If your advertising isn’t working, please don’t spend more money
It may seem counterintuitive for an agency not to say “give us more money”, but when it comes to ecommerce advertising we’ve found that if a key word isn’t working for you, spending more money isn’t necessarily the solution.
“We don’t just spend their money because we can,” says Marketing Lead, Cole Walker, “If something is too expensive for our clients our first reaction isn’t ‘give us more money’. It’s ‘let’s find a new area to get ahead in – a new keyword or category.” Brands need to find their hero keywords and make sure they have access and transparency to all data. “We tell our brands everything and we don’t hide anything so when we present our recommendations they feel confident in the data to make a decision.”
Feeling a little overwhelmed with ecommerce advertising? Here are Cole’s 5 things to consider:
1. Overcome the myth that you need a big budget
Many brands believe that you can only get ahead if you have a big budget. There’s a myth out there that in order to own the majority of the page or a space you have to spend a ton to get there. The truth is you can find really niche key words and still own a piece of Amazon. Big companies tend to own broad terms (think Cheez-It owning “snacks”) but that doesn’t mean you can’t own space like “school snacks” that can be profitable and move volume.
2. Don’t look at advertising in a silo
A few years ago you could spend, spend, spend, against a keyword and find ways to work with the Amazon algorithm. The competition 2 years ago was a lot different. You could almost always see a good ROI on ad spend only looking at advertising in a silo. Now we need to look at advertising through the lens of your entire operation considering strategy, inventory, supply chain, and content. I love working on a bigger team that I can communicate with to make sure that all of all of our functions align. For example, content keywords match up with advertising.
3. Don’t forget to change your ads with the upcoming holiday season
Brands need to ask “How can we take advantage of the holiday traffic and are we making sure our ads change with the season?” Instead of just changing the spending, consider changing the copy on your ads to be more holiday focused like shifting the keywords to gifts.
4. Find your corner!
Advice for smaller brands trying to break through – find your corner! You want to eventually to break into the big keyword. If it’s “dog treats” you want to find what your product does differently – like gluten free dog treats. Highlight what you do well if you don’t have the budget to compete with the big dogs. (no pun intended)
5. Remember that Amazon is more than just the website
What are brands sleeping on right now when it comes to ecommerce advertising? All Amazon-owned and operated advertising potential. Amazon is much more than just search on Amazon.com. Think bigger with Whole Foods advertising, Twitch, Imdb, and the list will grow in the future.