Understand the Amazon Share Of Voice Analysis

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Share Of Voice could be defined as the percentage of reach and eyeballs your brand has for a given set of search queries in comparison with other brands in your niche. Are you keeping an eye on your competitors? Monitoring and benchmarking your performance against your competitors regularly is key to performing better than them. Analyzing who the real competitors are in your niche and getting an idea of their marketing activities can be a challenge for any Amazon brand. 

Measuring your performance on a brand level, in key areas such as content, market share, pricing, ratings, and visibility is imperative. 

The constantly growing competition is what poses the main challenge. While planning your pricing and marketing strategies the most important factors to be considered are your competitors’ numbers (it includes both the number of competitors in the niche as well as their pricing and marketing activities). 

One of the best ways to learn about your competitors is by performing a share of voice analysis.

What is a Share Of Voice Analysis

A Share Of Voice Research represents the exposure a brand is getting relative to competitors. Share of voice is directly linked to brand awareness and product sales. By tracking this metric over time, an organization can understand where its strengths and weaknesses lie, as well as the steps it should take to improve.

Share Of Voice could be defined as the percentage of the market your brand has in comparison with other sellers in your niche. It highlights your brand’s visibility and depicts the level of dominance of your brand in a given industry or category.

The Share of Voice helps you analyze the efficiency by products. It is known that Amazon is highly saturated but nascent in a lot of popular niches and categories, yet there is a constant increase in competition on the platform. As a seller, brand, or agency you need to fabricate a strategy that will allow you to keep a continuous track of competitors, both new and existing. They could be exceeding their existing numbers or joining your competitive arena. 

This would allow you to also identify the competitors that you thought were legitimate but they have very less or no potential. You will thus have a clear list of competitors who can potentially steal the market share and beat you.

Amazon Share Of Voice

When we talk about an Amazon SOV, it means knowing your main organic and sponsored competitors. This means, identifying the products ranking organically for the same keywords as yours and brands that are bidding and advertising on these keywords. This will also include broader elements of your brand presence on the platform, including, ratings, impressions, click engagement, and more. 

However, it is important to secure other areas of your business also. For instance, your inventory position. Using an SOV analysis will help you identify the competitors and track their pricing policies, promotional activities, Enhanced Brand Content / A+ content, pay-per-click activities, and their reviews.

Threefold Analysis

On Amazon, the analysis is threefold. The share of voice includes analysis on -brand level, product level, and keyword level.

A Brand SOV analysis will give you an overview share of voice for your branded keywords. This will give you the list of competitors that are ranking on your branded keywords or the competitors that are attacking your brand or products by bidding on your branded keywords. However, a competitor brand might not be competing against all your products, therefore performing an SOV on a product or keyword level for more granular results is very helpful. While performing a keyword-level SOV, you will analyze keywords that are related to your products. There is a possibility for your products to rank for one or more keywords which may lead to missing out on one of the main keywords.

When you look at products, you go after the product’s ASIN. This gives you accurate and specific results on which products are ranking organically closer to your product and which are being sponsored against your products. Share Of Voice analysis gives you a clear picture of your competitive landscape and allows you to plan your marketing strategy and improve your brand’s positioning.

You can start with a simple search on Amazon, as the essence of SOV is looking up competitors you should be monitoring and learning from. The first thing you see is the sponsored brand ads, followed by sponsored product ads, eighteen organic results, and four Sponsored Product ads.  You can map all your findings in a simple excel table. Performing the SOVs regularly is very important as you want to keep track of your competitor’s performance.

Manually mapping the data is one option. But it is surely time taking. In order to automate this process, there are many software in the market, for instance, DataHawk. These eliminate the manual work and save time by performing the product and keyword research.

DataHawk provides a great product research tool that has benefits including, the ability to pull all products arranged on the basis of their organic ranks in a given category and being able to export the results in an Excel file, thus eliminating the need for you to populate an Excel sheet product by product.

SOV Analysis with DataHawk

At DataHawk we analyze the number of days during which products belonging to each brand have ranked organically and in our desired ranking range, for our analyzed period and for our desired set of search queries. 

DataHawk lets you measure the following metrics for a brand Share Of Voice:

Understand the Amazon Share Of Voice Analysis
  1. Rank
  2. Number of products
  3. Average Ranking
  4. Average Price
  5. Number Of Sellers competing for BuyBox
  6. Organic Keywords

1. Organic share of voice v/s the average selling price

This graph is very helpful to identify the competition on the basis of Average Selling Price.  

In our recent study on Mascaras on Amazon, we discussed the most popular mascaras on Amazon at the moment. We leveraged DataHawk's keyword rank tracker to analyze the competitive dynamics around the "mascara" keyword on Amazon by looking at products that appeared the most on the first page in the US where we analyzed 146 products from 77 brands ranking on page 1 for the Keyword “mascara.”

Understand the Amazon Share Of Voice Analysis

DataHawk enables you to make such analysis very quickly.

2. Product Assortment by departments:

This will give you an overview of a brand’s products and their key metrics broken down by department or level-1-deep browse nodes in which they are active. You can see in the example below, there are 101 products from the analyzed brand in Department Node 1. It has a share of voice of 98.1% in terms of assortment by the department.

Understand the Amazon Share Of Voice Analysis

3. Product Assortment by sub-category:

This gives you an overview of a brand’s products and their key metrics broken down by sub-category or level-3-deep Browse Nodes in which they are active. Here is a similar presentation of assortment, but on subcategories, named here as, “Department Node 2” & “Department Node 3”.

Understand the Amazon Share Of Voice Analysis

You can also include all the above KPIs in your SOV just by running a simple excel export.

4. Best Seller Rank Analysis 

You can map a graph like below to have an overview of the Best Sellers Rank or Sales Rank performance of a brand’s products in departments or level-1-deep Browse Nodes in which they are active. The Best Sellers Rank is a metric developed by Amazon that reflects a product’s sales performance in a given category as compared to other products it competes with within the same category, while giving more importance to recent sales velocity. The closer it is to 1 the better.

a) By Department:

Understand the Amazon Share Of Voice Analysis

b) By Category:

Understand the Amazon Share Of Voice Analysis

c) By Sub-category:

Understand the Amazon Share Of Voice Analysis

5. Rating Analysis 

This is an overview of a brand’s products by Ratings count in terms of ranges. This is the average ratings count figure in the products assortment.

Understand the Amazon Share Of Voice Analysis

6. Star Ratings and NPS Analysis

Overview of a brand’s products by Stars Ratings in terms of ranges and average, median, min, max, and quartile values, along with an analysis of the analyzed brand’s Net Promoter Score.

For instance, you can understand what percentage of the product's assortment is rated certain stars or higher, which would reflect on customer satisfaction.

7. Pricing Analysis

Overview of a brand’s products by Price in terms of ranges and average, median, min, max, and quartile values. You can use this to draw insights on how a better pricing distribution strategy can ensure that most products have an active Buy Box.

Understand the Amazon Share Of Voice Analysis

Here’s an overview of a brand’s products listings pages by A+ Content adoption and the number of images. As you can see in this example, 48 products representing 46.6% of the assortment analyzed for A+ content usage didn’t have A+ content.

Understand the Amazon Share Of Voice Analysis

You can also analyse the products representing x% of the assortment and the number of images they have.

For instance you can see here that, 13 products representing 12.6% had only 3 images. A focus should be directed towards products with less than 3 images to ensure these listings reach such a minimal threshold which is helpful with increased product visibility, conversion rates, and brand image.

8. Seller Analysis 

It provides an overview of the top 10 sellers distributing a brand’s products based on recently-won Buy Boxes.

Understand the Amazon Share Of Voice Analysis

9. Organic Keyword Ranking Analysis

Overview of the top 30 keywords by estimated search volume for which a brand’s products are ranking organically.

Understand the Amazon Share Of Voice Analysis

Gaining insights on the environment where you are working is crucial to success and growth in a market as crowded and competitive as Amazon.  Moreover, the process of Share of Voice analysis itself can strike a plethora of ideas around marketing opportunities for your brand.

So if it has been a while since you’ve researched your competition and your space in the market, make sure you prioritize this soon!

By regularly monitoring your SOV on Amazon, you will be able to benchmark your market share and measure your market dominance in your unique space — among both existing and prospective consumer base. A knowledge of your current performance puts you in a more powerful position and helps you unveil new ways to boost growth and expand your customer base.

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