Amazon Marketing Cloud Missed Opportunities Audiences Tutorial - Amazon Advertising Strategy

Hi guys, Amazon marketing cloud audiences with this highv value audiences solution part three. In this part I'm going to cover how to create audiences of missed opportunities and how you can benefit from them. In my previous sorry first two parts I covered some general overview on how you can use this this tool. It's super effective and super easy and how you can use purchases and how to analyze the data and create some audiences lookalike and different variations of it. Now for this uh part three I'm going to concentrate on missed opportunities and just as a short recap you can see the summary of your performance for the date range that you selected over here. So you can set set it like last month last three months and last six months it's only by month. So we cannot for example now it's February the second and when we select last month it's going to be um still the whole month of December. So probably in next few days the data from January will be available. Uh what you can notice here immediately is that when we selected last month only some of these uh quick audiences are not we are not able to create them simply because the audience size is less than 500. So to overcome that limitation you can if it justifies I mean if the data justifies to do that you can increase that to last three last three months and then immediately you have some additional audiences. Now the selection of date ranges can impact the precision of your audiences pretty significantly simply because if you select previous three months and for example you say okay I want to target people who added my product to cart in previous three months you know and haven't bought you know chances are they already bought your competitor's product most likely if that's the case but you can check that through other MCU reports like time to conversion and then um check if that makes sense or So this is for example let's leave it as last three months because it doesn't make sense for our demonstration here. So between the two tabs you have purchases and then different uh data on the purchases but we want to focus on missed opportunities here. Now you can see here that breakdown of how they call it conversion metrics and how many total users are in each of the buckets and the audience size which is typically the same like total users and audience size. I don't know why they split it like that but anyway here you can select for example detail page you want and since most of these except the subscribe and say sub subscription are more than uh 500 people you can automatically create audience off of those for example wish list so you can create that audience based on people who added your product wish list but still haven't bought now I still need to test what the customer review would be because if it's if it's under mystery opportunities it's a customer review so could could it be that you're targeting people who did a review of your product doesn't make any sense because it's a missed opportunity. So, how could they review your product if they haven't bought it? So, that's I will I I owe you that one. The rest of that is uh pretty self-explanatory. For example, usually people like the add to cart abandoners the most and that's where you can concentrate at the beginning. I would probably select because it's it's um for this account it's a lot of users for for three months of cart abandoners. So I would probably go just last month cart abandoners and do that for example in a few days once the data in January is available and then you can use add to cart and hit create audience immediately you will be presented with a screen to create an audiences of people who um added your product to cart but they didn't buy. So and you can then export that audience and use it in your sponsor products sponsor brands or sponsor display audiences and then add that audience to your campaign under the mid adjustment settings. Furthermore, I covered that in more details. How to add audiences to your campaigns. You can look that up on my YouTube channel. Um, so when what you could potentially do is you could do you could add this audience to your sponsored ad campaign. And then what you can you can maybe uh set a base bid really low base bid for general audience. Know like I don't know if your bid is competitive bid would be $1, then you could say, "Hey, bid I don't know 30 cents for this base bid which is for general audience." and then add um this audience multiplier adjustment for I don't know let's I would start probably with a 100 200% increase. So effectively you would be 50 cents for general audience and you would bid dollar and a half or even more for people who are your cart dependent and then know you would be uh more aggressive uh towards them. Uh or you could probably test that and put a really like minimum bid on for general audience and then make it like a exclusively campaign for add to cart abandoners and then you could add uh if it's a sponsor brand ad sponsor display you can add some certain headline like hey you missed this opportunity it's a it's super cool it's stupid because you haven't b bought or whatever you know um so that's also an option um here even though I've selected add to cart on my previous screen it still offers me to to select even more of these conversion metrics to be the baseline or sorry the basis for the audience but I want to keep it granular. So I want to create add to cardart and on the separate audience I want to create people who did the brand search and then especially interesting detail page view. So people who already visited your um product page but haven't bought. That's super helpful because you know that's an audience who is really interested in your products. Then you can also as all the others you can select if it's if it's going to be people who already were exposed to your ad or nonexposed to your ad know so so for some additional granularity then pro choose your products uh choose your marketplace and your brand and again similar as in previous two parts that I recorded you can select like most similar audience or most broad audience depending on what you want to accomplish and how wide you want to go for for or if it if you want to just target these guys who abandoned the card then yeah you need to select a rule-based audience, set a proper name and proper description because with multiple uh different audiences, you will get lost in what you created. Uh let me know what you think. I think this is super helpful because you don't need any uh SQL knowledge, SQL knowledge, however you call it. You need don't need to go into query editor whatsoever. You just select pinpoint what you want to accomplish, hit create audience, wait for a little bit for it to be available, and then go to your campaigns and play with it, play with the adjustments. Uh, forward this to your team who manages your PPC and let me know if you have any questions in the comments. I'll be glad to answer them. See you tomorrow in the next video. Bye-bye.