Amazon Insights Tool: Getting Insights From Your Amazon Data
There’s ‘insights’, and then there’s insights. Sellers can technically access Amazon’s databases to gain insights into their business, but actually pulling it all together can be tricky. Uncovering what’s going on under the hood of your business isn’t the easiest to do by yourself — which is why you need an Amazon insights tool that provides real insight.
Amazon has their own that you can use: ‘Amazon Insights’. This can be a useful tool for Amazon Sellers, primarily for those starting out in FBA, but it’s not enough for those who want to understand their metrics, get to know their customers’ behavior and get ahead of the competition. They need actionable insights gained from the data.
But raw data without analysis or insight isn’t useful for decision-making. The data needs to be brought together, displayed clearly and analyzed. This way, data is translated into knowledge that helps you better understand what your customers are doing, when and why — so you can then make better data-driven decisions for the long term.
In this article, we’ll explain whether Amazon Insights is worth it and why Nozzle’s insights tool gives you the insight you actually need to help edge out the competition.
Further reading: Check this out if you want to improve your FBA game and make sense of your Amazon customer data.
Amazon’s research tool, Amazon Insights, provides insights to Sellers on their products and customers. It does this by letting Sellers ask questions directly to their customers.
What is it?
You can create custom surveys for buyers that are specific to your products and the market area that you want to research. This can be used for those who are just starting out, businesses that are launching new products and want to do some market research, or those who want to optimize their ACoS. It offers insights to Sellers about potential customers’ feelings towards their products.
By letting you ask and receive answers from potential buyers directly, it can help Sellers develop sales ideas, provide ideas on how to launch new products or edit marketing strategies.
Once that’s done, it analyzes the responses from your survey and gives you actionable insights based on how people respond.
What does it offer?
Amazon Insights lets you ask three types of questions, based on: Purchase Behavior, Product Awareness, and Product Opinion. This can be helpful for new Sellers who want to know what people think of their products. But there’s also the option to write completely custom questions if Sellers want feedback on specific things.
Maybe you want to know which of two products buyers favor, and why. Maybe you want to know how customers first heard about your product. Or you might want to know why your product isn’t shifting as many units as you think it should.
Each question gives the customers a list of answers that they have to choose from. This can be limiting, as respondents can only pick one of the available options as their answer — and can’t add their own. You also have to write the list of possible answers, so you need to know exactly what you want to learn from the survey.
Again, by limiting the answers that users are able to choose from, you limit the amount of useful information you can learn. This could end up meaning you don’t get the in-depth insights you want.
You can also choose who you want to respond to these questions, ranging from:
- Customers who’ve bought from you already
- Potential customers who’ve seen your product listing (including those who didn’t purchase)
- Potential customers who have bought something similar to your product category from another Seller
You’re not limited to asking questions of just one group, so you can set up multiple questions for multiple combinations of groups.
Does it work?
So if you know exactly what you want to learn and which target audience you want to question, you can give clear choices as possible answers to your questions.
These ‘insights’ can be useful for sellers — and Amazon knows it, pricing the software accordingly. Pricing isn’t available on their website, but prices vary based on the number of respondents you choose and the questions you ask. Sellers have reported that on average, every answer will cost you around $5.¹
As there is a minimum of 100 respondents before Amazon will give you the data, this option does not come cheap. This can impact Sellers’ ACoS and their bottom line — potentially hurting new Sellers who haven’t yet built up their profits.
And the ‘insights’ can be limited. Its major drawback is that because it’s survey-based, you’re only getting data from people’s opinions on how they think they act — not data on how they actually act. It’s feedback, not data-driven insight.
This means you’re getting access to a rough idea of customer behavior. But the real insights come from the information that ‘Amazon Insights’ doesn’t provide: the facts, figures and statistics on what your customers are doing, when and why. In other words, the real data. It’s this that helps you see and understand the nuts and bolts of the operation.
It’s one thing to get answers from customers about their own behavior; it’s another thing to look at the data to see what they’re actually doing.
People don’t always tell the truth, including in surveys. And this isn’t always on purpose. It’s more difficult than you’d think to be fully aware of what you’re doing, and why, all the time.
Try and remember the last few things you bought on Amazon, and then try and remember exactly why you did it — or why you ended up looking at them in the first place. Not many people know their own purchasing behavior or product awareness, nevermind being able to properly articulate their opinions. And if they have a limited list of answers, it might only make this confusion worse.
It’s hard to know how many people aren’t fully honest when answering a survey — experts say it ranges from a small minority to up to 50% on any given survey.² So getting ‘insights’ this way might be inaccurate or, worse, misleading — leading you to make decisions that might hurt you in the long term.
What do we offer?
Nozzle Insights offers you a different approach to Amazon product research and understanding customer behavior. Nozzle brings together Amazon data, collapsing artificially erected data silos and presents this information in clear, actionable ways.
By getting access to the data, and the insights, there’s no need for surveys — you’re bypassing the middleman (and the cost of the middleman), going straight to the source to see how customers are behaving, including when and why. It means that you can really understand your Amazon customers, without relying on unreliable customer feedback.
What does it do?
Getting the data is one thing. Getting insights is another. Nozzle provides detailed analysis to make data easier to understand while giving you in-depth insights about customers and strategy. You can:
- Understand customer purchases: Wouldn’t it be useful to see exactly what your customers are buying — and then what they’re purchasing after their first purchase? Nozzle helps you uncover when your customers are buying your products on Amazon and understand which customers to retarget with what products.
- Customer retention rate (CRR): Customers might say they’ll buy from you again in a survey, but your customer retention rate uncovers actual retention information. Understand your CRR per order number and per ASIN to successfully retarget marketing.
- Understand purchase intervals: By understanding when customers are buying again after their first purchase, and after their second, third and fourth, you’ll be able to optimize PPC campaigns to target customers at the right time — removing manual processes and reducing your ACoS.
- Customer acquisition cost (CAC): Instead of receiving unreliable opinions from customers on what they might buy and why, Nozzle lets you see hard data, like your CAC. Figure out how much you’re actually spending to acquire new customers, CAC calculator, and get insight into how you’re acquiring them.
- Customer lifetime value (CLV): By understanding your customers’ behavior, you understand how much value they provide to your business — not just when they buy one product, but over their buying lifetime. We can help you track customer behavior and make data-driven predictions for the future, enabling you to make data-driven decisions.
Nozzle lets you do all this and more. By bringing together Amazon’s data to give you metrics on your ACoS, CLV, CAC and AOV, it not only helps you make better decisions — it elevates your entire business. Being able to see under the hood of your FBA and really get to know your customers’ behavior means you can truly optimize your business marketing, retargeting and overall product and customer strategies.
There’s ‘insights’, then there’s insights
Amazon has the data you need, but they don’t make it easy to find. And even if you do find it, it’s harder still to pull it all together, analyze and glean insights. A proper Amazon insights tool, like Nozzle, does it all for you. It collapses Amazon’s data silos and brings you all your data, all in one place — giving you truly insightful insights without the struggle.
‘Insights’ through surveys can be useful, but they can also be unreliable. What isn’t unreliable is data. By understanding metrics like your ACoS, CAC and CLV, you get analysis on real-life data. In short, Nozzle lets you understand what customers are doing, not what they’re saying they’re doing.
Helping you to plan and make decisions with the confidence that they’re the right decisions for you, and not just a guess about where you should be going.
This lets you set targets — both for short-term wins and long-term goals. With actionable insights and real-time data analytics, you can see what strategies work and what don’t. This helps simplify the Amazon selling experience and gives you total transparency of data across the Amazon ecosystem.
To see how Nozzle can help you, get a free trial today.