Amazon Brand Lift and Amazon Brand Metrics: Growth Toolkit
Mon, 04 Dec 2023 12:36:54 GMT
Take advantage of Amazon Ads brand building insights data to drive sustainable growth Building a strong brand, especially on Amazon, is a journey that combines strategy, creativity, and consistent customer engagement.
While pushing product sales is important, losing sight of the broader “brand” picture can be a detriment to that lower funnel sales effort.
Why Care About Brand Building On Amazon Successful brands stand out not only by reaching their audience but by forging lasting connections. To accomplish this brand leaders use a blend of effective interaction, messaging, and a deep understanding of customer experiences.
Brand relevance is often a crucial and deciding element of the purchase process. As a result, brand marketing is one of the key tools for connecting with audiences, shaping perceptions, and storytelling.
Amazon offers a suite of tools to facilitate this, including Amazon Sponsored Ads (Sponsored Brand, Sponsored Product, Sponsored Display), Amazon DSP, Amazon Attribution, and Amazon Shoppers Panel
By leveraging these capabilities, brands can effectively measure and boost their presence on Amazon, leading to increased customer loyalty and sales growth.
For those interested in brand building on Amazon, they offer a couple of innovative, data-driven solutions; Amazon Brand Metrics and Amazon Brand Lift . While both offer an understanding into the performance of your investments across those Amazon capabilities, they serve different purposes.
Amazon’s Brand Metrics A self-service solution, Amazon Brand Metrics insights data offers brands of all sizes insights into customer engagement and shopping behaviors on Amazon.
The insights data extends beyond simple ad-attributed reporting, enabling brands to quantify and optimize their performance based on shopping engagements predictive of actual sales.
Brand metrics facilitates a deeper understanding of the customer journey from initial awareness to loyalty, supporting long-term brand engagement strategies.
Examples of Brand Metrics Brand metrics provide visibility into whether an ad-attributed purchase was made by an existing customer or a new buyer for the brand’s product on Amazon within a year. Advertisers has access to information like:
Total new-to-brand purchases and sales: Understand the overall impact of your campaigns on acquiring new customers and generating sales from them. New-to-brand purchase rate: Measure the percentage of ad-attributed purchases made by new customers. This metric helps you assess the efficiency of your campaigns in attracting new buyers. Cost per new-to-brand customer: Determine the average cost of acquiring a new customer through your advertising efforts. This metric is crucial for optimizing your budget allocation and maximizing ROI. With these and other new-to-brand metrics, advertisers can make informed decisions about their marketing strategies, identify the most effective channels and tactics for acquiring new customers, and allocate their resources more efficiently.
Amazon Brand Metrics: Introducing New-To-Brand Analytics
Amazon Brand Lift Study Accessible through the Amazon DSP console, Amazon Brand Lift studies allow advertisers to launch studies for fast, reliable insights. Amazon Brand Lift is powered by the Amazon Shopper Panel, an invitation-only, opt-in program that surveys at least 1,000 participants.
Amazon Brand Lift uses real feedback from people who shop on Amazon and are exposed to your ads to figure out how well your ads are working. For example, they might ask customers if they’ve seen your ads before, if they know your brand, or if they’re interested in buying something from you. By looking at this data, Amazon can give you a more accurate picture of how your ads are impacting your brand.
These studies measure the impact of ad campaigns, comparing the responses of an ad exposed group to a control group, providing insights into brand perception and loyalty shifts.
Brand Lift: Study the impact of your advertising
Do Brand Building Efforts On Amazon Deliver Results? The impact of brand building efforts on Amazon is measurable. A study focusing on apparel, shoes, and handbags revealed that brands reaching new shoppers with awareness campaigns achieved incremental growth. Key findings include:
New-to-Brand Shoppers: Fashion brands using Amazon Ads for awareness campaigns saw a 19% increase in new-to-brand shoppers. Repeat Purchases: These new shoppers had a 12% higher likelihood of making repeat purchases within the year. Value Lift: There was a 20% lift in value when comparing new-to-brand customers acquired during campaign periods to those who came in the absence of advertising. Increased ROAS: Advertisers using a combination of Sponsored Brands video, Store spotlight, and custom image ad formats saw a 5.5% increase in return on ad spend. Higher Conversion Rate: A 57.8% increase in conversion rate was observed for advertisers using both Sponsored Brands custom image and Store spotlight ad formats. CTR Improvement: The use of the Sponsored Brands video ad format led to a 108.1% increase in click-through rate. Data-driven Brand Insights: Optimize The Customer Journey Knowing brand building efforts on Amazon can deliver results, Amazon provides provides a broad collection of metrics and accurate data that is instrumental in measuring and enhancing brand awareness.
Quantitative Insights: Provides quantifiable metrics on shopping engagements, offering a clearer picture of how customer interactions translate into sales. Performance Optimization: Brands can use these insights to refine their marketing strategies, both paid and organic, leading to more effective campaigns. Competitive Analysis : Brand Metrics allows brands to monitor their performance relative to their categories, offering a valuable benchmarking tool. Long-Term Value Measurement: The suite of awareness and consideration metrics within Brand Metrics helps brands measure the long-term value of customer engagement. Deeper Engagement Insights: By analyzing sales over a 12-month period, brands gain insights into the effectiveness of their strategies in fostering customer loyalty. By measuring the impact of your upper- and mid-funnel tactics, you can see how shoppers are interacting with your brand throughout the marketing funnel. This enhanced visibility empowers advertisers to measure the true impact of their campaigns on customer acquisition and growth.
For data-driven organizations, the insights Amazon delivers allows your team to have the information needed to to evaluate the value of shopping engagements by looking at sales generated over a 12-month lookback period.
Refine Your Marketing Channels With insights in hand, teams can make choices on how best to optimize organic marketing and advertising efforts off Amazon, on an Amazon’s store, or in ads to engage more shoppers and build your brand.
The insights can help inform investments more broadly;
Email Marketing Enhancements: By tracking the shopper engagement rate from Amazon, you might focus on creating emails that drive more consideration events or purchases, adjusting your content to better engage your audience. Digital Marketing Refinement: Understanding the customer conversion metric can guide you in fine-tuning your digital ads, targeting actions like detail page views or ‘Add to Cart’ clicks to boost conversions. Social Media Strategy Adjustments : If you’re noticing a difference in new-to-brand sales through your Amazon-driven social media posts, it could indicate a need to shift your content to attract more first-time buyers. Website Analytics Strategy: Incorporating insights on branded searches can help in optimizing your website to convert shoppers who have researched your brand but haven’t yet made a purchase. Content Marketing Evolution: By considering the awareness and consideration indexes from Amazon, you can tailor your blog posts and content to better align with the factors that lead to consideration and sales. Video and Streaming TV Ad Optimization: Evaluating the purchase segment data can inform changes to your video content, targeting brand customers, one-time purchasers, and the most engaged shoppers to maximize impact. Sales Approach Enhancement: Insights into different shopper segments — like repeat customers or Subscribe & Save users — can refine your sales team’s approach, focusing on retention strategies or upselling to your most loyal customers. Revenue Focused Adjustments: Understanding the dynamics of new-to-brand sales and branded searches can help you decide where to focus your efforts for maximum revenue generation through Amazon. SEO Strategy Refinement: Integrating shopper engagement and conversion metrics from Amazon into your SEO efforts can guide you to optimize for keywords and content that lead to higher engagement and conversion rates. The process becomes cyclical as you monitor your performance relative to your category and peers at each stage of the purchase journey.
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Sign up for a 30-day free trial of our Amazon Brand Metrics data automation Openbridge automates Amazon Brand Metrics API integrations and centralizes data storage in a unified data warehouse.
The trial delivers an automated and streamlined data pipeline for all of your crucial brand data to a trusted and private location like Amazon Redshift, Amazon Redshift Spectrum, Google BigQuery, Snowflake, Azure Data Lake, and Amazon Athena.
Unified data empowers your team to use best-in-class analytics tools like Google Data Studio, Tableau, Microsoft Power BI, Looker, or Amazon Quicksight. Combining various Amazon reports becomes a breeze, allowing you to gain a comprehensive and holistic view of your business.
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Frequently Asked Questions What is the Eligibility For Amazon Brand Lift? All ad campaigns run through the Amazon DSP are eligible for Amazon Brand Lift studies. Brands are encouraged to consult with account executives to determine the feasibility of studies for their campaign types. The feasibility of studies varies by campaign type, encouraging brands to consult with account executives for best practices.
Creating a study in the Amazon DSP console is streamlined and self-service. Brands can choose orders, create study parameters, and check the status through the studies dashboard. The process is designed to be user-friendly, ensuring quick turnaround with results ready in as few as 30 days.
Are Brand Lift Studies Private? Amazon Brand Lift studies are privacy-safe, offering detailed insights and easy reporting. They are available in multiple regions, including the United States, with the Amazon Shopper Panel providing objective, aggregated results.
What does Amazon Brand Lift Cost? Per Amazon; “Brand Lift is free as long as campaigns meet spend and impression minimums. Minimums vary by marketplace; please visit the Amazon DSP or contact your account executive to learn more.”
Amazon Brand Lift and Amazon Brand Metrics: Growth Toolkit was originally published in Openbridge on Medium, where people are continuing the conversation by highlighting and responding to this story.
