Amazon Unveils Next-Gen Advertising Solutions for Enhanced Campaign Performance at UnBoxed 2024
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At unBoxed 2024, Amazon Ads announced a series of new advertising capabilities designed to harness insights from across the marketing funnel, empowering advertisers to optimize their media investments more effectively. The announcements highlighted how Amazon Ads is simplifying access to its powerful insights, ensuring that every advertiser—regardless of size or ad product—can easily activate these tools to enhance campaign performance and drive business growth.
New Product Campaigns
Amazon Ads introduced new product campaigns, a fully-managed service that helps brands quickly introduce new products to customers within the first 90 days of their launch. This service uses advertising placements across Amazon’s properties and leading broadcasters and publishers. Customers are exposed to clear and consistent messaging, moving them from awareness to purchase. For example, a customer might see an ad for a product on Prime Video, then hear about it on Amazon Music, and finally encounter a display ad on Amazon.com, bringing them closer to making a purchase. Advertisers using these media plans saw an average of 9% weekly sales growth compared to those who did not.
Audience Bid Boosting
To extend ongoing customer engagement after a product launch, Amazon Ads has also launched audience bid boosting. This feature allows advertisers to re-engage shoppers who have been exposed to their streaming TV ads. Advertisers can boost bids on Sponsored Brands and Sponsored Products ads for customers who have seen their TV ads and visited their website, focusing investments on high-value customers.
New User Experience
Amazon DSP is launching a new user experience with streamlined workflows to enable campaign creation in just a few clicks. In early tests, the new consolidated display line-item feature reduced campaign setup time by 75%. Advertisers can also leverage new frequency cap controls and reporting to manage ad exposure across channels, campaigns, and devices. These controls have saved advertisers up to 26% of their campaign budgets from spending on duplicate impressions and drove up to 21% incremental reach.
Enhanced Interoperability
Amazon Ads is also launching an ads data manager – an easy-to-use interface enabling advertisers to securely upload their signals once, and then use them across Amazon DSP and AMC to engage relevant audiences, measure conversions, and optimize campaigns.
AMC No-Code Solutions
Advertisers can now access no-code solutions within Amazon Marketing Cloud (AMC). Thus, it makes sophisticated insights and optimization capabilities accessible to all advertisers, regardless of their technical expertise. The new solutions include high-value audience analysis, which allows brands to visualize how customer spending is distributed and build audience segments for future campaigns. Another solution, optimal frequency analysis, helps brands determine the most effective frequency caps for their campaigns, monitoring KPIs like conversion rate and return on ad spend as ad interactions increase.
New Performance+ tactics
Performance+, the automated optimization feature within Amazon DSP, uses predictive AI to automate campaign setup, audience relevancy, and optimization for lower-funnel goals like customer acquisition. Advertisers using Performance+ have seen a 51% improvement in customer acquisition costs on average. New tactics include remarketing and retention.
Multi-Touch Attribution
Amazon Ads introduced a new multi-touch attribution model that helps advertisers understand how each marketing touchpoint contributes to a conversion. By analyzing shopping, streaming, and browsing signals, the model goes beyond last-touch attribution, using advanced machine learning to measure the impact of each ad interaction along the customer journey. Multi-touch attribution provides insights across multiple media formats, helping advertisers better allocate their budgets across channels and ad types. This model is in closed beta now and will be fully rolled out in 2025.
Conversion Path Reporting
Amazon Ads is also introducing conversion path reporting at unBoxed 2024. This shows advertisers the top-performing paths to purchase from the past 30 days. For instance, a TV ad might appear in the top-converting path, illustrating how it drove conversions through lower-funnel channels. This tool, a popular insight in AMC, will soon be available self-service in ad console and Amazon DSP reports.
Long-Term Sales Insights
To help advertisers measure the effectiveness of their upper-funnel tactics, Amazon Ads is launching long-term sales insights. These insights will estimate the future sales that a campaign is likely to generate. The estimate will be based on how well it moves new-to-brand shoppers through the purchase funnel. For example, if a customer visits a product page after seeing an ad but doesn’t immediately purchase, this tool gives credit to the campaign based on historical data from similar customers. This feature is currently in beta.
Conclusion
The digital advertising landscape is rapidly evolving. Streaming TV has become mainstream and full-funnel, cross-channel reach and measurement take center stage. Amazon is inventing ad tech that makes it easier for all advertisers to navigate this evolution. It offers precise reach, deeper insights, and direct measurement. Amazon DSP can uniquely drive top-to-bottom outcomes on Amazon’s properties, such as the store and Prime Video and leading broadcasts. Stay tuned for more details revealed at Amazon unBoxed 2024.
Source: Amazon PR