Black Friday and Cyber Monday are almost here. We have compiled six essential last-minute tips with regard to Amazon advertising:
1. Don’t run out of budgets
More than 30% of sales happen after 7 PM on Black Friday. Make sure you don’t run out of budgets. If possible, try to raise budgets by 1.5 to 2X going into Black Friday. Keep a close eye.
2. Account for rise in conversion rates and competition
Conversion rates usually shoot up during Black Friday and Cyber Monday, and so does competition. Raise bids on your critical, high-performing keywords/targets by 1.5 to 2X for those days.
3. Protect your brand
Bid on your brand terms and make it difficult for your competitors to steal your customers away, especially with the Sponsored Brand top of search placement. If you need help keeping track of who is out-bidding you, contact us.
4. Plug ASIN gaps
Do a quick ASIN gap analysis. Ensure that all the ASINs you want to advertise for are, in fact, in play. The larger the catalog, the more likely it is that ASINs could be missing inadvertently.
5. Plug keyword and product target gaps
Ensure that targets (keywords, products) working in one campaign type are in play in the others.
6. Align ad spend with inventory
Don’t advertise on ASINs that are at the risk of being out of stock. Note that while Sponsored Product and Sponsored Display campaigns are inventory aware, you could still be burning money on products that have “In Stock Soon” messaging.