If you invest in advertising, you’re probably always asking yourself the same questions. How well is my investment performing? How good are my key performance indicators (KPIs)? And how can I improve?
Until now, you could only compare your present performance to your past performance . . . Well, I’ve found a tool to change that.
Based on data representing $2.5B in ad revenue across 170,000 products and 20,000 product categories, the Sellics Benchmarker is the most powerful ad performance tool on the market. And it’s free.
What is the Sellics Benchmarker?
Like many sellers, I see a lot of opportunities on Amazon. But the space is extremely competitive; 2 sellers join Amazon every minute, and 90% of those new sellers don’t make it past their first year, according to data from Marketplace Pulse.
To surpass the competition, you need to understand it. And this is what makes the Sellics Benchmarker tool better than anything else on the market: it will put your performance into context and provide you with actionable insights to make you a more profitable advertiser on Amazon.
Getting started with your Sellics Benchmarker report
One of the things I love about working with this report is its accessibility. Once you put in your request on Sellics’ website, you’ll receive your free report within 24 hours.
When you open the report, you’ll see a performance badge in the top right-hand corner giving you an overall account score. Right away, you get a great overview of how you are doing and what your growth potential is.
The different badges reflect the overall standing of your account in the following way:
- platinum: top 10% of peers
- gold: top 20% of peers
- silver: top 50% of peers
- bronze: bottom 50% of peers.
Tip: use the book a call button for a free chat with one of Sellics’ Amazon ad experts. They can help you interpret your Sellics Benchmarker report or tell you more about how you can use Sellics to optimize your advertising campaigns.
Understand changes in your KPIs
High-level KPIs like ACoS are influenced by so many different factors, it can be difficult to know what’s causing changes in performance.
The performance funnel is great because 1) you can see all of your metrics in one place and 2) the funnel shows how each metric factors into your KPIs, allowing you to easily identify what is causing changes.
For example, in the demo report above, I can see that ACoS rose because ad spend increased more than ad sales. Furthermore, I can see that a decrease in conversion rate and average order value (AOV) held back ad sales.
Make sure to click the “MONTH-OVER-MONTH CHANGES” button just beneath the funnel to track your performance over time.
Get a deep-dive for your top 100 ASINs
The Product Analysis section is my favorite part of the tool because it provides you with ASIN-level performance data.
Just like the performance funnel, the design allows you to easily carry out powerful analyses, and most importantly, it’s easy to understand.
First, I like to use the “FILTERS” button to filter for a minimum amount of ad spend. This way, I know I’m optimizing products that have a significant impact on overall performance.
Then with the remaining products, I look at the colored circles next to the KPIs to see whether they are above or below the sub-category benchmark. The color-coding system works as follows:
- green: you’re in the top 40% = good job
- yellow: you’re in the middle 20% = you need to improve
- red: you’re in the bottom 40% = you have huge opportunities for growth.
Because ACoS is basically determined by click-through rate (CTR), conversion rate (CVR), and cost per click (CPC), I usually look for red and then yellow dots next to my CTR, CVR, or CPC, and then begin optimizing those with Sellics’ software.
While you don’t need the Sellics software to get your free Sellics Benchmarker report, I definitely recommend it! They have automation and AI features that harness the power of big data to do all of the heavy lifting for you.
Click here to try the software for free for 14 days.
High-level campaign strategy
The internet is full of advice about how to optimize your KPIs, but very few people will get into the nuts and bolts of how you should structure your ad campaigns. Unless you’re paying them a lot of money, that is.
This is another area in which the Sellics Benchmarker delivers incredible value. The Account Structure section gives you an overall view of how your account is set up and compares it to other high-performing accounts.
The tool calculates three different metrics: ad groups/campaign, ASINs/campaign, and keywords/campaign. Then it gives you easy-to-read “grades” for each. The grading system works in the following way:
- green: good
- yellow: consider making some changes
- red: you probably need to restructure your campaigns.
Unless you’re an advertiser who has more than $10,000 in ad spend per month, here are some of the general guidelines that the tool recommends.
- Ad groups/Campaign: Having fewer ad groups per campaign will give you more control over your budget.
- Advertised ASINs/Ad Group: For most advertisers, up to 5 advertised ASINs per ad group will be ideal.
- Keywords/Ad Group: For most advertisers, between 5 and 20 keywords per ad group will work best.
Also, if you haven’t seen them yet, I’m a big fan of Sellics’ free guides. They provide great strategic blueprints that can help you set up your campaigns for success. Here are links for you to check out:
- Sponsored Products blueprint (beginner)
- Sponsored Products blueprint (advanced)
- Sponsored Brands blueprint
- Sponsored Display blueprint
The Ad Format Deep-Dive
For advertisers who run both Sponsored Products and Sponsored Display, the ad format deep-dive is probably one of the best parts of the Sellics Benchmarker report.
A graphic displays my ad spend distribution compared to the category benchmark, so that I can easily see if I should consider investing more or less in an ad type.
Scrolling down, you can get ad-format-level KPI grades and Benchmarks. If you click on the “+” button next to any one of the KPIs you’ll be able to do an ASIN-level analysis for the ASINs that you advertise with Sponsored Products.
By using the insights provided by the Sellics Benchmarker tool to optimize my advertising account, I boosted my conversion rate by 30% within just a few weeks. And this was only after my first report.
One of the greatest aspects of the Sellics Benchmarker is that after you sign up for your first report, you’ll get a report every 30 days that contains data from the previous month. In this way, you can continue to optimize and fine-tune your account to reach your Amazon advertising goals.
The value offered by this tool is tremendous. Get your free Sellics Benchmarker report today to take your advertising to the next level and beat the competition.
If you’d like to learn more about the Sellics Benchmarker or how to use it to optimize your Amazon advertising campaigns, check out Sellics’ complete guide to the tool.