We recently had a chance to sit down with the Amazon Advertising team to discuss the vision of the platform and where it is headed. We wanted to share these insights with you hoping it may help position your brand for success in 2021.
Knowing which direction the consumer trends are heading can be extremely helpful in developing an online strategy. By 2020 we had already been seeing a shift in consumer shopping trends towards online shopping, The COVID 19 pandemic only accelerated it. Just to call out a few stats from that year – 1 in 5 retail purchases happened online, growth in online grocery shopping increased 1.5x, there were over 70MM users using Amazon streaming services, and 17% of US households had a subscription to an online gaming service. All these data points convey one message – more consumers spend their time online and in particular on Amazon and its properties. And that is great news for brands as Amazon has been building out a very robust system of engaging with these consumers.
In Amazon’s own words: “Our vision is to offer a full-funnel advertising and technology solution”. Amazon focuses their efforts in providing tools for advertisers to grow their brands and ultimately grow their businesses. There are several components of this:
- Build your brand through integrated brand story across media
- Connect on and off Amazon – with Amazon tools reach customers who are already on Amazon.com or target those who are still on off Amazon properties
- Measure results – Amazon empowers advertisers to gain insights with a variety of KPIs and insights
With that, the focus within Amazon Advertising for 2021 lays in several areas:
- Advertising Products
- Brand-centric experience
- Advertising technology
- Full-funnel solutions
We will dive into each of these areas in greater detail with the upcoming posts. Stay tuned!
