For many years, the only option that 3P sellers had to advertise on the marketplace was through sponsored products. Now, while sponsored products are the most familiar advertising option for many, there are a number of new ad placement options that brands can consider. Some of those new ad spots are product display ads, headline ads, and video ads. Your brand should consider focusing on these other ad placements, as many advertisers I work with still shy away from them.
This is true especially for video ads — because they are so new, competition may be comparatively low. As you are considering your ad spend in 2020, make sure that your group has a plan for all ad types. The ideal step to take would be to set up ads in each of these ad types to start gathering performance data.
Start with low CPC bids. For product display ads, target competitor Amazon Standard Identification Numbers (ASINs) where your product is clearly less expensive, provides more benefits, includes a greater amount or quantity or has more total reviews. This should help boost your performance.