- Media intelligence firm Kantar Media announced eCommerce Search Ad Insight, a new tool for monitoring and optimizing paid search performance on e-commerce sites. The tool will initially be available for monitoring Sponsored Ads on Amazon in the U.S., per a news release.
- ECommerce Search Ad Insight allows advertisers to compare campaign performance against their competitors' at the keyword level, which will help advertisers identify their strengths and weakness. Advertisers will also be able to identify new keyword opportunities for driving traffic and sales based on gaps in their campaigns and keyword search volume.
- This metric shows advertisers the products shoppers most often search for. The eCommerce Search Ad Insight tool is currently offered to a select group of clients, including GroupM. It will be available to the wider marketplace this spring.
Though Facebook and Google currently dominate digital advertising, Amazon is snapping up more market share, especially as its e-commerce business continues to grow and marketers put a higher premium on search advertising for its website. Tools like Kantar Media's eCommerce Search Ad Insight can help businesses using the platform better understand consumer behavior, as well as which competitors are advertising against a brand or product and who has the highest share of paid and organic results. This can inform future campaigns, helping marketers better target and tailor their efforts.
About 55% of consumers start product searches on Amazon, and about 90% report comparing product specs and prices from other sites to Amazon, per BloomReach data cited by CNBC. Along with the wealth of consumer data Amazon offers, it has the advantage of placement in an environment where consumers are already prepared to purchase. As a result, Amazon has been building out tools for marketers over the past several years, and Forrester recently forecast that it could eventually form a "triopoly" with Google and Facebook for digital advertising.
In its 2017 Q4 earnings report, Amazon said its "other" revenue — referring to advertising combined with co-branded credit card agreements — increased 60% year-over-year to $1.7 billion in the quarter. Forrester predicts the Seattle-based company's ad business will surpass $2.5 billion in revenue by 2021.