In New York this week is Amazon Ads unBoxed , the annual conference where Amazon announces new solutions and innovations to help brands big and small connect with customers, grow their brand, and prepare for the future.
This is quickly becoming one of the most important yearly conferences in marketing. Retail media is now the third largest digital ad channel and is forecasted to grow 31.4% to $40.81 billion this year (that’s triple its 2019 total of $13.23 billion)! As the global retail market becomes more competitive and marketers ramp up their sophistication and investments in retail media advertising, companies must prioritize, have access to, and take action on insights faster than their competitors.
Getting to those insights requires near real-time or real-time data. In a recent study, 92% of marketers reported that real-time decision-making was either very important or important to marketing performance success.
Amazon Stream is a key insights tool retail media advertisers are turning to for that powerful real-time data—and a new announcement from Amazon means that more marketers will be able to tap into these powerful insights.
Amazon Stream is now available worldwide
One of the big bits of news coming from unBoxed 2022 is that Stream is now available everywhere. When it launched earlier this year, it was only available in North America (US, Canada, Mexico). Now, Amazon Ads marketers across the globe can take advantage of the real-time insights too.
With highly granular, real-time reporting of Amazon Ads activity, Stream enables intraday optimization among many other powerful use cases. It’s certainly a “must-have” tool in every retail media marketer’s toolbox.
Skai is leveraging and continuing to develop against Stream’s nearly real-time data to support existing features for enhanced accuracy and create new products that improve campaign accuracy and efficiency.
Just a few examples of how Skai clients can use Stream include:
Automated Reporting. Skai developed an additional report to our Scheduled Reports portfolio that leverages near-real-time data from Amazon’s Stream API. This report shows all performance data aggregated per hour and will help us optimize your campaigns for maximum efficiency.
Ad Scheduling. Skai’s dayparting functionality sets the bid and campaign status according to the time of the day. This process will soon provide even more accurate insights into the hourly breakdown thanks to our connection to Stream. As a result, our customers will be able to make more informed optimization decisions on when to increase or decrease bids and review algorithmic recommendations. Plus, they’ll be able to do so in bulk and with our bid and budget AI optimization in Portfolios or Budget Navigator.
Bid Optimizations. Skai provides both rule-based and AI-based optimization in which our customers can set KPI and budget targets for groups of campaigns that the algorithm will optimize toward. Skai’s developing the optimizations against Stream data so that our customer’s bids and budgets will adjust with more precision throughout the day as necessary.
Dashboard. Skai offers advanced dashboards that offer a quick snapshot of the metrics that matter most to your business. These customizable dashboards offer straightforward reports that will be even more precise with Stream data’s near-real-time data.
“Amazon Stream is an important innovation for retail media marketers,” says Noa Reikhav, VP Product, Commerce at Skai. “When equipped with these granular insights, practitioners can make faster decisions throughout the day to better adapt and react to what’s happening in real-time with their Amazon Ads.”
As Amazon opens up more functionality and advanced reporting capabilities for the real-time insights of Amazon Stream, Skai will continue to find ways for our clients to access these real-time insights quicker and enable faster actionability to drive up performance.
Skai’s Retail Media solution
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 or to schedule a brief demo to check out all of our cutting-edge innovations for yourself, please reach out today.