Amazon is simplifying its advertising products by grouping everything under one umbrella called Amazon Advertising as it looks to play a bigger part in the global digital advertising market.
All advertising tech – including Amazon DSP, Amazon Advertising Platform, Amazon Media Group and Amazon Marketing Services – will exist under the new brand, which aims to cut through the vast amount of products that were leaving users baffled by the variety of services offered.
While the name has changed, it hasn’t altered how the products function – the e-commerce retailer is hoping to make it easier for advertisers and agencies better understand the offerings and make better use of the tools on the platform. The move marks the company’s maturity as an advertising powerhouse and one of retail’s biggest channels. Last year, Amazon brought in $2 billion of advertising sales and is now many shoppers’ default search engine.
“This is another step towards our goal of providing advertising solutions that are simple and intuitive for the hundreds of thousands of advertisers that use our products to help grow their business,” said Paul Kotas, senior VP of Amazon Advertising.
It follows the likes of Google doing the same – Google’s DoubleClick products and Google Analytics 360 Suite were unified as Google Marketing Platform, while Google AdWords has reformed as Google Ads to simplify its tools.
Moving into price comparison space?
Amazon is reportedly considering launching a UK insurance comparison site and is sounding some of Europe’s top insurance firms to see if they would be interested in contributing products to a UK price comparison website. While there are no details about what sort of insurance would be sold, the move could help drive traffic to its other marketplaces.
However, a price comparison website could be a threat to existing UK sites, such as comparethemarket.com and GoCompare, given Amazon’s loyal customer base and reach in addition to the potential for premiums to be forced lower through competition, which could deter others already in the space.