Amazon Demand Side Platform is an incredibly powerful tool to successfully promote your product and increase your sales numbers. Simply put, it serves as a platform for business owners to purchase audio, video, and display ads. These are then placed on Amazon sites and those owned by Amazon partners. What makes Amazon DSP unique is its amazing targeting capabilities. By incorporating effective targeting practices, Amazon DSP allows you to maximize your product’s exposure while avoiding oversaturation, leading to a negative user experience.
Finding an Audience to Target
To use Amazon DSP, you need to familiarize yourself with its Audience Builder service. This allows you to determine which customers your products are marketed toward and is very customizable. By inputting certain criteria, such as keywords, page views, and purchase information, you can specify who you want to be included in your ad’s audience. You can add criteria to have people removed from your audience as well. What’s special about this service is that it allows you to use targeted ads in creative ways to promote your product more efficiently. Specifically, it allows you to employ the retargeting strategy.
How Does Retargeting Work?
Retargeting is a way to increase your sales by aiming your ads at users who have previously failed to make a purchase. These users are identified via their browsing data and then prompted to give the product in question a second look. For users who may be indecisive or committed to making their final purchase later, this is an incredibly effective strategy, preventing your product from being forgotten.
Additionally, you can build a retargeting audience around customers who have purchased your product already, and exclude that group from being targeted in your campaigns. After all, depending on the product, they likely won’t be looking to buy it again right away, so using your resources to show them your ad would be a waste. Users also respond negatively to repeatedly seeing ads for products they bought recently, making them less likely to seek out your product or brand going forward.
Due to the focus on people who have yet to make a purchase and the exclusion of those who already have and are unlikely to do so again soon, retargeting strategies are extremely successful, showing some of the highest return on advertising spend (ROAS) among promotional campaigns. As a business owner, every cent that goes in or out of your wallet is of great importance. A simple marketing mistake could lead to a great revenue loss because of wasted investments on ineffective ads and reduced sales. That’s why when developing your display marketing plan, retargeting should be an absolute priority.
Using Your Competitors to Your Advantage
When determining your audience through the Audience Builder on Amazon DSP, one of the variables you can input is a product’s ASIN or Amazon Standard Identification Number. This means that you can easily add in the ASIN of a competitor’s product into your marketing plan. As a result, the algorithm will target users who have viewed or purchased said product in the past. Including these users in retargeting gives you a chance to appeal to those interested in your type of product, but who have yet to commit. By showing them your product, you present yourself as an alternative to what they had previously found.
Whether you have specific competitors identified through previous research or choose to include ASIN’s of the top results for your chosen keywords on Amazon, this is a powerful strategy that can help you build a campaign off the audiences of others. Some consumers may immediately determine that your product is a better choice, granting you a sale that you otherwise might not have had. For others, seeing your products and brand each time they search for your competitor helps build brand recognition, making you appear more trustworthy and potentially resulting in additional sales down the line.