MARKETING

Are You Overselling the Power of Data? [Rose-Colored Glasses]

Published

2 years ago

May 20, 2022

My old boss, the CEO of a former employer, was one of the best salespeople I’ve ever known.

He could work a room, listening and knowing just the right thing to say to keep interest piqued and drive value in the conversation. Just as importantly, he knew exactly (and I mean exactly) when to end the meeting and walk out the door. It’s just like show business, “leave them wanting more.”

Anyone who has experienced a bad salesperson has seen the opposite – the classic moment when the rep doesn’t know how to take “yes” for an answer. The customer has usually implied or even overtly said they are interested in the next step, and the rep continues to oversell features, benefits, discounts, and value-added services – all of which are unnecessary.

Two consequences happen when we oversell something. First, we talk the customer out of their decision to purchase. I once witnessed a rep continue to talk and talk and talk after the customer had expressed interest in purchasing. The rep mentioned something about the future development of the product, and it made the customer suddenly question whether that roadmap matched their needs. It killed the sale.

The second effect is almost as bad. The rep wants so badly to ensure there are “no surprises” that they oversell by continuing to offer more and more benefits until the customer finally says, “Stop.” By then, the sales rep has often set such unrealistic expectations that they’re set up to fail.

That’s the situation for marketing and content practitioners selling the use of data to business leadership.

#Content marketers often set unrealistic expectations about the value of data, setting up their programs for failure, says @Robert_Rose via @CMIContent. Click To Tweet

Data driven to the wrong destination

“We’re data-driven!” If I had a dollar for every time I heard that when I ask about the measurement strategy to a larger marketing, brand, or demand generation team, I’d be on a beach somewhere sipping a fancy tequila.

Most of the time, once we dive into what’s behind that statement, we find “data-driven” quite literally means the team is driven by data. They have no insight into how (or if) the data is helping.

They are so awash in metrics, analytics, and numbers that they search and find some data that drives every move that they make. Everything they do is driven by data. Every action is supported in retrospect by finding the data.

What these “data-driven” marketers fail to realize is that by doing this, they also build a wall that prevents attempting anything new.

Whenever purely “data-driven” is the starting place, I know what the next challenge will be when someone wants to innovate and do something new. To do that, a “business case” must be made. Someone – usually the person responsible for making the business case – will inevitably ask, “Well, what does the data say?”

But data doesn’t (and can’t) say anything definitively if the idea is truly innovative. What happens? The business-case maker looks at the data they’ve used to justify all previous decisions. When they can’t find helpful data, they look at external best practices to see if the innovative thing matches up to what other people are doing.

Data doesn’t and can’t say anything definitively if the idea is truly innovative, says @Robert_Rose via @CMIContent. Click To Tweet

Of course, if many best practices that will point to this innovative thing exist, is the thing really all that innovative?

Hmmmm …

Do what the data said, not what I said

For the last 10 years, content and marketing practitioners have been sold the magic of data – a way to increase the efficiency and performance of digital experiences. In turn, many marketing teams desperate to show proof-of-life of anything they do with content oversold the power of data. It now hamstrings them from doing anything that deviates from being incrementally above or below average.

I recently worked with a B2B technology company that wanted to launch a new digital thought leadership magazine. For them, this was an innovative new approach to delivering education to decision-makers in their industry. They spent time developing a solid set of “big ideas.” They decided on a content strategy of cutting-edge ideas rather than pragmatic how-tos. They planned to position their subject matter experts as people who could pull customers into the future. The team was excited.

The vice president spearheading this initiative made the rounds to get buy-in from the product, brand, public relations, and C-suite teams.

It didn’t go very well.

In each conversation, the vice president got a lot of resistance with questions about what the data said. In an ironic twist, the data referenced by these other teams was what the marketing team had used to demonstrate the success of previous campaigns. The vice president heard:

“This sounds like it runs counter to what our SEO data says.”
“Data says that the end buyer isn’t senior leadership – shouldn’t we be solely targeting the buyer?”
“Where is the data that shows that senior leaders need this information?”
“What is your forecast for the number of leads we will get from this?”
“Do we have data on whether these topics are popular?”

In the end, the magazine project was put on hold.

The lesson isn’t that the company didn’t get to launch a new digital magazine. The lesson is why they didn’t get to launch it.

The team had oversold their use of data to justify every single thing that they did. They had established that they were “data-driven.” Their colleagues simply responded based on what they had been sold: “Why did the data drive you to this conclusion?”

The Definitive Guide to Content Analytics: Understanding the Data That Matters Most for Successful Marketing

Want to optimize your content? Start with the right metrics and measure how your content is engaging with your audience. Get the guide to learn more!

Data should ride shotgun, not drive

Measuring content and experience is difficult. It always has been and always will be. As I’ve written, our objectives matter more than the accuracy of the data. Ask what is the most important insight to get – that the blog post or white paper was found, it was read, or it changed a behavior? Often, we want insight from the latter, but we use data and make decisions based on the former.

One of my favorite books about data and measurement is The Haystack Syndrome: Sifting Information Out of the Data Ocean by Eliyahu Goldratt. I always reflect on this quote:

Tell me how you will measure me, and I will tell you how I will behave. If you measure me in an illogical way, don’t complain about illogical behavior.

In our selling of data’s capabilities, we must acknowledge occasions will arise when we’ll need to go against the data or proceed without it. Otherwise, we’ll be data-driven to mediocrity.

Data informs the answer to questions. We should drive the car. Data should ride shotgun.

Content marketers should drive the car. Data should ride shotgun, says @Robert_Rose via @CMIContent. Click To Tweet

To have the flexibility to try innovative things, we must reframe how we sell data as a value to our content and marketing strategy. These two ideas can help:

Stop treating data as proof of life: You should cease using and selling the value of data to justify decisions already made. Data-driven value determined retrospectively, as in “Did this campaign work?” is helpful. But if you let data drive your entire strategy, you will put future content marketing ideas into a box – every decision becomes about “beating” the last decision. You’ll never try anything that isn’t trying to “fix” the last decision.
Content and marketing strategy is not Jeopardy: Get beyond scanning mountains of data to come up with an answer in the form of a question, which shapes your strategy. First, form a purpose, an objective to reach, and then assemble a list of key business questions to help form a plan to reach that objective.Remember, in business, it’s much better to know what you don’t know than to not know what you don’t know. When faced with the latter, the tendency is to dive into the data and find an answer that matches a question you could have.

If you start with an objective, develop the key questions to meet it. Then design what data is needed to answer those key questions. Only then are you using data to inform a decision, not to justify one. Indeed, a key question might be, “Should we do this?” But then, if it’s a new thing, you can acknowledge that answer may not be known before the project begins.

HANDPICKED RELATED CONTENT: Measuring Content Marketing Impact: How To Set Objectives That Matter

Learning to succeed

Sometimes it’s better to learn than succeed.

Here is an experiment that you can run with your teams. On your next Zoom call (or in your office as the new normal may be), ask everyone three questions. The first is “Should companies like ours be innovative?” I’d bet a fancy cocktail that 90% will nod their heads.

Then, immediately ask the next question: “Is our company (or team) innovative?” This query will almost assuredly result in questions: “Do you mean, like, ever?” or “ Do you mean, now? Are we innovative now?”

Clarify as necessary: “Yes. Ever. Have we ever been innovative?”

Depending on the type, age, and size of your company, your mileage will vary. But for those yes responses, I would bet another fancy cocktail on the answer to the third and final question: “When was that?”

With, I dare say, with few exceptions, everyone will cite something that ended up successful.

You see. Everybody LOVES and remembers innovation, just so long as it worked.

In a business only driven by data, nobody wants to be the dope who said yes to the new strategy that had no data to support the decision and failed.

In a “data-driven” business, you can become incapacitated by the feeling that data should always be the driving force. You’re unable or unwilling to embark on any activity that you can’t ensure will nudge your stats in the right direction.

If you reframe the use of data and measurement, get agreement on the objective, then ask better questions to enable you and your team to make more things that might succeed spectacularly or fail with a thud. As Nobel Prize-winning physicist Niels Bohr once said, “An expert is someone who has made all the mistakes which can be made in a very narrow field.”

So, let’s go use data to empower the decisions that free us up to make some of the best mistakes.

Get Robert’s take on content marketing industry news in just three minutes:

https://www.youtube.com/watch?v=videoseries

Subscribe to workday or weekly CMI emails to get Rose-Colored Glasses in your inbox each week.

Cover image by Joseph Kalinowski/Content Marketing Institute

!function(f,b,e,v,n,t,s)
{if(f.fbq)return;n=f.fbq=function(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};
if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′;
n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];
s.parentNode.insertBefore(t,s)}(window, document,’script’,
‘https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘1432232210459613’);
fbq(‘track’, ‘PageView’);

Source link

Related Topics:Data glasses Overselling power RoseColored

Up Next

How to Write a Respectable Resignation Letter [+Samples & Templates]

Don't Miss

Martech failure? 50% say loyalty programs don’t offer much value

Click to comment

You must be logged in to post a comment Login

MARKETING

AI driving an exponential increase in marketing technology solutions

Published

2 days ago

December 6, 2023

Entireweb News Bot

AI driving an exponential increase in marketing technology solutions

The martech landscape is expanding and AI is the prime driving force. That’s the topline news from the “Martech 2024” report released today. And, while that will get the headline, the report contains much more.

Since the release of the most recent Martech Landscape in May 2023, 2,042 new marketing technology tools have surfaced, bringing the total to 13,080 — an 18.5% increase. Of those, 1,498 (73%) were AI-based.

“But where did it land?” said Frans Riemersma of Martech Tribe during a joint video conference call with Scott Brinker of ChiefMartec and HubSpot. “And the usual suspect, of course, is content. But the truth is you can build an empire with all the genAI that has been surfacing — and by an empire, I mean, of course, a business.”

Content tools accounted for 34% of all the new AI tools, far ahead of video, the second-place category, which had only 4.85%. U.S. companies were responsible for 61% of these tools — not surprising given that most of the generative AI dynamos, like OpenAI, are based here. Next up was the U.K. at 5.7%, but third place was a big surprise: Iceland — with a population of 373,000 — launched 4.6% of all AI martech tools. That’s significantly ahead of fourth place India (3.5%), whose population is 1.4 billion and which has a significant tech industry.

Dig deeper: 3 ways email marketers should actually use AI

The global development of these tools shows the desire for solutions that natively understand the place they are being used.

“These regional products in their particular country…they’re fantastic,” said Brinker. “They’re loved, and part of it is because they understand the culture, they’ve got the right thing in the language, the support is in that language.”

Now that we’ve looked at the headline stuff, let’s take a deep dive into the fascinating body of the report.

The report: A deeper dive

Marketing technology “is a study in contradictions,” according to Brinker and Riemersma.

In the new report they embrace these contradictions, telling readers that, while they support “discipline and fiscal responsibility” in martech management, failure to innovate might mean “missing out on opportunities for competitive advantage.” By all means, edit your stack meticulously to ensure it meets business value use cases — but sure, spend 5-10% of your time playing with “cool” new tools that don’t yet have a use case. That seems like a lot of time.

Similarly, while you mustn’t be “carried away” by new technology hype cycles, you mustn’t ignore them either. You need to make “deliberate choices” in the realm of technological change, but be agile about implementing them. Be excited by martech innovation, in other words, but be sensible about it.

The growing landscape

Consolidation for the martech space is not in sight, Brinker and Riemersma say. Despite many mergers and acquisitions, and a steadily increasing number of bankruptcies and dissolutions, the exponentially increasing launch of new start-ups powers continuing growth.

It should be observed, of course, that this is almost entirely a cloud-based, subscription-based commercial space. To launch a martech start-up doesn’t require manufacturing, storage and distribution capabilities, or necessarily a workforce; it just requires uploading an app to the cloud. That is surely one reason new start-ups appear at such a startling rate.

Dig deeper: AI ad spending has skyrocketed this year

As the authors admit, “(i)f we measure by revenue and/or install base, the graph of all martech companies is a ‘long tail’ distribution.” What’s more, focus on the 200 or so leading companies in the space and consolidation can certainly be seen.

Long-tail tools are certainly not under-utilized, however. Based on a survey of over 1,000 real-world stacks, the report finds long-tail tools constitute about half of the solutions portfolios — a proportion that has remained fairly consistent since 2017. The authors see long-tail adoption where users perceive feature gaps — or subpar feature performance — in their core solutions.

Composability and aggregation

The other two trends covered in detail in the report are composability and aggregation. In brief, a composable view of a martech stack means seeing it as a collection of features and functions rather than a collection of software products. A composable “architecture” is one where apps, workflows, customer experiences, etc., are developed using features of multiple products to serve a specific use case.

Indeed, some martech vendors are now describing their own offerings as composable, meaning that their proprietary features are designed to be used in tandem with third-party solutions that integrate with them. This is an evolution of the core-suite-plus-app-marketplace framework.

That framework is what Brinker and Riemersma refer to as “vertical aggregation.” “Horizontal aggregation,” they write, is “a newer model” where aggregation of software is seen not around certain business functions (marketing, sales, etc.) but around a layer of the tech stack. An obvious example is the data layer, fed from numerous sources and consumed by a range of applications. They correctly observe that this has been an important trend over the past year.

Build it yourself

Finally, and consistent with Brinker’s long-time advocacy for the citizen developer, the report detects a nascent trend towards teams creating their own software — a trend that will doubtless be accelerated by support from AI.

So far, the apps that are being created internally may be no more than “simple workflows and automations.” But come the day that app development is so democratized that it will be available to a wide range of users, the software will be a “reflection of the way they want their company to operate and the experiences they want to deliver to customers. This will be a powerful dimension for competitive advantage.”

Constantine von Hoffman contributed to this report.

Get MarTech! Daily. Free. In your inbox.

Source link

MARKETING

Mastering The Laws of Marketing in Madness

Published

3 days ago

December 5, 2023

Entireweb News Bot

Mastering The Laws of Marketing in Madness

Navigating through the world of business can be chaotic. At the time of this publication in November 2023, global economic growth is expected to remain weak for an undefined amount of time.

However, certain rules of marketing remain steadfast to guide businesses towards success in any environment. These universal laws are the anchors that keep a business steady, helping it thrive amidst uncertainty and change.

In this guide, we’ll explore three laws that have proven to be the cornerstones of successful marketing. These are practical, tried-and-tested approaches that have empowered businesses to overcome challenges and flourish, regardless of external conditions. By mastering these principles, businesses can turn adversities into opportunities, ensuring growth and resilience in any market landscape. Let’s uncover these essential laws that pave the way to success in the unpredictable world of business marketing. Oh yeah, and don’t forget to integrate these insights into your career. Follow the implementation steps!

Law 1: Success in Marketing is a Marathon, Not a Sprint

Navigating the tumultuous seas of digital marketing necessitates a steadfast ship, fortified by a strategic long-term vision. It’s a marathon, not a sprint.

Take Apple, for instance. The late ’90s saw them on the brink of bankruptcy. Instead of grasping at quick, temporary fixes, Apple anchored themselves in a long-term vision. A vision that didn’t just stop at survival, but aimed for revolutionary contributions, resulting in groundbreaking products like the iPod, iPhone, and iPad.

In a landscape where immediate gains often allure businesses, it’s essential to remember that these are transient. A focus merely on the immediate returns leaves businesses scurrying on a hamster wheel, chasing after fleeting successes, but never really moving forward.

Want to get certified in Content Marketing?

Leverage the tools and channels to predictably and profitably drive awareness, leads, sales, and referrals—EVERYTHING you need to know to become a true master of digital marketing. Click Here

A long-term vision, however, acts as the north star, guiding businesses through immediate challenges while ensuring sustainable success and consistent growth over time.

Consider This Analogy:

Building a business is like growing a tree. Initially, it requires nurturing, patience, and consistent care. But with time, the tree grows, becoming strong and robust, offering shade and fruits—transforming the landscape. The same goes for business. A vision, perseverance, and a long-term strategy are the nutrients that allow it to flourish, creating a sustainable presence in the market.

Implementation Steps:

Begin by planning a content calendar focused on delivering consistent value over the next six months.
Ensure regular reviews and necessary adjustments to your long-term goals, keeping pace with evolving market trends and demands.
And don’t forget the foundation—invest in robust systems and ongoing training, laying down strong roots for sustainable success in the ever-changing digital marketing landscape.

Law 2: Survey, Listen, and Serve

Effective marketing hinges on understanding and responding to the customer’s needs and preferences. A robust, customer-centric approach helps in shaping products and services that resonate with the audience, enhancing overall satisfaction and loyalty.

Take Netflix, for instance. Netflix’s evolution from a DVD rental company to a streaming giant is a compelling illustration of a customer-centric approach.

Their transition wasn’t just a technological upgrade; it was a strategic shift informed by attentively listening to customer preferences and viewing habits. Netflix succeeded, while competitors such a Blockbuster haid their blinders on.

Here are some keystone insights when considering how to Survey, Listen, and Serve…

Customer Satisfaction & Loyalty:

Surveying customers is essential for gauging their satisfaction. When customers feel heard and valued, it fosters loyalty, turning one-time buyers into repeat customers. Through customer surveys, businesses can receive direct feedback, helping to identify areas of improvement, enhancing overall customer satisfaction.

Engagement:

Engaging customers through surveys not only garners essential feedback but also makes customers feel valued and involved. It cultivates a relationship where customers feel that their opinions are appreciated and considered, enhancing their connection and engagement with the brand.

Product & Service Enhancement:

Surveys can unveil insightful customer feedback regarding products and services. This information is crucial for making necessary adjustments and innovations, ensuring that offerings remain aligned with customer needs and expectations.

Data Collection:

Surveys are instrumental in collecting demographic information. Understanding the demographic composition of a customer base is crucial for tailoring marketing strategies, ensuring they resonate well with the target audience.

Operational Efficiency:

Customer feedback can also shed light on a company’s operational aspects, such as customer service and website usability. Such insights are invaluable for making necessary enhancements, improving the overall customer experience.

Benchmarking:

Consistent surveying allows for effective benchmarking, enabling businesses to track performance over time, assess the impact of implemented changes, and make data-driven strategic decisions.

Implementation Steps:

Regularly incorporate customer feedback mechanisms like surveys and direct interactions to remain attuned to customer needs and preferences.
Continuously refine and adjust offerings based on customer feedback, ensuring products and services evolve in alignment with customer expectations.
In conclusion, adopting a customer-centric approach, symbolized by surveying, listening, and serving, is indispensable for nurturing customer relationships, driving loyalty, and ensuring sustained business success.

Law 3: Build Trust in Every Interaction

In a world cluttered with countless competitors vying for your prospects attention, standing out is about more than just having a great product or service. It’s about connecting authentically, building relationships rooted in trust and understanding. It’s this foundational trust that transforms casual customers into loyal advocates, ensuring that your business isn’t just seen, but it truly resonates and remains memorable.

The Ultimate Guide to An Effective Instagram Marketing Strategy

Are You Ready to Master Social Media?

Become a Certified Social Media Specialist and learn the newest strategies (by social platform) to draw organic traffic to your social media sites.

Click here

For instance, let’s talk about Oprah! Through vulnerability and honest connections, Oprah Winfrey didn’t just build an audience; she cultivated a community. Sharing, listening, and interacting genuinely, she created a media landscape where trust and respect flourished. Oprah was known to make her audience and even guests cry for the first time live. She had a natural ability to build instant trust.

Here are some keystone insights when considering how to develop and maintain trust…

The Unseen Fast-Track

Trust is an unseen accelerator. It simplifies decisions, clears doubts, and fast-forwards the customer journey, turning curiosity into conviction and interest into investment.

The Emotional Guardrail

Trust is like a safety net or a warm embrace, making customers feel valued, understood, and cared for. It nurtures a positive environment, encouraging customers to return, not out of necessity, but a genuine affinity towards the brand.

Implementation Steps:

Real Stories: Share testimonials and experiences, both shiny and shaded, to build credibility and show authenticity.
Open Conversation: Encourage and welcome customer feedback and discussions, facilitating a two-way conversation that fosters understanding and improvement.
Community Engagement: Actively participate and engage in community or industry events, align your brand with genuine causes and values, promoting real connections and trust.

Navigating through this law involves cultivating a space where authenticity leads, trust blossoms, and genuine relationships flourish, engraving a memorable brand story in the hearts and minds of the customers.

Guarantee Your Success With These Foundational Laws

Navigating through the world of business is a demanding odyssey that calls for more than just adaptability and innovation—it requires a solid foundation built on timeless principles. In our exploration, we have just unraveled three indispensable laws that stand as pillars supporting the edifice of sustained marketing success, enabling businesses to sail confidently through the ever-shifting seas of the marketplace.

Law 1: “Success in Marketing is a Marathon, Not a Sprint,” advocates for the cultivation of a long-term vision. It is about nurturing a resilient mindset focused on enduring success rather than transient achievements. Like a marathon runner who paces themselves for the long haul, businesses must strategize, persevere, and adapt, ensuring sustained growth and innovation. The embodiment of this law is seen in enterprises like Apple, whose evolutionary journey is a testament to the power of persistent vision and continual reinvention.

Law 2: “Survey, Listen, and Serve,” delineates the roadmap to a business model deeply intertwined with customer insights and responsiveness. This law emphasizes the essence of customer-centricity, urging businesses to align their strategies and offerings with the preferences and expectations of their audiences. It’s a call to attentively listen, actively engage, and meticulously tailor offerings to resonate with customer needs, forging paths to enhanced satisfaction and loyalty.

Law 3: “Build Trust in Every Interaction,” underscores the significance of building genuine, trust-laden relationships with customers. It champions the cultivation of a brand personality that resonates with authenticity, fostering connections marked by trust and mutual respect. This law navigates businesses towards establishing themselves as reliable entities that customers can resonate with, rely on, and return to, enriching the customer journey with consistency and sincerity.

These pivotal laws form the cornerstone upon which businesses can build strategies that withstand the tests of market volatility, competition, and evolution. They stand as unwavering beacons guiding enterprises towards avenues marked by not just profitability, but also a legacy of value, integrity, and impactful contributions to the marketplace. Armed with these foundational laws, businesses are empowered to navigate the multifaceted realms of the business landscape with confidence, clarity, and a strategic vision poised for lasting success and remarkable achievements.

Oh yeah! And do you know Newton’s Law?The law of inertia, also known as Newton’s first law of motion, states that an object at rest will stay at rest, and an object in motion will stay in motion… The choice is yours. Take action and integrate these laws. Get in motion!

Source link

MARKETING

Intro to Amazon Non-endemic Advertising: Benefits & Examples

Published

4 days ago

December 4, 2023

Entireweb News Bot

Intro to Amazon Non-endemic Advertising: Benefits & Examples

Amazon has rewritten the rules of advertising with its move into non-endemic retail media advertising. Advertising on Amazon has traditionally focused on brands and products directly sold on the platform. However, a new trend is emerging – the rise of non-endemic advertising on this booming marketplace. In this article, we’ll dive into the concept of non-endemic ads, their significance, and the benefits they offer to advertisers. This strategic shift is opening the floodgates for advertisers in previously overlooked industries.

While endemic brands are those with direct competitors on the platform, non-endemic advertisers bring a diverse range of services to Amazon’s vast audience. The move toward non-endemic advertising signifies Amazon’s intention to leverage its extensive data and audience segments to benefit a broader spectrum of advertisers.

Endemic vs. Non-Endemic Advertising

Let’s start by breaking down the major differences between endemic advertising and non-endemic advertising…

Endemic Advertising

Endemic advertising revolves around promoting products available on the Amazon platform. With this type of promotion, advertisers use retail media data to promote products that are sold at the retailer.

Non-Endemic Advertising

In contrast, non-endemic advertising ventures beyond the confines of products sold on Amazon. It encompasses industries such as insurance, finance, and services like lawn care. If a brand is offering a product or service that doesn’t fit under one of the categories that Amazon sells, it’s considered non-endemic. Advertisers selling products and services outside of Amazon and linking directly to their own site are utilizing Amazon’s DSP and their data/audience segments to target new and relevant customers.

7 Benefits of Running Non-Endemic Ad Campaigns

Running non-endemic ad campaigns on Amazon provides a wide variety of benefits like:

Access to Amazon’s Proprietary Data: Harnessing Amazon’s robust first-party data provides advertisers with valuable insights into consumer behavior and purchasing patterns. This data-driven approach enables more targeted and effective campaigns.

Increased Brand Awareness and Revenue Streams: Non-endemic advertising allows brands to extend their reach beyond their typical audience. By leveraging Amazon’s platform and data, advertisers can build brand awareness among users who may not have been exposed to their products or services otherwise. For non-endemic brands that meet specific criteria, there’s an opportunity to serve ads directly on the Amazon platform. This can lead to exposure to the millions of users shopping on Amazon daily, potentially opening up new revenue streams for these brands.

No Minimum Spend for Non-DSP Campaigns: Non-endemic advertisers can kickstart their advertising journey on Amazon without the burden of a minimum spend requirement, ensuring accessibility for a diverse range of brands.

Amazon DSP Capabilities: Leveraging the Amazon DSP (Demand-Side Platform) enhances campaign capabilities. It enables programmatic media buys, advanced audience targeting, and access to a variety of ad formats.

Connect with Primed-to-Purchase Customers: Amazon’s extensive customer base offers a unique opportunity for non-endemic advertisers to connect with customers actively seeking relevant products or services.

Enhanced Targeting and Audience Segmentation: Utilizing Amazon’s vast dataset, advertisers can create highly specific audience segments. This enhanced targeting helps advertisers reach relevant customers, resulting in increased website traffic, lead generation, and improved conversion rates.

Brand Defense – By utilizing these data segments and inventory, some brands are able to bid for placements where their possible competitors would otherwise be. This also gives brands a chance to be present when competitor brands may be on the same page helping conquest for competitors’ customers.

How to Start Running Non-Endemic Ads on Amazon

Ready to start running non-endemic ads on Amazon? Start with these essential steps:

Familiarize Yourself with Amazon Ads and DSP: Understand the capabilities of Amazon Ads and DSP, exploring their benefits and limitations to make informed decisions.

Look Into Amazon Performance Plus: Amazon Performance Plus is the ability to model your audiences based on user behavior from the Amazon Ad Tag. The process will then find lookalike amazon shoppers with a higher propensity for conversion.

“Amazon Performance Plus has the ability to be Amazon’s top performing ad product. With the machine learning behind the audience cohorts we are seeing incremental audiences converting on D2C websites and beating CPA goals by as much as 50%.”

– Robert Avellino, VP of Retail Media Partnerships at Tinuiti

Understand Targeting Capabilities: Gain insights into the various targeting options available for Amazon ads, including behavioral, contextual, and demographic targeting.

Command Amazon’s Data: Utilize granular data to test and learn from campaign outcomes, optimizing strategies based on real-time insights for maximum effectiveness.

Work with an Agency: For those new to non-endemic advertising on Amazon, it’s essential to define clear goals and identify target audiences. Working with an agency can provide valuable guidance in navigating the nuances of non-endemic advertising. Understanding both the audience to be reached and the core audience for the brand sets the stage for a successful non-endemic advertising campaign.

Conclusion

Amazon’s venture into non-endemic advertising reshapes the advertising landscape, providing new opportunities for brands beyond the traditional ecommerce sphere. The blend of non-endemic campaigns with Amazon’s extensive audience and data creates a cohesive option for advertisers seeking to diversify strategies and explore new revenue streams. As this trend evolves, staying informed about the latest features and possibilities within Amazon’s non-endemic advertising ecosystem is crucial for brands looking to stay ahead in the dynamic world of digital advertising.

We’ll continue to keep you updated on all things Amazon, but if you’re looking to learn more about advertising on the platform, check out our Amazon Services page or contact us today for more information.

Source link