Market Intelligence provides you with a competitive edge by measuring your performance relative to your competitors on a daily basis, these insights can be leveraged to help you craft better advertising strategies and manage your Amazon campaigns.
This intel can help you understand how you stack up to the competition, identify keywords that can help improve product positioning, and gain insights on where you may need to invest more in ads or ease back on spending.
Defending your Brand:
If you're monitoring your brand terms and notice a decline in brand coverage and/or product ranking, you may have a new competitor targeting you. Defend your brand coverage by increasing spend on your branded terms.
Tracking Competitor Performance:
Tracking your competitor's performance for specific terms allows you to identify where your competitors are performing better than you. If you find you're consistently ranking below your competitors, start by increasing spend on these terms. If ranking is still not improving, review your competitor's products to see how they're differentiating themselves in the market.
Maintain Product Ranking:
Make sure you're ranking high for the terms you want to be ranking high for. These are typically your high-value keywords or terms that if you lose ranking could cause a significant decline in overall performance.
Increase Market Share:
To increase market share identify search terms you're ranking low on and create a separate campaign for these terms. Isolating these terms provides you with more control over spend allowing you to increase your bids on these terms without overinvesting in terms you're already ranking high for. Evaluate the performance of these terms every 1-2 weeks to see if the blitz in spend made an improvement in your ranking.
Paid vs Organic Ranking:
Comparing your paid vs organic ranking for terms will help you understand where you're overinvesting and under-investing in your advertising.
For example, if you're consistently appearing in the top 3 spots on the first page organically for a specific term, there is less of a reason to target this term with paid traffic. Conversely, if you're not ranking (or ranking low) organically, you may not be investing enough in paid traffic.