A couple of months ago, I sat down with a couple of dozen Bobsledders for a creative brainstorm. The topic: what’s standing in the way of our clients’ success on Amazon?
The resulting discussion was spirited. In such a dynamic space, our clients need to grapple with a pace of change that is so brisk that it's hard for practitioners to keep up, let alone the executives that are tasked with making strategic decisions inside a brand.
One recurring topic from the brainstorming sessions was around the optimal level of investment in Amazon as a sales channel. Our account managers and specialists have a strong conviction that many brands are under-investing in their Amazon channel. There was still so much potential for growth if only the brand could see the potential that we could see.
But like any other sales channel, being successful on Amazon requires investment. It requires advertising investment, great product content, and enticing visual assets. It requires precious time from both executive decision-makers and the Amazon point-person. The brands that ponied up the financial and people resources are the ones that are winning.
The Amazon Savviness Score
This reflection provided us with a core question to research: what factors reflect “Amazon maturity”, and how does Amazon maturity inform business results?
To answer the question, we scored and analyzed nearly 100 clients at Bobsled Marketing to determine their relative Amazon maturity. In analyzing what separates a mature Amazon channel from a less developed one, we identified some key attributes that are indicators of Amazon maturity.
With these insights in hand, we have developed a self-assessment called the Amazon Savviness Score - a tool that identifies your company’s relative Amazon maturity. At the end of the 10-question survey, you’re provided with your Amazon Savviness Score. This score can be used as a benchmark of where your brand is at right now, and to what extent there is room to grow.
The self-assessment takes 4 minutes to complete. The information collected in the survey is confidential and will be used only in aggregate for future research that will be shared with participants.
What’s next in our research pipeline
In January we will be releasing our comprehensive research into Amazon maturity. This research was based on an analysis of 100 clients at Bobsled Marketing, at various stages of maturity. We looked at the brands that were performing best to uncover what are the common drivers of their success. For example, we found that factors like executive engagement, the types of KPIs that are tracked, and Amazon’s place in the company’s supply chain are indicative of Amazon maturity.
We’ll be hosting a webinar on January 27 (and an earlier session for current Bobsled clients)
where the full research will be unveiled for the first time. The research report will be shared after the webinar. Make sure you sign up for our newsletter to be notified of these events!
Future research (including findings from the Amazon Savviness Score self-assessment scale) will be designed to answer an even more complex question, “What percentage of your sales should come from Amazon?”
Constraints are a natural factor in any business. Smaller, emerging brands often have a capital or cash flow constraint. Large enterprise brands may have constraints around the speed of decision-making. But there is common ground in the success factors for Amazon, regardless of the company’s size. Take the Amazon Savviness Score Self-Assessment.
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Tagged: Amazon Account Management