Are you following our CEO Andrew Banks on LinkedIn? If not, here’s one golden Amazon nugget shared recently, with a key tip to put brands in better charge of their own marketplace destiny…
If you were asked to name your most critical metrics to measure when plotting your brand’s future Amazon success, would market share be high in the list?
We hope so – because in our expert opinion? It’s overlooked far too often.
Yes, of course, brands should look to turnover and profit levels – and then, depending on your own unique business model, there might be any number of more granular statistics you need to help regularly refine and perfect your strategy.
But market share deserves far higher billing than it often gets.
We spoke to a brand this month who is delighted with their current Amazon success.
Turnover and profits are up, and there’s visible growth…
… to some extent.
But their market share is down nearly 50%.
And they don’t know exactly why they’re growing.
The truth is that their category is growing around them, and they’re benefitting from that.
They’re not driving their own growth – it’s not coming from their own strategy.
They’re not the masters of their own marketplace destiny.
The question is, how much better could they be doing if they were in control?
Where could they get to if they knew the context of their growth and built a strategy around taking more market share in this expanding category?
With our help, they’ll find out very soon!
If you’d like to join them, get a fresh perspective on your own market share prospects and potential by speaking to our expert team today.
And for more nuggets of Amazon wisdom? Follow Andrew on LinkedIn here.