To gain actionable insights that can be applied to your business you need to have an understanding of which keywords you want to rank for and the impact they can have on your business.
Here are some suggestions for choosing which search terms to track:
High-Value Category Keywords:
High-Value keywords are terms that Brands are willing to pay a high price to bid on because they are likely to result in a sale. These terms typically generate a high amount of revenue for your business, a decline in ranking could have a significant impact on your performance.
A decline in ranking on these terms is typically an indicator that a new competitor has come to the market, monitoring your BCS and ranking over time enables you to make changes to advertising strategy before you see a decline in ad performance.
Tip: Review your list of Top Contributing Keywords in Flywheel to quickly identify the terms that are generating the most revenue for you.
Your Brand Terms:
It is also a practice to continuously track branded terms related to your and your competitors' brands and product models (for example, LEGO Mindstorms, Philips Sonicare, or BOSE QuietComfort). Make sure you have a comprehensive list of those and keep track of new and existing product appearances and their rankings.
In general, you always want to protect your brand terms, which usually means increasing spend on branded ad campaigns. With Market Intelligence, you will be able to discover, if competitors are actually bidding on your brand terms. If competitors are not bidding on those terms, you won't need to invest as much spend on those terms.
Your Competitor's Terms:
Tracking competitor terms, whether you're targeting them or not, will help you understand your search coverage and position on the page relative to your competitors and see how it changes over time.
Tracking the performance of your competitors will help you learn which search tactics are working well for them. You can also work to improve your quality score by emulating the best-performing competitors’ listing pages based on paid rank and visits.
If you're unsure where to start begin by researching how consumers are searching for your products and products similar to yours. This will help you discover terms and phrases that you want to be ranking for, such as those that have high search volume and/or are likely to lead to conversions.
Download your Search Term report from Amazon to learn how consumers are searching for your products and identify the terms that are generating the most traffic and revenue for your business. Make sure to also sort by conversion rate to identify terms that may have low traffic but are likely to result in a sale.
Tip: If you're trying to increase market share find terms that you're ranking low organically and not currently targeting, redirecting spend to these terms will increase your paid rank positioning, get your products in front of more consumers, and begin to increase your organic ranking.
Learn more about how to leverage market intelligence insights here.