Connect with us

MARKETING

What Advertisers Need to Know

Published

on

What Advertisers Need to Know

With over nine million marketplace sellers across Amazon, it’s becoming increasingly difficult for brands to stand out—even as today’s consumers shop online more every day. And if you’re not actively engaging and re-engaging your potential customers, your competitors will be.

The good news? Advertising to the audiences available within the Amazon Demand-Side Platform (DSP) can help increase your brand awareness both on and off Amazon, reaching new and existing audiences. Through Amazon’s DSP, you can keep your brand messaging consistent with a full-funnel strategy. And its capabilities are only amplified when leveraging it in conjunction with Amazon Marketing Cloud.
 

In this article, we’ll cover:

 

 
Amazon DSP — also known as the Amazon Demand-Side Platform — enables advertisers to programmatically buy video, audio, and display ad placements, using available data to target consumers on and off of Amazon.

Advertisers are increasing investment in Amazon DSP, which allows brands to use Amazon’s incredible targeting capabilities in showing ads not only on Amazon owned-and-operated web properties, but also those that it does not control.

Source: https://content-na1.emarketer.com/programmatic-advertiser-explainer

You can use Amazon DSP to reach audiences on:

  • Amazon website
  • Fire TV
  • IMDb
  • Freedive (IMDb Streaming)
  • Kindle
  • Apps
  • Published Partners
  • Twitch
  • Third Party Exchanges
  • Digital Signage Ads

Looking at recent data from Tinuiti’s Q3 2022 Amazon Ads Benchmark Report, investment in DSP was on the rise QoQ thanks in part to the video capabilities of DSP, and an overall investment increase to boost Prime Day sales.

Line chart showing Amazon DSP Spend and Impressions rising in 2022 while CPM decreases

Source: https://tinuiti.com/content/research/amazon-ads-benchmark-report-q3-2022/

The report found:

  • Outside of the Ad Console, advertisers also ramped up investment in the Amazon Demand-Side Platform (DSP) in Q3, with spend growth soaring from 11% in Q2 to 35% in Q3. Prime Day was a key reason for the acceleration, as brands not only spent big during the event, but also advertised more in the leadup to Prime Day to build awareness and consideration, as well as after the sale in order to retarget shoppers
  •  

  • Video continues to become a more important part of advertiser investment in the Amazon DSP, with spend share attributed to video ads up from 5% in Q1 2022 to 9% in Q3 2022. The share of spend attributed to connected televisions has also increased throughout the year, up from 4% in Q1 to 6% in Q3
  •  

  • In Q3 2022, 58% of Amazon DSP spend and 46% of impressions went to properties owned and operated by Amazon, including the primary Amazon website and app as well as other sites like IMDb

 

New & Notable Updates to Amazon DSP—Twitch Display Inventory

As with all things Amazon, they are continually working to improve and expand the options for the DSP. Although Twitch audiences have been available within the AMZ DSP for a while, Twitch display inventory is a more recent addition that just dropped in December 2022.

Screenshots of Amazon DSP ads on Twitch Stream and Twitch search results page

Source: https://advertising.amazon.com/resources/whats-new/twitch-display-inventory-amazon-dsp

As noted in Amazon’s announcement, “advertisers can incorporate Twitch into their web display campaigns as non-guaranteed open auction inventory,” which includes Twitch’s Stream Display and Standard Display ad inventory.

  • Stream Display: These 728×90 ad creative units display below Twitch’s video player
  • Standard Display: These 728×90 and 300×250 ad units are served on Twitch browse pages

Twitch content and usage is only continuing to grow, meaning there is a large and expanding audience available to target. Audiences can be built within the AMZ DSP from Twitch streaming content to engage with users based on channels, genres, and games with a 30-day lookback window.

As Stuart Dooley, Sr. Manager, Marketplaces at Tinuiti shared in his top takeaways from Amazon unBoxed 2022:

“Amazon continues to grow the Twitch audience—and the reach that Twitch has—making it an important avenue to consider adding to your marketing mix, helping ensure the right advertisers are being served to the right audience at the right time and location.”

 

Amazon DSP vs. Sponsored Display

Most brands using Amazon DSP are also running full-funnel Sponsored Ads campaigns, to include Sponsored Products, Sponsored Brands, and Sponsored Display. While DSP and Sponsored Display share some similarities, they function differently, and can help in achieving complementary goals.

Key similarities and differences include:

  • Placements: Both DSP and Sponsored Display ads can reach prospective customers through display advertising, on and off Amazon. Where DSP gains an edge is in its more advanced custom creative capabilities and available placements. In addition to display ads, video and audio placements are also part of DSP, helping you reach the widest potential audience
  •  

  • Pricing Model: Amazon DSP ad costs are based on a CPM model (cost per 1K impressions). While CPM is an option for Sponsored Display ads, these are typically run on a cost-per-click (CPC) model. This makes sense considering many DSP ads (ie. audio ads) aren’t clickable, but serve an important role in building awareness
  •  

  • Availability: Amazon DSP can be used by brands selling on Amazon, as well as brands who aren’t selling on Amazon, but who want to leverage Amazon insights in their targeting. Sponsored Display ads are only available to Amazon sellers and vendors. That said, SD presents an incredible opportunity for advertisers to access Amazon’s valuable display inventory without the higher requirements of DSP
  •  

  • Where Ads Direct Shoppers: Sponsored Display ads can only be set to direct to pages on Amazon.com. DSP ads, however, can lead prospective customers to pages on Amazon.com, or their own brand website

 

 
Amazon DSP is available as a managed or self-service option, with ad costs varying by ad format and placement. As noted by Amazon, the managed DSP option, which is handled by Amazon’s internal team, “typically requires a minimum spend of $50,000 USD.” With this minimum in mind, many advertisers choose the self-service DSP route.
 

Self-Service DSP Requires an Agency Partner

It’s important to note that unlike Sponsored Products, Sponsored Brands, or Sponsored Display ads, leveraging DSP requires that you work with an Amazon Ads Agency Partner like Tinuiti. This makes them less fully self-service than other ad types that brands can opt to run on their own or through an agency, but doesn’t require the hefty minimum spend of having Amazon manage your DSP campaigns.

 

 

Image showing one of the potential placement locations for a DSP display ad on Amazon's website

Source: Amazon.com

Amazon DSP is available to brands who sell products on Amazon (vendors and third-party sellers), as well as those who don’t sell on the platform. It is currently available in more than a dozen countries, including the US, Canada, and Mexico in North America.

Amazon DSP is best for brands who want to:

  • Programmatically buy display, audio & video ads at scale
  •  

  • Expand their customer reach beyond by utilizing Amazon audiences and placements
  •  

  • Leverage Amazon Audiences, but cannot sell their product through Amazon

 

 
It’s becoming increasingly difficult to have any marketing conversation without a primary topic being first-party data. By now, we all understand the importance and value of privacy-compliant 1P data, and are always looking for new ways to both collect and leverage it. And as for which retailers have the largest quality and sheer quantity of first-party data to work with, Amazon is very high on the list.

‘Amazon Shoppers’ is probably as close to ‘everyone’ as it gets in advertising.

DSP enables advertisers to reliably reach their desired audience among Amazon shoppers—both on Amazon, and off—thanks to Amazon’s wealth of shopper data and targeting features. Advertisers can target Amazon shoppers based on key demographics, interests, shopping behaviors, specific geos, and more. Who is included in ‘Amazon’s shoppers?’ Just about everyone reading this.

According to stats shared by Amazon, they have 300+ million active customer accounts, and “Amazon Advertising reaches 96% of all U.S. adults ages 25-54 every month.”
 

 
Amazon offers audience insights to help advertisers understand their audience based on:

  • Demographic trends
  • Temporal trends
  • Brand engagement

With this information, you can add demographic targeting into your upper-funnel strategies, such as targeting a specific age group. This can be especially helpful if you have a limited budget and need to limit your audience reach.
 

Prospecting with DSP audiences

There are two different ways to use audiences on DSP:

1. Advertiser Audience (aka using your company’s first-party data)

This is a great choice if you already have a lot of data on your customers and prospects. By using pixels, DMP audience transfers, and/or CRM data, you can reach Amazon customers who have already engaged with your brand.

For example, you can:

  1. Upload a list of customer or prospect emails into DSP and run a targeting strategy off of that audience
  2. If you place a pixel on your site for retargeting, you can also create a lookalike audience based off of that pixel

2. Amazon Audiences

Amazon’s Audience Solutions let you target audiences based on demographic information—including age, income, or education level—as well as their interests and behaviors.

Image titled “Behavioral Targeting: Unique Amazon Audiences” containing Lifecycle segments (upper funnel), in-market segments (middle funnel), and Retargeting (bottom funnel)

Source: https://tinuiti.com/content/webinars/a-performance-based-approach-to-amazon-dsp/

For behavioral targeting campaigns, Amazon Audiences segments include:

  1. Lifestyle segments that reflect broad interest groups (such as homeowners)
  2.  

  3. In-market segments based on what customers have recently searched for or browsed
  4.  

  5. Retargeting segments made up of Amazon shoppers who have viewed but not purchased your products

Conquesting campaigns can even be leveraged by targeting customers looking at competitor ASINs/products.

example of conquesting AMZ Display Evenflo ad on a Graco PDP

Source: Amazon.com

Amazon Audiences is one of the biggest benefits of using Amazon’s DSP. Using audience insights helps you understand how and when your audience shops, which in turn makes it easier for you to build out retargeting campaigns based on your audience’s data and behavior.

Amazon DSP enables brands to target a wider range of potential customers referred to as “in-market” or “lifestyle” shoppers.

In-market Audiences are leveraged to reach customers who are most likely to take action or make a purchase based on their search, browse, or purchase behavior in the past 30 days.

Examples might include shoppers who recently perused or purchased:

  • “Nutrition Bars”
  • “Baby Apparel”
  • “Headphones”

Lifestyle audiences reflect broader interest groups. Advertisers can reach lifestyle audiences to plant their brand in the minds of shoppers who have regularly shopped for related products in the past year.

Examples might include targeting:

  • “Foodies”
  • “Harry Potter Fans”
  • “Pet Lovers”

 

Custom Audience Building

The ability to build custom audiences in DSP is another major distinguishing factor from Sponsored Display. Advertisers can target an array of unique audiences based on available shopper data. This can include audiences based on how shoppers have interacted with your brand, or their behavior in regard to products related to yours on Amazon.

DSP also gives advertisers the opportunity to reach audiences based on very specific behavior. For example, in October 2021, Amazon DSP launched the ability to Create custom-built audiences using Store interactions. And in November 2021, Amazon Ads launched their first “physical store signal” in the DSP, enabling US advertisers to Create custom-built audiences using Whole Foods Market physical store purchases. Think of how these audiences might benefit your brand, and what ASINs you’d want to include in campaigns for each.

Creating custom audiences gives advertisers a chance to really dive into the data, and strategically experiment with new audiences based on their findings. This is where experience and expertise come into play, helping to spot opportunities and unique angles to approach them.
 

Retargeting

Brands can use DSP to re-engage shoppers that have high purchase intent for your products in a few ways, retargeting shoppers who:

  • Pixel-based – Visit your brand’s site
  • Product view remarketing – Viewed a product detail page of selected ASINs
  • Product purchase remarketing – Purchased selected product(s)
  • Similar product remarketing – Browse products similar to yours
  • Subscribe and Save – Targeting consumers who have active subscribe and save for selected product(s)

 

 
Through Amazon DSP, you can programmatically reach your audiences across both Amazon’s own sites and apps (like IMDb) and leading publishers’ sites. Here’s how Amazon ads fit throughout the funnel:

Marketing funnel illustration with Amazon DSP providing awareness, consideration, purchase intent, and purchase experience

Ad Console campaigns mostly cover the mid- to low portion of the funnel. These campaigns work towards driving purchases, while DSP works throughout the whole advertising funnel from awareness to purchase. Having the capability to retarget customers through DSP keeps your brand top-of-mind for prospects and previous customers.

In this post, we’ll focus specifically on the mid-and upper-funnel advertising strategy: the consideration and awareness buckets. The targeting strategies we’ll cover work for businesses that sell both on and off Amazon. These upper-funnel campaigns will ultimately help you fill your retargeting campaigns and grow the number of people you target at the bottom of the funnel.

“When advertisers see a retargeting ROAS that has plateaued, we often recommend considering a full-funnel Amazon strategy. This allows for increased scale, reaching consumers who are interested or “in-market” but not necessarily dedicated to a specific brand. Those consumers are then led down the funnel to help fuel the audience pool for future retargeting efforts.” 

Portrait of Natalie SamsonNatalie Samson, Marketplaces DSP Senior Manager at Tinuiti
 

 
Now that you know how to target the right audience, it’s time to create some ads. Here are four main ad types available to your brand through DSP.
 

1. Responsive eCommerce Creative (REC)

Responsive eCommerce Creative first became available to all advertisers on Amazon DSP in January 2021, and has grown to be a very popular ad type. When creating an REC, advertisers can place up to 20 different ASINs into the build, and choose up to 10 different supported ad sizes that will auto-populate based on line item goal type and ad format.

These ads allow for easy ad creation and machine learning optimization. If a product goes out-of-stock, RECs will automatically pause that ASIN in the list and auto-populate based on the other listed ASINs.

Product listing for illy Coffee on Amazon.com

Source: Amazon.com

Note: Dynamic eCommerce Ads (DEA) are no longer supported and have been replaced by Responsive eCommerce Creative (REC).
 

2. Static ads

R+Co static ad on Amazon

Source: Amazon.com

Static ads don’t have any dynamic elements, so they need specific calls-to-action, like “Shop Now.” We recommend using these ads as mid- and upper-funnel tactics to draw shoppers in and help grow brand awareness. These ads lead back to an Amazon storefront, product detail page, or custom landing page.
 

3. Video ads through DSP

Video is a great way to tell your brand story and create an emotional connection with your audience. Video ads through DSP can run within video content (in-stream video) or as part of a display ad (out-stream video). You can link your video ads through DSP to a product detail page on Amazon or to your own site. Creating video ads through DSP also means you can leverage Amazon’s audiences to target the right shoppers.
 

4. Over-the-top video ads (OTT)

Amazon’s OTT ads also run on the DSP platform. These non-skippable, full-screen ads are a great way to reach millions of people on connected TV sources (like the Amazon Fire TV Stick). You can target specific Amazon audiences, but keep in mind that these ads are not clickable.
 

 
illustration of upper funnel marketing labeled awareness and consideration

Before you dive into the upper-funnel strategies, make sure that your product is retail-ready, ensuring your:

We also recommend running Ad Console campaigns for branded searches at the same time. If your DSP efforts work, and you increase your brand awareness, you will also see an increase in branded searches.

Not every product has a budget for a full-funnel approach and not every product makes sense to run year-round, full-funnel strategy. That said, you need to make sure you have an always-on approach to retargeting, then layer in mid- to upper-funnel efforts as needed.
 

 

Bar chart titled “Areas Where US Agencies/Media Owners Expect to Increase Expenditure, May 2022” with measurement and DSP services in the top three

Source: https://chart-na1.emarketer.com/257725/areas-where-us-agenciesmedia-owners-expect-increase-expenditure-may-2022-of-respondents

Amazon Marketing Cloud—Amazon’s data clean room solution—provides advertisers with a wealth of data they can leverage in building their strategies and scaling their campaigns. AMC gives you everything you need to see success—once you take the time to learn how to really use it to help in uncovering the insights that would otherwise be unavailable.

As we all know, Amazon offers full-funnel advertising options, but before Amazon Marketing Cloud was launched, it wasn’t easy to understand (and act upon) the ways in which all those options were working together, and influencing each other’s performance. AMC helps advertisers analyze the full picture of their Amazon performance across all marketing avenues.

As a privacy-safe repository for all available data—including your own uploaded data (CRM data, in-store sales, etc.), DSP data, and data from your Sponsored Products, Sponsored Brands, and/or Sponsored Display campaigns—AMC provides that much-needed holistic understanding of what is working, what isn’t, and what the next steps should be.

AMC offers:

  • Performance Insights
  • Journey Analysis
  • Audience Insights
  • Media Analysis

As Maddie Barton, Director of Marketplace Programmatic at Tinuiti, shared in a recent interview for Amazon’s blog

“You are better positioned to tap into the full potential of AMC if you use sponsored ads as well as Amazon DSP. You can use the signals in AMC to bridge those ad types and develop an insight-backed narrative to shed light on connections between the two.”

How Amazon Marketing Cloud Works infographic

Aly Fields and Mike Cooper also shed a bright light on the topic in a recent webinar—A Performance-Based Approach to Amazon DSP.

Aly Fields and Mike Cooper lead Amazon DSP webinar

Some key takeaways from their information-packed webinar include:

  • AMC is the answer to, “How is everything working together?” The measurement issue has historically been that Amazon Seller Central and Amazon DSP are separate platforms, and data is not shared between them. This meant that when running both Search and DSP ads, a clear understanding into how the two were working together wasn’t available pre-AMC
  •  

  • AMC helps determine if things are working as intended so you can adjust when and where necessary. AMC brings a richer understanding of your media mix performance, helping you answer those simple questions that matter most, like whether your awareness campaigns are actually resulting in consideration further down the funnel
  •  

  • AMC helps answer previously unanswerable questions…with the right query as its prompt. When seeking an answer from AMC, you must first start with a digestible query. AMC offers a pre-loaded query library to choose from, but custom queries can also be created. For examples of custom queries we’ve created for our clients—and the results those queries helped us achieve—see our comprehensive guide to the Amazon Marketing Cloud. You’ll also find more information there about the custom AMC reports Tinuiti teams are able to create for clients, including our Media Mix Analysis, Tentpole Event Analysis, and New-to-Brand reports

 
Want more information on AMC? Check out the below:

Amazon Marketing Cloud 101: How to Revolutionize Your Marketplace Capabilities
Demystifying Amazon Marketing Cloud’s Attribution Model
Behind the Numbers podcast episode with Nirish Parsad and Aly Fields
 

 
When R+Co first launched on Amazon their products quickly flew off the shelves. They were operationally healthy and had amazing reviews, but things began to slow down a bit over time.

The Tinuiti and R+Co teams had to go back to the drawing board and ask themselves:

  • What is it that we’re not doing?
  • What should we be folding into our advertising strategy to continue to see this growth on Amazon?

The answers to those questions led to investing more heavily in R+Co’s branding to take full advantage of the real estate on Amazon where they could showcase their creativity and brand story. With Amazon Stores being microsites that allow brands to create a customized experience within Amazon, the next steps were clear, and the Tinuiti team began designing and building out R+Co’s Amazon Store.

amazon dsp

R+Co already had high brand awareness from selling across other platforms, but wanted to make sure they showed up for relevant searches within Amazon — whether a shopper included their brand name or not.

With that buttoned-up, R+Co worked with Tinuiti to layer in a more full-funnel Amazon DSP strategy. Once fully implemented, R+Co saw the following performance increases:

  • Detail page views by 85%
  • Units sold by 70%
  • Total sales by 48%
  • Return on ad spend (ROAS) by 36%

 

 

Tinuiti and Poppi Amazon case study

Source: https://tinuiti.com/case-study/retail-media-case-study-poppi/

When Poppi started working with Tinuiti, they already had one of the most essential components for success working in their favor: a high-quality, enjoyable product that fills a very real gap in the CPG space. Understanding consumers’ love of the sparkling, sugary sweetness that keeps them sipping traditional soda brands, Poppi set out to create a prebiotic-packed alternative that satisfied palates without the empty calories or chemicals.

Among Poppi’s priorities was better understanding the impact their Amazon media was having across the full marketing landscape—particularly, the in-store impact at Whole Foods stores.

Here’s how we approached their strategy, and answering that question:

  • Build Awareness: Capitalizing on the “new year, new you” trend popular amongst advertisers at year-end, Tinuiti leveraged Streaming TV and video assets to introduce new customers to the Poppi brand at a time when many folks are preparing to make health-focused updates to their diet. Awareness strategies continued into the new year, nurtured by repeated exposure with Amazon DSP and Sponsored Products ads, helping increase brand familiarity and trust
  •  

  • Track Key Metrics: AMC enabled Tinuiti to track certain metrics, including in-store sales, that were previously untrackable. With these insights available, we could see how many Whole Foods purchases were supported through Amazon media exposure
  •  

  • Building Loyalty from the First Sip – One Can at a Time: Remember that delicious product that Poppi offers? As it turns out, once people are aware of it and try it, they’re big fans! One month after being exposed to Poppi’s Amazon media campaign, Whole Foods customers converted over 1,100%

“Amazon’s Marketing Cloud (AMC) is providing new signals that help Poppi see a longer string of attribution across a complex multitouch media system. We love seeing a more complete picture of what ultimately drives customer acquisition and Tinuiti has been an incredible partner in not only understanding all AMC capabilities, but also how to put those insights into action.”

Graham Goeppert, VP of Digital Commerce & Media, Poppi

Poppi’s Amazon media campaign resulted in (January 2022 – July 2022):

  • 1,640% increase in new-to-brand customers
  • 4,730% increase in Whole Foods attributed purchases
  • 1,100% increase in Whole Foods customers converted after 1st month

 

Conclusion

Now you’re ready to start using Amazon DSP to fill your marketing funnel and improve your customer acquisition.

As a reminder, here’s your order of operations:

  1. Set goals for your DSP ads
  2. Identify your audiences
  3. Choose strategic placements
  4. Build out and execute your campaign
  5. Analyze and optimize
  6. Do it all again!

 
Interested in learning more about Amazon DSP? Contact us today for more information, and be sure to register for our 2-day 2023 Commerce Summit, with info-packed sessions on Wednesday, February 15, 2023 and Wednesday, February 22, 2023.
 

Source link

Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address

MARKETING

Why The Sales Team Hates Your Leads (And How To Fix It)

Published

on

Why The Sales Team Hates Your Leads (And How To Fix It)

Why The Sales Team Hates Your Leads And How To

You ask the head of marketing how the team is doing and get a giant thumbs up. 👍

“Our MQLs are up!”

“Website conversion rates are at an all-time high!”

“Email click rates have never been this good!”

But when you ask the head of sales the same question, you get the response that echoes across sales desks worldwide — the leads from marketing suck. 

If you’re in this boat, you’re not alone. The issue of “leads from marketing suck” is a common situation in most organizations. In a HubSpot survey, only 9.1% of salespeople said leads they received from marketing were of very high quality.

Why do sales teams hate marketing-generated leads? And how can marketers help their sales peers fall in love with their leads? 

Let’s dive into the answers to these questions. Then, I’ll give you my secret lead gen kung-fu to ensure your sales team loves their marketing leads. 

Marketers Must Take Ownership

“I’ve hit the lead goal. If sales can’t close them, it’s their problem.”

How many times have you heard one of your marketers say something like this? When your teams are heavily siloed, it’s not hard to see how they get to this mindset — after all, if your marketing metrics look strong, they’ve done their part, right?

Not necessarily. 

The job of a marketer is not to drive traffic or even leads. The job of the marketer is to create messaging and offers that lead to revenue. Marketing is not a 100-meter sprint — it’s a relay race. The marketing team runs the first leg and hands the baton to sales to sprint to the finish.

​​

via GIPHY

To make leads valuable beyond the vanity metric of watching your MQLs tick up, you need to segment and nurture them. Screen the leads to see if they meet the parameters of your ideal customer profile. If yes, nurture them to find out how close their intent is to a sale. Only then should you pass the leads to sales. 

Lead Quality Control is a Bitter Pill that Works

Tighter quality control might reduce your overall MQLs. Still, it will ensure only the relevant leads go to sales, which is a win for your team and your organization.

This shift will require a mindset shift for your marketing team: instead of living and dying by the sheer number of MQLs, you need to create a collaborative culture between sales and marketing. Reinforce that “strong” marketing metrics that result in poor leads going to sales aren’t really strong at all.  

When you foster this culture of collaboration and accountability, it will be easier for the marketing team to receive feedback from sales about lead quality without getting defensive. 

Remember, the sales team is only holding marketing accountable so the entire organization can achieve the right results. It’s not sales vs marketing — it’s sales and marketing working together to get a great result. Nothing more, nothing less. 

We’ve identified the problem and where we need to go. So, how you do you get there?

Fix #1: Focus On High ROI Marketing Activities First

What is more valuable to you:

  • One more blog post for a few more views? 
  • One great review that prospective buyers strongly relate to?

Hopefully, you’ll choose the latter. After all, talking to customers and getting a solid testimonial can help your sales team close leads today.  Current customers talking about their previous issues, the other solutions they tried, why they chose you, and the results you helped them achieve is marketing gold.

On the other hand, even the best blog content will take months to gain enough traction to impact your revenue.

Still, many marketers who say they want to prioritize customer reviews focus all their efforts on blog content and other “top of the funnel” (Awareness, Acquisition, and Activation) efforts. 

The bottom half of the growth marketing funnel (Retention, Reputation, and Revenue) often gets ignored, even though it’s where you’ll find some of the highest ROI activities.

1716755163 123 Why The Sales Team Hates Your Leads And How To1716755163 123 Why The Sales Team Hates Your Leads And How To

Most marketers know retaining a customer is easier than acquiring a new one. But knowing this and working with sales on retention and account expansion are two different things. 

When you start focusing on retention, upselling, and expansion, your entire organization will feel it, from sales to customer success. These happier customers will increase your average account value and drive awareness through strong word of mouth, giving you one heck of a win/win.

Winning the Retention, Reputation, and Referral game also helps feed your Awareness, Acquisition, and Activation activities:

  • Increasing customer retention means more dollars stay within your organization to help achieve revenue goals and fund lead gen initiatives.
  • A fully functioning referral system lowers your customer acquisition cost (CAC) because these leads are already warm coming in the door.
  • Case studies and reviews are powerful marketing assets for lead gen and nurture activities as they demonstrate how you’ve solved identical issues for other companies.

Remember that the bottom half of your marketing and sales funnel is just as important as the top half. After all, there’s no point pouring leads into a leaky funnel. Instead, you want to build a frictionless, powerful growth engine that brings in the right leads, nurtures them into customers, and then delights those customers to the point that they can’t help but rave about you.

So, build a strong foundation and start from the bottom up. You’ll find a better return on your investment. 

Fix #2: Join Sales Calls to Better Understand Your Target Audience

You can’t market well what you don’t know how to sell.

Your sales team speaks directly to customers, understands their pain points, and knows the language they use to talk about those pains. Your marketing team needs this information to craft the perfect marketing messaging your target audience will identify with.

When marketers join sales calls or speak to existing customers, they get firsthand introductions to these pain points. Often, marketers realize that customers’ pain points and reservations are very different from those they address in their messaging. 

Once you understand your ideal customers’ objections, anxieties, and pressing questions, you can create content and messaging to remove some of these reservations before the sales call. This effort removes a barrier for your sales team, resulting in more SQLs.

Fix #3: Create Collateral That Closes Deals

One-pagers, landing pages, PDFs, decks — sales collateral could be anything that helps increase the chance of closing a deal. Let me share an example from Lean Labs. 

Our webinar page has a CTA form that allows visitors to talk to our team. Instead of a simple “get in touch” form, we created a drop-down segmentation based on the user’s challenge and need. This step helps the reader feel seen, gives them hope that they’ll receive real value from the interaction, and provides unique content to users based on their selection.

1716755163 298 Why The Sales Team Hates Your Leads And How To1716755163 298 Why The Sales Team Hates Your Leads And How To

So, if they select I need help with crushing it on HubSpot, they’ll get a landing page with HubSpot-specific content (including a video) and a meeting scheduler. 

Speaking directly to your audience’s needs and pain points through these steps dramatically increases the chances of them booking a call. Why? Because instead of trusting that a generic “expert” will be able to help them with their highly specific problem, they can see through our content and our form design that Lean Labs can solve their most pressing pain point. 

Fix #4: Focus On Reviews and Create an Impact Loop

A lot of people think good marketing is expensive. You know what’s even more expensive? Bad marketing

To get the best ROI on your marketing efforts, you need to create a marketing machine that pays for itself. When you create this machine, you need to think about two loops: the growth loop and the impact loop.

1716755163 789 Why The Sales Team Hates Your Leads And How To1716755163 789 Why The Sales Team Hates Your Leads And How To
  • Growth loop — Awareness ➡ Acquisition ➡ Activation ➡ Revenue ➡ Awareness: This is where most marketers start. 
  • Impact loop — Results ➡ Reviews ➡ Retention ➡ Referrals ➡ Results: This is where great marketers start. 

Most marketers start with their growth loop and then hope that traction feeds into their impact loop. However, the reality is that starting with your impact loop is going to be far more likely to set your marketing engine up for success

Let me share a client story to show you what this looks like in real life.

Client Story: 4X Website Leads In A Single Quarter

We partnered with a health tech startup looking to grow their website leads. One way to grow website leads is to boost organic traffic, of course, but any organic play is going to take time. If you’re playing the SEO game alone, quadrupling conversions can take up to a year or longer.

But we did it in a single quarter. Here’s how.

We realized that the startup’s demos were converting lower than industry standards. A little more digging showed us why: our client was new enough to the market that the average person didn’t trust them enough yet to want to invest in checking out a demo. So, what did we do?

We prioritized the last part of the funnel: reputation.

We ran a 5-star reputation campaign to collect reviews. Once we had the reviews we needed, we showcased them at critical parts of the website and then made sure those same reviews were posted and shown on other third-party review platforms. 

Remember that reputation plays are vital, and they’re one of the plays startups often neglect at best and ignore at worst. What others say about your business is ten times more important than what you say about yourself

By providing customer validation at critical points in the buyer journey, we were able to 4X the website leads in a single quarter!

1716755164 910 Why The Sales Team Hates Your Leads And How To1716755164 910 Why The Sales Team Hates Your Leads And How To

So, when you talk to customers, always look for opportunities to drive review/referral conversations and use them in marketing collateral throughout the buyer journey. 

Fix #5: Launch Phantom Offers for Higher Quality Leads 

You may be reading this post thinking, okay, my lead magnets and offers might be way off the mark, but how will I get the budget to create a new one that might not even work?

It’s an age-old issue: marketing teams invest way too much time and resources into creating lead magnets that fail to generate quality leads

One way to improve your chances of success, remain nimble, and stay aligned with your audience without breaking the bank is to create phantom offers, i.e., gauge the audience interest in your lead magnet before you create them.

For example, if you want to create a “World Security Report” for Chief Security Officers, don’t do all the research and complete the report as Step One. Instead, tease the offer to your audience before you spend time making it. Put an offer on your site asking visitors to join the waitlist for this report. Then wait and see how that phantom offer converts. 

This is precisely what we did for a report by Allied Universal that ended up generating 80 conversions before its release.

1716755164 348 Why The Sales Team Hates Your Leads And How To1716755164 348 Why The Sales Team Hates Your Leads And How To

The best thing about a phantom offer is that it’s a win/win scenario: 

  • Best case: You get conversions even before you create your lead magnet.
  • Worst case: You save resources by not creating a lead magnet no one wants.  

Remember, You’re On The Same Team 

We’ve talked a lot about the reasons your marketing leads might suck. However, remember that it’s not all on marketers, either. At the end of the day, marketing and sales professionals are on the same team. They are not in competition with each other. They are allies working together toward a common goal. 

Smaller companies — or anyone under $10M in net new revenue — shouldn’t even separate sales and marketing into different departments. These teams need to be so in sync with one another that your best bet is to align them into a single growth team, one cohesive front with a single goal: profitable customer acquisition.

Interested in learning more about the growth marketing mindset? Check out the Lean Labs Growth Playbook that’s helped 25+ B2B SaaS marketing teams plan, budget, and accelerate growth.


Disruptive Design Raising the Bar of Content Marketing with Graphic

Source link

Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address
Continue Reading

MARKETING

How to Buy Ads on Netflix: Specs & Tactics for Marketers

Published

on

How to Buy Ads on Netflix: Specs & Tactics for Marketers

Streaming


By Emily Sullivan

Netflix, the streaming giant known for binge-watching and award-winning originals, sent shockwaves through the industry in 2022 by announcing an ad-supported tier. This move was likely fueled by a desire to reach new audiences, combat rising subscription costs, and potentially even fend off competition from other OTT platforms. These ads could lead to strong growth potential with advertisers eager to tap into Netflix’s massive user base. 

If you’re unfamiliar with how Netflix works, it’s important to know that Netflix is an OTT (Over-the-Top) platform, meaning it delivers streaming content directly over the internet, bypassing traditional cable or satellite providers. It’s one of the most popular OTT platforms globally, but in the ad supported video on demand (AVOD) space, Netflix is a relative newcomer. Understanding this new facet of Netflix is crucial for marketers looking to capitalize on this advertising opportunity.

Interested in learning more about Netflix and its advertising offerings? You came to the right place. In this post, we’ll cover the foundational elements of Netflix ads including ad types, specs, advertising best practices, and more. 

Why Did Netflix Start Offering Ads?

In November 2022, Netflix introduced an ad-supported tier. This move marked a significant shift, as Netflix was previously known for its commitment to an ad-free experience. The decision likely stemmed from a desire to tap into new revenue streams. With consumers increasingly cost-conscious, an ad-supported tier provided a way to attract budget-minded viewers while still offering a premium ad-free option, similar to established AVOD providers like Hulu and Peacock.

Initially, the launch was off to a slower start, with few people signing up for the ad supported tier and Netflix failing to meet guarantees, but things are quickly turning around and savvy advertisers are taking notice. Netflix boasts a massive user base, with roughly 270 million paid subscribers – a household name with immense reach. In fact, 40% of new Netflix sign-ups are choosing the ad-supported tier, translating to a total of 40 million users. Netflix’s ad platform presents a unique opportunity for marketers looking to reach a large and engaged audience.

“Our goal isn’t just to offer the same products and tools the industry has come to expect — although we’ve made a lot of progress on that front over the last year. It’s to build something bigger and better than what exists today. We want to shape the future of advertising on Netflix and help marketers tap into the amazing fandom generated by our must-watch shows and movies.”

Amy ReinhardPresident, Advertising at Netflix

How to Start Advertising on Netflix

So, you’re interested in capitalizing on Netflix’s massive audience? Here’s a breakdown of the three main ways to buy ads on their platform:

1. Netflix Ads Manager

This platform, powered by Microsoft, allows you to directly purchase ad space on Netflix. However, be prepared to meet their minimum spending requirements, which can be substantial and offer little room for negotiation.

2. Partnering with an Agency

While the minimum spend might be high for direct buys, streaming agencies like Tinuiti can be a valuable asset. They can not only help you navigate the intricacies of Netflix advertising, but also:

  • Consolidate Streaming Data: The streaming landscape is fragmented, with viewers spread across multiple platforms. Agencies can collect data from these various platforms and turn it into a unified, actionable strategy for your advertising campaign.
  • Expertise and Negotiation: Agencies bring a wealth of experience to the table. They can leverage their knowledge of the advertising landscape and potentially negotiate more favorable terms on your behalf.

3. Ad Tech Partners

Companies like Microsoft offer ad tech solutions that provide technical capabilities to streamline your advertising efforts. These partners typically take a more hands-off approach compared to agencies, focusing on the technical aspects of ad delivery and optimization.

The best option depends on your budget, experience level, and campaign goals. If you’re a large brand with a significant budget and an in-house marketing team, going directly through Netflix Ads Manager might be a good fit. However, for most businesses, partnering with an agency or ad tech provider can offer valuable support and expertise.

Ad Types & Specs for Netflix Ads

Now that you understand the different avenues for buying ads on Netflix, let’s dive into the nitty-gritty of ad formats and specifications:

Netflix Ad Types

Example of a Netflix Ad Featuring Smartfood and Love is Blind

Currently, Netflix offers two main ad types, pre-roll ads and mid-roll ads. Netflix notes that users can expect to see a few short ads per hour and that they aim to place ads during natural plot breaks for a more seamless experience.   

Let’s take a look at each option… 

  • Pre-roll Ads: These commercials play before a program or movie begins, similar to traditional linear TV advertising.
  • Mid-roll Ads: These ads appear in the middle of a program, typically inserted during natural breaks in the content.

During paused playback, ad breaks are displayed on the progress bar. As an ad break begins, the upper-right corner reveals the number of ads included in that break.

While Netflix advertising is fairly new, the platform has made a few important announcements to look out for in 2024. Netflix plans to introduce a new binge ad format for global advertisers, offering viewers an ad-free fourth episode after watching three consecutive episodes. Additionally, QR code integration in U.S. advertising will launch early in the year. Sponsorship opportunities, including Title, Moment, and Live Sponsorships, are also now available in the U.S. and will expand globally in 2024.

Netflix also offers live opportunities including WWE Raw (launching January 2025), which will air live on Netflix 52 weeks of the year, and the NFL Christmas games which Netflix just secured the rights to. These live events provide advertisers the opportunity to reach ad and ad-free members of Netflix in a live environment with traditional ad formats.

Last but not least, Netflix recently announced they are adding Pause Ads to their suite of custom ad units. This is currently in beta and is expected to be rolled out to the general marketplace in H2 2024.

Netflix Ad Specs

When it comes to advertising specs, it’s important to follow Netflix’s guidelines which include the following… 

  • Supported Lengths: Netflix accepts ads in 10, 15, 20, 30, and 60-second durations.
  • File Format: Ads must be submitted in MP4 or MOV format.
  • Aspect Ratio & Resolution: Maintain a 16:9 aspect ratio and a resolution of either 1920×1080 HD or 1280×720 HD.
  • QR Codes on the Horizon: Netflix is preparing to support QR code integration within commercials, allowing viewers to seamlessly access additional information or promotions.

Hot Tip: Stay tuned for updates, as Netflix is constantly evolving its ad platform.

Why Advertise on Netflix?

Advertising on Netflix offers several unique advantages for advertisers including… 

  • Massive Reach – Netflix boasts a massive subscriber base worldwide (globally, there were around 270 million Netflix subscribers in Q1 2024), providing advertisers with access to a vast and diverse audience. These viewers are often highly engaged, spending significant time on the platform consuming content. In fact, Over 70% of Netflix’s ad-supported members watch for more than 10 hours a month – which is 15 percentage points higher than the nearest competitor according to Nielsen.
  • Targeting – Netflix collects extensive data on user preferences and behavior, enabling precise targeting of advertisements based on demographics, interests, viewing history, and more. This targeted approach increases the relevance and effectiveness of ads, maximizing ROI for advertisers (more on this below).
  • Global Reach and Localization – With a presence in numerous countries around the world, Netflix offers advertisers the opportunity to reach audiences on a global scale. Additionally, the platform’s localization capabilities enable tailored advertising campaigns to resonate with specific regional or cultural audiences.
  • Unskippable Ads – Unlike some streaming advertising platforms, Netflix ads are unskippable, guaranteeing your message reaches viewers.
  • Positive User Experience – Netflix prioritizes a positive user experience, so it’s unlikely viewers will see the same ad twice in a single episode. However, there’s a chance you might encounter the same ad later during your viewing session. It’s also important to note that children’s profiles maintain their ad-free experience.
  • Ad Delivery & Blocking – Since ads are delivered server-side, ad blockers are ineffective on Netflix. Additionally, playback automatically pauses if you minimize the window while an ad is playing, ensuring your message is seen.

Best Practices When Advertising on Netflix

When advertising on Netflix, it’s essential to understand the platform’s unique capabilities and audience targeting options to maximize the effectiveness of your campaigns. Check out a few best practices you need to consider… 

Explore Audience Targeting Capabilities

Netflix offers several audience targeting capabilities for advertisers on their ad-supported tier. These capabilities focus on three main areas: demographics, viewing habits, and content context. Here’s a breakdown:

Demographics:

  • Age: Advertisers can target users by age groups, like 18-34, 35+, etc.
  • Gender: Ads can be shown to specific genders (male or female).
  • Location: Targeting can be set by country or even state (in the U.S.).

Viewing Habits:

  • Genre: This lets advertisers target users based on the genres they watch, like comedy, drama, action, etc.

Content Context:

  • Top 10: Ads can be placed before or after shows and movies on Netflix’s daily Top 10 list, ensuring high visibility.

Advertisers also have the option to choose where they don’t want their ads to appear. For example, they can avoid showing ads on programs with mature themes or content that may not align with their brand values.

By using a combination of these targeting options, advertisers can reach a more precise audience interested in their product or service. This increases the ad’s relevance to viewers and potentially improves the ad campaign’s effectiveness.

It’s also important to note that Netflix now has the ability to target advertiser first party data. The platform currently has two approved DMPs: Liveramp or Adobe. Advertisers who work with either of these DMPs can upload first party data for targeting or suppression.

It’s important to note that Netflix’s ad targeting is still evolving. While it doesn’t offer some of the more advanced options found on other platforms, they are working on expanding their capabilities.

Test Your Ad Creative

Just like any other marketing campaign, testing your ad creative on Netflix is vital for optimizing performance. Here are some key reasons to test your ads:

  • Discover What Works: Testing allows you to compare different ad variations and identify which elements resonate most with your target audience. This could involve testing variations in messaging, visuals, calls to action, or even ad length.
  • Data-Driven Decisions: Testing provides valuable data and insights. You can track metrics like click-through rates, completion rates, and brand recall to see which ad versions generate the best results. Don’t rely on guesswork. Testing helps you move beyond assumptions and identify what truly connects with viewers.
  • Meet Audience Expectations: Netflix viewers anticipate premium content, including ads. Testing ad creative ensures that your commercials meet these expectations by delivering high-quality, engaging content that resonates with the audience.
  • Optimize Performance: Testing allows you to refine your ad creative to achieve optimal performance. By experimenting with different elements such as messaging, visuals, and calls to action, you can identify the most effective combinations that drive engagement and conversion.
  • Enhance Relevance: Testing helps ensure that your ad creative remains relevant to your target audience. By continuously testing and refining your approach, you can adapt to changing consumer preferences and market trends, ensuring that your ads stay impactful and resonant.
  • Maximize ROI: Effective testing enables you to make data-driven decisions that maximize ROI. By identifying and scaling the best-performing ad creative, you can allocate your advertising budget more efficiently and achieve greater results.

Measure and Analyze Your Results

Netflix doesn’t offer 1:1 conversion measurement for ad buyers (yet) – but they do have brand awareness and lift studies they offer advertisers so keep this in mind when measuring and analyzing your results. 

The platform did recently announce that this summer, Netflix will expand its buying capabilities to include The Trade Desk, Google’s Display & Video 360, and Magnite who will join Microsoft as the main programmatic partners for advertisers.

Starting in the second half of 2024, Netflix just announced that the following third party measurement partners (partnering to measure and verify the impact of advertiser campaigns) will also be added: Affinity Solutions, iSpotTV, NCSolutions, Videoamp, DCM and TVision.

They also announced Netflix will launch an in-house advertising technology platform, by the end of 2025. This will give advertisers new ways to buy, new insights to leverage, and new ways to measure impact. 

Is Netflix Advertising Right For Your Brand?

Overall, Netflix advertising offers the unparalleled reach of a massive, highly-engaged audience. This can be a strategic choice for brands seeking broad awareness and brand association with premium content.

If you’re interested in exploring advertising opportunities on Netflix for your brand, consider reaching out to the Tinuiti team. Our expertise can provide guidance and assistance in navigating the complexities of advertising on the platform, maximizing your campaign’s effectiveness and ROI. 

Don’t miss out on the opportunity to showcase your brand on one of the world’s largest streaming platforms—connect with Tinuiti today to get started.

Source link

Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address
Continue Reading

MARKETING

Xngage and HawkSearch join forces with a powerful connector

Published

on

Xngage and HawkSearch join forces with a powerful connector

The bar has been set by the industry leaders in UX and Merchandising, and our customers have stated their claim clearly – “to grow our market share, we must have an enterprise search experience that drives conversions.

Optimizely offers baseline search experiences within our commerce platform, which are designed to help companies get started with organizing and delivering SKUs to customers. These experiences utilize out-of-the-box algorithms and methods for sorting, categorizing, and customizing.

While Optimizely provides a foundation for search experiences, we knew there were users ready to take their search capabilities to the next level. This is where the Xngage and HawkSearch partnership promises to redefine how you approach search-driven experiences within Optimizely Configured Commerce. Our highly experienced partner Xngage has developed a seamless integration connector, a best-in-class accelerator for harnessing the power of HawkSearch.

The powerful partner in search

HawkSearch is known for its expertise in search-driven engagement, AI-powered product discovery, and no-code customizations. With a strong history of serving B2B customers with enterprise-level search solutions, it was a perfect choice to make HawkSearch directly available within Optimizely’s platform.

The expertise of Xngage made this connector a reality enabling Optimizely’s Configured Commerce customers to:

  • Easily plug directly into the HawkSearch service to share your products and their relevant data.
  • Utilize powerful unit of measure conversions, ensuring your customers can find exactly what they’re looking for.
  • Customize sorting and facets to deliver highly relevant results to customers.
  • Craft a personalized user experience with features like auto-complete and the new ‘instant engage’.

Customers can further explore HawkSearch’s capabilities in this on demand webinar and recap, which highlights the benefits and use cases of the Xngage connector for HawkSearch.

A powerful partner in digital growth

Xngage complements Optimizely perfectly, as they deliver robust solutions in the realm of digital content and commerce experiences. The development of the Xngage connector to HawkSearch is a part of their broader mission to empower manufacturers and distributors to serve their customers digitally. This alignment seamlessly fits with Optimizely, making our partnership with Xngage an ideal choice. 

Furthering their goal of digital growth, Xngage offers a range of holistic and complementary professional services, including:

  • User research & user experience design (UX)
  • Enterprise architecture & ERP integration
  • Product information management (PIM)
  • Ecommerce Implementations, and digital growth services.

To learn more about this highly experienced digital commerce partner visit Xngage.com.

The future of the partnership

This partnership is just the beginning. Xngage and HawkSearch are committed to working hand in hand to empower you with the tools and insights you need to elevate your ecommerce site. Stay tuned for future blogs, webinars, and resources that will help you make the most of this transformative alliance.

The future of ecommerce search has never looked more promising, and we’re excited to have you on this journey with us.

Source link

Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address
Continue Reading

Trending