Amazon DSP is one of the retail giant's most powerful products. However, as helpful as DSP is for brands looking to leverage Amazon's stash of first-party data and reach a wider audience, ] tracking DSP ad performance to attribute to other channels accurately has long been a challenge.
DSP ads allowed advertisers to drive traffic to off-Amazon sites. But how would you track the impact of these ads when they were generating results outside of Amazon's realm? You couldn't. This is why accurate attribution for DSP ads was a problem.
Amazon solved this problem when it announced Omnichannel Metrics a few months ago.
What Are Omnichannel Metrics
Omnichannel metrics, or OCM, is an ad attribution solution that gives advertisers a more holistic view of their DSP ads' performance, helping them better understand the customer's path to purchase.
How Does OCM Help Amazon Advertisers?
As the customer journey gets more complex, it is harder to identify where the sale is coming from. But the rising difficulty does not reduce the importance of accurate ad attribution.
Knowing which ad is driving the metrics is critical to understand what ad tactics and creatives are working.
This was something difficult with DSP ads until recently.
Things have changed with Amazon's announcement of Omnichannel Metrics.
Here's how OCM helps advertisers run better campaigns:
Holistic Insights on Ad Performance
OCM allows advertisers to determine how their ads impact shopping activities across various channels by helping them attribute channel engagements and sales to DSP ads.
OCM can help you determine how many sales (or other metrics) your DSP ads drive across each of your channels, on and off Amazon, online and offline. This gives you a granular understanding of your campaign performance and provides the insights needed to steer your campaigns towards better results.
With OCM, you don't have to wait for the campaign to end to get the results. Amazon OCM supplies metrics in-flight, so you can see how your DSP ads are performing while they are still on and act quickly if something needs to be improved.
This enables prompt budget optimization and campaign readjustment and lets you work on increasing media investment ROI. If, for example, your ad is generating impressions but no sales, you may reevaluate your ad audience to target a different set of customers who may be closer to conversion.
In simple words, OCM's holistic and prompt performance reports allow you to rescue your campaigns before it is too late.
Amazon OCM also lets you set omnichannel metrics as KPIs. This enables automated budget optimization. Amazon tracks omnichannel metrics, measures them against your KPIs, and shifts your budget across your defined line items, allowing efficient use of ad spend and enhancing campaign performance in-flight for better business outcomes.
Full-funnel Campaign Measurement
DSP ads help you run full-funnel campaigns. OCM enables you to track them.
With OCM giving insights on customer behavior across their journey towards conversion, brands can measure the impact of their lower, mid, and upper funnel advertising strategies more efficiently.
This helps you develop better, full-funnel advertising campaigns that are targeted more precisely and align more closely with customers' preferences.
Actionable Measurements through Line-item Level Reporting
OCM allows line-item level reporting, which helps you determine the relationship between ad audiences, ad placement, and creatives on outcomes.
These insights are supplied in flight, so you get actionable insights to streamline your campaign on time for optimized results.
Omnichannel metrics are currently available in North America. You can access these metrics on demand through Amazon DSP Report Center, Campaign Manager, and Amazon Ads Public API if you are in the region.
Omnichannel Metrics are one of Amazon’s latest ad products that boost the value of DSP ads for brands that use them. Leveraging OCM is not a choice but a necessity for brands looking to improve their DSP advertising results. If you still haven’t, consider getting access to OCM to gain better understanding of your campaigns.
At Accrue, we make sure our advertisers stay ahead of the curve by keeping their toolkits up-to-date with Amazon's latest products. Our team designs ecommerce strategies to leverage Amazon's innovative products, empowering our customers to capitalize on the platform's advertising potential and grow.
Need to talk Amazon strategy? We are happy to help.