Increase your brand’s visibility on Amazon with Share of Voice
By Hannah Hughes on April 7, 2022
High performing keywords are one of the factors that impact your Share of Voice. But it’s not the only thing.
To best optimize your advertising, it’s crucial to understand not only what Share of Voice is, but the strategies you can employ on Amazon to increase brand visibility and drive market share.
In this blog, we’ll walk you through:
What is Share of Voice (SOV) and why does it matter?
Share of Voice strategies on Amazon
Implementing Share of Voice with Perpetua
What is Share of Voice and why does it matter?
Your Share of Voice (SOV) is the percentage of your brand visibility against your competitors. It indicates how much you dominate in your space both organically and paid, and allows you to track your competitors in the same space on Amazon.
With 70% of Amazon consumers browsing and purchasing from the first shopping results page on Amazon upon searching for a product, it’s crucial that your products appear on the first page. This means that if your brand appears on consecutive pages via non-branded keywords, it doesn’t seem as relevant to customers, even if it should be.
Share of voice strategies on Amazon
Leverage Keywords & ad types to drive brand visibility
While greater Share of Voice on Google or Amazon may not automatically translate into more sales, it indicates your brand’s popularity and authority among your existing and prospective customers. In fact, conversion rate, which is the percentage of your sales that came from ads, is the key indicator of keyword relevance within Amazon. This is why beginning your advertising efforts with a strong keyword strategy is the first and most important step.
Simply put, if you do not include relevant keywords with a highly targeted ad strategy behind them, your brand cannot rank for them. And combining both your paid and organic efforts helps to increase your Share of Voice.
Keyword and ad type strategies to consider:
Identify & target elite keywords to refine existing ad campaigns
Track your campaign keywords to understand your Share of Voice against your main competitors
Protect your branded keywords to guard your Share of Voice from the competition
For non-branded keywords, use both short and long-tail ones, the latter of which is probably more specific to your brand
Place your non-branded keywords into these ad types: Sponsored Products and Sponsored Brands
Use Sponsored Product ads that target your elite keywords to maximize the chances of landing in the top 1 - 4 placements on Amazon’s shopping results page
Use Sponsored Display ads that target your competitors’ ASINs
Run your ads with dayparting if you believe that they perform most optimally during set times in any given day
Within Perpetua, you can monitor the success of your strategies and efficiently customize your bidding strategies by tracking hourly Share of Voice data for both paid and organic efforts directly within the platform.
Ensure your Product Detail Page is retail ready
Make sure each of your ASINs within your Product Detail Pages are retail ready and show informative, correct, clear, and engaging information within all of your ad’s text, and includes a sufficient number of high quality images.
Leverage A+ content available to brand owners and sellers that are a part of Amazon’s Brand Registry to showcase crucial product information and highlight additional items that are likely to affect buying behaviour on your Amazon’s Product Detail Page.
Ensure you include:
Your available inventory, and
Promotions and vouchers to increase customers’ interest to purchase
These factors will directly impact visible information that customers see in your ads such as customer reviews, Amazon Best Seller Badges (if obtained), and as a result, your ad ranking and conversion.
Implementing Share of Voice strategies with Perpetua
With Keyword Boost, you can select strategic keywords and promote them in single keyword campaigns with Perpetua’s Top of Search Multiplier. This involves specifying a target ACOS and budget to the dedicated keyword campaign. We recommend using Keyword Boost for flagship category keywords, to increase the chances of your ad appearing in top-of-search placements and in turn, helping you organically rank higher on those keywords over time.
Bid adjustments on your elite keywords in your campaigns
After you’ve picked your top performing or those that you believe will be top performing keywords to boost at the single keyword campaign level, Perpetua enables you to either use the multiplier, as mentioned above or fixed bids. While the multiplier will dynamically adjust your bids with its algorithms, the selected multiplier remains. In contrast, a fixed bid allows you to set a static dollar value in increasing your bid.
Competitor conquesting with advanced targeting and custom goal setting
While it may be more expensive to bid on your competitors’ keywords or their ASINs, advanced targeting within Perpetua allows you to set distinct ACOS and budget targets in the segments of branded, competitor, and category. With clear segmentation, you can bid on keywords as well as ASINs across these segments. You can start by targeting single ASINs that include a small selection of keywords to dominate top-of-search results and eventually climb organic rank on those keywords. These methods aim to increase your share of voice, which again, include the reach of both paid and organic results.
Interested in learning more about how Perpetua can help your brand increase share of voice in Amazon? Email us at firstname.lastname@example.org.
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