Amazon Ads play a crucial role in determining the success and failure of a business. Amazon Ads may look like a cakewalk, but you couldn’t be more wrong about it! Unlocking the full potential of Amazon Ads takes loads of patience, expertise, and ample guidance.
So worry not, we are here with enough expertise and experience to explain the ins and outs of Amazon Ads and provide you with much-needed guidance on how to leverage the potential of Amazon Ads to thrive and succeed in your business.
The Metrics that Matter
Ad Impressions
Ad Impressions are a key metric in gauging the amount of exposure your product gets on Amazon. They are basically the number of times your ad is displayed to the shopper. However, high impressions only mean that your ad is showing up on their feed.
However, it does not tell how many shoppers found your ad useful and chose to click on it. You are not required to pay for impressions, only if your ad is being clicked on will your ad budget be affected.
Conversion Rate (CR)
Conversion Rate is basically the amount of people who have purchased your product after landing on the product detail page. The Conversion Rate is calculated by dividing the total amount of purchases by the total number of ad clicks.
What CR tells you about a product is its high relevance to your ad or product detail page. So, if you have high CR, then your Amazon Ads have been successful.
Click Through Rate (CTR)
CTR is another critical metric to look out for when it comes to assessing your ad performance. CTR is measured by dividing the number of clicks by the total impressions of a product. A high CTR for your ad indicates that your product is popular among the shoppers and they are willing to click on it and find out more about it.
However, a low CTR is the result of your ad not being compelling enough for the shoppers to want to click on your product. A low CTR indicates that your target keywords may need to be modified and adjusted for increased relevancy.
Strategies to improve Amazon Advertising for your Business Success
Data-Driven Keyword Research
The significance of Data-Driven Keyword Research is immense. However, one of the most common mistakes many sellers make is keyword stuffing. This happens due to a lack of research and overlooking the most critical aspect of keyword optimization – buyer intent.
There are two types of keywords; high-volume and low-volume keywords. High-volume keywords can also be characterized as product research keywords. These keywords are mainly used by shoppers who are researching for a particular product. Hence, the conversion rates for the high-volume keywords are likely going to be pretty low.
On the other hand, low-volume keywords are more targeted and product-specific. These keywords capture the buyer’s intent perfectly making them highly likely to convert.
Significance of Negative Keywords
Negative Keywords are crucial to target your ads to the relevant audience. You use negative keywords when you don’t want your ads to appear on the SERP in response to a particular keyword. For instance, say your business sells synthetic shoes and a shopper is looking for leather shoes.
The shopper will click on your ad and later realize they were not looking for your product and immediately leave costing you charges for a wasted click. Hence, if you add your negative keyword which in this case would be leather shoes the SERP will prevent your ads from showing up on the ‘leather shoes’ search query thereby costing you ad spend.
In-depth Keyword Analysis Techniques
- To run an in-depth keyword analysis, the first step is to have a seed keyword and use that to find more keyword ideas.
- Find out your competitor’s keywords to understand your competitor’s strategy better and improve and modify your strategies accordingly.
- Analyze your keywords with key metrics such as Search Volume and Keyword Difficulty to rule out weak keywords.
- Estimate the business value of the keywords by estimating the ranking of a particular keyword that would yield an action profitable for your business
Wrapping Up
Leverage the potential of Amazon Ads to reach more customers, increase traffic and sales, and improve customer loyalty to achieve business growth and success. Connect with BM Consulting if you are a seller looking to grow your business on Amazon. Give us a call today!