This is a terrific question and not necessarily as complicated as you might think. It requires some logic and inference.
First, begin with understanding what the goal is. On Amazon, the goal is sales. We want to sell as many of our products as possible. If you’re in Amazon Associates, then your goal is selling other peoples’ stuff. If you’re in KDP or Webstores, it’s selling your own products. For example, all of my books are sold both on my website and on Amazon.
Once you know what the overall sales goal is, you have to get your sales data from Amazon. Let’s use Marketing White Belt as an example. In the last 90 days, I’ve sold approximately $60 of Marketing White Belt on Amazon. So far, so good. I know what my traffic to Amazon is worth.
The next question is, how much traffic have I sent to Amazon? Using Google Analytics event tracking, I can track how many times people click on my Marketing White Belt book ads on my website:
89 clicks. Thus, I can make the starting inference that my value per click is $60/89, or 67 cents per click on my Marketing White Belt ads. Thus, I can set a goal value in my Google Analytics admin that any time I get an outbound click on my Marketing White Belt book, call it 67 cents of revenue.
Obviously, this isn’t exact. People can buy the book from Amazon without ever having been to my site. Thus, it’s important to rebalance. I’d run this analysis every 30 days and recompute the value of a click from my website to Amazon. Over time, I’d get enough data to create a reasonable average, and then use a rolling average to settle in on a value per click.
To Michael’s question, what about Amazon affiliates, where you’re sending clicks to other people’s stuff? Again, the same general logic applies. You know how much money you earn from Amazon each month, from the Associates reports. You should know, using Google Analytics, how many clicks you’re sending to Amazon. Work out what a value per click is, and you’ve got the beginnings of decent estimation.
Get as granular as you can, too. If you’re an Associate focusing on several different verticals, consider setting up event tracking categories. You might have one tracking event for electronics, another for books, etc. and then from your Associates reports, break out the fees you earned in each category. Now you can set up goal conversions per category.
Good luck tracking! Be sure to read up on Google Analytics Event Tracking.
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