Digital marketing has opened the door to data driven marketing and has empowered marketers to create plans and leverage tactics that are getting more and more sophisticated. Helping advertisers target the most valuable audience at the right time across multiple touch points throughout their purchasing journey. This data rich environment has more importantly and for the first-time given advertisers bragging rights by being able to directly attribute sales!
Understanding the enormous value of this, Amazon has led the way amongst major retailers by creating a self serve advertising platform where advertisers can get their products in front of their most valuable customers. Amazon’s ads business is booming, and a growing number of advertisers are spending more of their ad dollars on this platform. Speaking to the growth of this platform, agencies have witnessed an increase in overall cost-per-click for sponsored products year on year. This has created a win-win situation for the ecommerce mammoth! Advertisers are not only benefiting from positive ROI and increase in sales, but Amazon is also seeing an increased investment of time and ad budget from brand owners who are optimizing their Amazon store front and spending more money to send traffic to it.
Which leads me to their latest beta release – Amazon Attribution!
Now and for the first time a major retailer is allowing their advertisers to get on demand access to shopping and sales impact data across all touch points. Which means, now you can measure the impact of all your digital media channels and optimize towards increasing ROI. Advertisers are now able to measure and leverage unique shopping metrics that include page views, add to cart, purchases and sales. This will give advertisers a complete view of which advertising tactics and audience are most valuable to them.
As demand for the Amazon self-serve platform has been increasing and with the rollout of Amazon Attribution, I expect advertisers will be further incentivised to invest more of their time and media spend to push more traffic to this platform.
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