One of the largest online retailers of musical instruments and equipment in the United States saw a drop in their click-through rates and conversion rate for products priced under $300. They wanted to get deeper visibility into their competitors to better understand who they are losing out to on the under $300 products
GrowByData’s professional services team provided a customized holistic dashboard that allowed the account team to see that on average Amazon’s prices were 30% lower than that of the musical instrument retailer for the below <$300 products. The data also shows that almost 50% of Amazon’s products were in the 0-$100 price range whereas our client had 31% in the same price range. Diving deeper into the price and ad rank of products under $300, we found that our client’s products had a declining trend of both ad rank and price rank on mobile devices but had a slight upward trend on desktop devices. Since over 60% of the impressions are coming from mobile devices, this will have a bigger impact on the clicks and conversion.
We also found that competitors like American Musical had a sale on 12.5% of their products versus 7% of our client’s products. And Amazon had free shipping on 50% of their products, while our client only had free shipping on 9.5% of products. These annotations and labels can have an impact on conversions.
Our in-depth analysis & insights into the pricing and ad landscape allowed the account team to better understand their client’s performance on the SERP, optimize features and contents, and build marketing and pricing strategies that improve visibility, CTR, and conversions.
