It’s now a lot easier to contextualize your performance on Amazon Business, Amazon’s B2B marketplace.
Amazon is slowly rolling out an update to its Business reports that allows brands to see how their key performance metrics stack up against their competitors, specifically for Amazon Business.
Go to the Detail Page Sales and Traffic by Child Item report within Amazon’s Business reports, select an ASIN, and see how it compares to:
- The top 25% percentile of ASINs
- The top 10 most popular ASINs
One of the most exciting parts of this new report is that you can compare your conversion rates for Amazon Business to those of your competitors.
You no longer have to hope that your products perform the same on Amazon Business as they do on regular Amazon. You can now see the metrics (traffic, conversions, sales, etc) in the full context of Amazon Business, and make adjustments accordingly.
Why do I need a separate strategy for Amazon Business?
As a refresher, more than 6 million businesses buy from Amazon’s B2B marketplace. These range from municipal governments to Fortune 500 companies to senior living corporations, charities, non-profits, and faith groups.
If you sell a product that businesses might buy in bulk, like electronics, office products, or medical supplies, then you need to be thinking about Amazon Business.
Business customers buy in bulk, almost double the order value of the average shopper. They also return products much less frequently.
Finally, they are very high converters: They’re 3x more likely than regular shoppers to buy a product after viewing its product page.
It’s a powerful marketplace—and yes, it often deserves its own unique ads strategy. Because of these quirks of Business customers, you can’t just copy-paste your strategy from your regular products and apply it to Amazon Business.
What can you do with the new Amazon Business report?
For regular Amazon, the Search Query Performance Report—which, by the way, is now available via API in our platform—has been a favorite of ours because it allows brands and sellers to directly compare their numbers to those of their competitors.
With the SQP, you can set benchmarks—how does your performance compare to your competitors?—and you can also find new opportunities. For instance: Do you have products with high conversion rates where you’re being outspent by your competitors? This might be an easy place to up your spend and beat them out.
For a long time, it was hard to see similar data for Business customers specifically. But now, you can put your ASIN-level performance in full context. See how your conversion rate stacks up for your Business customers, for instance, and get a much better sense of what is actually working.
This extra data is coming as brands are getting slightly more control over their Sponsored Products ads for Business customers. It used to be incredibly difficult to advertise differently to Business shoppers. Now, you can set separate bid adjustments for Amazon Business shoppers vs. regular Amazon shoppers.
Combined with some of these new insights in the Business report, you’ll be able to identify opportunities where it’s well worth bidding up on Business shoppers compared to regular shoppers.
Let’s say you sell a printer. In the Search Query Performance report, maybe you see that your printer has relatively modest performance numbers compared to your competitors.
But on the Business side, it is doing big numbers—and far outpacing your competitors in conversions. This is a clear moment where you probably want to boost your ad spend.
Or maybe you find that the opposite is true: A generally high-converting product isn’t performing as well on Amazon Business. Then maybe you want to adjust your Sponsored Products bids for Amazon Business.
Don’t accidentally overspend on ads to Business customers if they just aren’t buying it.
