Ad campaigns can make or break your marketing efforts, but how do you know if they're doing well? Most of us might first look at the conversion rate - basically, how many people are buying after seeing your ad. But there's a less frequented yet insightful metric that stands out: Time to Conversion (TTC). Think of it as the time it takes for someone to interact with your ad to thinking, "I need to buy this!". The time it takes can be different based on what you're selling or what kind of ad you're using. For instance, it might be different for an Amazon display ad versus a Sponsored Product.
TTC and Amazon Marketing Cloud
TTC is a big deal on platforms like Google and Facebook. But on Amazon? Not so much. That was until Amazon Marketing Cloud (AMC) stepped in. With AMC, you get a front-row seat to watch how long it takes someone to buy after seeing your ad. And with this information, you can optimize your ad campaigns and retargeting strategies, making the best use of your ad spend.
Using TTC to Boost Your Campaigns
Knowing your TTC can answer a lot of "whys" and "when's" about your ads. It can guide you on when to remind people about your products, how to split your ad budget, and even when to give credit to an ad for a sale.
For example, ever thought of sending a gentle nudge to shoppers who checked out your products but didn't buy? That's called retargeting. And the timing? Super important. Studies reveal that if you remind them within two days, you have a better shot at making a sale. So, if you notice most people buy 36 hours after seeing an ad, maybe wait a bit before sending that reminder - timing is everything.
And here's another fun fact: Different ads have different TTCs. Some ads, like Amazon's Sponsored Products that are closer to the bottom of the sales funnel, might get people to buy faster. However, by understanding TTC for every ad type, you can be more effective about your audience targeting and media mix strategy planning.
Adjusting the Attribution Window Using TTC
Amazon usually gives credit to an ad for a sale if the purchase happens within 14 days of clicking the ad, with a shorter 7-day window for Sponsored Products ads on Seller Central. If a purchase is made 15 days after interacting with your ad, the ad won't receive credit for influencing the sale. However, with AMC, you can now stretch this attribution window to 28 days. So, do you need that extra time? If you see that most sales happen within the first 14 days, maybe not. But if day 15 to 28 is a goldmine, then why not?
Wrapping Up
Time to Conversion is like a backstage pass to your customer's journey. It helps you decide when to retarget them, where to allocate your ad money, and how long to give credit to an ad. By leveraging AMC data and the right analytical tools, you can make your ads shine and hit your goals.
Are you ready to take your ad campaigns to the next level? Sign up for a demo of Xmars’ AMC Solutions today!
