertising metrics on the Amazon platform. Kevin breaks down the most important metrics that brands need to look out for at each level of their selling journey, from review ratings to average cost per click. Stay tuned.
Resources Mentioned in this episode
- Buy Box Experts
- Kevin Weiss on LinkedIn
- Gradient Score
- Helium 10
- AMZ Tracker
- Viral Launch
Sponsor for this episode…
Buy Box Experts applies decades of e-commerce experience to successfully manage their clients’ marketplace accounts. The Buy Box account managers specialize in combining an understanding of their clients’ business fundamentals and their in-depth expertise in the Amazon Marketplace.
The team works with marketplace technicians using a system of processes, proprietary software, and extensive channel experience to ensure your Amazon presence captures the opportunity in the marketplace–not only producing greater revenue and profits but also reducing or eliminating your business’ workload.
Buy Box Experts prides itself on being one of the few agencies with an SMB (small to medium-sized business) division and an Enterprise division. Buy Box does not commingle clients among divisions as each has unique needs and requirements for proper account management.
Learn more about Buy Box Experts at BuyBoxExperts.com.
Welcome to the Buy Box Experts podcast we bring to light the unique opportunities brands face in today’s e-commerce world.
Eric Stopper 0:18
Welcome to the Buy Box Experts podcast. This is Eric Stopper. Today’s episode is brought to you by Buy Box Experts. Buy Box Experts takes ambitious brands and makes them on beatable. We’ve got a team of consultants and honestly everybody’s pretty bad at Amazon these days. In the probably hundred conversations that I’ve had this month with sellers. It’s always somebody weird taking care of Amazon. Not that they’re weird as a person but that like their job description doesn’t really fit the fact that they are managing their Amazon account. And that is troubling, right like they’re gonna be wasting resources that they should be spending on their normal as advertised job messing with all this crazy stuff in regards to Amazon, come and talk with us. Click on the free analysis button at buyboxexperts.com you’ll be connected with me or a member of my team. Looking forward to talking with you. This episode is part of a 10-part series we’re doing with the geniuses at Kenshoo. We thought to bring together our collective knowledge in a way that was fun and indispensable. Today I’m joined by Kevin Weiss, VP of client success for e-Commerce at Kenshoo. Kevin, what are we talking about today?
Kevin Weiss 1:27
We’ll be back and we are talking about retail data and advertising metrics you should think about there’s going to be a little something for everybody here and I’ve been really looking forward to this one. So you’re gonna jump in.
Eric Stopper 1:40
Yeah, this little this will be a good one. So um, most most of you three resellers. You never really mess with Vendor Central. The only thing you’re aware of is if you’re, you know, if you’re reselling on a listing and there happens to be a vendor presence on that listing. Vendor almost always wins right there buy box percentage is foreign and beyond anybody else that’s selling on that list. And then they typically make really cruddy listings, I’m not a big fan of the retail listings and the way that vendor central is managed is just a whole lot different. And so we’re going to kind of talk about, we’re going to toe the line between Seller and Vendor Central. And just try to equip you with all of the data points outside of like the campaign manager inside of, of your seller vendor Central, so that you can marry those two things together so that you’re not just looking at things in a in a black box. And Kevin has has already gone to the trouble of, of separating out kind of three levels of data points, metrics that you should look at, at different stages of selling on Amazon. So we’ve got the basic level, right, which is, you know, you’re just getting started. Maybe you’re new to Amazon, but not new to business, but you’re just trying to figure out the platform. There’s intermediate right where maybe you’ve made some money and by some stroke of luck You’ve made some profit. And then for the advanced sellers write lots of volume, lots of moving pieces, lots of different people on your team that are interested in this. And we just kind of want to go through each of these, which data points do you need to look at with your campaign data points to make the best decisions on Amazon and Kevin’s gonna walk us through a bunch of those. So why don’t why don’t we start with, with with basic, Kevin? Yeah,
Kevin Weiss 3:24
yeah, definitely. Thanks. Again, the premise here, right is like, you have the a lot of data available, like we use this expression data daily, right? There’s so much data, like the challenge is not whether there’s, there’s data, it’s what to do with it. And we get all this these data points. So So really, what we’re talking about here is we’re talking about there’s there’s data that you get from Amazon when you’re in these campaigns, or when you’re in these ad groups, or you’re in the search term reports. There’s also all these other metrics that you need to be looking at when you are Trying to grow your program be profitable be successful selling on Amazon. And so at the basic level, it’s going to be for for a seller, or for even a vendor. But if you’re in the early stages of, you know, building out your campaigns, and you’re optimizing, and you’re, you’re trying to get that, that rhythm down that repetition down, this is where you need some of those additional metrics, like that are at the basic level to help you get to that next stage, because what you’re probably experiencing is there are some keywords that are you’re losing money on or like the cost is really, really high. Right? And so you’re struggling and you’re not sure exactly what you need to do. After you kind of break through them, you’ve got like a steady, you know, steady flow going, you’re you’re spending budget, consistently, you’re driving sales, you’re seeing some growth in the business. Now you’re more into that intermediate level where things kind of get hard again, activity as you want to keep growing and keep scaling. And so this is where you need another set of like metrics and inputs that you need to be thinking about to make your advertising more effective than the advanced stages where you’re really trying to be that number one bestseller in your subcategory, or your you know, pushing top 10 or top 20, maybe even top 100 for some of you and you know, a major category or like a hyper competitive subcategory. So that’s kind of how like the groupings would work is like based on where you are in your journey with Amazon advertising.
Eric Stopper 5:38
So let’s let’s jump into basic so one of the things that everyone who’s kind of newer to the platform should be looking at are things like you mentioned to hear, review rating. Tell Tell me a little bit about that.
Kevin Weiss 5:51
Yeah, well, everybody knows that reviews are really the name of the game on Amazon. Not only does reviews show up and The product detail page at the top of page, but it shows up lower on the page. And it also shows up in the search results pages. And in pretty much every format you’re going to see reviews is one of those vital data points that consumers are using to determine whether they’re going to buy a product. So as an advertiser, you need to pay attention that metric. So your review rating, the way that it works on Amazon, they have both the visual star rating, and then they have like the actual, you know, it’s like 3.7 or 3.6, like with a with a decimal point in there. And what most consumers see when it comes to review rating as they see the visual representation, which gets grouped into like 3.5 stars visually 4.0 stars visually 4.5 stars visually, and they actually group it so that if you’re a 4.3 you get shown visually as a 4.5. Right? If you’re a 3.8 you get shown visually as a four star, and so when you want You flip from one of those visual representations of it, that actually matters. And so that metric of what the consumer sees or what that decimal rating is for your review rating, that’s going to have a big impact on your advertising. So that’s a metric that you should definitely be paying attention to. And it’s so important that it’s actually something represented in Amazon, what Amazon advertising calls retail readiness, right? You guys may have heard of this term retail readiness, they actually talk about maintaining at least a 3.5 star rating or above for you is one of the components of whether or not you should advertise an ACM altogether. So this is a huge, hugely important metric. And of course, not available in the UI, like in the campaign manager, right. They’re like telling you it’s important, but they’re not like showing you the stuff in the in the campaign tools. So that’s a measure that you definitely need to think about and pay attention to.
Eric Stopper 7:55
I actually can’t imagine I can’t think of a place right now. Where I can see whether or not my listing is retail ready? Do they give you any indicator and seller vendor Central,
Kevin Weiss 8:05
you know, not like overtly, that would be a great, you know, thing to just put in the UI. And when we talk with the product teams, and we’re bringing ideas, you know, these are the sorts of things that we’re bringing to the table is make the tools better and easier. So people don’t have to, you know, string together different tools and functions, but they have it in a couple of places, but to get it to the right spot. With advertising, it requires some extra work for for advertisers, and a lot of them are using bulk sheets. Are there using tools. It’s no surprise.
Eric Stopper 8:38
Yeah, yeah, I mean, I can think of, there’s a company called Gradient that does gradient scores. I know Helium 10 has their their little indicator that pops up when you have their plugin installed. And there’s a couple others and those give you like a, a rating out of 1000 or out of 100 or out of 10, which you can use but I mean really retail readiness just means that like, if if you, if you bring somebody that should be your target customer, if you bring them to your listing, they’re more than likely going to make a purchase or to at least remember you, right? They’ll come back and maybe maybe find you on later down the road. If you have a three star rating, there are very few exceptions to this, but you’re doomed, right? Like you’re in a very hard spot. So this, you know, Amazon gives you the little bump from 3.4 to looking like 3.5. And from 3.7 to looking like four oh, if you are not aware of that dropping below the next kind of rounded threshold, you’re essentially queuing up your listing to have a lower conversion rate, maybe as much as half right? If you are going to convert 10 people, you’re now going to convert five simply because your star rating isn’t isn’t what it used to be. And I think that it’s it’s really it’s really tough to tell people that they’re listening Just going to do a bad job on Amazon, they don’t really know what to do. And so I guess Kevin, in your, in your mind and as kintra as a whole as a philosophy, when somebody kind of crosses into this negative threshold where they’re below 3.5 stars, what do you tell them? You know, what’s what’s kind of your advice to them from that point moving forward?
Kevin Weiss 10:20
Yeah, well, we get in the realm where you can approach this from a reputation management perspective, maybe what you need to do is you need to go through your reviews, identify which child variation on your listing is bringing down that average, and you need to carve that out, you know, like, separate it from the parent or you need to, you know, take a look at on the supply chain side and, and actually improve the product or dig into the actual experience. And that requires a lot of depth and a lot of focus. So, you know, for some brands, we have thousands of basins. That’s not really feasible at scale. So you’re really looking at those 8020 rules like what’s driving the Most impact and and what do I need to do about it. But generally, the rule of thumb is you don’t want to be advertising those products. You want to put the best foot forward with those consumers, and you want to advertise products that are retail ready that have, you know, ideally for four and a half star rating, we’re gonna have that competitive advantage.
Eric Stopper 11:22
And I think the we got to put a footnote to that as well and say, if you’re not advertising them, those products be improving them, right, like spend the time that you’re not advertising on them and let your and let your marketing team figure out the messaging, or let our marketing team figure out your messaging, right, like, whatever you can do to fix the product, fix the message, fix the placement, then when it’s ready to go, you relisted is I mean, you have to otherwise you’re essentially just like, letting that product fall by the wayside. And if even if it was a big seller in the past, it’s not going to be unless you put forth effort.
Kevin Weiss 12:01
Yeah, that’s so true. I mean, there’s it’s just too competitive. Now you have so many folks that are making products specifically for one channel like Amazon. And they’re thinking about every detail and the customer experience. And so, one piece of advice that I’d give out there, as we talked about this review rating and other metrics that matter, is, yeah, put put the time and energy into your products and make sure that you’ve got something special to offer. And you think about how it’s going to be received by the amazon customer. Otherwise, you’re gonna be scratching your head, while others seem to have a four or four and a half star rating. You’re gonna think it’s all black hat smart. They probably just put the work in and your gear their supply chain around us selling on Amazon.
Eric Stopper 12:41
So speaking of scratching your head, the other the other thing to consider when you’re kind of this basic level of selling is how much inventory you have on hand. Yeah, right. I I talked to a lot of folks who are bewildered when they run out of inventory, and it seems very difficult to run an inventory on it. Amazon, but I guess for the inventory on hand, how do we use that with our advertisement campaigns?
Kevin Weiss 13:06
Yeah, this is another metric that you should be thinking about or that you should be optimizing around. So if you know that you only have a limited number of items in stock. When you advertise that product, right, you’re selling through the items that you have, whether it’s the refillable inventory, and FBA, or whether it’s the sellable inventory on hand, on the vendor side, you have a limited amount of inventory, you need to replenish that. So there’s no need to actually accelerate you running out of stock, like you shouldn’t be, you know, using Amazon advertising to force you into an out of stock. So that would be a scenario where, depending on your lead times, like maybe you have a new batch in production that hasn’t started yet. So you’ve got a really long lead time. That’s where you should pull back on him. on advertising, or that’s where you would, you know, flip over to, to fbm from from FBA so that you don’t go out of stock because running out of stock and really, you know, grinds all the gears to a halt, not something you should do and of course, you know, advertising being part of that flywheel flywheel, right. You don’t need it to be accelerating if you’re already selling through. So don’t don’t have advertising forced you out of stock is really the takeaway. And the best way to do that is to get that metric alongside your, your campaigns or your ads so that you know what you’re pushing.
Eric Stopper 14:34
Absolutely. And if you’re having trouble with this, come and talk to me, we’ve we’ve, we’ve had a lot of a lot of inventory questions over the last three months or so. We’ve we’ve got the experience here. So come and talk to us. Let’s move on to the intermediate metrics. So you’re kind of a bigger seller at this point, you’re making some good money. The first one that we have listed here is organic keyword ranking, as the metric to look at with your campaigns. Tell us a little bit more about that.
Kevin Weiss 14:59
Yeah. Really interesting one for folks to look at. There’s there’s different schools of thinking that’s what I put in the intermediate category. You shouldn’t be looking at your organic keyword ranking alongside your advertising. One of the reasons is because if you are already ranking for a keyword organically, and you now, like put an ad up there, there’s a chance that you would have actually picked up or captured some of those sales without that ad. So this, this may be a metric where when you already rank for something organically, you actually reduce the bid price. So that you’re you’re not paying that that extra rate or you’re basically not cannibalizing that organic traffic. On the flip side of that, if you’re not ranking organically for a keyword, but you’re seeing really good performance, with your ads that may be a signal to you that You should actually try to optimize your product for it. Maybe you see this good performance on the ad, but your organic ranking is low. Now what you can do is you can take that metric you can, you can look at what happens when you actually optimize the product for that keyword. And you can actually improve your organic ranking, as well. So on both ends of the spectrum, whether you’re ranking well, and you don’t want to cannibalize or whether you’re not ranking well, but you’re seeing good performance within your ads that can give you signals about what you should be ranking for organically, so that you can grow your business and grow your profit, which really comes from organic keyword ranking.
Eric Stopper 16:33
I think that’s a really good point because we had a client who was selling wrestling and fighting gear, so like singlets, and shorts and pads and stuff like that. And he had this weird subset of his market. That was the parents of autistic children who were buying the singlets because their kids would like to take off their clothes and their underwear. And so they, you know, he was like, he was like 10, like ranked Number 10 for autistic clothing or something really, really specific. And I don’t know, I don’t know that he ever made the change and like develop the product specifically for that market. But that’s one of those situations where you have, like serendipitously stumbled upon a niche that your product already fulfills leverage it, definitely leverage it.
Kevin Weiss 17:24
Absolutely. Great example. Yeah. And yeah, there’s like this, you know, virtuous cycle that you can get in between your advertising metrics and your organic keyword metrics if you use it the right way. So yeah, I mean, the right move would definitely be to lean into that product line. There’s, there’s probably an underserved market out there. And you only get that if you’re really looking at the entity together and thinking, maybe I could rank for this organically,
Eric Stopper 17:48
right? And then the other side of this too, is, um, are there any other easy ways for people to check where they rank for a keyword organically or do they just have to look, they just have to search on Amazon
Kevin Weiss 18:00
Yeah, I mean, there are some tools, you know, within Kenshoo, we can actually ingest this data and have it in some, some grids, like alongside the advertising metrics. But there’s there’s certainly a number of tools that will track organic keyword ranking. I’ve used a lot of them. I mean, I don’t know if I have like one that is my, my favorite per se. I’ve certainly used AMZ tracker, helium 10. Viral launch, you know, there’s, there’s no shortage of options out there. In terms of integrating it, like I said, we’ve kind of got the Yeah. That one here in country so we’re not scrambling for the third party tools, but I’d say there’s a bunch out there.
Unknown Speaker 18:45
It’s hard to go wrong.
Eric Stopper 18:46
Right on. The other one we have here for intermediate is average cost per click.
Kevin Weiss 18:52
Yeah, and I even had another one on this as well. But average cost per click is something that you know, a lot of times within Amazon advertising you get this like one kind of snapshot in time or you get, like, for example, you go into the campaign manager and you say, what’s my bid price, right? Or like, you know, what’s, what’s the the average cost per click that it’s been for a certain amount of time. One thing that you might want to do is look at how that’s been trending over time. Like maybe you’re in a category that’s getting more and more competitive. And it’s just been ratcheting up so gradually that you don’t even realize. So when you can actually compare this the two and you get some kind of historical metric, you can actually recognize the changes that are happening in terms of competitiveness for your category. So that before you lose market share, you know that you need to make some some changes and adjustments there.
Eric Stopper 19:48
But I want to speak to the changes in adjustments because I get this question quite a bit. Where you know, maybe someone wasn’t advertising and they were doing pretty good volume and then all of a sudden there whatever advertising they are doing Their cost per click is going up just in general, the trend is is spiking. What would you encourage those brands to do in those situations as soon as they’re able to identify that
Kevin Weiss 20:12
now? Well, there’s a couple things that you need to have context on. So one is the placement report. A lot of times it seems counterintuitive, but actually at the top of search placements, you may spend a little bit more on the cost per click, but the click through rate and the conversion rate is actually better for those placements. So cost per click going up isn’t always a bad thing. If the performance like the conversion rate on that is improving, outpaced rate. But yeah, I mean, if cost per click is going up in your particular product category, or your area, that means that you’ve got some new competitors that are in market, or you’ve got a brand or maybe two brands that’s running some type of campaign to try to steal market share. And I can tell you there are brands out there that are willing to, you know, take a break even or take a loss even if it means that they can acquire a lifetime customer. And so this is something that if you are seeing cost per click rise, and you’re, you know, not as competitive as, as you feel like you should be take a look at the brands that you are competing against. You can measure the changes on how they’re behaving, when you look at some of the advanced metrics, which is in my advanced bucket like share voice, but in many cases, it means that you need to expand your product line, or you need to think about how to make it a little bit easier to get that second purchase with a third purchase so that you can monetize the customer acquisition a little bit a little bit better, meaning you don’t need to hit a 20% A cos you only need to hit a 50% A cos because you know that when you get that customer They’re gonna buy from you again and again and again. So those are the things that you would want to do look for intelligence and then think about how do you get more competitive?
Eric Stopper 22:09
I think that makes a lot of sense. I want to tie I want to kind of throw in one idea here. We deal a lot with channel governance, and the brands that that have a channel governance issue where they have lots of resellers or unauthorized products that are on their listing. You know, they’re scratching their heads trying to figure out what they did wrong. We know what they did wrong, right. The distribution was was a little looser than it needed to be the sales team was a little a little less targeted and how they’re selling. And you know, it happens, right, it’s not a big deal. But for those of you who are competing against some bigger brands in your category, I will say that the brands who have channel control issues are asleep at the wheel. They cannot make decisions as quickly as you can make Because what happens is like if they make a change on their listing or anywhere in their, in their products on Amazon, the resellers can quickly override that on accident. And everyone just kind of shares this buy box. And it’s really hard for them to maintain control of their ads and their and the way that their listings look. And so like just simply be aware of who has more than like two resellers on their listing in your category, and Ace and target some of those folks, because the odds are that their listings look pretty bad compared to everybody else in the category. So I just wanted to sprinkle that in there as well. You have to live with yourself at night to knowing that you’re taking advantage of but you know, competition is competition. Let’s move on to advanced. So content score. Yeah, I think this speaks to retail readiness as well. Tell me a little bit about this.
Kevin Weiss 23:49
Yeah, well, content score, you know, we kind of use this term because it’s it’s a better catch all really what what you can what we can do As we can look at each of the different elements of a product detail page, the title, bullet points, the image, the main image, the images, whether there’s a product video above the fold, whether it’s related video shorts below the fold, product description, a plus content, you know, customer questions and answers, like all of these elements. And we can actually say, you know, this is good, this is average, this is bad. And when you, you know, wrap those all up together, you can make a score or like a grade, like you get a B, you know, grade or you get a C minus or you get an A plus. And so a content score is kind of, again, a good catch all to say, is your content good. Amazon will tell you and, you know, terminology for retail readiness, that you should have optimized pages that you should have good content. That’s basically what they’re telling you. And so this definitely has some overlap. With that, but I would say this is in the advanced category, because, you know, the the brands that that are really pushing the envelope and, and growing their business. on Amazon, they are looking at each element of the product detail page and saying how can we be better? How can we be better than our competition? And so a content score is something that is a super valuable metric that you would want to have alongside your advertising data to say, Okay, I’m currently getting this performance. And I’m getting a grade of a b minus, if I were to improve to an A minus, what’s that going to do to my advertising. So that’s a really, I would say, in the advanced realm. But it’s things that advertisers that are looking to be the best are doing and they are thinking about those metrics and looking for ways to integrate, and I can tell you that that’s happening at Kenshoo.
Eric Stopper 25:54
If you want to content score, come to me, I’ll give you one and I’ll be and I’ll be pretty violently scrutiny of your of your listings so that you have as little bias as possible. Next on this list is I think these kind of speak to the same the same issues but just missing page elements.
Kevin Weiss 26:14
Yeah, yeah, I mean, a lot of times, you know, on Amazon, something will, will change on the product detail page. So maybe there’s a contribution from another seller and your contributions get overwritten. Maybe Amazon retail, like, you know, there’s a vendor central account that makes contributions to your listing, and that has a, you know, higher up in the hierarchy. And so they overwrite your contributions, or maybe Amazon breaks up your parent child relationships. There’s all these things that can like change the product page on Amazon. So that’s different from what we call your source of truth. Your source of truth is like this is what I want my product to look like and feel and this is how I want it to be on Amazon. But a lot of times, it DPA in these weird ways, or from other contributions, and so missing, you know, product detail page elements is one of the the other levers here to say, I don’t want to advertise any products that don’t have a plus content showing, or I don’t want to advertise any products that don’t have at least three product images, those would be more advanced sort of rules that you would set to ensure that if something changes, you can react very quickly on your advertising. You know, when you’re actually managing your campaigns,
Eric Stopper 27:36
yeah, and I think the kind of the flip side of rules that at a lower level that many people might be aware of is just like, when your company or when you are saying, Oh, yeah, we don’t want our efficiency to drop below a certain percent. This is, you know, that’s kind of at a lower level. Very simple, right? Like I’m I’m just going to turn an ad off or adjust the bid if it’s below a certain efficiency. This is saying right like I am going to prioritize my efforts for the items that I know are have the highest score have all the elements needed to maximize the kind of the campaign testing level. Because if you have all this stuff missing from your page and you have resellers or you have like you’re missing your Subscribe and Save or you’re not prime, like your prime missing just like turned off for some reason like, if you don’t have those things on there, you’re not average, you’re not using your advertisement campaigns in the black box or in the in the vacuum that you can, that you should be. You want to be able to test bids and test day partying and stuff like that. And all of that information is going to be conflated with the fact that your conversion rate isn’t as high as it could be. And so be mindful of this. This is this is advanced, but it’s also this should be a gut thing for you to know Oh, hey, maybe I shouldn’t advertise something that has a missing element to it. missing my infographic that explains that certain types of people shouldn’t buy my product because it doesn’t fit them. If that’s missing, don’t advertise, put that in there get to the root of the problem and figure it out. I think the last the last thing on here is share of voice. We’ve we’ve talked about this on in this specific series. I just I want to speak to it some more.
Kevin Weiss 29:21
Yeah. Yeah, this is a very important one. And I think folks get it this and a couple of different ways. But you know, you want to capture the, as much of like the, you know, the market that you can, like so, for whoever is in the market for your product or could be in the market for your product, you want to capture that. And really the metric here to think about is share of voice of the products that a customer is going to see on Amazon, how much of that share Are you capturing, and how much of that share on the organic side how much of that share on the paid side and how much it That that total share Are you getting, this is actually a metric that for the more advanced advertisers, you know, they are looking at they are thinking about and they are actually optimizing towards, I think for maybe for the intermediate brands that that want to be advanced, you’re probably looking at like tacos or profit or something like that. I think that’s a certainly salient here. So I don’t want to just like skim over like profit as an important metric, or, you know, total advertising cost is important, but really share voices like a very elevated, you know, objective where you’re capturing market share, and this is what the biggest brands in the world do. And around the world does, when they are running media campaigns, or they’re they’re measuring how they’re doing like they’re looking at market share. And so this is definitely something for the advanced advertiser out there.
Eric Stopper 30:54
Are there any others on this list in general that we should that we should be looking at
Kevin Weiss 31:00
Yeah, I mean, we could we could drill into a bunch, you know, this is the beauty of, of Amazon and the e-commerce world we live in, is that there’s going to be people out there that are thinking of metrics that matter to them. Or that, you know, that they want to, you know, combine with their advertising and, and build around it. And so we’re moving towards a future where you can automate these sorts of things. So if something changes here, you know, I want to change it there. And this is what we can do with technology when we operate at scale. So I think there’s going to be no shortage of metrics, I’ll say, this is kind of like a fill in your own blank of the metric that you think is important. no shortage that we could cover. But hopefully this is like a good starter, you know, for folks that maybe have just been, you know, in one level, and they’re looking to go to the Mac store, or they’ve just been looking at the campaign manager UI and they’re, you know, trying to to level up,
Eric Stopper 32:01
yeah. Well, I’m gonna send everybody to Kenshoo. And come and talk with us. There’s a lot of different. There’s a lot of different elements that you should probably be looking at. And I think it could be easy to get lost, especially if this is the smaller part of your day. This is everything that our teams are doing. So come and talk with with me and Kevin. Kevin at Kenshoo and Eric at Buy Box Experts, and we’d love to help you out. Kevin, thank you so much for coming on the show.
Unknown Speaker 32:27
Eric Stopper 32:29
To finish today’s podcast I want to share some final thoughts. For large brands who are seeking to wholesale product to a trusted Amazon reseller. We at Buy Box Experts are big fans of the team over at Pattern. They’ve helped hundreds of large brands to capitalize on the Amazon channel while also helping implement channel governance best practices that allow the brands to have consistency across all their sales channels. For more information, go to pattern.com and reach out to their team there and they’ll be able to help you. We hope to see you soon on the Buy Box Experts podcast.
Thanks for listening to the Buy Box Experts podcast, be sure to click subscribe, check us out on the web and we’ll see you next time.