Have you taken advantage of Amazon Product Targeting campaigns’ full potential? If you’re barely using or still heavily relying on Keyword targeting campaigns, you are missing out a significant opportunity how to grow Amazon sales.
If you’re thinking that all you need for your PPC campaigns is to find out what keywords to target to bring in the sales, then you’re clearly putting a dent on your profit potential and ROI.
Below are 4 campaign types that you can use to start using product targeting campaigns to improve your sponsored ads and how to grow Amazon sales.
1. Target your own listings/products
One way to defend your bestseller listing is to target your own products as a substitute or alternative. This defensive strategy will help your other products improve their relevance score. By bidding against your own, it will also help lower your cost per click (CPC) since buyers will be able to see more of your products at one glance.
This defensive strategy is also a great strategy for your next product launch. When you have an existing product that is already established, like having a good number of 5-star reviews, it will be easier for you to introduce the new product. Since it’s under the same brand, associating the new product with your bestseller will help you educate your potential customers about it. So if it’s a solid listing, then buyers will more likely trust the quality of the new product.
2. Target ASINs with conversions from Auto campaigns
If you have used auto campaigns, you will notice that your Search Term Report will sometimes
Include ASINs. These ASINs can be your own or from your competitors. This means that Amazon’s algorithm has indexed your listing to that specific ASIN and has considered it relevant. If you see that ASIN in the Search Term Report has converted into a sale, you can target that particular listing for your product targeting campaign. What does this mean? This means that buyers have probably decided that your product is better than your competitor and you should capitalize this!
Don’t forget though to evaluate your competitor’s ASIN as to why people are not choosing it when compared to yours. Check their reviews, photos, pricing and listing to make sure that your own product listing is superior and not just pure ‘luck’ that it converted into a sale.
Especially if the target competitor ASIN has a good ACOS and conversion rate, this just means that your product listing is superior when your buyers compare your product to that of your competitors.
3. Attack Mode: Target your direct competitors with higher pricing!
Aside from branding, Pricing is always a crucial factor when buyers decide which to buy if confronted with similar products that have the same features and benefits.
Although not always, lower-priced items tend to have a better sales conversion rate when compared to higher-priced items. This is especially true if your target market is price-sensitive. So if you can sacrifice a bit of your profit to bring down your price, do so! But how much should you sacrifice?
You can list down your top 10 competitors and take note of their prices. Then identify the top 3 competitor product listings with prices higher than yours. You can set your price lower than the top 3 or even just have it lower by a dollar. The key is to test your pricing so you should know your break-even point and then test how much potential profit you can let go in exchange for more sales volume.
4. Dominate Competitors with Lower Rating
This is also an attack strategy wherein you will target competitors with low ratings and present your product listing as a better alternative.
Aside from pricing, some buyer segments place product reviews as an important factor when deciding to buy the product or not. This segment is quality conscious and may not mind about the cost of the product. For them, quality is always better.
Identify your competitors and find out which have a lower rating compared to yours. Then target them with product targeting to showcase your listing as a better alternative than your competitors.
In PPC, it’s always better to find other sources of sales. That’s how to grow Amazon sales. So if you can maximize both keyword and product targeting, it will be more advantageous to you rather than sticking to 1 source of sales traffic.