Introducing you to some of the best tips and strategies that you may need to know and use to maximize your brand’s advertising ROI on Amazon. For expert help, contact us!
Amazon is an ever-evolving e-commerce platform introducing sellers to new advertising capabilities now and then. As an Amazon seller, there’s no doubt that you will have to stay up to date with recently launched features, formats, and campaign types and re-assess and optimize your Amazon advertising strategy in 2022.
1. Think Deeply about Your Goals
As a seller, you follow success through strategies. Having a goal of ‘increased sales’ may not be enough. There are many more strategic efforts to integrate at the product, group, or brand level. An advertising strategy cannot function as a one-size-fits-all and be habituated to dynamism when introducing quick modifications to impact campaign performance ultimately.
When deciding your goals, you should focus on which stage you are in the sales funnel(Awareness, Interest, Decision, and Action) and set your ad goals accordingly. For example, you will first want to create awareness for your newly launched brand and switch to sales-oriented ad campaigns. Then you will be moving forward to launching Sponsored Product, Brand, and Display ads to tap customers throughout the entire funnel. You would also want to create defensive campaigns for brand protection purposes.
Some strategic approaches you can take:
- Be ranking on the top for a specific keyword
- Promote the bestselling item for your new product line
- Sell out a product
- Capture solid market share over a competitor
- Become a market leader in a product line
2. Create a Robust Structure for your Campaigns
A solid campaign structure is not one stuffed with poorly-performing keywords but enriched with high-performing keywords.
How does it help?
- Enables you to use New Auto Campaigns: Auto campaigns allow Amazon to generate keywords that you can refine more with focused manual campaigns, a process known as search term optimization.
- Use Search Term Harvesting to better match ad campaigns to your buyer’s intent.
- Optimize ASIN Discoverability to check whether your keywords and bids are providing your products the visibility they need.
- Utilize Negative Keywords to control unnecessary spending and boost product rankings.
3. Monitor Targeting
When an Amazon advertising campaign or ad targeting is considered, a range of strategies is there to explore: Category Targeting, Brand Targeting, and ASIN Targeting.
The Category Targeting feature allows you to target your product categories on the platform. This is ideal for generic products that do not have particular keywords to optimize for and for new products that are not being searched for. It was extremely challenging to sell items on Amazon that did not have a high-volume keyword search. The new product targeting features are already changing this scenario.
Amazon Brand Targeting helps you target high-traffic brands. This targeting helps identify your competitors who are spending big on Sponsored Brands and attracting good traffic through these ads. You can then target competitor brands using the ‘further category’ refinements.
ASIN Targeting allows you to select specific products, categories, and brands that are similar to the product in your ad. It is used when your product is comparable to another but cheaper. With ASIN-targeted campaigns, two strategies come into play to select which ASINs to target: 1) those that are similar to your product and 2) those that are complementary.
4. Strike a Balance for Spending
A defensive strategy could look like you spending on your branded search terms to deter competitors from targeting your listing. A good offensive strategy could be targeting your competitor’s brand. A good balance for spending on these strategies could be to allocate around 40% of the budget to defense where you target keywords directly related to your brand and about 40% to keywords you would like to own, including those of competing brands. The rest 20% can then be reserved for harvesting or testing.
Learning and accommodating new advertising strategies should be your consistent focus as an Amazon seller. Our team of Amazon PPC experts can look at your advertising account and share insights on the immediate and gradual area of evaluation.