According to Marketplace Pulse, some brands believe increasing advertising on Amazon, and other shopping platforms is a detriment to the consumer experience as product search has little room left for the most relevant, organic results and cost-per-click (CPC) on Amazon is perpetually rising, forcing brands to increase product prices or reduce profits.
Last year Amazon helped brands advertising on its marketplace. Hundreds of brands utilized Amazon Attribution which was launched in beta in 2018. This feature has been updated to maximize your return on investment and increase product sales.
Amazon says that this was the first time that you could accurately measure the impact of search, social, display, email, and video media channels based on consumer interaction through product research, discovery, and products purchased on the platform. The company felt that with the number of consumers devoting time and effort towards product research and review, optimizing this point of the process was critical to achieving campaign success.
With this console, brands have access to cross-channel attribution to better understand the performance of their full digital media portfolio. Amazon highlighted that the best part of this feature was that sales attribution and return on investment (ROI) measurement no longer needed to come in the form of a post-campaign report. With Amazon Attribution, on-demand access is enabled to conversion reporting. With this real-time analysis, brands have the opportunity to optimize their campaigns, maximize ROI and limit wasteful impressions.
Advertising on Amazon enables brands to launch and shoppers to discover new products. Amazon advertising is growing beyond performance marketing in the form of sponsored products. Marketplace Pulse explains that Amazon is going after ad budgets under CMOs, looking for a more holistic advertising strategy and not just bottom-of-the-funnel ads where a click leads to a sale. To serve those, Amazon continues to invest in retargeting, metrics such as “new to the brand,” attribution on non-Amazon channels, video ads, branded store pages, Instagram-like posts, Kindle, and Fire TV ads, and packaging.
That wraps up our deep dive into the 2019 Year in Review with Marketplace Pulse. We hope that this series of posts was insightful. If you have any additional questions leave a comment below, we’ll be there, we’ll respond, and we will help you through the process. If you found this post to be helpful, please like, share, comment, and tell other people about it.
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