This year's Amazon Accelerate event has come to an end in "Flowers and Applause", a two-day event in which Amazon CEO Andy Jassy and the main core members of the team gave keynote speeches, but the most inspiring thing for sellers is not which new continent Amazon has opened the new site to, but the new features developed for third-party sellers.
One of the highlights of amazon Accelerate 2021 is about Amazon brand registration and the business associated with it.
At the event, Amazon mentioned that since 2021, more than 100,000 new brand registered sellers have started the Amazon journey.
Here's a rough introduction to the highlight features.
Amazon announced a new tool for the "Search Analysis Dashboard" in the meeting, and with the help of this feature, the selection journey of the search function of brand registered sellers will be more scientific. It is reported that the "search analysis dashboard" will provide sellers with a large amount of anonymous data to better understand consumers' interest in their products and shopping preferences. This information will help sellers optimize listing and inventory management, providing direction for product development.
The search analytics dashboard will enhance existing data analytics capabilities to provide more accurate statistics on consumer buybacks, price comparisons, alternative purchase behavior, and demographic distribution. Amazon has been providing brand sellers with analytics that include keyword search rankings, clicks, and conversions for some time, and new features will help brand sellers gain a deeper understanding of the consumer's shopping experience.
In addition, the new search analytics dashboard will add features called Query Performance and Catalyst Performance.
The Query Performance Dashboard's dashboard will help sellers understand the search terms that are most relevant to product marketing and suggest combinations to sell with spending habits.
Catalog Performance will analyze the reasons for the low conversion rate of the product for the seller, and analyze the underlying logic of the product's low competitiveness from multiple reasons for consumer abandonment. The dashboard will also help sellers analyze the price competitiveness of their products, optimize their marketing investments, and inventory management. The feature will be available in the U.S. market in early 2022, and Amazon branded sellers will be free to use the tool.
Amazon Accelerate announced a series of programs at the event to encourage brand sellers to innovate.
The Amazon Brand Referral Bonus, in which a brand directs traffic to Amazon through off-site marketing, generates an average of 10% of sales generated by the promotion of the product and any product purchased by the consumer in the following two weeks, which will be returned to the seller and deposited into the Seller Central account on a monthly basis to offset the seller's contribution to the platform. Some brands receive thousands of dollars in bonuses in a single month.
Among them, the Amazon Customer Engagement feature enables brands to take the "formal route" to launch email marketing campaigns to consumers. Since launching a beta version of the tool in May, Amazon has sent more than 6 million emails to consumers on behalf of branded sellers. The story card feature of the A+ page also adds a lot to the creative story behind the brand.
The Customer Review Resolution enables brands to maintain consumers who leave bad reviews. Brand sellers can voluntarily provide subsidies or refunds when consumers leave bad reviews of products, which helps sellers to establish closer ties with consumers. Since the tool went live in June, it has supported more than 200,000 monthly orders from brand sellers.
This feature will provide the seller with aggregated data and will not reveal the specific name of the brand. In addition, Amazon also said that the feature will provide a window for consumers to buy products that have demand but have nowhere to step on iron shoes. If a seller sells bicycles on Amazon, and big data senses that female teenagers have a relatively high demand for blue bicycles, the function will feedback the trend to the seller and give suggestions for selling.
The feature will also be broken down into subcategories to suggest what consumers are retrieving and pricing trends. Amazon wrote in its press release that the feature "has a wealth of insights, with a list of consumers searching, clicking, buying, and discarding, and will also provide detailed data on search volume changes, sales history, and pricing trends."
For $200, sellers of brands can link up with Amazon Vine features to add ratings to new products. Brand sellers say amazon vines contribute more than 15 percent to sales growth on new listings on average.
It is reported that the plan is still in beta, and Amazon plans to open access to the feature to all sellers through Seller Central in 2022.