Why I Believe in Market Share 2.0 - Streamlined. Intuitive. Actionable.
I love data, I always have. I remember my first major experience with data from very early on in my career, an experience that confirmed my belief in data. I was working as a buyer for a major retailer where I took over a category that was simultaneously making tens of millions of dollars a year, but also losing over ten million a year. I knew I had to address this leak in my profits, and so I started building out a data set by compiling data from multiple areas. It took me a lot of time and it was definitely hard to do, but the pay-off was great.
From this data set that I had painstakingly compiled, we found that we had way too much overhead, our prices were out of whack and our assortment didn’t match our clientele. My hours of compiling raw data not only enabled our team to understand the core issues in our business, it also guided our actions, which ultimately led to a profitable business just 1-year later.
Data was the key to our success. Data brought insight, power, and direction. As we move more into an algorithm-driven, ecommerce market, the need for that insight, power and direction from data has only intensified.
Introducing Market Share 2.0
At Edge by Ascential, we understand to bring those benefits data needs to be easily understood, easy to access and above all accurate, which is why we are so excited to introduce Market Share 2.0 to our customers, launching April 2, 2020.
Market Share 2.0 is a completely redesigned interface focused on helping you understand your Amazon business in an easier and more accessible way. It has been designed with you, our clients, in mind to be streamlined, intuitive, and actionable.
Easy to Understand
Market Share 2.0 is broken out into 3 main sections, designed to quickly help you take action on your business.
- My Business showcases your own sales, share, traffic and conversion on Amazon. You can use this section to quickly identify how your products are trending and compare metrics for easy cause and effect analysis. Additionally, you can use the Top Movers and Top Performers to help you easily identify what items are causing the spikes or dips in your performance.
- The Market View section highlights your sales and share versus that of your competition, both 1p and 3p, down to the ASIN-level. This section includes Competitive Top Movers and Top Performers for a quick view into what is trending in your category and how you compare.
- Scorecard is a unique view into the various areas you may need to focus on in order to drive your Amazon business forward including pricing, ratings and reviews, promos and much more.
Easy to Access
We know that in order for your business to make use of our data it had to be easy to access. I can safely promise that with Market Share 2.0, the Amazon sales and share data that our clients rely on will be easier to access than ever before. The most notable improvements you can look forward to:
- Faster Report Load Times: Data portals need to be fast and responsive, that is SaaS 101. In Market Share 2.0, speed has been a significant emphasis for our team and we are excited to say that we have cut load times by almost 10x for the launch, and by Q3 we expect to get load times to under 5 seconds.
- Reports Sent Directly to Your Inbox: Our new portal allows you to subscribe to the reports that you like the best for you or your team. Use this new option to schedule and automate reoccurring emailed reports for anyone within your organization, in whichever format works best for you: csv, excel or PDF.
- Ad Hoc Reporting and APIs: In Market Share 2.0, you are in control of how the data surfaces in our new Ad Hoc Tool. Choose the times, metrics and aggregations that you want to download, and this will also create an API based off of those settings to ingest the metrics you want into your system.
Accuracy & Reliability
At Edge by Ascential, we have been proud to offer one of the most accurate and reliable solutions for Amazon sales and share data and insights in the marketplace. We have a large catalog with broad category coverage, which powers the accuracy our clients rely upon. The launch of 2.0 continues to drive our accuracy forward by:
- Capturing Changes in Vendor Central Faster: Market Share 2.0 will capture Vendor Central data more frequently, which will allow us to ensure we are in lockstep with what Amazon reports, even if they restate their data.
- New Item Sales: If an item enters your catalog, that we have been tracking elsewhere, we can now backfill the data for that item to provide the most accurate view of your sales and share.