Do you know how your Amazon PPC campaigns stack up against your competitors?
Up until now, there was no way to find out.
Sellics Benchmarker is changing that. This tool is currently in Beta and will let you compare your own ad stats against the industry standards in your category.
The best news is that you can use this tool for free while it’s still in the testing phase.
It will allow you to compare your metrics on all ad formats. Plus, you can compare the 4 vital KPIs that determine whether your advertising spend is producing the best results.
As an Amazon seller myself, I decided to take it for a test run to see what it can do.
What Is Sellics Benchmarker?
Sellics Benchmarker is a new tool that lets you compare your Amazon PPC metrics against the industry standards within your product category. This lets you know how your campaigns are performing.
Plus, it can help you tweak your ads to improve your overall sales performance.
It’s the first tool of its kind and currently free to use for all Amazon sellers.
It’s still in Beta and the full version will be released in 2021.
So, this is a great time to check out Benchmarker while you get to use it for free.
Benchmarker covers 29 categories and 3 major marketplaces.
Categories currently evaluated include:
Here’s an example of what the industry standard metrics are for clothing:
How Does Benchmarker Work?
Once you sign up for your free account, all you have to do is connect your Amazon advertising account.
Benchmarker will then go to work to analyze your data and give you a report.
This report will set out how your key metrics compare with the industry standards in your category.
The tool will look at all three ad formats if you use them all. These are:
Your metrics will be graded on the 4 key performance indicators. These are:
This is an example of the metrics you’ll see from a demo account in the Sports and Outdoors category:
As you can see, there’s plenty of room for improvement for this account.
We’ll look at the individual metrics in more detail later.
What Are The Benchmarks Based On?
Sellics calculates the industry benchmarks from actual Amazon advertising spend of over $500 million.
The current data is based on Q2 2020 advertising spending. This data will be updated regularly.
Benchmarker collects data from a minimum of 20 unique brands in each industry, marketplace and ad format. It then averages these figures to give the industry standard metrics that you compare your own stats to.
Here’s an overview of the main types of data that you can analyze and what you can do with this.
Benchmarker can analyze all three of the main ad formats that you use in your PPC campaigns.
These are sponsored products, sponsored brands and sponsored display ads.
The tool will then give you a report on how your ads are performing against your competitors in each format. You’ll also get an overview of where your competitors are spending their advertising dollars in your category.
Here’s what this looks like in the demo account for the Sports and Outdoors category:
As you can see, most of the competitors in this category focus their ad spend on Sponsored Product ads.
For each ad format, Benchmarker will also give you an overall score for your campaign performance.
The ACoS score is how much each sale from an advertised product is costing you as a percentage.
So, if you spend $10 to make a $100 sale, your ACoS would be 10%.
Generally speaking, the lower the ACoS, the better.
But it’s hard to determine what a good average ACoS should be unless to compare it to your competitors. This is what Benchmarker allows you to do.
Here is the ACoS for the demo account:
As you can see, the demo account’s ACoS is below that of the industry average.
This means that this account is not achieving as many sales as it could or not maximizing its profit.
Here are some tips for improving the account’s ACoS:
Cost Per Click (CPC)
The CPC refers to how much you pay for each click on your sponsored ad.
In the demo account, the CPC is much higher than the industry average.
That means that this account is spending more than it should.
The best way to improve this is to lower your cost per click threshold or bid amount in your ad campaigns. You will probably want to do this in small increments until your CPC reaches the average benchmark. Spending more than you have to is just wasting your advertising dollar.
Read Also: AMZ Tracker vs Sellics Comparison
Click-Through Rate (CTR)
The CTR is the percentage of people who see your ad and then click on it.
In the demo account, the CTR is below the benchmark average.
This means that not enough people are clicking on your ads compared to others in your category.
To improve your score you have to analyze your ads themselves.
Are your images and descriptions the best they can be?
Or, are you targeting the wrong audience?
Conversion Rate (CVR)
The conversion rate is the percentage of people who actually buy your product after clicking on your ad.
In the demo account, the CVR is actually higher than the benchmark average.
This is a good thing because it means that you’re getting a higher return on your investment compared to others in your category.
Return On Ad Spend (ROAS)
The ROAS lets you know how much money you’re earning for every dollar that you spend.
The higher the score, the more profitable your campaigns are.
Here’s the result for the demo account again:
This indicates that this account is getting a higher return on investment compared to the category benchmark.
How Can Sellics Benchmarker Help You With Your Amazon PPC?
Being able to see what the industry standards are for each category of products is extremely useful.
With Benchmarker, you now have access to data that you can use to compare your own metrics to.
This will help you to streamline your campaigns. It means that you can eliminate spending more on advertising than you have to get the same results. It will also give you an idea if your ads are performing the best they can.
Once you compare your own KPIs against your competitors, you’ll have a good idea on where you can make improvements. This will allow you to get a higher return on your investment and make more sales.
How Is Sellics Able To Provide This Tool For Free?
The tool is currently in Beta mode. Sellics is looking for people to start using it and provide feedback.
This way they can improve the tool and make it perfect before its official release.
Plus, they’ll add all Beta users to a closed early access community.
How To Get Started?
It’s easy to get started by following these steps:
1. Visit the website here.
2. Click on “Get Early Access Now – Free!”.
3. Enter your details on the form and click “Next”.
4. On the next screen, click “Import Advertising Data”.
5. Sign into your Seller Central account in the pop-up window.
6. Click on “Allow” on the next screen.
7. Wait for your report to be processed.
That’s it. Now you just have to check your email for the report and start analyzing your advertising metrics.
Frequently Asked Questions
Why Is There An Early Access Program For The Sellics Benchmarker [Beta]?
Because the tool is still in Beta, by giving users early access, it will receive real-time testing from a variety of different users. This will ensure that the company is alerted to any issues. They can then keep working on the tool so that it performs seamlessly.
Who Can Access The Sellics Benchmarker?
I Am A Sellics customer – Can I Still Use It?
How Long Will Early Access: Sellics Benchmarker [Beta] Be Available For?
Benchmark is an ongoing project. The tool will be officially launched in 2021. There’s no set time-frame as to how long early access will be available for.
When Can I Expect To Receive My Report?
The report can take anywhere from 30 minutes to 4 hours to be processed and emailed to you.
The Sellics Benchmarker tool is the first of its kind on the market. It will help you to compare your current advertising metrics to those of your competitors.
It works with all 3 ad formats. Namely sponsored products, sponsored brands and sponsored display ads. It tracks the 4 major KPIs in your advertising account. These are ACoS, cost per click, click-through rate and conversion rate.
Because access to the tool is currently free, I would suggest you have nothing to lose by giving it a try.
Click here and try Sellics Benchmarker for FREE!