Understanding Customer Segments Through RFM Analysis

In this special episode, a couple of key players from Amazon Corporate join us to discuss some brand new functions released for sellers, including one that gives us unprecedented ability to identify and target our repeat customers.

What if harnessing the power of Amazon’s vast data pool could revolutionize your e-commerce strategy? In this episode recorded live from Amazon Accelerate, we introduce a couple of cutting-edge tools, Amazon Business Planner, Customer Loyalty Analytics, and Customer Journey Analytics, designed to transform Amazon brands’ approach to their operations marketing. Our special guests, James Casazza and Wei Li, prominent figures from Amazon Corporate, share how these new tools offer brands the ability to set goals, receive personalized action plans, and effectively manage their business data with self-service capabilities. This episode unpacks how brands can gain confidence and clarity amidst the overwhelming flow of information, aligning their strategies seamlessly with their business objectives.

Discover the magic of artificial intelligence as we explore a revolutionary business planning tool that’s setting new standards in the e-commerce landscape. This tool provides brands with AI-generated plans, pinpointing impactful goals like boosting ad-attributed sales and enhancing profitability. By offering step-by-step recommendations—from campaign strategies to keyword optimization—the tool updates dynamically, suggesting fresh opportunities and strategic enhancements beyond advertising. Join us as we dissect its ability to deliver transparent progress tracking with detailed visualizations, historical comparisons, and a focus on profitability through cost-reduction strategies and content optimization.

Get ready to dive into the world of customer analytics with Amazon’s latest tools aimed at understanding diverse shopper behaviors. We spotlight the Customer Loyalty Dashboard and Customer Journey Dashboard, key innovations that offer brands deeper insights into customer behavior. Our guest Wei, shares her role in developing tools like the Search Query Performance and Product Opportunity Explorer. These analytics resources empower brands to tailor promotions, prevent churn, and boost loyalty among customer segments. By leveraging predicted customer lifetime value and promotional strategies, brands can enhance engagement, conversion, and ultimately, customer loyalty.

In episode 602 of the Serious Sellers Podcast, Bradley, James, and Wei discuss:

• 00:54 - Amazon Accelerate New Tools Announced Overview
• 02:00 - Amazon Launches New Business Planner
• 05:07 - Simplifying Data for Amazon Business Planning
• 11:16 - AI-Powered Business Planning Tool
• 12:39 - Dynamic Business Planner Features and Benefits
• 16:42 - Data-Driven Amazon Customer Loyalty Analytics
• 20:08 - Amazon Department Provides Key Seller Tools
• 23:20 - Understanding Customer Audience Types
• 28:26 - Understanding Buyer Behavior and Cart Abandonment
• 35:13 - Unlocking Valuable Amazon Data Insights
• 37:29 - Thanking Amazon for Launches at Accelerate

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Transcript:

Bradley Sutton:

Today's a special episode, as a couple of key players from Amazon Corporate are with us on the show to talk about some brand new functions released for sellers, including one that gives us unprecedented ability to identify and target our repeat customers. How cool is that? Pretty cool, I think Sellers have lost thousands of dollars by not knowing that they were hijacked, perhaps on their Amazon listing, or maybe somebody changed their main image, or Amazon changed their shipping dimension so they had to pay extra money every order. Helium 10 can actually send you a text message or email if any of these things or other critical events happen to your Amazon account. For more information, go to h10.me forward slash alerts. 

 

Hello everybody and welcome to another episode of the Serious Sellers podcast by Helium 10. I'm your host, Bradley Sutton, and this is the show that is a special episode recorded live at Amazon Accelerate. 

 

This was done in Seattle a few weeks ago and, as you probably have seen from other episodes, we had a lot of new releases, of new data points and new functionality that Amazon is releasing. Shout out, first of all, to Addy from Amazon, who helped us hook us up with some of these interviews but we had the privilege of being able to interview a couple of the key people that are involved in the ideation and implementation of some of these new tools, and so in this episode, we're going to go over a couple of things in from Business Planner, which is something new, and also customer loyalty analytics, which might blow your mind as far as the kind of targeting ability and being able to understand, you know, how your customers go through the funnel. I think it's going to be interesting because, you know, a few years ago we would have never thought that Amazon would release this kind of data to sellers, so it's really awesome that they're doing that and we get to talk to the person responsible for the creation of this. So let's go ahead and hop into the episode

 

Bradley Sutton:

So I'd like to first start off with just getting your background. We're obviously here in Seattle right now. Where were you born and raised? 

 

James:

So I'm from New York originally. I grew up about an hour outside New York City, really close to my grandparents' dairy farm. But for the last 20 years, I've lived outside Detroit. After college, I moved up there. 

 

Bradley Sutton:

Hold on a quick second. This is an important question. Somebody who lives in New York. They move somewhere else. Are you a New York sports fan or a Detroit sports fan? 

 

James:

So I've kept loyal to my New York teams. It's a little difficult because especially now the football season started, keeping up after the Giants and Jets is keeping your head low and the Lions finally have something to be excited about. But I'm a proud father to three boys and I will say they all have their Aiden Hutchinson jerseys on. We're really excited last season and looking forward to this one. 

 

Bradley Sutton:

Awesome, awesome. So you were talking about. You graduated university. What direction did your career take you in that? 

 

James:

So early in my career, I worked in automotive, digital marketing, and then in the social media industry, and I really found a passion for using software and technology to help independent businesses reach their consumers, really connect, and ultimately drive their success, and that led me to Amazon. So I've been with Amazon for just over six years now. I'm currently a senior manager of product management in the Selling Partner Experience organization, and, while that's a bit of a mouthful, what it means is that I'm really working on building the tools that sellers are using to run their business and ultimately thrive in the Amazon store. Recently, my team worked on a complete redesign of the Seller Central homepage, which rolled out late last year, and today I'm excited to join you and talk about the next exciting tool that we're building, called Business Planner, which brings self-service capabilities to sellers to plan their business, set goals and objectives and receive a personalized action plan that will help them attain their goals in the store. 

 

Bradley Sutton:

Awesome. Now, I think that most brands would agree with me in that there is no other mechanism of selling whether we're talking brick and mortar, whether we're talking online that provides as much data as Amazon does to its brands. It's really incredible. I think sometimes we're spoiled, those who start on Amazon. They don't know how it is or how it used to be when you're trying to make money, and so I can totally understand that. Hey, with all this data, there's going to be some insights that can come from it. So what about the timing? Why did you decide, hey, now is the right time to go ahead and launch this new tool. 

 

James:

Yeah, so the idea for Business Planner actually started at Accelerate in 2023. I was talking to a number of different sellers and really this theme came out about the data that you're talking about. One seller likened it to being dying of thirst they're just so hungry to know what to do, and yet they're standing next to a fire hydrant. It's just spouting all this data at them. And so the question they had was like help me organize this, help me decide what's most important so that I can act confidently and know that that's aligned with the goals that I have for my business. 

 

And so, while Amazon is providing plenty of reports and recommendations, it's really difficult to summarize or interpret that and get to an action plan. And we know that because sellers are working with account managers or even finding really productive partnerships with third-party software providers to help make sense of this data. And so our goal is to help democratize this access to data and bring the type of planning that sellers do offline when they're setting quarterly or yearly objectives and then want to track that and some may have teams that are doing customer acquisition or operations. They might be the individual's performance goals. We want to bring that offline planning into our tools so that sellers can easily keep track of where they're at and act confidently to drive their success. 

 

Bradley Sutton:

You know, obviously, as brands, we have a lot of our own data, but I believe that this tool is also bringing in aggregated data from other sources, not just what's happening with your own listings. Is that correct? 

 

James:

That's right. So throughout this process we've talked to so many sellers and I've just been impressed with the passion they have and the interest and the different opportunities that they're taking to bring insights and data analysis to really help them decide how to act. So with Business Planner, we're bringing together the power of data from thousands of different listings and all the customer activity in the Amazon store to create personalized action plans that will help sellers to achieve their goals. So they'll have a single place to go to benchmark their performance, identify their largest opportunities and then to generate a step-by-step action plan that aligns with the things that matter most to them. So, whether you're a new seller just getting started out in the Amazon store or you're an established brand with a healthy business that is ready to go to the next level, they can get a personalized plan that's specific to them and the goals that they want to achieve in the Amazon store. 

 

Bradley Sutton:

Now, you mentioned you worked on the Seller Central homepage. Now on the homepage there's already kind of like recommendations that might come through. There's a whole growth opportunity section. So how does this new feature here compare to what's already out there, and is it better? 

 

James:

So we're trying to take a best of both worlds approach. So when I think about the recommendations on the homepage and growth opportunities, it makes me think of a buffet where there's so many different options and there'll be like lots of tasty treats and plenty of nourishment there. So there's lots of good things there. But if you're trying to take like a structured plan, maybe instead you work with a nutritionist who's going to first ask you some questions about what's important to you. Are you training for the Olympics? Are you trying to slim down by a few pounds, like what is really your goal here? 

 

Bradley Sutton:

That's what I'm going to say. I'm going to say, hey, I'm training for the Olympics. That's why I'm eating so much food at this point. 

 

James:

Exactly, exactly, no-transcript in those other experiences and then also providing you with detailed tracking so you can see as the days and weeks go by, are you actually getting towards that goal? 

 

Bradley Sutton:

Let me piggyback on something you just mentioned there pulling data from some of those other recommendations. What exactly is driving other than just raw data? That's what does a lot of data there. I'm assuming maybe AI has some component of it, absolutely so. 

 

James:

I think AI is a really powerful tool because it can crunch massive amounts of data and identify patterns and discrepancies. So perhaps the seller is underperforming in their ads campaigns. We might be able to come back with specific keyword optimization recommendations and then they can increase their ad attributed sales and grow revenue. Or we might spot a change in demand for key ASINs that would require a different inventory strategy and it might be an opportunity for the seller to reduce their FBA fees and reduce costs of maintaining their current business. And so by applying machine learning and AI to that massive amount of data, we can kind of slim that down into a specific plan of action for the seller and by starting with the goals that they set. We're no longer in this business of kind of predicting what the seller might want. We start by asking the question and then we have a lot more confidence that, because the seller has set the goal, that when we come back with an action plan it's actually right for them and where they want to take their business. 

 

Bradley Sutton:

Awesome, awesome. Now for those who maybe haven't seen it yet in their Seller Central dashboard, where can they find this? Walk us through a little bit of a scenario, maybe, how they can see yeah, absolutely. 

 

James:

So Business Planner is going to be rolling out in the US store in just a couple of weeks. So later this month you'll start to see a tile on the homepage in that recommendation section that you talked about. It'll also show up on the left side menu of growth opportunities. From there you can access Business Planner, which is your dashboard for action planning. When you first visit, we'll have some recommended goals. So that's where we've assessed how the seller's performing, set some benchmarks and looked for the strongest opportunities where they can improve their performance. We'll rank those based on how big the impact is. So the most impactful goal will be at kind of the top left of that page and if that goal aligns with the objective that the seller has, they can click on it and see details about the plan. So maybe it's a four-week plan or a 12-week plan to increase their ad-attributed sales, because we see that as the largest opportunity and they'll be able to review the details and if they want to move forward, they just click to create a plan. 

 

And this is where the really exciting part happens. That's where the AI steps in and kind of scans across all those different recommendations, opportunities, and where we see the most potential to achieve that goal. So in this case seller is trying to increase their ad-attributed sales. We might come back with some specific product level ad campaign recommendations or keyword optimization. We put that into like a step-by-step plan and so the seller from the Business Planner can then look into that plan. There'll be graphs right on the page where they can see their current performance, what the target's going to be, and then a list of those recommendations that's organized and sorted for them. 

 

One of the special things about Business Planner is that it's constantly updating as much as once a day. It'll pull in new recommendations or reprioritize what's there because of progress that the sellers made, new opportunities that emerge Perhaps all of a sudden keyword traffic and customers are searching for new products on Amazon and that might change. 

 

The order of recommendations will reflect that in the business plan. So it's a it's a living thing that they can check back to and and going to show them that next best action they can take to ultimately achieve that objective. And then you know, once we've reached the end of the plan, we'll show that completed goal right and the experience with a record of all the things they did, and I think that's really important to sort of earn trust with the sellers that you know some of these things might require a little bit of an additional investment or might go against the common knowledge of how to be successful in the store. But I'm confident that, as we, you know, offer these plans because we're starting from what's most important to the sellers, that they'll see that that's helping them achieve their unique objectives and make their business as successful as possible in the store. 

 

Bradley Sutton:

Okay. Now, when I was looking over some of the notes on this new tool, you mentioned a scenario with advertising, but I believe there's also another scenario where even it could get to something that has nothing to do with advertising, but like your A+ content. So I was trying to wrap my head around how that would work. So if I already I mean obviously, if I don't have A+ content the suggestion would be hey, get A+ content going. And now there's AI tools that help with that that we've talked about here at Amazon Accelerate this year. But if I already have A+ content, is this AI detecting like, hey, this might not be the most optimized and you need to tweak it, or what's it doing then? 

 

James:

Yeah. So it's going to look throughout the sales funnel that you might see for a product. It might look at search activity glance views at the detail page and then I think a key lever for sellers is are they converting those views and visits to their products into sales? And so it might come back with a recommendation to tweak that content to better align with the search terms that customers are using. Or it might see a strategy where they could increase their featured offer win rate and ultimately convert more of those customers into buyers. And that's where the AI is powerful. 

 

It's going to look across those different opportunities and see where can we create the most leverage, and it was important to us as we were building Business Pointer. It's not just going to come with recommendations that might require some additional investment from sellers. So at launch, one of the things that we're including is a set of cost reduction goals, and that's where we might look at inventory levels and fee structures and recommend either promotions and deals or a different stocking strategy to the seller that can help them reduce their costs to serve and be more profitable in the similar All right, excellent. 

 

Bradley Sutton:

So, regardless of what it is, whether we're talking A+ content, whether we're talking advertised I set a goal, I implemented it. You mentioned tracking the progress. How can I see how I'm you know my road to that? 

 

James:

Yeah, absolutely so. This is where we want to bring in some like detailed data visualization. So when you come back to Business Planner, you click into the goal that you're tracking against, we'll have a big chart on the page with your progress, the projection of where you're going to end up, and also allow you to do some comparisons against a historical period so that you can see am I really outperforming, am I getting the gains? So back to your training for the Olympics. We want to see that your sprint times are coming down or your weight lifts are increasing in weight, and it's the same thing here. So if we're trying to improve our ads attributed sales we want to make progress on that metric. If we want to reduce our costs, we should expect to see our inventory performance index improve and by providing that granular view into the metrics, we can show that the seller is progressing towards their objective. 

 

Bradley Sutton:

Excellent, all right, so now I'm inspired by listening to this podcast and I'm ready to go in. Maybe by the time they're listening to this, maybe it is available already in Seller Central. If I'm just getting started, what's maybe the first thing I should do, or what's the best way to get started with this? 

 

James:

Yeah. So we want Business Planner to be a regular thing and we think that sellers will start to use it as it aligns with their monthly or quarterly business planning. So my first recommendation is check it out. Either go through the recommendations on the Seller Central homepage or go to growth opportunities and look for Business Planner in that left menu and you can start browsing those recommended goals. Those will update at least once a week with the latest and greatest opportunities that we see for you as a specific seller and based on, like your business and your opportunity, and then, once you find the plan that makes sense to you and you kick that off, you know, check back regularly. Those action plan items might update as much as once a day. So we want this to be a kind of like a regular part of your journey as a seller and a regular part of the tools that you might use on Seller Central. 

 

Bradley Sutton:

Well, thank you so much for bringing this tool, thank you so much for coming on the show and talking about it, and I'm excited to use it myself, and I'm sure a lot of the brands out there will be excited. And I can empathize with you about the New York teams. I mean, I'm a Chargers and Clippers fan, so I'm a glutton for punishment myself. So thanks a lot for doing it. Yeah, thank you so much for being here. This was fantastic actually. This she doesn't know I'm going to say this, but this was the highlight for me, for actually Amazon Accelerate was being able to interview our next guest, who I am super excited to meet her, not only her, but also especially what she's going to be talking about. So, Wei, welcome, welcome, thank you. Thank you for meeting with me. 

 

Wei:

Thank you for having me. 

 

Bradley Sutton:

Now let's what I do with all of my guests. I like to get the backstory a little bit, so where were you born and raised? 

 

Wei:

Definitely. I was born and raised in Beijing. I moved from Beijing to Chicago actually in 2003 for graduate school, so before Amazon, I worked for some of the big names like Merrill Lynch, KPMG. I have also worked for a number of startup companies in the fintech, pharmaceutical and supply chain companies. I joined Amazon in 2011. I have spent most of my time here with a selling partner services organization. Currently, I lead the selling partner growth analytics team, and our team built a few that I was on. 

 

Our team built a few seller-facing applications in Seller Central and your comment earlier. I actually I'm a mom of three outside of work and I have a seven-year-old, a six-year-old and a baby under one. 

 

Bradley Sutton:

Yeah, wow, that's awesome, awesome. I miss those days. My kids are both. My kids are both in their twenties now and so, like I talked, when I talked to parents, when I talked to parents who still, I was like, oh man, you don't know how lucky you are to have kids at that age, because I wish I could go back in time Now, going back, one thing you said. You said you came to graduate school in Chicago. Which school did you go to? 

 

Wei:

Yeah. So I got two masters, one from Illinois Institute of Technology and got my quantitative finance degree there. 

 

Bradley Sutton:

And that's also Quantitative. I don't even know what that means. 

 

Wei:

And then I received an MBA from UChicago. 

 

Bradley Sutton:

Okay, excellent, excellent. You talk about your career there and on Amazon. You're very humble about the department you work at, but, guys, this is the department that I think not just me but every Amazon seller is so thankful for, which you're responsible for things like the search, career, performance and all these other amazing things that I think is so important, because brands, I think, have been spoiled by Amazon in the last couple of years with all the data that they get. They don't realize that if you were selling on Amazon, maybe like five, 10 years ago, some of the stuff that you guys are providing, you actually had to pay like thousands and thousands of dollars and most didn't even qualify to get it. So, first of all, again, thank you so much for what you do at your department. Now let's just talk about that a little bit Like how do you guys approach, what kind of analytical tools, what kind of information you're going to provide brands in? 

 

Wei:

a few different domains. So, first of all, we provide a traffic and sales data through Business Report, which is one of the most visited tools in Seller Central. Additionally, we also provide this tool called Opportunity Explorer. So Opportunity Explorer is a selection analytics tool. It helps sellers identify new selection to sell in Amazon store. Additionally, we also provide this tool called Search Analytics Dashboard. That is where we can provide some of the data on traffic, with an emphasis on search keywords. Lastly, but not the least, is the Customer Analytics Dashboard. For Customer Analytics Dashboard, I'm actually very excited to announce some new launches here. 

 

So we started out by building dashboards about customers and their purchase behavior. We have demographic dashboards to tell you who your customers are. We have repeat purchase dashboard that tells you how often customers purchase from your brand. Additionally, we have this third dashboard called Market Basket Dashboard. It tells you what products your customers would purchase together with your brands. It unlocks some of the cross-selling opportunities. Since then, we have also received feedback from your brands. It unlocks some of the cross-selling opportunities. Since then, we have also received feedback from the brands. They want to take a customer-centered approach. So last year we launched a customer loyalty dashboard. It gives the brand a segmented view to understand who are your existing customers, from top tier to promising to at risk and hibernating customers. And then this year we're launching customer journey dashboard that allows a brand to understand your customer's entire shopping journey, from first moment they start to search for your brand to the moment when they make that final purchase. With these two dashboards, our goal is to lower the customer acquisition cost as well as increase the customer lifetime value. 

 

Bradley Sutton:

This is really important because actually, this part of all the analytical tools I probably know the least about. I'm so obsessive about search query performance and search volume and keyword data, but I think now 2024 and then going to 2025, brands really need to understand the customer and people are thinking too much just about the algorithm or things like that, but at the end of the day, we're not selling to the algorithm, we're selling to a human being, and so some of these data points that you're talking about is really important. I'm happy to, I'm really excited to learn about them today. Now, one thing you mentioned, you know, about different customers, like you mentioned, like top tier and things you know, like this might be familiar to some out there and I know you're probably going to talk about it, but we had the brand tailor promotions and we could see some of these different audience groups, now, those who might not be familiar with it. Can you talk a little bit about these customer audience types? You mentioned top tier, but there's a lot of other ones out there too. 

 

Wei:

Absolutely so. We help brand segment your existing customer base and we actually use a pretty standard methodology, is called RFM. R stands for Recency it describes when did your customer make the last purchase from your brand. F stands for Frequency it describes how frequently customers purchase from your brand. And lastly, m stands for Monetary Spend it talks about how much does the customer spend purchasing your products. 

 

We use a quantile-based approach and equally divide your customers into groups along these three dimensions recency, frequency as well as monetary spend. This allows us to group your customers into four segment top tier, promising, at risk, as well as a hibernating. By top tier customers those are the customers who purchased from your brand recently, but they may be purchasing at varying frequency and they spend varying amount. At risk customers they made a purchase but they don't purchase frequently. They also spend varying amount of money on your brand. And hibernating customers are those customers who have already churned. Equipped with this knowledge, brand can then deploy different promotion and marketing tools to re-engage these customers and thereby encourage repeat purchase and drive customer lifetime value. 

 

Bradley Sutton:

Interesting.First of all, I was today years old when I heard the word quantile, so you're already teaching me new vocabulary lessons. 

 

I realize how not smart I am when it comes to math and this kind of things, but what you know, I think the main thing that people can take away is how important it is to kind of like bucket your customers into these different brackets, because you know, somebody who's hibernating is obviously a different kind of customer, a different value to one as one who is at risk or some of the others that you mentioned, and so it's important to be able to just not consider all of our brands customers. Hey, they're exactly the same, and I think that's what a lot of brands, or especially newer brands, might be doing. Like, all my customers are the same, but no, not all customers are created equally. Let's talk about the new and potential customers. We've got the ones we've had existing, like Hibernating and things like that, and who have been part of your brand. But I think all brands are really especially concerned about hey, how do I bring new customers into the fold? And so talk to us about the new and potential customers. 

 

Wei:

We show the new and potential customers in the brand view of the customer loyalty dashboard. New customers are the ones who have made the first purchase in the last 12 months and potential customers are those customers who have not made the purchase but has engaged with your brands in some ways. For example, they may have viewed your product detail page, read customer reviews or added your products to their shopping cart or save them for later. The idea there is we want to allow brands to set up uh promotion tools to target these potential customers and convert them all All right Now, about 40 years ago. 

 

Bradley Sutton:

if we use this term cart abandoner, somebody might think of somebody who went to the grocery store and then took the cart home and then left it in the street. But when we're talking about cart abandoners on Amazon completely different meaning it's actually my favorite group of customers. For those who aren't familiar with that term, can you explain who that refers to? 

 

Wei:

Yes, absolutely. It is actually one of the new audiences that we launched this year. Cart abandoners are those customers who added your products into their shopping cart but has not made the purchase in the last 90 days. 

 

Bradley Sutton:

Now it's amazing, because this is why I think it's so important that somebody thinks, uh, more holistically about customers, because we can't think that everybody's like us as a buyer, like me, as an Amazon customer I am. I am never a cart abander, like if I add something to the cart, I buy it, like I add it to the cart and then I check out. But then I thought everybody was like me, but actually not. You're not like me, probably I'm the opposite. 

 

Wei:

I actually, I actually added to the cart and I observe uh, when does the price drop? 

 

Bradley Sutton:

and so many people are like you. Yes, I heard other people. You tell me if this is you too, but other people they're searching for like a teacup or something like that, and they'll actually add five different ones to the cart and then make the decision about do you do that one too? Sometimes, see, I don't do any of this, and so I was thinking when I first saw the numbers of this, it was just flabbergasting. I was like I cannot believe how many people are cart abandoners. And then I just started asking friends and family and I guess I was the weird one and you guys are the normal ones. But yeah, that is a huge audience and a very valuable audience. So all of these audience types, at the end of the day, what we're talking about here is we're trying to send promotions to them in different ones. So how do we send promotions to these different audiences? 

 

Wei:

Absolutely so. Today, you're able to send tailored promotions to these different audiences, and promotions are then become available to customers through search result page. I do want to share with you that as a team, we're constantly thinking about new tools that sellers can leverage or brands can leverage. So in the future, we might incorporate new tools such as coupons, Amazon buying, A+, detail page, and Manage Your Experiments, so that brands can leverage different tools to engage with their customers and help them convert. 

 

Bradley Sutton:

Excellent, excellent. Now I think one question I've gotten a lot before from different brands is hey, if I set up a promotion that's going to one of these audiences being the cart abandoners or some other audience, how do they actually see the promotions? 

 

Wei:

Promotions will show up for these customers in the search results page or the product detail page. 

 

Bradley Sutton:

Okay, so now we're looking at an example of one of these graphs here, and there's a part here that says trends. So can you explain what is this representing? 

 

Wei:

Definitely. The trend graph actually allow you to compare different metrics, for example, your total customers, total sales, new-to-brand customers, new-to-brand sales. Brands can then compare and contrast and observe how these metrics change over time. 

 

Bradley Sutton:

All right, next question. Here I can see we have a Segment view and a Brand view. Can you explain the difference between those? 

 

Wei:

Absolutely so earlier we mentioned that we will share with brands about their existing customer base top tier customer, promising, customer at risk, as well as a hibernating customer. Brand view gives you data for the entire brand, and segment view actually allows you to dive deeper into each segment. On both brand view and segment view, we will provide recommended actions that you can take to drive conversion and increase repeat purchase. Additionally, one thing I would love to call out is segment view actually gives you a predicted customer lifetime value. We use a science model to predict how likely a customer is going to purchase from your brand again and we further segment each segment based on whether the customer lifetime value is going to grow, maintain or decline. 

 

Bradley Sutton:

Wow, that's interesting. Let's talk a little bit more about this, because I think there's some brands out there who might have a product where you know what it's a vacuum. Maybe they're just going to buy the one vacuum and 10 years later maybe they'll buy another vacuum. There's others who have maybe are in the supplements, the health and household category, the beauty category, where they're very reliant on repeat purchases. So this, this lifetime value, is definitely something near and dear to their heart. But you're saying that using uh models, you can actually kind of predict some of the potential lifetime value. Can you talk a little bit more about that? 

 

Wei:

Absolutely so. We use this size-based model, and the model input considers a variety of features such as customer's profile, their browsing behavior, how they have interacted with your brands or product in the past, and then the output of the model is how likely they're going to purchase from your brand again in the next 12 months, and we will then be able to say whether the customer lifetime value is going to grow, maintain or decline as a result of that. Brands will then have further segmentation within each customer segment each customer segment. So now brands can actually launch tailored promotion specifically targeting, for example, the top tier customers, those top tier customers where their lifetime value is predicted to decline. This will allow brands to prevent these customers from churning.

Bradley Sutton:
Interesting is that available already or that's coming later? 

Wei:

This is available already today. 

 

Bradley Sutton:

I've been missing the boat on that one. I need to go ahead and start implementing that, because that's very definitely invaluable. So what are the actions that brands should be doing that we do have available? I'm obviously missing that last one, but what are some more things that we need to be leveraging right now? 

 

Wei:

So brands can achieve a number of different goals through customer loyalty dashboard, for example, if you're a brand who are trying to drive conversion and acquire new customers, it would be a good idea to think about advertising campaign and boost awareness. You can also launch a tailored promotion, as we talked about earlier, focusing, say, on cart abandoner to encourage customers to convert and make their purchase. And if your goal is to drive loyalty and encourage repeat purchases, it would be a good idea to focus on top tier customers as well as promising customers. And, additionally, we have these promotion tools where you can focus on those customers whose lifetime value is predicted to maintain or decline and encourage them to purchase more from your brand your brand. 

 

Bradley Sutton:

Now I just want to take a moment to talk to the listeners out there who might not understand how crazy it is that this kind of data is being available. This is the kind of data that companies who are selling on other channels are paying a lot of agencies, tens and hundreds of thousand dollars and it's not even that great of information, because a lot of it is just trying to predict things where they might not have that information. It's just based on perhaps some surveys and things, but this is Amazon itself, who has access to all of this data and it's giving you firsthand this kind of information. Guys, if you are not leveraging this information, you are missing out on a ton of valuable information, so make sure to use this Now. This has been great. A lot of what you just mentioned is available as of now, but right here during Amazon Accelerate, you actually even announced some new and exciting more things that are coming to the platform. Can you talk about some of those launches coming to the platform? 

 

Wei:

Can you talk about some of those launches? Absolutely, I am super, super excited. So customer loyalty dashboard the goal there is to help brands understand their existing customers so that brands can engage with these customers at the right time with a right product. However, brand frequently ask for information about what's happening in the upper funnel. We are launching this new dashboard called the Customer Journey Analytics. So Customer Journey Analytics allows brands to map the end-to-end customer journey with data and analytics, as well as recommendations. It allows brands to visualize how customers go from becoming aware of your brand all the way to consideration, maybe intent to purchase, to finally making that purchase and become a new customer to your brand. 

 

Bradley Sutton:

Wow, I'm excited to see how that's gonna work, because I think that's what we would always have always wanted that kind of information, kind of guess about it, like, all right, that's how you know, that's why I'm doing my advertising in this sense, and it's going to pay back, uh, you know in this sense, and that's why I need to have them see it this many times but to be able to actually have real data to see, that's going to be, I think, a game changer for, uh, Amazon brands out there. Well, thank you so much for launching these things. Like I said, your department is my favorite. I was about to say the best, but then I have a lot of friends at Amazon so I can't completely say that or else they might get mad at me. But my personal favorite tools definitely come from your department, and so please, please, keep giving us brands this great information. We really, really appreciate it, and thank you so much for what you've launched this week at Amazon Accelerate. I'm sure all the brands are really gonna appreciate all of this data. 

 

Wei:

Thank you.