I’m extremely excited to announce the launch of our Amazon PPC Audit tool.
It’s been months in the making and lots of data wrangling with Amazon’s advertising API and support from Amazon’s API team (thanks @Rob Quattromini!)
What is it?
The tool is a freemium self-serve product based on Nozzle’s technology and Amazon’s API.
In a matter of seconds, the report gives a detailed breakdown of wasted ad spend and missed ad revenue opportunities. Some examples:
- An overview of where you’re spending your money across match types together with an overview of where converting terms are appearing across match types (keyword harvesting). We’ll also throw in data on converting ASINs from Auto and Product campaigns for good measure:
- Per match type (Auto, Broad, Phrase, Exact and Product), it specifically calls out the most impactful search terms that you should take action against, whether it’s migrating to Exact match because it’s a great performer but still sitting in Auto or negating / bidding down because you’ve spent a bunch of money with clicks and no conversions. Here’s a Broad match example:
- It gives you an overview of what your branded vs non-branded conversion funnels look like:
1. Pitching for New Business:
For an agency / consultant, a very popular use case is to use the tool when pitching for new business. Assuming a prospective client is willing to grant you access to their account (this often already happens with Google audits), you’ll get an overview of both the state of their campaigns, their priorities, whether the campaigns are in-line with their broader Amazon goals as well as a sense of the revenue and efficiency potential of the account. Although it’s early days, the feedback has been that this tool is a genuine differentiator and had a material impact on the pitch. If a client is unwilling to grant access and you do win the business, it can form part of the on-boarding - you don’t even have to take responsibility for all the inefficiencies and wasted spend you find either :)
2. Continued Optimization:
Whether you’re a Seller or an agency/consultant, because the tool instantly highlights wasted spend search terms and the best performing terms (for every match type, including product targeting campaigns!), running the report on a monthly basis can save hours of sifting through Search Term reports, leaving you to focus on strategy. With just 5 minute’s work implementing our suggestions, we have seen an average decrease in ACoS of 10%, an increase in conversion rate of 40% and total sales of 20% in just one month.
This is just our first iteration. We’d love feedback to help us improve the product. Possible future iterations can include:
Incorporating ACoS / RoAS Goals:This is a popular request and we’re currently working through how best to incorporate these goals into our recommendations.
Benchmarking:Although accounting for ACoS / RoAS goals is important, we are often asked “How do I shape up to my competitors or the industry / sector average?” We’re looking into the feasibility of providing some helpful comparative metrics such as:
”Your ACoS of 45% in the cosmetics sector for the US in Feb ’20 is above the average of 25%.“
“The average CPC for furniture in the UK in November ‘19 increased by 15%.”
”Halo Effect” Toggle:This may be a bit of an edge case but some customers have requested being able to choose whether to include / exclude halo sales from the analysis. For reference a halo sale is when someone clicks on an ad for, say, product A but ultimately buys product B. The ad for Product A will get the credit.
Sponsored Brands (SB) and Sponsored Display (SD):We’re currently focusing on Sponsored Products (SP) as it’s overwhelmingly where the budgets are. Amazon’s API for SB and SD doesn’t allow to do the in-depth analysis we currently can do for SP. However Amazon is investing heavily in its API for both SB and SD so it will be do-able later this year.
Listings Audit:Although there are already a few tools that analyze listings, we feel there’s a lot of potential to make more powerful recommendations when utilizing the PPC data. For instance we can recommend which of your best-performing search terms to place in your title / bullet points.
You can check out more info (laying with what some of our early customer had to say about it at http://www.nozzle.ai/audit.
As ever, please reach out to me directly with comments/questions/suggestions, etc!