In 2023, 30,000 new products launched but only 5% succeeded, according to a 2023 Harvard Business Review study of product launches across U.S. sales channels. This demonstrates the importance of having the right marketing strategy in place from the outset. As a leading destination for product discovery, Amazon has a unique ability to help brands successfully launch new products. New product campaigns is a fully-managed service that helps brands quickly introduce new products to customers within the first 90 days of their launch, through advertising placements across Amazon’s properties and leading broadcasters and publishers.
New product campaigns helps customers discover and learn about new products through clear and consistent messaging in the places they’re choosing to spend time—so, they can move from awareness, to consideration, to purchasing great products they want or need. For example, a customer could see an ad for an easy-to-use espresso machine while watching Prime Video. A week or so later, the customer may hear an ad for that espresso machine on Amazon Music and learn it’s designed to save counter space. The next time they’re shopping in the Amazon store, they may see a display ad for the same espresso machine that highlights it’s Prime-eligible. At this point the customer is more familiar with the product, putting them that much closer to a purchase. Brands that have used new product campaigns have seen up to a 9% increase in their sales growth rate week-over-week, accelerating a product’s existing sales trajectory.
Once a product is launched, advertisers need solutions that enable them to both continue acquiring new customers and engaging prospective customers as they move through the funnel, on an ongoing basis. According to a study by Boston Consulting Group, on average, advertisers need to reach customers at least 20 times before they make a purchase. To help advertisers do this more efficiently, Amazon Ads has expanded the ability to re-engage audiences reached on streaming TV through Sponsored Brands and Sponsored Products ads. Advertisers using Amazon Marketing Cloud (AMC), secure clean room technology from Amazon Ads, can now adjust their Sponsored Brands and Sponsored Products bids specifically for audiences who have seen their streaming TV ads and also visited their website, for example, focusing their investments on these high-value customers.
“For over a century, Newell Brands’ products have been a trusted presence in households around the world. When we launched our latest products, we knew we needed a strategy that could effectively reach audiences across multiple platforms, and partnering with Amazon Ads made that possible. Amazon’s full-funnel approach for new product campaigns has helped us reach customers wherever they are—whether they’re watching Prime Video or browsing Amazon,” said Michal Geller, President of eCommerce & Digital at Newell Brands.