Act Now: How to Get the Most Return on Investment from Amazon's Retail Media
The explosion of retail media triggered by Amazon has created a major marketing opportunity for brands and sellers, but current advertising processes have not been adapted to capitalize on this opportunity. As a result, marketing departments are split across different teams making it difficult to build an effective marketing strategy. This siloed approach is undercounting the opportunity of Amazon, overinvesting in TV and search, and suppressing investment in retail-media.
In order to take advantage of the retail media opportunity, brands should prioritize a distribution-first approach, hire an internal portfolio optimizer to monitor investments, and rally industry-standard commerce tools to accurately identify and measure consumer behaviour. These steps are crucial to ensure that the full potential of Amazon is leveraged and marketers are investing their finances in the right channels.
This article outlines how brands and sellers can best capitalize on the Amazon marketing opportunity. By taking the steps mentioned and readying their marketing departments for the retail media gold-rush, brands can ensure that their dollars are chasing the best return on investment. Brands need to act now to ensure this opportunity is, what it’s been hailed as, the biggest marketing opportunity in two decades.