What is Retargeting?
Have you ever wondered how you can suddenly find an item you recently checked on Amazon all over your browser? Don’t we all think we are being monitored by an intelligent agency to know our wishes? Well, Amazon Retargeting is the mysterious brain responsible for this. Follow closely as we explain all the details you need.
Retargeting, also known as remarketing is an advertising approach employed to target shoppers who have interacted with your product or brand. There is only one goal in mind - to convert these potential customers into current ones.
You would agree that this happens to everyone: One would have checked out a product when there was not enough money and promised to buy them later. However, when money finally comes, we can get carried away and spend the money on other wants. But, a single reminder might have been enough to make us buy the product after all. Yea, retargeting is the reminder here.
Keep reading to learn more.
Why should I use Retargeting?
The reason to use retargeting is to remind your potential customers about their interests. Even if money wasn’t the hindrance, retargeting can be a form of advertisement to impress a customer. Hence, some refer to it as (re)marketing. In the same vein, you can build brand awareness more efficiently and faster.
Knowing its purpose, one may be curious as to its effectiveness. The truth is that it works perfectly well. Several sellers have increased their ad impressions and conversion rates with retargeting. You only need to do it the right way - Amazon DSP is the right way.
Why should I use the Amazon DSP for Retargeting?
Most of us think of Amazon first when we think of ecommerce. No doubt, it is the largest market for all products yet it has no single physical store. How come it has amassed such a wide array of use cases across the world? It is simply because of its effective marketing strategy. Little wonder, there are more than 2 billion monthly visitors on Amazon.com.
Due to its big influence, you can get your products to the front of your shopper with the Amazon demand-side platform (DSP). Thus, you can use the DSP to expand your reach even beyond the numerous monthly visitors on Amazon.
Here are some quick stats on why you should use Amazon DSP:
- Amazon advertising reaches 96% of all US adults (25 - 54 years old) every month.
- There is a 50% increment in users of Amazon DSP between 2022 and 2023
- After Google, Amazon has the highest number of sites using its buy ads feature. Because of the rapid growth, it is to be expected that Amazon will soon overtake Google as well.
Amazon DSP is a programmatic way to reach various audiences. Now, this poses another big question - how can my brand be different from my competitor who employs Amazon DSP?
Different strategies for Retargeting with the Amazon DSP
To stand out from others, we need to be strategic in how we do the same things. It will be wrong to do the same thing the same way as others and expect a different result. Hence, this section is very important.
1. Retargeting of Amazon Users
You can target Amazon users that have previously purchased, viewed, or even searched for your products. The more beautiful part of this is that Amazon makes some suggestions for the products you should use for this. As such, you can include them in your campaigns.
To ensure maximum reach, Amazon suggests using the detailed page views as a metric. Review and if applicable add all suggested products or the products you want to your campaign. Nevertheless, if there are none, it means your products do not have a high enough detail page view count.
Here is another good news; if strategy 1 does not work, it is not the end of the road for you. Consider the next one.
2. Retarget Advertiser Audiences
You can use your brand’s first party data to create custom audiences. This is similar with Facebook Ads or Google Ads as Amazon allows you to upload your customers list. Easily, you can reach the best audience for your business using offline identifiers. Can you see how Amazon DSP has made retargeting simpler?
3. (Re-)Targeting of Lookalikes
What are lookalikes? These are audiences that share certain characteristics and have shown affinities to your already chosen audience. The benefit of targeting lookalike audiences is to expand your reach beyond your own advertiser audience. More reach is the goal, right? Then, you will have to expand your horizon to “neighbors” that share affinities with your audience.
Just some FYI,
There are other strategies of Amazon DSP you should consider. They include;
- In-Market - based on historical shopping and browsing behavior on Amazon
- Lifestyle - based on user's phase of life (behavioral targeting on the basis of buying and browsing behavior). Could be parents, for example.
- Demographic - for audiences in a particular region, gender, or age groups.
- Contextual - based on product categories in which the target group currently browses
- Location & Time Targeting - based on places where users live or work + based on specific days or times of the day
- Technology - based on the user’s type of device or domains
Conclusion
Now that you have learned the strategies of retargeting with Amazon DSP, what is next? It is time to get into action. Do not think that Amazon DSP cannot work for your company. We all want to reach our targeted audience and achieve our brand goals. Retargeting with Amazon DSP can be the effective and efficient tool you need for that.
You can get more details about Retargeting with the Amazon DSP. Schedule an appointment with us now!
