In 2022, retail media continued to make a splash. According to the ANA, 58% of marketers used retail media networks in 2022, and 73% of marketers are planning to spend more on retail media in 2023. This promising investment will create a tidal wave effect.
As investments increase, data continues to be the foundation of successful retail media programs. With data, advertisers can target the right audience, at the right time, with the right product, and can truly measure the return on ads within their Amazon Advertising strategy.
Must-have Amazon Ads data innovations
While retail media advertisers use an average of 8+ data sets to guide strategy and budget decisions, Amazon Ads is making strides in its data offerings. In the past year, Amazon Ads has released some of its biggest product developments in data usage. Brands now have the capacity to make their data more actionable and reach customers like never before. If you’re not taking full advantage of the updates to the API or the rollout of Amazon Marketing Cloud and Amazon Marketing Stream, you’re missing a big opportunity to connect with your customers and drive sales on one of the world’s biggest retailers.
Amazon APIs — application programming interfaces — provide the most accurate data but at a slower rate. The most recent API is SP-API, the first API for vendors, which focuses on the retail data connection. It helps both Amazon sellers and vendors programmatically access retail data in listings, orders, payments, reports, and more. SP-API offers 30+ datasets such as Amazon Brand Analytics so that vendors and sellers can see non-media metrics like retail data alongside media metrics like performance data.
Amazon Marketing Stream, or Stream for short, is the solution to the speed and frequency of API data, with a push-based messaging system that provides near-real-time access to more detailed ad reporting. While Stream offers near-real-time data, it’s only available via API partners, like Skai. But, the benefits are unparalleled. Having more timely performance data allows marketers to be nimble and improve campaign effectiveness.
Amazon Marketing Cloud, also known as AMC, is the solution for reporting with more granular data points and insights via a cloud-based clean room in which advertisers can easily perform analytics across their Amazon Advertising events and can even bring in their own data sets. AMC takes your measurement questions and provides the raw data as an answer. The next step is a visualization to more easily identify key insights.
Next steps with Amazon Ads’ latest data innovations
The final step is taking action against these learnings such as shifting budgets across campaigns. AMC can uncover a more comprehensive look at the customer path to purchase, the true measurement of DSP’s impact, a better understanding of incrementality, identification of gateway ASINS, and much more. After onboarding onto AMC via Skai, a client was so excited at first glance: “I can’t begin to describe how fascinating these AMC insights are. While one sub-brand is just 5% of our sales, we’ve uncovered the immense brand introduction it’s causing to the rest of our brands.”
These data releases are key priorities for brands to ensure they have the most advanced competitive edge in the market. With Skai, this has never been easier. Not only can Skai support your Amazon campaigns with first-class automation and optimization, but our marketing platform brings in additional data sources that connect the dots and show you the bigger picture.
Learn more about how Skai makes your retail media programs smarter
As part of Skai’s omnichannel marketing platform, our Retail Media solution empowers brands to plan, execute, and measure digital campaigns that meet consumers when and where they shop. Built with best-in-class automation and optimization capabilities, our unified platform allows you to manage campaigns on 30+ retailers including Amazon, Walmart, Target, and Instacart all in one place.
For more information, we invite you to schedule a quick demo at your convenience to see our retail media innovation firsthand.