“Understanding demand for products on Amazon just so valuable. Other use cases people are using it for: Brands that are doing R&D and they want to see the new and hot upcoming areas are where they can develop products in.” Greg Mercer

Amazon is a data-driven company. Everything that they do is based on data. Having this understanding as a brand is critical to your success on the platform. Every single decision you make should be based on data.

We talk about how you can pull fascinating insights from the Amazon Bestseller rankings and Sales rank. Comparing how your products are selling against your competition is very important. You also get the chance to gauge your velocity and momentum. This is a very important metric in Amazon.

We talk about the Jungle Scout Cobalt tool and how it helps brands estimate sales. This is very important when researching and launching new products and figuring out how your competition is doing. Banks can use it to estimate sales and also comes in handy while performing due diligence for acquisitions.

Tune in and listen as we talk about how useful this tool is in providing actionable data and how to capitalize on it.

Key Takeaways

  • Why Amazon is a data company not an eCommerce company (02:51)
  • Pulling fascinating insights from the Amazon Sales Rank and Bestseller Rank on how your product fairs against the competition (06:56)
  • Why you should pay more attention to subcategory ranking rather than parent ranking (14:38)
  • Understanding how the Jungle Scout Cobalt tool works (20:59)
  • Accuracy of the jungle scout tool and how it provides actionable data summary (27:14)
  • How the Cobalt tool helps with competitive intelligence, actionable insights, product awareness and growing market share (38:03)
  • Why actionable data provided by the Cobalt tool helps you capitalize on it and avoid loss of sales through minor issues (44:41)
  • Understanding the names and key phrases that customers use to find your product and optimizing your listing to rank for them (47:08)

Episode Links