Andy Jassy recently gleefully shared increased profits for Amazon shareholders. Sadly, those profits came directly from Amazon Ads - which in turn come directly from your profits as an Amazon Seller. With the ever-evolving Amazon marketplace, it’s essential to optimize your ad spend to maximize returns. Here Steven Pope, manager of top Amazon agency My Amazon Guy, gives us his straightforward strategies to actually reduce your Amazon ad spend without cratering sales. Time Stamp [00:00] - Stick To What You Know For Amazon PPC[00:23] - Introduction To 10k Collective Mastermind[01:07] - Introduction Of Steven Pope From My Amazon Guy[01:42] - Scaling Amazon Advertising Costs[02:27] - Internal And External Advertising Strategies[03:41] - When To Look At Alternative Advertising Options[05:56] - Prioritizing Tasks For Amazon Sellers[07:24] - Focusing On Traffic Generation[08:15] - Sponsored Product Ads And Budget Allocation[09:25] - Rules For Keyword Negation[10:45] - Avoiding Fixation On Outdated Marketing Ideas[12:18] - Segmentation And Keyword Prioritization[13:50] - Dangers Of Excessive PPC Automation[15:57] - Simplifying Amazon PPC Accounts[18:20] - Importance Of Simplicity In Scaling Businesses[21:15] - Framework For Eliminating Keyword Cannibalization[23:00] - Day Parting Strategy For Amazon PPC[27:27] - Impact Of SKU Count On Business Sellability[33:39] - Overview Of My Amazon Guy Services Understanding Your Amazon Ad Spend Before diving into optimization techniques, it's crucial to understand your current ad spending patterns. Analyze your Amazon Seller Central account to identify key metrics such as: * Average Cost Per Click (CPC): How much you're paying for each click on your ads. * Click-Through Rate (CTR): The percentage of impressions that result in clicks. * Conversion Rate: The percentage of clicks that lead to purchases. * Advertising Cost of Sales (ACOS): The percentage of your sales revenue spent on advertising. By analyzing these metrics, you can pinpoint areas where you can make improvements. Leveraging the Amazon Ecosystem * Organic Search Optimization: Prioritize optimizing your product listings for organic search results. Use relevant keywords, high-quality images, and detailed product descriptions. * Amazon Prime Benefits: Encourage Prime memberships by offering Prime-exclusive deals or faster shipping. This can increase your product visibility and sales. * Amazon Brand Registry: If eligible, enrol in Amazon Brand Registry to access additional tools and benefits, such as custom store pages and enhanced brand protection. Exploring External Opportunities * Social Media Advertising: Platforms like TikTok, Instagram, and Facebook can be effective for reaching new audiences and driving traffic to your Amazon listings. * Influencer Marketing: Partner with influencers in your niche to promote your products and reach a wider audience. * User-Generated Content (UGC): Encourage customers to share their experiences with your products on social media. This can help build trust and credibility. Determining the Right Focus When deciding where to allocate your resources, consider the following factors: * Spend: If you're spending over $50,000 per month on Amazon ads, exploring alternative channels might be beneficial. * Category: The competitiveness of your product category will infl...