Monitoring Competitors with the Insights Dashboard

We’re back with another episode of the Weekly Buzz with Helium 10’s Brand Evangelist, Shivali Patel. Every week, we cover the latest breaking news in the Amazon, Walmart, and E-commerce space, interview someone you need to hear from, and provide a training tip for the week.

Prime Big Deal Days: Everything you need to know about Amazon's 48-hour shopping event
https://www.aboutamazon.com/news/retail/amazon-prime-big-deal-days-faq

Amazon has reportedly tested a “Buy Again” feature to entice shoppers into repeat purchases. The company has placed the new feature in a tab on the “most prized real estate” on its app home page.
https://www.pymnts.com/news/ecommerce/2023/amazon-wants-to-get-cautious-consumers-to-buy-again/

American consumers are taking their foot off the spending pedal as bargain prices become rarer, former Walmart U.S. CEO says
https://finance.yahoo.com/news/american-consumers-taking-foot-off-102620170.html

In the second part of our episode, we turn our attention to the world of competitor monitoring. Carrie Miller shows us how to stay ahead of the competition with Helium10's Insights Dashboard Competitors Tab feature, which allows you to easily monitor your competitors in seconds.

Get ready to pocket some incredible news stories, strategies, and insights that are going to keep you ahead in the E-commerce game!

In this episode of the Weekly Buzz by Helium 10, Shivali covers:

• 00:49 - Big Deal Days
• 02:09 - New CPF Certifications
• 03:32 - A/B Testing
• 04:11 - Controlled Generic Listings
• 04:58 - Buy Again Button
• 05:46 - Bargains Gone Forever?
• 06:50 - Follow Helium 10 In Twitter
• 07:35 - Pro Training Tip: Insights Dashboard Competitor Tab

► Instagram: instagram.com/serioussellerspodcast

► Free Amazon Seller Chrome Extension: https://h10.me/extension

► Sign Up For Helium 10: https://h10.me/signup  (Use SSP10 To Save 10% For Life)

► Learn How To Sell on Amazon: https://h10.me/ft

► Watch The Podcasts On YouTube: youtube.com/@Helium10/videos

Shivali Patel:

New certifications for the Climate Pledge-Friendling program, brand protection with generic product listings, a buy again button for your consumers and an incoming shift in consumer habits. This and more on this week's episode of the Weekly Buzz.

Bradley Sutton:

How cool is that? Pretty cool, I think.

Shivali Patel:

Hello everyone and welcome to another episode of the Serious Sellers podcast by Helium 10. I'm your host, Shivali Patel, and this is the show that is our Helium 10 Weekly Buzz, where we give you all the latest news in the Amazon, Walmart and e-commerce space and we also provide you with a training tip of the week that will give you insight into serious strategies for serious sellers of any level in the e-commerce world. Let's see what's buzzing this week. The first article that we'll be covering today is from Amazon itself. First, I want to preface this by saying I was just looking at some Prime Day 2022-2023 stats earlier today with some of our Helium 10 team, and we were seeing conversion rates hold study or even increase, resulting in more sales year over year, as well as impressions remaining consistent leading up to Prime Day, but then soaring a whopping 25% year over year on the big day. You can check out our LinkedIn for more details. But, with that said, let's talk about Amazon Prime's Big Deals Day. So what exactly is Amazon Prime's Big Deal Days? Well, it was a 48-hour shopping event that happened in 19 countries and, just like Prime Day, it was a significant sales opportunity for many businesses. I've already seen a lot of buzz on LinkedIn and on our Facebook groups saying that Big Deals Days was going great for them. That is such a tongue twister, guys. I'm not quite saying that five times fast. Our Project X and Project 5K accounts both had more than double the normal average in sales. But I want to hear from you guys how were your sales? Were you up, Were you down? By how much and in what category? Let us know in the comments below.

Shivali Patel:

Next up Amazon has added three new certifications that recognize materials innovation to their Climate Pledge Friendly program. This is really helpful for customers in discovering more sustainable products at scale. Oftentimes, as a buyer, when we're scrolling search results pages and we're just on the prowl for a particular item, Badges can be a really great way to have a listing catch our eye, and perhaps that is part of the reason on why sellers have noted slight increases in conversion with these badges. Maybe it's the increased traffic or the feeling of leaning into a morally sound, feel-good purchase for your prospective consumers. But listen, whatever the case may be, if any of your products are eligible for one of these new certifications or the Climate Pledge Friendly badge in general, it may be worth enrolling into this program. To enroll, you must either have an approved third-party certification or be eligible via compact by design or pre-owned certified. Of course, this validation process is really going to vary based off of your product type, and therefore you should do your due diligence. The badge will then appear on product details pages, search results pages and give you access to different things like advertising packages, Amazon business features and much, much more. All right.

Shivali Patel:

Another segment of news coming from Seller Central is brands can now run AB tests on supporting images in the Manager Experiments Image Gallery. This is great news for those of you who haven't yet launched your product or you just want to optimize your listing images. After all, as it says here, 62% of customers are more likely to buy a product if they can first view its images and video. Yes, it's still best to do split testing via Helium 10 audiences, but to start split testing your supporting images and potentially hike your conversion rate, you can head over to Manager Experiments dashboard switching gears.

Shivali Patel:

Seller Central also recently announced that they've extended product detail page protection to generic product listings. So if you don't know what this means, if you are a seller who does not have brand registry just yet, this could be helpful for you. You can start off listing your product as generic and then Amazon will still protect you by keeping any changes that occur solely under your control. Basically, what Amazon is saying is they won't let other people go in and change out your listing. Even though you're not brand registered, we do still suggest that you get brand registry for most sellers. This is a really nice update, and it does come with a lot of different things, so just bear that in mind. But you do have access to this exclusive control with the generic listing product detail pages now.

Shivali Patel:

Then we have a new buy again button. I'm reporting this to you from payments.com. We all have purchase history with Amazon. That's really useful, but sometimes we forget that it's not just those subscription products like supplements and maybe the skincare items that can appeal to people and they'll reorder over and over again. If you can establish brand authority or deliver a really great product or experience, a simple button can be enough to bring back customers and increase your return on investment. Look, I'm a repeat purchaser in general, so I'm the perfect target market for this feature. Have you seen this button on the Amazon app's homepage to entice shoppers into repeat purchases? Let me know in the comment section.

Shivali Patel:

Last but certainly not least, the last article I'll be covering today is from Yahoo Finance, and that is Bill Simon. This guy is the former Walmart CEO, and he's raised some concerns about the impact of lingering inflation and various macroeconomic factors on the American consumers, suggesting that the era of big bargains might be coming to an end, you guys. He pointed to the evidence of changing consumer habits, such as shifting towards smaller purchases at the end of the month due to financial constraints, and retailers are feeling the effects of inflation, which could really affect consumer acceptance of prices and buying patterns. I know I've already experienced this inside of my retail stores that when I'm going grocery shopping, the prices are insane, as are gas prices and whatnot. So are you seeing a change in spending habits? Has this been reflected in your own sales? Let us know. We would love to absolutely hear from you. So that does conclude our news pieces for this week.

Shivali Patel:

Before I jump to our training tip of the week, I want to quickly encourage you to follow our Twitter account at Helium10 Software, that's @H10Software okay, @H10Software If you don't already follow us. We post announcements, slides, workshops, Q&As and so much more, and it's a really easy way to stay in touch. I don't want you to miss out. Let me go ahead and give you a second. Go ahead and pause this podcast or video, whatever it may be that you're watching this, and go give us a follow Done, All right, awesome. Before I sign off, let me pass it over to Kerry Miller, our brand evangelist here at Helium10. And, as a seller, being able to stay at the forefront of your market can also depend on what your competitors are doing. Perhaps they're adjusting their price points or offering a promotional coupon, and you will want to know when they do that as soon as they do. If you want to know an easy way, just keep watching.

Carrie Miller:

Q4 is here and I know a lot of us like to keep close tabs on our competitors, but it's often a lot of tedious work where you have to literally go to their listings to kind of see and try to figure out what they're doing in this Q4 season. A lot of times we want to see did they change their price, are they adding coupons, things like that. So I want to show you a very easy way that you can actually monitor your competitors using Helium10. The first thing that you want to do is you want to log into your Helium10 account. Okay, so this is actually all going to be on this dashboard that you see right here, and we're actually going to scroll down just a little bit and we're going to take a look at this product section where it says my Products, and what we're going to do is we're going to expand this down, and you can see there's a lot of different tabs here. I'm going to actually focus on competitors here. So these competitors, you can actually choose them or sometimes they're already populated for you. So if you don't like the ones that are already populated in here for you, just click on Edit Competitors and you can just add in whatever ASINs you want or you can choose them from this list down here. I usually put my own five that I want and it's the top five competitors that you have. Once you've done that, you can actually see them listed here. You can see if they have a coupon here. You can see if they have done anything in terms of revenue, if they're doing really well, if their price is a little bit different. But this is actually going to get in more detail in this Competitors tab. So on this sidebar here where there's these little swords, you're going to click on the Competitors tab and you're going to be able to see more in detail about your competitors. And so this is not just those five for that one product. This is going to be all of your competitors that you've chosen.

Carrie Miller:

So each product on that main dashboard you're going to see five, but this is where they're all going to be put together in one page and you're going to be able to see price changes and all kinds of different things like BSR. And if you wanted to customize and get alerts, you can actually get alerts for your competitors so you can see if their BSR has increased by a certain amount. If it's decreased, you can see if their review count has increased by a certain percentage or if it's decreased, or if their sales have increased or decreased. So that way you can see, hey, their sales are soaring, what are they doing, or maybe they're decreasing, and you can capitalize on that. There's a lot of different ways that you can utilize this and these are the different default or different settings that you can use. Now you can just uncheck it if you don't want to see it, or check it if you do want to see it, and you can add in whatever percentage number that you want to. So that is how you kind of edit these, but it'll show you. You know in general, if you know, there's some changes in price and things like that. But if you go down here to insights as well, we have some more information here. You can add in insights, for you know if their competitor changed the price or a coupon, you can actually get an alert for that. You can also see if they've changed their listing and you can see if they've changed any performance. So, right here, for a coupon, you can say you know if it's a price increase or decrease, or a coupon offered or a coupon no longer offered. You can edit this, however you'd like to get those alerts.

Carrie Miller:

If you uncheck it, you won't get any. For listing change you can change, you can check off which ones of these that you want. So do you want to see if they've changed their title, their main image, their category and subcategory? And then, finally, you can see about their BSR and their review count, just like I kind of showed you this a little bit before. So this is where you can really control all of the Competitor Insights. There's a lot more different insights and I'll go over there those in other videos, but this is just focus on competitors. So this makes it very, very easy for you to go into that dashboard every day. That dashboard is going to show you a little an alert button or it'll say insight ready, and it's going to show you those things in the way that you set them up. So if you wanted to see if they've increased, you know, by a certain percentage of sales, you're going to be able to see that in that insights dashboard. You're going to see if they've added a coupon or if you wanted to see if their title changed, you're going to be able to see all of that in the dashboard and it's going to be so easy for you to monitor just in seconds, where all of this stuff would take you hours actually to do, to monitor every day. Where we have it ready for you every single day in the dashboard, easy to see, and you're going to get a great overview of what your competitors are doing so that you can stay competitive and you can capitalize on anything that they are slacking on. So go ahead and check out the insights dashboard competitors section and let us know what you think. Bye.

Shivali Patel:

Awesome. Thank you for that, Carrie. I know the ability to monitor competitors with set thresholds was something that I was looking forward to for a while, and it's incredible to finally have it up as part of our tool set. Other than that, that is it for this week. I hope you learned something from this week's Weekly Buzz. We will see you next week to talk about what is buzzing.