Are you there yet with your Amazon strategy?
In the age of Amazon, 2018 saw a significant increase in ad spend directed towards Amazon’s advertising platform. Ad spend on Sponsored Products grew 62% while Sponsored Brands grew 86%* in Q3 alone. Amazon’s rapidly growing advertising platform has enormous potential, although, like most new tech, is experiencing some growing pains.
The platform is constantly evolving, yet there are still a few missing features. For example, historical data is only available for the last 60 days, customized data reports are not offered, and certain parameters, including day parting, are absent from the platform’s features. The root of these missing parts stems a lack of customization and the platform’s overall newness.
To elevate your Amazon strategy, there is a solution that makes advertising on the platform easier to navigate: identify the best external media management platform to better execute your strategy.
The impact of limitations
Clients often struggle when interacting with Amazon’s interface, which alters their overall platform experience. In search of better targeting, advertisers are looking elsewhere to gain data and parameter customizations on more flexible platforms. Numerous external ad management platforms have stepped in, creating native Amazon integrations into their platforms. This move helps brands easily manage their campaigns and avoid directly dealing with Amazon’s platform.
Managing your Amazon campaigns smarter
The first step towards more strategic campaign management is leveraging external platforms which fill in the existing gaps of the Amazon interface. For example, other platforms can use API connections and tracking tools to provide accurate revenue measurement per product and ensure you have proper historical data saved. By the same token, if you want to amp up your game and become a top advertiser on Amazon, there is another way to increase your campaigns’ impact: combine it with TV.
How TV fits with your Amazon campaigns?
As media budgets shift towards Amazon with 80% of Amazon advertisers planning to increase budgets in 2019,2 brands will have to find ways to differentiate themselves. One way to do this is by syncing TV ads with their Amazon campaigns.
For example, imagine you see the latest game system in a TV commercial, and immediately after the TV ad airs, you decide to search for it on Amazon. You find that the game system is at the top of the search results. In a nutshell, syncing is when a TV spot is detected and the brand’s digital campaign is activated in real-time when a consumer is more likely to act. This strategy allows brands to maximize the impact of their media spend and reach their audience in a time when higher return matters.
The benefit of coupling TV and Amazon is noteworthy. 85%3 of US Internet users surfed the web while watching TV in 2017. It allows brands to optimize their advertising investment and achieve targets through accurate campaign measurement and recommendations. Recently, we documented in Philips’ & Ecselis’ award winning Amazon campaign a 40% lift in CTR and 25% lift in ROAS as well as a 21% drop in CPC.
Media’s newest power couple: TV & Amazon
With current projections predicting huge growth in advertising revenue for Amazon over the next few years, 2019 will be another important year in the age of Amazon. This means that many brands will be advertising on the same platform, vying for the same position, and seeking the edge to differentiate themselves. Here is some food for thought for the year ahead.
How will brands manage their Amazon campaigns? Top tier brands will manage their campaigns in one of two fashions. Starting at level one, brands will continue to use external advertising platforms to manage their Amazon campaigns, retrieving sales and revenue data. Moving up to level two, brands will re-energize their strategy by syncing TV and Amazon.
How will brands stand out in the crowd? Brands will elevate their strategy with the addition of TV to reinvigorate existing and launch new Amazon campaigns. Day part targeting will be a unique part of this tactic, ensuring efficient ad spend to magnify the impact of daily budgets.
TV is a strategic approach that brands could use to draw attention to themselves. When combined with Amazon, TV has huge potential to give brands that extra punch, positioning their products and maximizing media spend budgets. Now is the time to scale your media to the right place, optimizing ad spend and achieving targets to justify increased future Amazon investments.
1 Merkle’s Q3 2018 Digital Marketing Report
2 “80% of Amazon advertisers plan to increase budgets in 2019,” Ginny Marvin, marketingland.com
3 Google, 2017
Website - https://tvty.tv/
Industry Insights features highly accessible and practical content from experts in the marketing services sector providing you with tools and resources to improve your business performance. If you would like to submit a report to the section contact firstname.lastname@example.org