New Feature for Amazon Sponsored Products: Bidding Controls
At the end of 2018, Amazon rolled out enhanced targeting for Sponsored Ads. To keep the ball rolling, they have also announced updated bidding controls and performance reporting for this ad format. Read more to learn about these changes and what it means for marketers.
What’s Included in the New Update?
The three main highlights of the new feature are:
- Dynamic bidding: automatic auction-time bid adjustments
- Placement performance reporting: new tab available within each campaign
- Placement bid adjustments: bid multipliers for ad locations (or placements)
The three different campaign bidding options that Amazon now offers are Dynamic bids (Down Only), Dynamic bids (Up & Down), and Fixed Bidding. For Dynamic bidding, Amazon will adjust bids in real time based on the likelihood of conversion, and for fixed bids, Amazon will leave your bids alone. Amazon predicts these conversion rates through their complex machine-learning models that use a variety of signals to determine whether or not an ad will convert into a sale.
Placement Performance Reporting
After debuting the new targeting features for Sponsored Products, we were happy to see Amazon offer an updated view into how our ads were performing by placement. The new reporting now provides performance data broken out three ways: top of search (first page), rest of search, and product pages placement groups. Which leads to our next section...
Placement Bid Adjustments
Now that we have insight into where our products are performing, Amazon introduced a feature that allows bid adjustments by placement. This enables marketers to gain more control within their campaigns and influence where their ads will appear on Amazon. By giving users the ability to set bid multipliers between 0% - 900%, they can better compete for these placement opportunities based on performance. This feature replaces the Bid+ option previously available within the UI.
What Does This Mean For Marketers?
The key benefits marketers will see from these updates are better performance, better control, and better insights for their sponsored product campaigns. Moving forward, Amazon notes that they will continue to update their machine-learning capabilities to improve their accuracy.
The changes to the interface and new options available can be seen below.
Contact Rise today if you’d like to have a team of Amazon experts help manage your Amazon programs ensuring they’re generating their maximum potential.