Advertising on Amazon is an effective way to advertise and show off your products. Whether you're selling using Amazon FBA or FBM, this video will tell you the 5 pillars of a successful Amazon advertising strategy so you can advertise effectively on Amazon.
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If you're looking to start a business selling products on Amazon, then you'll need to know and understand the product listing criteria and how to rank on Amazon FBA. Yes, you can start making money selling on Amazon, regardless of your experience selling online.
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The best part about selling on Amazon is that the retail giant does all the work for you. You'll never have to pick or pack or ship a product, ever. Gone are the days of dealing with fulfillment or customer service requests. Amazon does it all for you. All you do is collect the income.
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The 5 Pillars Of A Successful Amazon Advertising Strategy - Audio file
Hey guys and welcome back to my channel. In this video I would like to go over the 5 pillars of a successful advertising strategy, so be sure to watch all the way through so you don't miss any of the important details as we do have a lot to cover.
Now, before I hop into this video, if you are new to this channel you're going to want to subscribe as I talk about the best ways to make a full time income with Amazon FBA and always get straight to the point.
So please consider subscribing and turning on your post notifications if you like channels that don’t waste your valuable time, with that said let's get right into this video.
Now, Amazon should be a part of your e-commerce marketing strategy. With more brands turning to Amazon to sell their products, clearly, the retail giant has become one of the best ways ways to acquire a new audience. Experimenting with different brand-specific opportunities and trying different ad types and targeting options is a must.
As the marketplace is growing more and more competitive, the need to use an advertising strategy to connect with your customers is essential. The wrong approach would often cost you time, effort and money. To avoid such consequences and get the right approach, I came up with five core components of an effective Amazon advertising strategy.
So let’s dive right in and start with pillar number one which is to set clear business goals. You must have clarity on your business goals. Most advertisers or agencies talk about increasing sales. However, you need to look into the fundamental aspects before you create campaigns.
Ask yourself these questions. What stage is your product in? Are you looking to increase your market share? Do you want to clear underperforming stock? Are you looking to grow long-term profitability? Or do you want to reach new customers or turn existing ones into a loyal customer base?
You need to align your business goals with your campaign objectives, so you can make the most of your ad spend. Asking the right questions will help you focus on diversifying your campaign objectives.
For example, during a new product launch you want to build sales momentum. On the other hand, if you want to increase your market share, you will need to target competitors’ listings. Gaining clarity on your goals may take a while, but you will be saving money, time, and effort in the long run.
The second important pillar in your advertising strategy is to understand the buyer’s journey. In marketing, timing is everything Engaging your buyers with ads and messaging at the right time in their buying journey is the key to landing a sale.
So why do you need to understand their buying journey? Well, by understanding the customer’s journey, you will create opportunities to interact with them at every step of their journey. This will increase your chances to convert them and create room to build brand awareness and trust.
As an advertiser on Amazon, you should ask the following questions to create a customer-centric marketing strategy. What are the ways that customers can learn about your product? Are they aware of the problem? What touchpoints are involved when they are buying your product or a similar one? And what happens after the sale?
Asking questions like these would allow you to answer the most important amazon advertising questions that you cannot otherwise answer like:
What kind of sponsored ads should you use? What ad targeting type should you use? How to craft the right brand message What is the most critical metric you should consider for a specific campaign? And can I maximize new-to-brand metrics?
Basically, it helps to convert your ‘Plug and Pray’ approach to a ‘Plug and Play’ approach. If you’re an advertiser on Amazon, I know you can relate to what I am saying. You need to understand your buyers, form a strategy, influence them and sell the result.
Now, let’s move on to pillar number 3 which is, what are the right advertising options for you. Amazon offers comprehensive advertising solutions and targeting options for everyone.
Sponsored products, Sponsored brands, Sponsored display ads. All these three play a unique role in optimizing your ad spend. However, you should pick the right advertising choice based on your funnel and optimize your advertising campaigns.
First we have sponsored products. These ads appear in search results within the listings, and allow you to drive keyword and product-specific campaigns. They can be used for growing sales, boost rankings and more.
The second type of ads are sponsored brand ads. These ads are great if you want to increase your brand presence, engage customers with your brand story, and are also valuable if you want to target generic search terms.
Now, the third type of ads are sponsored display ads. These ads are great if you want to retarget or remarket your product and or reach new audiences. This advertising type is more of a programmatic solution that allows you to target customers based on their shopping behavior.
Now, let’s talk about why you need to refine your targeting. The more you refine targeting, the better your ads work. When your ads appear in the right places, your return on investment improves significantly. Within each ad type, you will have different targeting types.
For instance, automatic campaigns are good to harvest potential keywords, and manual campaigns are essential if you want to control your ad spend.
When you create a sponsored brand ad, you need to include category-level search terms and branded search terms to generate awareness among the target audience.
Now, before we move on to pillar number 4. As you can see, there are a lot of steps involved in building an Amazon business. And I wouldn't recommend piecing together everything that I am sharing with you today by simply watching videos on YouTube. This is why I suggest investing your time in a great free training that can guide you through this process.
I recommend this training because this is the best training on the market and one that I have personally gone through. They walk you through every aspect of what it takes to start, grow and scale your Amazon business.
This training will build off of what I talk about inside my videos so I left a link for you in the description and if you're serious about selling on Amazon I encourage you to check it out!
Now, let’s move on to pillar number 4 which is profitability. Lowering your advertising cost isn’t always the right way to increase overall profitability. Ideally, your campaigns are profitable if the profit you generate is higher than the ad spend. So you should know your break-even cost to ensure your ads are profitable.
You should also know that not all revenue is created equal. Often, it is cheaper and easier to retain existing customers than to bring new ones. So if you want to increase the customer lifetime value of a specific product, you can change the breakeven point accordingly. You can therefore, increase your ad spend and still create long-term profits.
Pillar number 5 in you advertising strategy is what I call the advertising flywheel. Building momentum and running on autopilot. This is the advertising flywheel. You see, your sales velocity strongly influences your ranking on Amazon. Which means simply put, more sales means better rankings.
And higher rankings combined with good customer service results in better product visibility, which increases your sales. If you want to accelerate your growth and profitability on Amazon, you need to introduce Amazon advertising in to the mix.
By using ads, you will be able to target more keywords, rank higher and grow sales. This momentum will in turn, increase your overall profitability.
Keep in mind that advertising is not about winning bids and sales but should be a part of your overall strategy. Use it as a way to achieve your long-term business goals.
The sales momentum you generate using Amazon ads will help you get data. Having data will give you better insights into customer behavior, and help you make better business decisions.
Now, all this might be a lot to take in. If you are a seller with a huge portfolio, all these tasks can consume a lot of time, and scaling your Amazon business would become next to impossible if you are not acting on time.
So you can also consider outsourcing your advertising efforts to an agency that can help you achieve your long-term and short-term business goals much faster. But how do you decide which advertising agency is the right one for you? Before you actually pick an advertising agency, see if they use all three advertising types to scale ad campaigns.
What kind of strategies do they employ to segregate the campaigns and ad groups? Ask if they use third-party software or if they have one of their own.
Considering the time invested in scaling faster, do they automate the bid optimization process? And do they employ core pay per click strategies like keyword harvesting, bid optimization and negative keyword strategy? But most importantly, evaluate if the agency is aligned with your long-term and short-term goals.
Brand management and advertising are the two of the top variables that impact your game plan on Amazon. However, other factors influencing rankings, conversion, and brand impression on Amazon, such as inventory, pricing and reputation, also need to be considered.
Considering the dynamic nature of the Amazon marketplace and the e-commerce industry, brands definitely need hands-on Amazon expertise to engage shoppers and convert them into valuable customers.
Thanks for watching and please make sure to watch the next videos with more Amazon FBA tips that will show up right about now.