Amazon’s Sponsored Products ads are one of the fastest growing ad types in the industry. Marketers who’ve eagerly joined the party may wonder: how do I maximize results and continue to scale?
As Amazon adds to its native optimization features and evolves its offering, marketers can leverage Marin’s patented automated bidding algorithm on Amazon Sponsored Products and Sponsored Brands. Here are just a few ways how.
Marin’s Foldering Structure
Marin’s foldering structure is independent of the Amazon campaign hierarchy. Marketers can implement the structure to combine ad groups with similar business targets or characteristics.
What does this mean? Well, if you’re new to advertising on Amazon, you can borrow data from your history-rich Google and Bing keywords to inform your Amazon bids and ramp up quickly without a learning or “burn-in” period. Alternatively, you can group Amazon keywords into their own folders as a divider for business targets or performance.
Both of these options are available for all business needs with Marin’s flexible foldering structure.
Flexible Bid Modifiers and Rules
You can apply flexible bid modifiers and rules on top of Marin’s automated bidding algorithm to accommodate your business needs—whether those needs are seasonal or unexpected. For example, you may need to exclude an outlier like a big Amazon sale date when conversions are extraordinarily high. Or, you can apply a bid boost to help ramp up spend if you’re under-pacing against your allocated Amazon budget.
You can and should combine rules to react to market changes—such as a competitor’s sale or unexpected, negative press—or to help spend ramp up or down.
Combine these Marin “time of calculation” modifiers with Amazon’s “time of auction” modifiers for a strategy that combines the best of both worlds. And, be sure to implement bid caps, floors, and/or maximum bid changes by percentage to ensure you have safety nets in place.
You can bid towards various goals and layer in ACoS with contextual signals. You can also optimize towards Cost Per Lead, layer in profit margin goals, or bid towards a portfolio target. You can even optimize towards custom blends of goals with what’s important to your business and assign percentage or flat value weights to certain conversions or Share of Voice.
Marin’s Amazon optimization tools allow you to forecast predicted spend and various budgeting scenarios on performance. Use Marin’s forecasting tool to predict future trends of Amazon clicks, conversions, revenue, cost, and profit. Make better-informed decisions by anticipating spend levels at daily, monthly, or quarterly levels, visualizing the effects in real-time of reducing or increasing Amazon budget to forecast incremental gross profit returns.
The Sky’s the Limit with Amazon Advertising
As marketers on Amazon continue to ramp up sales velocity and make use of rich customer data, the next step is diving deeper into your ad campaigns and automatically making adjustments based on real-time performance. To learn more about Marin's optimization tools for Amazon, get in touch with your account representative. Or, if you're new to Marin, contact us for a brief demo.