Here’s The Latest News On Amazon’s $31 Billion Advertising Business,
Which continues to grow despite the turmoil in the economy.
Amazon has grown to become the third largest digital advertising company, just behind Google and Facebook and has surpassed $31 billion in revenue from advertising in 2021. In the third quarter of 2022, advertising revenue grew by 25% over the previous year. It was the only contrast to the slowdown that most of the industry’s ad businesses faced due to the economy’s volatility.
Under the leadership of CEO Andy Jassy, Amazon is altering its ad strategy to draw TV advertising dollars, particularly from those who don’t offer their products through Amazon. It’s also exploring new avenues for advertising that include ads within its stores in physical Whole Foods stores. The company’s growth has prompted Walmart, Instacart, Walgreens and others to create their retail media platform retail media platforms.
This is the latest information on Amazon’s latest moves to expand its advertising business and the growing competition.
Amazon’s advertising industry is massive and growing. Advertising is only a tiny part of Amazon’s overall business. However, it’s among Amazon’s most rapidly growing areas. Amazon is continuing to cut down the budgets of advertisers’ search campaigns which are mainly destined for Google. The company is also increasing its video and audio sales pitch.
Who manages Amazon’s ads business?
Amazon has created an executive team to advertise to advertisers, including people like Alan Moss and Colleen Aubrey, as well as brand and agency experts who directly work with marketers.
Amazon’s fight for advertising dollars
Other large retailers and delivery companies like Walmart, Albertsons, and Instacart are trying to establish their own advertising companies.
How can advertisers use to navigate Amazon?
Marketing professionals have complained Amazon is difficult to navigate because the company’s structure created the creation of a niche industry of companies. Amazon has introduced buying tools, increased its presence at industry events and hired top agency talent to woo advertisers.
Amazon is currently hiring ad talent.
Amazon is hiring more staff in the field of advertising. However, the lengthy process of interviewing and its unique culture could make it difficult for anyone from outside to make it into the company.