What if you could tap into a whole new pool of buyers on Amazon, customers who never knew you existed? In 2024, it's not just about reaching more people; it's about connecting with the right ones to boost your Amazon store's growth across all channels—organic and paid.
In this blog, discover how to unlock the full potential of reaching the right customers and maximizing your Amazon campaigns with Google Ads and Ampd. From advanced targeting strategies to optimizing for real results, we'll guide you through the essential steps that will set your Amazon store on the path to incremental growth and success this 2024.
Amazon Remains Top Retail Media Network
Amazon remains at the top of the online shopping world, with an impressive 74% of Americans viewing it as their go-to destination. This remarkable success has persisted for six years, firmly establishing Amazon as the preferred destination for online shoppers.
With 35% of marketers considering it a top trend and 32% planning to increase advertising there, ecommerce is experiencing significant growth. Powerful retail media networks like Amazon have become a valuable asset, providing access to a wealth of data and the highly sought-after checkout experience.
Amazon Brand Success: Driving Incremental Growth in 2024
Paying attention to incrementality is essential for brands striving for success in 2024. Incrementality, at its core, involves evaluating whether your advertising efforts genuinely contribute to increased sales and profits compared to scenarios without running ads. It's about more than just visibility; it's about ensuring that every advertising dollar translates into tangible, additional revenue for your Amazon store.
With retail media networks like Amazon strategically utilizing their data and influence over the checkout process, brands have a unique opportunity for incremental sales and margin boosts. By embracing incrementality, your brand can navigate the vast ecommerce terrain with precision, guaranteeing that your advertising investments translate into real, measurable success on the Amazon platform.
The key to unlocking this potential lies in understanding the brand perspective on incrementality. By focusing on attracting New-to-Brand (NTB) customers through targeted retail media campaigns, your brand can tap into this untapped market and drive incremental sales that wouldn't occur organically.
Here's how Amazon's strengths align with the brand perspective:
- Rich data: Amazon possesses a wealth of data on shopper behavior, purchase history, and demographics, allowing brands to segment audiences and tailor campaigns for maximum impact.
- Targeted advertising options: Sponsored products, display ads, and video ads enable brands to reach specific customer segments at various stages of the purchase journey, increasing the likelihood of attracting NTB customers.
- Seamless checkout experience: Amazon's streamlined checkout process removes friction and encourages purchases, making it easier for brands to convert new customers acquired through retail media campaigns.
By prioritizing incrementality and focusing on attracting NTB customers, your brand can effectively leverage Amazon's retail media network to:
- Expand your customer base: Reach beyond your existing customer pool and tap into Amazon's massive audience of potential buyers.
- Boost brand awareness: Increase brand visibility and recognition among new customers who might not have encountered your brand organically.
- Drive sustainable growth: Generate incremental sales and revenue that wouldn't occur through organic listings alone, leading to long-term success on the platform.
Advertising for Amazon 2024: Master the 3 Pillars of Incrementality
Staying ahead requires more than just conventional strategies. As we step into 2024, embracing the three pillars of incrementality is the key to unlocking unparalleled success for your brand.
1. Targeting Beyond the Obvious
a. Off Amazon Traffic: Think Outside the Amazon Box
Consider off-platform advertising, such as Google Ads, to drive high visibility and awareness to funnel new customers into your Amazon store.
b. Explore Contextual Targeting
Extend your reach beyond search by going into contextual targeting. Connect with relevant audiences in various parts of their Amazon journey, not just during the search phase.
By broadening your targeting horizons, you not only cast a wider net but also ensure that your products are reaching the most receptive audience.
2. Optimizing for True ROI
a. Move Beyond Clicks and Impressions
Shift your focus from traditional metrics to incremental sales data. Focus on metrics that matter – incremental sales, profit margins, return on ad spend (ROAS), Cost Per Acquisition (CPA), and Customer Lifetime Value (CLV). Understand the real impact of your campaigns on driving revenue and acquiring new customers.
b. Utilize A/B Testing and Campaign Experiments
Identify winning strategies through rigorous A/B testing. Continuously experiment with your campaigns to adapt to changing consumer behaviors.
Read Ampd's comprehensive A/B lift study and discover how 38 top brands experienced a staggering 31.5% average incremental lift in organic sales by combining Amazon Sponsored Paid Search with Google Ads Paid Search.
c. Employ Multi-Touch Attribution Models
Embrace attribution models that consider the entire customer journey. Recognize the cumulative effect of various touchpoints in influencing a purchase decision.
By optimizing for true ROI, you not only enhance the effectiveness of your campaigns but also ensure a sustainable growth trajectory.
3. Embracing New Tech & Trends
a. Tap into Amazon's Latest Targeting Features
Master Sponsored Display and Headline Search Ads to capture attention and drive conversions in new ways. Capitalize on the latest tools such as Amazon's latest AI feature to stay visible and relevant in a competitive landscape.
b. Partner up with Ampd
Join global brands and team up with Ampd. Gain a competitive edge by leveraging insights from Ampd’s advanced AI and Machine Learning that enables brands like yours to automate and maximize off-marketplace advertising strategies.
Boost Incremental Sales in 2024 with Google Ads and Ampd
Drive incremental organic sales, and higher brand awareness to grow your Amazon brand this 2024 with Google Ads and Ampd.
Sign up with Ampd and use intelligent automation with Amazon Attribution to find and convert customers on Google, creating a stream of incremental revenue for your Amazon store. Book a demo today!