Jungle Scout’s Competitive Intelligence (CI) is your secret weapon for understanding why your market share might be slipping and for gaining the insights you need to win it back. Amazon is a bustling marketplace with countless similar or even identical products, and different sellers use various strategies to stand out. With CI, you can precisely see those successful strategies and adjust yours accordingly.
Why do you need Competitive Intelligence?
Competitive Intelligence helps you comprehend your position in the market and identify reasons for potential lagging. Without this insight, you run the risk of holding costly unsold inventory, making uninformed investments in PPC campaigns, or implementing ineffective marketing strategies. Competitive Intelligence provides vital data that individual product metrics cannot, supplying a comprehensive market perspective essential for well-informed decision-making.
Whether you're an established seller or selling for the first time, chances are you are looking for the following insights:
- How to outperform competitors: Use CI to adjust pricing, optimize product listings, and conduct keyword research for marketing.
- How does my competitor benchmark their brand? Use CI to understand their market position and identify areas for improvement within your own brand.
- Diagnosing sales fluctuations: Determining whether changes in market share are a result of their actions, competitor actions, or broader market trends.
- Exploring catalog expansion: Identify opportunities to expand your product range.
- Driving growth: Utilize Amazon PPC and organic growth strategies like review generation and keyword optimization.
What is the outcome of using Competitive Intelligence?
Incorporating a comprehensive competitive intelligence strategy into your Amazon business can save time and money on marketing and advertising while helping you avoid poor product investments. By having a complete view of the market landscape, you can confidently answer vital questions: Is it me? Is it my competition? Or is it the market? Adjusting your strategy based on competitor best practices or exploiting weaknesses in competitor performance can significantly boost your earnings.
Use Cases
Competitive Intelligence can address a variety of use cases.
Market Segment Identification
- Who are my competitors today?
- Customer value: See what products to monitor and analyze further.
- Solved with: Competitive Segment creation
- Who are my closest competitors?
- Customer value: Focus on the most important competitors.
- Solved with: Use the "Closest competitor" filter
Market-Level Analysis
- What are the market trends and opportunities?
- Customer value: Identify emerging trends, seasonal patterns, and potential opportunities.
- Solved with: Market revenue, market share, price/revenue scatterplot, and SOV data points.
- What is the overall market health and growth potential?
- Customer value: Assess the market size, growth rate, and expansion potential.
-
Solved with: Data points from the "Market Revenue" time series chart
- Note: Category-level data and market growth rate will be available later.
- What are the key drivers of sales and revenue in my category?
- Customer value: Identify factors influencing sales and revenue.
- Solved with: Review Analysis, price/revenue scatterplot.
Product-Level Analysis
- How does my product perform compared to competitors?
- Customer value: Analyze sales, ranking, and market share against competitors.
- Solved with: Revenue/sales/units sold time series, rank tracking, root cause analysis, review analysis, and SOV data points.
- How can I optimize my pricing strategy?
- Customer value: Determine optimal pricing based on competitor pricing and market demand.
- Solved with: The Price/revenue scatterplot.
- How effective are my marketing and promotional efforts?
- Customer value: Evaluate the impact of marketing campaigns on sales performance and market position.
- Solved with: Position Tracking
- What are the customer sentiment and feedback trends?
- Customer value: Monitor buyer reviews and feedback to understand the sentiment and improve product quality.
- Solved with: Review Analysis.
- How can I enhance my product development process?
- Customer value: Use market data to inform product development.
- Solved with: Review Analysis
- What are the best strategies for expanding into new markets?
- Customer value: Evaluate potential new markets and develop market entry and growth strategies.
- Solved with: Researching products that you are not selling
How can I get Competitive Intelligence?
Competitive Intelligence will be available on our top-tiered plan for $399 per month or $3588 per year (which is $299 per month, saving you 25%).
This product tour will help you get a sense of what this feature looks like and how it works.