Amazon unBoxed 2023 in New York came to a close, leaving brands and agencies buzzing with excitement over the retail giant's latest announcements. Over three action-packed days in October 2023, Amazon unveiled a slew of advancements and features designed to shape the future of advertising. Here's a rundown of the highlights from this year's event.
AI-Enabled Image Generator Tool: Enhancing Your White Product Background Images
Amazon introduced its AI-enabled image generator tool. This tool promises to dismantle creative barriers and offer a level of custom creative ability that small and midsize businesses (SMBs) and large brands have never seen before. Its ease of use and support for multivariate testing are game-changers, potentially increasing return on investment (ROI), cutting production costs, and boosting creative performance.
Imagine placing your product images effortlessly into a fully realized kitchen or living room setting with just a photo and a few simple text prompts. This is the power of Amazon's generative AI. If the result isn't exactly as you envision, you can easily fine-tune the image to meet your preferences.
Amazon Marketing Stream: Improved analytics for real-time optimizations
Quartile’s CEO, Daniel Knijnik, joined forces with Todd Walsh of HP and Dave Katz from Amazon for a deep dive into the powerful capabilities of Amazon Marketing Stream. The trio unpacked how this advanced measurement solution has been a game-changer for HP, fueling incremental performance with its rich, actionable insights.
Daniel and Todd shared an insider look at how Quartile leverages tools like Rapid Retail Analytics for real-time reporting, allowing for on-the-fly refinements to HP’s advertising strategies. The discussion underscored the synergy between sophisticated measurement tools and strategic advertising agility, offering the audience a blueprint for leveraging Amazon's latest ad tech to their competitive advantage.
Amazon Marketing Cloud: Data Analysis Simplified
Template Analytics in Amazon Marketing Cloud is revolutionizing how advertisers review and interpret their data. The feature allows for easy execution of queries with an equally straightforward way to visualize results. Starting with templates for overlapping ad data and path-to-conversion insights, Amazon has made significant strides in simplifying complex data analysis. However, it’s still in its infancy—current templates are fixed and cater to specific scenarios.
Amazon Publisher Cloud: Bridging First-Party Signals and Ad Insights
Amazon's answer to the sophisticated programmatic advertising landscape is the Amazon Publisher Cloud (APC). Powered by AWS, this privacy-centric platform enables a deeper analysis of publishers' first-party data. By marrying this with Amazon Ads insights, APC is a leap forward for advertisers looking to optimize their reach across ecosystems and verify performance metrics.
Cross-Channel Planner: Streamlining Media Planning
Advertisers can now rejoice with the introduction of Amazon's Cross-Channel Planner, a comprehensive tool within Amazon DSP. The planner provides expansive insights and performance data across Amazon and external sites, allowing for better budget allocation and forecasted reach that takes duplication out of the equation, ensuring maximum efficiency in ad spend.
Sponsored TV: Democratizing TV Ad Campaigns
Sponsored TV breaks new ground by offering brands the chance to advertise across Amazon Freevee, Twitch, and various Amazon devices with no minimum spend or long-term commitment. This opens the floodgates for brands of all sizes to tap into TV's high-engagement advertising, with accessible budget suggestions and creative services on hand to help businesses with no ready-to-air assets.
DSP Gets Smarter and More Predictive
Amazon's Demand-Side Platform (DSP) is setting the stage for a more intuitive advertising experience with predictive automation and granular, hourly metric updates. Advertisers can set key performance indicators (KPIs) and let DSP manage the bidding process, allowing for sophisticated dayparting and strategic ad placements.
Amazon's New-To-Brand metrics have gotten an upgrade. The platform now offers insights into consideration behaviors, not just final purchases. Advertisers can track if their ads lead to product page views or cart additions, painting a fuller picture of consumer interaction and interest.
Enhanced Amazon Audiences
Amazon Audiences now leverages machine learning to refine its prebuilt audience catalog for DSP campaigns. This enhancement promises more precise targeting and measurable outcomes even in environments where ad identifiers aren't available, improving both the reach and relevance of campaigns.
The announcements made at unBoxed reflect Amazon's commitment to innovation and customer-centricity. For brands and advertisers ready to harness the power of these new tools, the potential for growth on Amazon's platform is vast and waiting to be tapped.
As the landscape of digital marketing continues to evolve, staying ahead means leveraging the latest technologies to their fullest. If you aim to be at the forefront and learn more about how these advancements can bolster your Amazon sales performance, we're here to guide you through it. As a proud Advanced Amazon Ads Partner and the world’s largest retail media optimization platform, Quartile leverages cutting-edge technology and extensive industry expertise to deliver remarkable results for our clients.
Schedule a call with one of our strategists today and take the first step towards transforming your advertising strategy with Amazon's latest features and offers. Don't miss out on the opportunity to maximize your impact where it matters most.