- Tell us in brief about what Intentwise is solving.
As a company, we are purpose-built to help manage Amazon Advertising efficiently and at scale. As the name suggests, Intentwise’s mission is to help brands understand true customer intent and deliver the most relevant experiences across marketplace channels. A little about the team, we have a team with deep domain expertise, with several of the team members being ex-Amazon alumni.
- How are the online service providers helping retailers overcome the current pandemic scenario?
We have been in conversations with many of our clients throughout the pandemic, and we’re seeing a broad array of scenarios in which they’re finding themselves due to Coronavirus (COVID-19). Some have seen a massive spike in sales as if we were in a holiday season. And while that’s generally good, some are running into inventory issues, mainly because factory capacity is not back to full tilt. On the other end of the spectrum, clients have had their Amazon orders come to a halt and they are concerned about the future. From a longer-term perspective, events like this result in a fundamental shift in buying behaviors. We have seen this happen in 2001 and 2008-09.
- How will industry partners help retailers to be more personal, more immersive, and more automated?
Given the constantly changing Amazon Advertising landscape today, it is imperative that advertisers have a fluid, agile advertising strategy in place.
In the months to come, the brands that succeed on Amazon will be the ones that can experiment with and deploy winning tactics quickly. To do this, they need to be able to pull up customized reports, diagnostics, and in-depth recommendations on demand.
We recommend three steps for ensuring Amazon Advertising success:
- Set goals: Brands and advertisers should first define what success means to them. Your goals will guide every aspect of your strategy, from selecting target markets to keywords selection to setting rules and automated bids.
- Amazon Advertising expertise:Brands that are just starting on Amazon with small budgets can take the time to experiment with the self-service advertising and reporting options Amazon’s platform offers. However, as they scale up their efforts and budgets, brands need to have a disciplined approach to optimization. Therefore, at this stage, they need to look at bringing in a team of Amazon Advertising experts, either in-house or external, to audit and execute campaigns and manage the increasing complexity.
- Experiment and learn rapidly:As a brand’s advertising becomes more sophisticated, it should aim to engage all the levers available on Amazon. To do so, the team must deploy advanced analytical capabilities that allow them to mine deep insights from data and quickly figure out exactly what works and what doesn’t.
- What do the retailers really expect from tech & service partners?
Retailers need an advertising strategy that’s tailored to their unique needs and market in order to stand out from the crowd on the busiest e-commerce site in the world. A good Amazon Advertising third party technology platform can offer the following benefits to brands and agencies:
- Savings in time and effort through AI-based automation that enables bulk actions
- Effortless performance analysis through customized reports and dashboards
- Higher returns on advertising through intelligent, algorithmic bid management
- Data-driven decision making through audits, diagnostics, and recommendations
- Data and technology maturity that enables programmatic testing, execution, and experimentation
Experts agree that Amazon Advertising is only going to become more competitive and more expensive in the months to come, and the companies that succeed will be those that invest early on in the tools and expertise necessary to sharpen their targeting and optimize spend.
- What are the strategies to be agile during the COVID 19 Pandemic and beyond?
The spike in the essentials’ category sales on Amazon in the past few months is in part because of what would typically be offline demand shifting online. This shift is habit-forming, and a good chunk of that demand will likely stay online permanently. The move to digital will be accelerated. Hence, e-commerce channels will be even more crucial than before. So, whatever your near-term situation might be, when we have all weathered this storm, gearing up to compete effectively in e-commerce is hyper-critical.