In a groundbreaking move announced at unBoxed 2023, Amazon DSP has introduced a revolutionary feature—goal-based bidding. This cutting-edge functionality allows sellers to set particular performance targets for their campaigns.
It lets Amazon DSP automatically optimise bids in real time to maximise delivery at those performance targets. This release marks a significant leap forward, allowing advertisers to optimise both delivery and performance goals seamlessly.
If you are an Amazon Seller and are already using Amazon DSP to step up in your selling, then it might be an essential feature you want to use.
Understanding Goal-Based Bidding
For advertisers aiming at Performance (CPA) Goals, the introduction of goal-based bidding streamlines the campaign creation process. Now, advertisers can precisely specify a target CPA, allowing Amazon DSP to prioritise the optimisation of campaigns to meet or exceed this predefined cost-per-acquisition goal.
In the realm of Brand (Reach) Goals, the campaign creation process is equally enhanced. Advertisers can set specific targets related to reach, ensuring that their brand message is delivered to the widest and most relevant audience.
The Power of Goal Metric Status in Campaign Reporting
The introduction of goal-based bidding is not just about setting targets; it’s about understanding how your campaigns are performing against those targets. The new Campaign Reporting feature includes Goal Metric Status, providing advertisers with insightful metrics on how well their campaigns are aligning with the specified goals.
Why Goal-Based Bidding Matters
Maximising Delivery and Performance
Goal-based bidding is a game-changer because it enables advertisers to maximize delivery while meeting their performance thresholds. By setting a Key Performance Indicator (KPI) target during campaign creation—such as a target CPA of $10—and choosing “Prioritize KPI target” as the optimisation strategy, advertisers can ensure that their campaigns not only achieve their overarching goals, such as conversions but also maintain or closely approach the specified target CPA.
Accessing Goal-Based Bidding
Advertisers keen to leverage goal-based bidding can access this feature through the Amazon DSP platform and the Amazon Ads API. This ensures a seamless integration of this powerful tool into their advertising strategy.
Who Can Benefit?
Goal-based bidding is exclusively available to Amazon DSP advertisers. Whether you’re a business in Australia, North America, South America, Europe, the Middle East, or the Asia Pacific region, if you’re using Amazon DSP, you can take advantage of this innovative feature.
This feature empowers advertisers not only to set ambitious goals but also to achieve them efficiently.
By automatically optimising bids in real time to meet performance targets, advertisers can navigate the complexities of the advertising landscape with newfound precision and effectiveness.
Want to talk about how Amazon DSP will benefit your advertising efforts and performance – Get in touch today!