Amazon is the largest online marketplace in the world for a reason. You will find almost everything you need on this shopping portal. Amazon is one of the quickest ways for small and medium-sized businesses to list and sell their products. If you are good at advertising your product, then there is no force in this world that can stop you from achieving a shining success on Amazon.
Amazon advertising can help you gain profits quite easily as compared to other paid advertising methods. As a matter of fact, the conversion rate for Amazon Sponsored Products ads is significantly higher than the Google Shopping Ads. This shows that for an online retailer, the best way to ensure the sales of his product is to gain proficiency over marketing through sponsored product ads.
To provide a seller with insights into the product campaigns, reporting is made available in seller central, which allows you to download specific reports about your campaign. Reports grant you access to account-level data for sponsored products, sponsored brands and sponsored displays.
These reports help you measure your ad performance so that you can optimize your campaigns accordingly. There are different types of reports which include targeting report, campaign report, search term report, keyword report and advertised product report to name a few.
Amazon recently introduced a new report metric for the Sponsored Products, which is known as the Budget Report. This report shows you how your campaign performance gets affected when your campaigns go out of budget. Following metrics are included in the budget report:
1. Average Time In Budget – This metric tells you the percentage of time when your campaign was within budget.
2. Estimated Missed Impressions –It can be easily concluded that you won’t receive any impressions if your campaign is out of budget. This particular metric tells you the estimated number of impressions you might have received if your campaign had not gone out of budget. This data is gathered with the help of estimated missed clicks and historical CTR.
3. Estimated Missed Clicks –Just like the impressions, this metric gives you an estimated number of clicks you might have received if your campaign had not gone out of budget. It is to be noted that this number is just an estimate and some campaigns might not even have enough data to provide this estimate.
4. Estimated Missed Sales –This metric provides you with an estimated number of sales you missed out on when your campaign was out of budget. Estimated missed clicks and historical sales data are used to predict the est. missed sales.
5. Recommended Budget –This metric gives you the budget amount you should consider to minimize the chances of your campaign running out of budget. This will also keep you from missing out on impressions, clicks and sales.
Analyzing these reports allows you to assess the performance of your campaign and make changes to it if necessary. The data gathered from these reports can help you make campaign-related decisions quickly and help you boost your revenue from advertising.