-- The Most Powerful Digital Advertising Tool Hidden Inside Amazon DSP
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Amazon has grown substantially in both strength and size as a marketing platform in recent years. While the site has dominated the world of online retail for at least two decades, it only began to capitalise on the vast quantity of data it stores significantly further down the line.
As well as having a captive audience of millions of shoppers, Amazon benefits from the kind of rich data which most companies would do anything for – and now has a fleet of tools specifically designed to help brands use this data to their advantage.
What is Amazon DSP?
Amazon DSP is Amazon’s demand side platform. Put simply, it encompasses the software which gives advertisers access to a wide range of different ad placements. Unlike some other tools, Amazon DSP is not limited to Amazon ads alone. Instead, advertisers can use Amazon DSP to place adverts on a variety of different platforms across the web.
These capabilities are highly varied, with ad space everywhere from mobile apps to news and lifestyle websites. As Amazon itself is often keen to point out, the possibilities are endless.
However, despite being one of the major tools available to an Amazon advertiser, Amazon DSP is also regularly misunderstood or bunched together with the other DSPs available in the online marketplace. It is certainly true that there are other platforms which sell access to ad space – but there is not a single one which can truly offer the same scope as Amazon DSP.
Amazon continues to grow its capabilities as an advertiser, and has invested heavily in making its DSP not just competitive, but a leader in its field. As we have noted, Amazon benefits from a vast wealth of customer data and purchase intent, and it is through the DSP that this data is most valid and harnessed to its full capabilities.
Amazon DSP allows users to mine a wealth of data regardless of whether or not their product is available for sale on Amazon. In addition, the entire process is available on a programmatic basis – ensuring the platform simply bids on the most important ad placements which match the brand’s plans from both an audience and budget perspective.
Due to the automated nature of Amazon DSP, it is fully scalable meaning advertisers are truly able to mine the data on a progressive basis. The Amazon algorithm is forever learning more about customer behaviour and compiling this new knowledge into its database. As a result, advertising efforts grow more and more effective over the lifetime of its use for any campaign.
Advertising outside of Amazon
Of course, a major selling point for Amazon DSP is that it is not just available for use on platforms which are either owned by or operated by Amazon. Instead, choices are highly varied and available across a multitude of online locations. Reaching these markets may have seemed like a distant dream to some brands, but Amazon DSP makes it simple and straightforward. Most importantly, it is also a cost-effective and time-efficient route.
The importance of targeting
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Where Amazon DSP really stands out however, is in the important area of targeting. It is impossible to stress how vital it is to target advertising accurately and precisely. Targeting makes all the difference between your advertising reaching the right audience, and falling flat. It is fair to say that getting your targeting right is crucial to your bottom line. If your campaigns don’t land in front of the right eyes, at the right time, wasted ad spend and little to no ROI is a very real possibility. But how is Amazon DSP targeting different from any other advertising platform?
Amazon DSP targeting
Using Amazon DSP for your targeting is the ideal way to ensure both accuracy and depth. The platform has a real super power in that it enables you to target based on past and current shopping behaviour.
There is simply no other solution which offers this richness of third party data, and this in turn gives Amazon DSP a significant competitive advantage and plenty of scope for brands who are ready and willing to make the most of it.
However, segmenting by audience is a more complex task than it may immediately appear, and Amazon DSP offers many more options for segmentation than you may immediately consider. Thankfully it is possible to further explore the segmentation and targeting options which are offered on Amazon DSP from first use, enabling you to target precisely the right shoppers at exactly the right time from day one of your campaign.
There are six options for targeting:
Remarketing
This option is aimed at engaging with customers who have had a prior interaction with the brand, or products sold by the brand. The remarketing capabilities of Amazon DSP re-engage with these customers across the web, helping to draw them back into making a purchase.
Lifestyle
This targeting option produces adverts which have great relevance to buyers within selected categories. This enables customers to find more products which are similar to those they’ve already purchased, and also enables sellers to get their products seen by audiences with enhanced relevancy.
Contextual
Targeting by context works by showing adverts which have superior relevance within a particular context. This option is updated on a real time basis, ensuring ongoing relevancy throughout searching and browsing activity across the web.
Behavioural
This targeting option focuses entirely on customers who have demonstrated an enthusiasm for the category of products which your own exists within. The targeting is centred on a 30-day run time, so will apply to anyone who has been browsing throughout this month-long period. It is a handy targeting option for ensuring that ads are again as relevant as possible to the audience being targeted.
Through the audience builder tool within Amazon DSP, you can also select the timeframe within which you want to explore this particular metric – giving advertisers even more options.
Advertiser Audiences
This category is focused on the information gleaned from branded data, which includes everything from data relating to a CRM to e-mail lists, tracking pixels and even a web page.
Audience Lookalike
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The last of these six categories targets customers who are similar to existing customers. This is of course only possible thanks to the vast quantity of data which Amazon has available, ensuring that even the most seemingly obscure audiences are still reachable.
These targeting categories all help brands to find their audiences online and appeal to them in meaningful ways.
Why use Amazon DSP?
Online sellers, brands and the agencies they work with are always on the lookout for new and effective ways to reach exactly the right audience. Using high quality advertising in formats such as display and video is a proven way to connect with buyers, and keep them in the know about products and the brand itself.
Amazon DSP offers enhanced relevancy which goes beyond the traditional borders, helping to make it all the more precise (and therefore lucrative) for the brands and sellers who use this platform to manage their ad campaigns.
Audience Builder
Amazon DSP Audience Builder can be used to develop competitor audiences, using information gleaned from prior interactions consumers had with the products and brand concerned.
Adverts can be retargeted to suit audiences who are highly likely to make a purchase, ensuring more conversions for the brand itself. Audience Builder was a key focus for Amazon throughout 2019, and continues to grow in importance in 2020.
The Audience Builder within Amazon DSP is particularly well-suited to retargeting strategies which seek to draw back interested customers, as well as advertisers focused on moving beyond the standard boundaries of digital marketing. What Amazon DSP offers in abundance is greater depth and meaningful data, as well as the tools to make this data really work for you.
Using Audience Builder
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Getting started with Audience Builder in Amazon DSP is surprisingly user-friendly. You’ll need to head to the DSP and be sure to enter your credentials. From here, click on the tab which says ‘Audiences’ and create a new audience by clicking ‘New Audience’.
Next, click on ‘Products’ and create your new audience using specific ASINs which you want to highlight. After this part of the process, click ‘Next’. Afterwards, choose the ASINs which you want to use when creating your new audience.
It is possible to add anything up to 1000 ASINs to audience targeting. After this stage, select the Amazon marketplace where you are currently selling products, before selecting the interactions on which the targeting should be focused. Key options focus on key categories:
Purchased Products
Viewed Products
Product Searches
Similar Products
After you have made your selection, name the audience and press ‘Create’. As a final measure to ensure everything is working as it should be, check the status of your audiences after they’ve been live for a day.
Afterwards, you’ll be able to look forward to better and more accurate targeting across your Amazon DSP advertising – making full use of all that wonderful Amazon data by linking it to your own brand and products.
The post Amazon DSP Agency Secrets: The Most Powerful Digital Advertising Tool Hidden Inside Amazon DSP appeared first on prReach Blog.
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