Marketing
14 November 2022
Amazon advertising strategies for 2023
Brand awareness, margins and keywords are key to making the most of a marketing budget, writes SalesDuo CEO Arjun Narayan.
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A great approach to starting a business and earning money is by selling goods online, and Amazon is the best place to sell if you're going to do it anywhere. Fortunately, the Amazon market is vast and expanding rapidly as more and more people switch to online buying for virtually every kind of product.
It takes more than just doing what everyone else is doing and addressing the essentials to get exceptional results with Amazon. Following these tactics will place your brand in the best possible position for success. You’ll also improve brand recognition, generate more advertising revenue, and cut your Amazon advertising expenses. This will help you make the most out of your marketing budget.
Improve brand awareness
Amazon is the world's leading retailer and has quietly risen to the top of the list of websites used for advertising. Why is this such a fantastic chance for sellers? The advertising for Sponsored Brands on Amazon is primarily responsible.
Sponsored Brands advertisements appear on the search results page of an Amazon product search in the first column of the header. As a result, sponsored advertisements have a huge impact.
Regardless of whether or not customers had looked for the intended goods, this prominent placement of this ad type has demonstrated a sales conversion rate of 18% for products put on the search results page. Combined with keyword phrases and exact-match keywords that showcase your product, these ads are excellent for boosting top-of-the-funnel brand awareness and product reach.
Examine product profitability
Understanding your Amazon products' margins may seem silly, but it is crucial in structuring your Amazon advertising efforts.
You can examine the unique selling data points for each SKU. Assessing whether your profit margins are sufficient to invest more money in advertising for that specific product using the data, which ranges from cost to promotion to manufacturing and selling costs.
Before you consider investing more in paid advertising, determine which items have the highest profit margin. The last thing you want to do is spend money on advertisements for an unprofitable product. By eliminating underperforming goods and allocating resources to more profitable ones, you can change your product lineup with the aid of this analysis.
Utilize Amazon Sponsored Display Ads
The self-serve display advertising option Amazon offers is Amazon Sponsored Display Ads (formerly known as Amazon Product Display Ads). With the help of the Amazon Brand Registry, marketers may use this advertising technique to target and retarget customers both on and outside of Amazon with automatically created, product-focused ads.
Sponsored Display Ads, Sponsored Product Ads, and Sponsored Brand Ads have different target audiences, but Sponsored Display Ads are the most specific. Sponsored Display Ads target customers according to their buying preferences rather than using keywords. Amazon Sponsored Display Ads make use of simple, retail-focused controls that are adapted to the specifications of your brand and product.
While customers are perusing individual detail pages, Amazon's homepage and other third-party apps and websites, an Amazon display ad can help draw them in. According to Amazon, vendors who utilized Sponsored Display Ads had an average of two times as many impressions and one-half as many clicks on their listings.
Focus on keyword relevancy and reanalyzing keywords
Although you might have done keyword research when you first put up your product detail page, purchasing habits can now be different. Researching keywords is something you should do regularly, and you should make sure the terms are used throughout the product detail page. The title, description, and bullet points are crucial aspects of this.
This is more than just cramming your article with keywords. You still need to write to convert readers into customers. The algorithm may rank your product, but it is not purchased by it. Consumers are the ones who read and decide whether to buy. They need to be persuaded by your copy that your product is the best option.
Just like you, Amazon wants more sales and satisfied consumers. Although it can seem like it at times, it's not you versus Amazon. It's you vs. the alternatives on Amazon that a customer might pick over yours. Keep your strategy's emphasis on conversion and awareness. If you use the appropriate approach, Amazon should give you better rankings.
Arjun Narayan is the founder and CEO of SalesDuo, a full-service Amazon agency.
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Jun 09, 2023
Retail Media
07 June 2023
Walmart Connect introduces in-store retail media placements
New advertising opportunities are being beta tested for in-store audio and product demos.
Photo by Marques Thomas on Unsplash
Retail media’s fast growth isn’t only limited to increasing spend. The advertising itself is also poised to appear in more places beyond ecommerce marketplaces, and even beyond the web.
The latest example comes from Walmart Connect, which is the retail media arm of the world’s largest retailer.
Walmart shared details on testing that it is completing for in-store retail media. To this point, Walmart Connect has been considered the advertising platform for Walmart’s ecommerce site. But these tests indicate that’s poised to expand.
Stores present a potent opportunity for Walmart. It has 4,700 big box locations around the U.S., and customers returned to them in droves last year. In 2022, 88% of the retailer’s customers visited Walmart stores.
Walmart Connect already has already dipped a toe into in-store advertising, with a TV wall, self-checkout ads and integrated marketing. The new pilots aim to take a step further.
“The next frontier of retail media is in-store experiences, and it’s one we’re excited to chart,” Whitney Cooper, head of omnichannel transformation at Walmart Connect, wrote in a blog post on the new tests. “But it’s still an emerging opportunity for us, as we continue to test what serves customers best and which solutions are scalable to Walmart’s size.”
Here’s a look at the two new offerings currently under beta test:
In-store demos
Walmart suppliers will be able to integrate product demos into campaigns across in-store and digital environments.
Product demos aren’t new to store floors, but Walmart Connect is seeking to give them an update that blends digital and physical experiences.
“Part of our test is how to enhance the omnichannel experience by bridging the physical back to digital: For example, by pairing a demo cart with QR codes that link back to a curated Walmart.com landing page so customers can find inspiration and shop their list all in one spot,” Cooper wrote.
Walmart is currently offering 120 demos at stores each weekend, and plans to scale to 1,000 by the end of 2023.
In-store audio
Walmart Connect will now offer advertising placements on Walmart’s in-store radio network. Suppliers will have the option to purchase ads by region or store, enabling targeting of key markets.
“This is the first time brands will be able to speak directly to Walmart customers through this medium,” Cooper writes. “These ads also create a new upper-funnel touchpoint for brand marketers and out-of-home (OOH) buyers to create awareness, because in-store audio is about connecting with customers wherever they are in the store — they don’t have to pass the brand in the aisle.”
With the tests, we’ll be watching for how this advertising is measured, and whether Walmart Connect is tracking impact across different types of formats, and not just a single campaign.
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