Over the years of working with different Amazon Seller clients as an Agency, we came across the budget limited request on a few occasions. Here is how to do Amazon PPC management when there is a limited budget spend.
Not just with starting sellers
The request is not just the starting Sellers (who still have their Amazon sales cashflow to be straightened out) who ask for this. A number of hitched and mono-product Sellers can fall back to this method of budgeting, die to their quantitative cash flow structure.
Amazon PPC Management with Limited Budget Request Must Use Greater PPC Skills
Either way, this kind of restriction of Amazon PPC calls for certain changes to be made to the classic PPC Campaign Structure. After all, you will be deliberately limiting the number of impressions your Ads will be receiving.
It’s best for business if you make all of these impressions count.
Step 1: Three Keystones of Good Amazon PPC Ads
⚠️ Spoiler alert — budget is one of them.
To build a strong foundation for a truly effective Amazon PPC Campaign, there are 3 important keystones. Only when worked on together, will they allow a Seller to make the most out of a limited budget.
Amazon Product Detail Page: Quality and Theme
Amazon.com is about letting buyers meet their perfect product. In fact, we’ve got a whole separate article like this on Amazon SEO. But to keep things simple, Amazon’s algorithm will be more likely to regard your ASIN as a good product if you help it out:
- The algorithm scans text on the Product Detail Page to index the ASIN against these keywords. Specifically, it draws on:
- At least 256 characters from product Title
- First 100 characters of every Bullet Point
- 250 characters from Backend Keywords
If you want to use specific keywords in your limited budget ads — make sure they are indexed. This helps to boost keyword ranking a lot from the get-go.
Product Picture 1. A good picture (that clearly shows your product will catch more eyes out of all customers who were searching for something like it. Thus — better Click Through Rate (CTR). And the algorithm takes note of good CTRs.
⚠️ Remember: a picture is considered “good” if the product is visible in any adverse conditions. Like on a small smartphone screen, outside, and on a summer sunny day.
Amazon Product Reviews. Other things being equal, be considered trustworthy, an ASIN should have at least 1/10th of the average number of reviews that top 5 competitors boast. If it’s less at the moment — the product will likely be losing some conversions from the more risk-avert customers. Even if the product itself is good.
The Amazon PPC Budget
Since this article is all about running Amazon PPC Ads with a limited budget, a Seller will have to work around some limitations manually. For example — she’ll have to run a larger/ a few shorter keyword research sessions at the beginning of the PPC Campaign.
Since the limited budget would not give her the luxury of running broad match or Auto campaigns and then study the Search Term Report to get those new targeting keywords and negative keywords out of it.
Amazon Relevant Keyword Research: Targeting Keywords and ASINs
Collecting a pool of relevant target keywords/ASINs is fundamental for the success of a limited budget for the Amazon PPC Campaign.
The more (out of hypothetical 100%) relevant keywords/ASINs you find during the research phase — the more you will have to choose from. In fact, this is our Step 2 in preparing to run a tight budget Amazon PPC Campaign.
Step 2: Amazon Keyword Research
Think of it this way: people are already using some words to describe your product. Some search terms used by the average person are pinpoint accurate. Other people use vague ideas and terms when they search. The individual can mean several things at once — but these search terms are used by real people who DO want to find a product like yours nonetheless.
Amazon.com is not easy on giving out those search terms everyone is using. It will only let you know what search terms people used to find your paid Sponsored Ads (via Search Term Report).
Naturally, if you are making your first Sponsored Product campaign — you just don’t have that yet. With a limited budget — you aren’t likely to get a too rich one in the future either.
Profound keyword research is the major step in preparing for a successful limited budget PPC campaign, as is knowing your negative keywords.
We assume that tight Ads funding indicates that you will also be limited in finances for the starting research. But just in case you are not, remember: there are a few perfectly viable keyword research tools that can help you cut some corners. For a price. “Merchant Words,” “Helium 10,” to name a few. Try them.
Whichever way you have chosen to get a hold of a pool of relevant potential keywords, they need to be tried out and tested in combo with your specific product before you are confident that you ARE leaving only the truly best-performing ones.
Unfortunately, some budget WILL have to be spent on this trial-and-error — there is no way around this.
But there is a way to make it worthwhile.
Step 3: The Magic of Amazon PPC Optimization
What is a good targeting keyword/ASIN?
ASIN is the one that generates sales at an acceptable cost. As simple as this.
Once you’ve completed step 2 — you should prepare for testing your discoveries. We are subject to make a clear and Strategy-oriented Amazon PPC Campaign Structure (see: profitwhales dot com, amazon campaign structure) from the get-go.
You may opt to disable the campaigns and ad groups that were built around keywords with worse than expected performance (leave them for later tests), but at least you’ll keep them in order.
As for the more aspiring keywords — they must be tried and tested.
We suggest running ads for at least a 7-day period before diving into the results to analyze.
Suppose the target keyword/ASIN in question is a good candidate for full-time Limited Ad Budget allocation. Here’s how we do it:
Look at the Impressions.
Impressions are governed by how many people have entered a search term that has triggered your keyword over a given period.
The other factor is the bid: set it too low, and many customers who made it to the Search Results page — may end up being abysmal.
But if you see some good figures (e.g., a hundred impressions a week) — then that keyword is valid. The only question now is…
What’s the CTR?
CTR of a keyword indicates how relevant your product title and your Pic 1 is to the text a customer has just typed into her Amazon search console.
Across many incidences, we’ve come to see that:
- CTR below 0.25% is indicative of an irrelevant keyword (or a VERY strong competition present);
- CTR between 0,25% and 1% means a keyword is reasonable;
- CTR above 1% means that the keyword is highly relevant.
Remember that showing you Ads on Top of Search placement changes all the CTR values dramatically. If that is where your product Ads end up — multiply the above approximate CTR thresholds by 3 to judge the quality of the keyword.
Now that we’ve picked the more product-relevant keywords, we need to see…
How well CTR converts (at what ACoS).
This is where we start separating the weeds from the grain.
Here’s how to make the keyword judgment call:
- If a keyword had 10-15 clocks and no sales — discard (pause) it;
- If there is a sale, you will need to wait for at least 3 (better 5) sales to make a further judgment, so be patient. Some long-tail, extremely relevant keywords could become a great and cheap sales-generating asset for your limited budget Amazon PPC Campaign. Even if they do generate 5 sales a month — it’s worth waiting to find out for certain;
- Any keywords that do generate sales but at ACoS 80%+ should be discarded (paused);
- For any keywords with ACoS between 80% and your break-even ACoS — it may be worthwhile to lower the bid and have them slow-burning. They are likely to generate you sales in the future at a reasonable ACoS each;
- For any keywords that perform at ACoS 5% or less than your break-even level… congrats. These are the candidates to go into your strict budget top-performing exact match type keyword campaigns. They will be the ones that will generate the bulk of your PPC sales.
Panning for Amazon Gold
You can make money on Amazon even with a limited budget, and that is your version of panning for the gold.
The above keyword testing is the only real way to confirm that every keyword’s worth it for your product and market circumstances.
Ensure you are giving at least 20% of that limited budget to running more keywords through the test. And direct the other 80% to feed the campaigns that contain already-verified ones that will generate you sales.
You can meet your business goals even within a budget.
Using careful product testing, you will always be on your business goals. This will allow you to hang on and not let go of a chance to eventually discover an even better targeting option that will be perfect for your ASIN.
Image Credit: karolina grabowska; pexels; thank you!
How Blockchain Is Being Used With Smart Buildings – ReadWrite
Whether you realize it or not, many of us live in buildings with some smart capacity. You probably have at least one smart device in your home.
With the smart device industry set to grow by $65 billion by 2024, the odds are, you’ll add more of these devices. The true potential of smart homes lies in the ability of smart devices to communicate together — and that’s where blockchain technology comes in.
How Blockchain is Being Used With Smart Buildings
On the surface, smart technologies make individual tasks easier, but the potential is much larger than that. A smart device is effectively a sensor able to collect significant amounts of data about everything, from your energy use to how well-stocked your fridge is.
Smart Technology Works Better in Swarms
On its own, this data is valuable; when combined with data from other devices, its usability becomes game-changing. A properly connected smart home would be able to automatically adjust the heating to your preferences while minimizing bills, ordering your favorite groceries, monitoring and adjusting energy usage, sending repair notifications if something breaks, and much more.
Internet of Things (IoT) technologies are already used extensively in supply chain management. They help efficiently manage products passed through multiple stakeholders and verify that products are what the label says they are.
Catching Slave Labor in Fishing Supply Chains
One example where smart technology has been useful is in tracking fishing supply chains. The World Wildlife Federation (WWF) has used IoT to track sustainable tuna fishing.
The Western and Central Pacific tuna trade is rife with illegal fisheries — and, in some cases, slave labor — because tracking is either done via an easily-forged paper trail or not at all. However, savvy consumers and brands are demanding more accountability from the tuna industry.
The WWF’s branches in New Zealand, Australia, and Fiji have combined forces with blockchain software studio ConsenSys to implement secure traceability and track to address the problem.
Radio-frequency identification (RFID) or QR codes capture information as a fish moves through the supply chain from the boat to grocers. Tracking information is automatically saved in blockchain, making it nearly impossible to forge.
Privacy and Compatibility Remain a Concern
Although smart technology has many uses in enterprise settings, it becomes a thornier prospect for individuals. IoT devices collect huge amounts of data which can reveal a lot about their owners. Additionally, they are often poorly secured, creating significant security challenges.
Most smart devices must run on centralized platforms controlled by major tech companies, notably Amazon and Google.
There have been significant privacy concerns about both companies due to their access to an extraordinary amount of personal data.
Amazon Alexa’s Vulnerabilities
Setting aside concerns about microphones, Amazon’s voice-activated assistant Alexa also presents other significant security concerns.
Although Amazon provides some privacy protections, with 100 – 200 million Alexa devices and over 100,000 skills already deployed, there is a significant concern about malicious developers taking advantage of security holes.
For example, developer names aren’t verified, allowing a malicious developer to stage a phishing attack posing as a different company. This risk is especially high with some skills that link to email, banking, or social media accounts.
After a skill has been approved and added to the marketplace, a malicious developer can change its coding without getting Amazon’s approval or notifying the customer. Many developers also have misleading privacy policies — or none at all, meaning that customers will have no idea how their personally identifiable information will be used.
Lack of Device Compatibility
The second challenge is compatibility. Early adopters are painfully familiar with the concept of device divorce, where two smart devices cannot speak with another. Part of the problem is that Amazon and Google are used as primary smart home controllers, and there isn’t a platform-agnostic solution widely available to most consumers.
Blockchain Technology is the Missing Piece of the Puzzle
Blockchain technologies are working to provide the solution to these challenges and others since they can enable P2P connections without the need for a centralized validator.
With blockchain, it would be possible to connect numerous smart devices without being forced to hand that data directly over to the device manufacturer, mitigating privacy and security concerns. It can also provide increased transparency over how data is used, helping users understand what data their smart home is collecting and what it’s used for.
Blockchain technology is also hardware agnostic. Thus, it would be possible for users to pair together devices from different manufacturers without worrying about compatibility.
IOTA’s Tangle vs. Traditional Blockchain
One of the best examples of this vision is the IoT-focused blockchain IOTA.
It is important to understand that we are not talking about financial blockchain technology like Bitcoin. Blockchains based on traditional Proof of Work (PoW), like Bitcoin, lack the speed and scalability necessary to process the millions of data points produced by smart devices.
Instead, we are looking at smart device-focused technologies, most notably IOTA. IOTA uses a Tangle specifically designed for data and value transfer.
Blockchains like Bitcoin are essentially long chains of blocks containing transactions. The Tangle, on the other hand, is constructed as a directed acyclic graph (DAG), which is a collection of vertices connected by edges.
IOTA’s implementation is designed in such a way that each new transaction (vertice) must approve two previous transactions when it enters the Tangle. This eliminates the need for Proof of Stake (PoS) or PoW consensus methods.
Because these transactions don’t require always-online validators, they are feeless and contain metadata that makes them suitable for micropayments and data transfer.
IOTA is interesting because the technology is more mature than many other IoT-focused blockchain solutions. The project has experienced past problems, but the roll-out of its improved Tangle has allowed it to secure some important partnerships, primarily in areas designed to improve transparency.
Properly Validating Smart Device Data Is The First Step
IOTA’s most important partnership for smart homes is undoubtedly Project Alvarium. The biggest challenge posed by IoT — and smart devices in general — is the sheer volume of data collected. The vastness of information makes assessing what data is trustworthy and useful difficult, especially in an automated environment.
To solve this problem, Dell and IOTA teamed up to create Project Alvarium, designed to provide a simple way to assess the trustworthiness of data gathered.
Project Alvarium’s system logs every datapoint as it travels across the system. Each interaction is given a trust rating, which is logged on the IOTA Tangle to prevent tampering. This provides a simple way to find problems or deliberate tampering within a network of data.
Blockchain Can Help Resolve Security Concerns About Smart Security
When smart home users are certain that they can trust the data being generated by their devices, it opens up a world of opportunities that could transform our daily lives.
The most immediate use of blockchain technology is in improving building security. The most high-profile problem is undoubtedly Amazon’s Ring. In late 2020, dozens of people sued Amazon over accusations that their Ring doorbells had been breached.
The breach enabled hackers to watch people inside their homes and talk to individuals in the house over the Ring speakers.
The Blockchain Difference
Blockchain has been shown to resolve both the problem of data breaches as well as hacking takeovers. Capturing a blockchain-powered device would require compromising the entire blockchain itself compromised.
But proper validation, such as that proposed by IOTA, allows malicious devices to be pruned from the network, significantly improving security.
Additionally, blockchain could enable consumers to understand how their data is being used, helping to make smart devices more privacy-focused.
Smart Building Management Solutions are Already Being Tested
The value of blockchain technology becomes even bigger at scale. One of the most impactful uses of IoT and blockchain technology is in building management. Whether for an apartment building or an office building, it’s often difficult to effectively manage a building’s heating, lighting, and security in a way that minimizes waste.
Example: How Blockchain Could Manage Heating Bills
In a traditional setting, most buildings are managed centrally. If there is a unified heating system, it is often controlled by the local administration. Although this system is more efficient than individually-heated buildings, there is significant room for human error. That’s because the system is not optimized to account for more efficient heating higher up in the building as heat rises.
A network of heating sensors could be used to automatically measure the temperature in each apartment or office in a building. If the different thermostats could communicate with each other, it should be possible to input all the data into a blockchain solution.
A scheme like this would allow the building operators to create a proper heat map of the building and understand the most efficient usage of energy. It would also enable residents to access the data and understand why the system works the way it does.
Theoretically, it could also enable a user to select a target temperature for their apartment by leveraging rising heat from lower apartments.
Solutions on the Horizon
This kind of project is already being tested. For example, Brickschain offers several products that minimize difficulties with building management and handover on sale. There are also an increasing number of studies looking at how blockchain can be positively implemented into the building management process.
The Future of IoT: Many-to-Many Marketplaces
When buildings are utilizing IoT devices and blockchains, a bigger opportunity opens up: decentralized marketplaces.
Currently, it can be difficult to get the best deal on energy or heating bills because it is a marketplace with many customers but only a few providers. Switching providers can be difficult and doesn’t guarantee a competitive rate.
However, with blockchain, it would be possible to change providers based on real-time pricing data. This setup would create a competitive many-to-many environment where many providers are looking to sell energy to many customers. The competition among providers would drive down energy prices and improve overall efficiency in energy markets.
Swedish District Heating Study
Sweden has conducted studies to investigate the utility of blockchain for a district heating market. The setup allows apartment blocks already utilizing blockchain to automatically select the most affordable provider at any given moment, minimizing bills without requiring micromanagement.
The same concept could be applied to many aspects of building management.
One interesting idea is the concept of decentralized governance. This type of network could empower tenants and apartment owners to vote on changes to their apartment block’s management proceedings.
For example, renters could vote in favor of using only green energy sources or for changes to living space regulations. Building administrators could then better understand their occupants’ needs and create a better living environment for all involved.
Blockchain Will be Needed to do IoT Correctly
Adoption of IoT and smart technologies will likely increase. Governments like the UK are already pushing hard on smart meters and many of us have already adopted some form of smart technology in our homes.
This rush to adopt new technology will undoubtedly come with significant scaling problems as well as security concerns and significant privacy issues.
Additionally, a market dominated by a handful of major tech companies like Amazon and Google could prove damaging to the consumer in the long term.
To counter these eventualities, we’ll need a platform-agnostic solution that allows a more diverse field of producers to create new IoT devices.
Blockchain technology still represents the best way to utilize IoT for everyone’s benefit. If solutions like IOTA are implemented into existing smart homes, then we could build a new decentralized marketplace that will give us better control of our data, while improving the efficiency of our homes.
Image Credit: pixabay; thank you!
Social Sign-on: Sure, it’s convenient. But is it really safe? – ReadWrite
Remembering passwords is always a hassle, especially when you have innumerable websites that require logging in to view or interact with their content. To make the process simpler (as little as a couple of clicks), webmasters worldwide have accepted and implemented social logins on their websites.
Social Sign-on: Sure, it’s convenient. But is it really safe?
So, what exactly is social login? How different is it compared to the traditional method of inputting your credentials such as username, email address and password manually? More importantly, is it safe enough for use on all kinds of browsing activities?
In this article, we answer all the above questions and more, helping you understand what social sign-on is, and what the disadvantages of this convenient method are.
The history of social logins
Social sign-on as a method of hassle-free authentication has been around for over a decade now. Back in the nascent days of the modern internet in 2008, Facebook launched Facebook Connect, a service aimed at simplifying registrations on websites.
Once webmasters enabled FB Connect on their websites, visitors to the site would no longer need to fill up lengthy registration forms to sign up for the website’s offerings.
All they needed to do was connect their existing Facebook account to the website, enabling direct access to the site with a click of a button.
In 2009 and 2010, Twitter and LinkedIn respectively enabled their users to socially login to other sites using their existing social network credentials.
Google+ followed suit in 2011, and although no longer active as Google+, it still supports social sign-on using a Google account.
While it all sounds very convenient, social sign-on has many drawbacks and challenges that impact both website visitors and website owners.
Social Sign-on: The challenges and disadvantages
The Trust Factor
Most internet users do not trust the websites they browse to store and utilize their personal information safely and responsibly. Often, website visitors are concerned about how the information they have shared will be used.
In a June 2020 survey conducted by Insider Intelligence, 32% of US Facebook users felt that they somewhat disagreed that the platform could keep their data and privacy secure.
People tend to be wary of the private information they share online; they often resort to uploading falsified or inaccurate information about themselves on social media.
Considering that these social media sites do not verify or vouch for the authenticity of their user’s information, this could be less than ideal for a website looking for accurate data while accepting new user registrations.
In 2019, Facebook released data that said that 16% of the accounts on its platform are fake/duplicate accounts created by individuals or companies. What’s more worrisome are the findings of the research team at NATO StratCom that suggest 95% of the reported fake accounts still continued to remain active, with no action taken by the social media website.
With no checks on the actual profile that’s being used to socially sign-on to your website, you could soon have an imposter, Donald Trump or Joe Biden signing up for your global warming newsletter or purchasing a bag of your freshly powdered Mexican coffee.
Not everyone’s social — nor on social
While we talk about social media, we need to understand that although it is a global phenomenon with an insanely large number (read 3.6 billion) of people using it, there is still a sizeable chunk (>50%) of the population that is not on social media.
Using a restrictive method, you risk alienating a section of society that could be your potential target audience.
Transfer of Power
Enabling social sign-on seems pretty enticing at first, considering it would cut down your authentication work significantly. But this very ‘benefit’ could end up costing you dearly, as you lose control over your visitors’ data to a third-party service provider, i.e., the social media network.
Should there be any downtime at the social media service’s end, your website visitors would be stranded, unable to login to your site or access their data?
Access Control Issues
Many internet access places tend to have controls in place when it comes to accessing social media. For example, corporate and educational networks generally block access to social websites. Certain countries like Iran, China, Syria, and North Korea have blanket bans on the most popular social websites.
Social sign-on still depends on an API call-back to the social networking site to authenticate the user. Thus, by having social sign-on set up on your website, visitors authenticating on your site through these networks would end up facing a website with broken functionality.
Social media accounts are often the target of several hacking and phishing attempts. Thus, if your user’s social media account is hacked, it could lead to their account on your site being compromised as a result.
A University of Maryland study revealed a hacking attempt every 39 seconds on average, affecting a third of Americans every year.
Hacked social accounts could have an adverse impact on your website as well, by performing activities that might eat up your server resources or corrupt your files, if your security is not up to the mark. Secure authentication is the need of the hour, and knowledge of the security practices will help solve these concerns.
Too much to choose
People use many social media websites, so keeping a single social login can be counterproductive. However, providing multiple methods to login could likely confuse or overwhelm your visitor, leading to lower conversion or sign-up rates.
Lesser data to work with
Using a social sign-on for your website would mean limited access to user data, especially email. Not every social media network allows websites to access the customer’s email address. For businesses that rely on customer information for lead generation, this would be a major deal-breaker.
Awareness of all the security practices and malpractices (sawolabs dotcom) will help educate users as well as the website owners.
If not social sign-on, then what?
All the above drawbacks would make webmasters question the efficacy of social sign-on. But then, is there a better alternative that does not include such shortcomings?
Say hello to passwordless authentication powered by SAWO Labs. A new-age solution designed to address all concerns of security, compatibility and functionality.
Image Credit: yellow graphic — from author; thank you!
Top Image Credit: karolina grabowska; pexels; thank you!
3 Ways Companies Can Be More Sustainable – ReadWrite
I’m thinking about our planet today — I think about our planet every day. Our planet is hurting, and many businesses are encouraging their employees to live more sustainably. According to the Environmental Protection Agency (EPA), industry and agriculture account for approximately 32 percent of direct emissions.
3 Ways Companies Can Be More Sustainable
Here are a few ways companies can encourage sustainability in their employees and work to lower the remaining 68 percent.
Employ a hybrid work model
With so many people working from home due to the COVID-19 pandemic, we’ve inadvertently been doing Earth a huge favor. The EPA shows that transportation is responsible for 28 percent of greenhouse gas emissions, with about half of that coming from personal vehicles that burn gasoline and diesel. Because many companies instituted a work from home policy, there were fewer cars on the road and fewer greenhouse gas emissions. Companies can continue this progress by instituting a hybrid work model once the pandemic is finally over.
Reduce waste in the office
One big way to reduce waste in the office is by offering snack and drink options that eliminate single-use plastic. For example, TechnologyAdvice uses a Bevi machine in the office, offering still, sparkling, and flavored water without single-use plastic. You might also consider snacks that don’t need to be individually packaged, like fruits or nuts.
While you may not be able to completely eliminate office waste, you can work to offset the waste you do generate. Make it easy for employees to recycle and encourage them to do so. You can create an employee-led recycling program, keep an “I don’t know” bin for those items that don’t always fall into the normal categories, and create challenges around recycling goals.
Continual education about climate change
However you decide to encourage sustainability in your office, it’s important that both you and your employees engage in continual education about climate change. Thanks to the different forms of media available today, educating yourself about climate change has never been easier.
For podcast listeners, consider checking out How To Save A Planet. It’s a Spotify original podcast hosted by scientist Dr. Ayana Elizabeth Johnson and journalist Alex Blumberg, and it is the exact opposite of what people think when they hear “climate change resource:” it’s inspiring instead of depressing, entertaining, so accessible, and has great intro music.
Another Earth-friendly podcast you should listen to is Stories for Earth, which examines how climate change is discussed in pop culture.
If you like documentaries, check out Before the Flood, which was made by Leonardo Di Caprio and National Geographic. If you are a reader, consider these three: No One Is Too Small To Make A Difference by Greta Thunberg, All We Can Save edited by Ayana Elizabeth Johnson and Katherine Hayhoe, and The Future Earth by Eric Holthaus.
Image Credit: karolina grabowska; pexels; thank you!