Amazon’s advertising platform has a new, snazzy report available to advertisers called the “Search Term Impression Rank Report.” Only Sponsored Products and Sponsored Brands ads can use this feature at the moment.

Exactly what findings does the report contain? In other words, where can you buy it? What are its applications, if any, and how useful is it? If you have questions like these and more, keep reading for the solutions.Reporting, Sponsored Products reports, Sponsored Brand reports

Which Information Is Included in the Report?

Compared to earlier reports, this one includes not just Conversion Rate (CVR), Cost Per Click (CTR), and Click-Through-Rate (CTR), but also two new metrics:

  • Search Term Impression Rank
  • Search Term Impression Share

You may learn more about your marketing strategies and how they stack up against those of competitors in your industry thanks to these updated analytics. You can use them to find more popular queries where you have a chance to improve your market share (SoV). Amazon has also provided the normal analytics for tracking the success of your ads and identifying prime placements for increased visibility. To improve conversion rates, it is important to track KPIs and have a clear picture of how campaigns are doing.

Search Term Impression Share

To see where you stand in relation to other advertisers for specific search terms, check out your SoV’s Search Term Impression Rank. In the same way that a lower keyword ranking indicates a successful ad campaign, a higher ad ranking indicates a less successful campaign.

For instance, if your campaign has an Ad Rank of 2 for the term “adult diapers,” it has the second-highest SoV for that phrase compared to all other advertisers who have spent money on that term. If your ad is number one, it received the largest paid share of voice for that particular search term.

Where is the report available?

If you’re familiar with the Amazon Advertising platform, this should be easy. Here is a detailed walkthrough on how to obtain your Amazon Search Term Impression Rank reports:

  • Navigate to the Amazon Advertising console. On the first interphase, a horizontal list will be visible.
  • Then select Reports. You’ll see a menu with options.
  • From the drop-down option, select Advertising Reports.
  • Click Create report in the top left-hand corner of the Advertising Reports page to get started.
  • You’ll be taken to a different page by the website. You can select either Sponsored Brands or Sponsored Products here.
  • You may find search phrase impression rank just below report type and just above search items.

What Does Search Term Impression Share Mean?

The updated reports include new indicators that allow you to examine the efficacy of your advertising initiatives in greater depth. They provide in-depth data that sheds light on three factors that impact your ads:

  1. Estimated share of voice – How well do your campaigns produce impressions for particular search terms? Using the share of voice estimate, you may determine how well your advertising are doing among people in your target market.
  2. Competition – The number of persons vying to produce impressions for a given search query. The likelihood that your campaign will receive impressions from a certain keyword decreases as it becomes more competitive You might want to think about using search terms that are only somewhat competitive until you have a firm grasp of your niche.
  3. Estimated search volume – How many impressions may a given search term produce?

The answers to the first two queries provide insight into the likelihood of accomplishing marketing goals in light of current tactics and the strength of the competition. The third query is useful for advertising agencies since it reveals the possibilities of a search term. You can make better campaigns and track their progress with all of these tools.

How to Estimate the Search Volume

First, you’ll want to compile a report detailing the percentage of impressions that various search terms received. The total number of impressions received by all ads is tallied first.

While search keywords and ad impressions are displayed independently for each ad or group, the platform aggregates these statistics to determine the impression share for the entire account. Ad impressions for multiple campaigns or ad groups related to the same search phrase should be added together.

Keep in mind that the total number of ad impressions is not the same thing as the absolute search volume (the number of individuals who did searches relevant to the target phrase). However, the two names are not synonymous, despite popular belief. Reasons why:

  • An impression is counted once it has been seen by a user, and the total number of impressions is the sum of all the impressions made for all the advertisers.
  • Customers that browse through various product pages may be exposed to the same ad multiple times.
  • The final number of impressions will be determined by the level of engagement with the campaigns. For instance, the greater the number of advertisements that cater to a particular keyword, the greater the number of clicks and views that keyword will receive.

Despite their differences, there is a correlation between the two; by adding all the impressions from all of the ads, you can calculate the relative search volume. Just looking at the grand amount of impressions can give you a good idea of which keywords have the highest search volumes and are, therefore, the most promising for conversion. If the term “pink casino” gets 450 impressions and “blue casino” has 150, the former is more likely to be searched for than the latter.

Using the relative search volume, you may focus your marketing efforts on the most effective keywords. Through its use, you may determine which search terms have generated the most interest and clicks, and hence are the most likely to result in a sale. For this reason, you’ll only put money toward campaigns that have good ROI potential.

Estimating Your Market Share and How to Do It

The share of voice estimate demonstrates the efficacy of your adverts for particular search phrases, and is sometimes referred to informally as audience penetration. It shows how well-known your company is online and how well your adverts perform in comparison to those of competitors.

While these KPIs are important for all forms of marketing, including Sponsored Product advertisements, they are more important for Sponsored Brands ads in the middle and higher stages of the sales funnel, where the focus is on building brand recognition.

Through the use of impression share, you can determine the efficacy of various strategies for expanding your share of voice, such as buying more advertising or bidding up your current ones. However, it can be tricky at times to reach required impression shares due to the large number of placements on Amazon.

Finally, a comprehensive explanation of how to make the most of the new Amazon Search Term Impression Rank Report. Please share your thoughts on the report’s usefulness in the space provided below. But if you’re interested in learning more about advertising on Amazon, you can find that information on our blog.