New powerful data-driven insights from Amazon

Category: Data & Insights
New powerful data-driven insights from Amazon

At Accelerate, Amazon’s annual seller conference, Amazon unveiled numerous innovative new tools and services designed to help independent sellers accelerate their growth. Among them were exciting new tools to enhance the many existing capabilities Amazon already provides to help businesses of all sizes to launch and build a successful brand and delight customers. The enhanced Customer Sentiment Insights tool uses customer insights to help brand owners in designing and building products, while the Customer Loyalty Dashboard enables them to lower customer acquisition cost and increase customer lifetime value.

Helping brand owners drive product innovation through powerful customer insights

Today, Amazon announced upcoming enhancements to Customer Sentiment Insights, a powerful tool that lets sellers leverage category-level customer feedback to support new product development, accelerating the product development lifecycle, and mitigating the risk of producing a product that doesn’t resonate with customers.

New product development can pose a daunting challenge for brand owners. To rise above these obstacles, specific customer insights become one vital key, unlocking critical information about the target audience.

– Ben Hartman, Vice President, Marketplace, Amazon

The new features will give sellers a comprehensive understanding of customer sentiment for existing products from reviews and from customer returns. For example, an outdoor recreation brand who is getting ready to design a new tent can easily understand what drives customer complaints and satisfaction with tents today. Customers may be desiring more “ease of assembly” and “instructions printed on the bag”. This enables Amazon sellers to design their next line of camping tents to address these customer needs.

Upcoming enhancements to the tool will provide the ability to select different time periods, analyze trends over time, and benchmark customer sentiment for all products against best sellers in the category. This benchmarking capability will give sellers unparalleled insights to help strengthen their product development and brand positioning.

These insights will be simultaneously available later this year in the U.S., United Kingdom, Germany, France, Italy and Spain, with Japan soon to follow. Localized insights will also provide an even deeper understanding of customer preferences in these countries, enabling sellers to tailor their products and strategies.

Building stronger relationships with customers

The Customer Loyalty Dashboard enables brand owners to segment customers based on loyalty, and analyze customer purchase patterns. The dashboard directly integrates with Brand Tailored Promotions, a tool that enables brands to provide tailored promotions, coupons, and discounts to high-intent customer audiences for free. Together, these tools make it easy to target the right customer at the right time with the right incentives to acquire new customers as well as target existing customers to drive repeat purchases. Together, this helps lower customer acquisition costs and increase customer lifetime value.

Sellers are able to see current insights, alongside historical trends, giving sellers visibility into their brand’s performance over time. Specific capabilities include the ability for brand owners to:

  • Boost brand and product-level loyalty with the ability to target high value customers at the right time with the right product.
  • Reduce customer acquisition costs by targeting potential customers who have already shown interest in the seller’s brand.
  • Tailor the right action for the right customers by customizing the degree of purchase incentives, discounts, communication content, and frequency based on the strength of the relationship with a given customer segment.

These capabilities are now available to all eligible brands in the U.S. and will launch in more countries early next year.

From entrepreneurs starting a new brand to well-established brands known in households around the world, Amazon is continuing to create an amazing place for businesses of all sizes to launch and build a successful brand. This starts with creating and showcasing a brand’s unique story, includes attracting customers and driving discovery, and extends to developing customer relationships and long-term loyalty.

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