Momentum Commerce helped IQBAR deploy a sequenced strategy with sponsored ads to reach and convert new buyers during Prime Day

IQBAR Sponsoreds Brands campaign ad

IQBAR launched on Amazon prior to their partnership with Momentum Commerce. While growth had been strong, by 2022, the company was facing powerful headwinds in the category. Breaking through with consumers in the face of competition from other independent and large brands became critical to driving sustained success.

Prime Day 2022 represented the first major retail event for IQBAR while working with Momentum Commerce. Along with IQBAR’s leadership team, Momentum Commerce’s goal for Prime Day 2022 was driving new customer acquisition and revenue growth to set the stage for a successful Q3 and Q4 period on Amazon. Within the Grocery and Gourmet Food category, both Momentum Commerce and IQBAR understood the importance of a multifaceted strategy that would help spark demand with potential customers prior to Prime Day, and help capture that demand during Prime Day through a combination of discounts and advertising activity.

Momentum Commerce and IQBAR’s approach was centred around Sponsored Products, with supporting activities across other Amazon Ads products and promotions. First, Momentum Commerce increased spend a week before Prime Day to capture customer demand while they were researching, allowing ads to run at a less efficient total advertising cost of sale (TACOS). Then, they continued to ramp up spend through the day before Prime Day, which became the highest non-holiday revenue day in history for IQBAR.

Throughout Prime Day, Momentum Commerce monitored budgets and top-of-search placements on select keywords. To further encourage conversions during this peak period, IQBAR’s entire catalogue was discounted over the entirety of Prime Day. For a week following Prime Day, Sponsored Display spend levels were kept steady to reach relevant customers beyond those who are shopping.

Reporting via Amazon Ads API, the Selling Partner API, Seller Central and Amazon Brand Analytics helped Momentum Commerce effectively adjust budgets and targets based on performance so that IQBAR could meet their goals for Prime Day. Following Prime Day, IQBAR and Momentum Commerce were well positioned to engage these new shoppers into repeat customers.

Here are more details on IQBAR and Momentum Commerce’s full-funnel approach during this Prime Day campaign:

• Sponsored Products: To promote brand discovery across the largest pool of potential customers, the pre-event phase focused on increasing spend tied to high-volume, relevant non-branded keywords on top of the brand’s usual advertising dedicated to its own branded keywords. On the day of Prime Day, Momentum Commerce monitored budgets and top-of-search placements on select keywords.
• Sponsored Brands and Sponsored Brands video: To compellingly showcase IQBAR brand to in-market customers during Prime Day, Momentum Commerce significantly increased Sponsored Brands and Sponsored Brands video campaign spend across top converting unbranded and branded keywords.
• Sponsored Display: During the Prime Day event, Momentum Commerce layered in Sponsored Display audience campaigns to engage potential shoppers. By utilizing product targeting campaigns, IQBAR and Momentum Commerce were able to effectively engage in-market customers during Prime Day and help maintain those customers following the sales event.

During Prime Day 2022, IQBAR’s total sales on Amazon rose by 194% compared to the prior 30-day two-day average.¹ Over the same period, Momentum Commerce optimizations helped IQBAR’s advertising cost of sales (ACOS) rise by only 15%, while new-to-brand sales increased by 104% from Sponsored Brands and 291% from Sponsored Display.²

Digging deeper into the results, it was clear that focusing on a handful of valuable keywords was a major contributor behind IQBAR’s Prime Day success. Knowing which keywords are effective in regards to ranking, and focusing on securing top-of-search placements for these keywords, will be a focus of Momentum Commerce and IQBAR for future deal events.

Momentum Commerce and IQBAR’s multifaceted strategy drove knock-on effects after Prime Day as well. For months following the event, IQBAR’s ad sales steadily increased with maintained efficiency. This contributed to the brand’s top ASIN capturing the No. 1 best-seller spot in the high-protein bar category just a few months later. These results demonstrated for IQBAR and Momentum Commerce that Prime Day can be a strong shopping event for their CPG brand.

Amazon Ads is a major lever fuelling IQBAR’s growth, and Momentum Commerce’s work during Prime Day has helped take us to another level. They’ve been a terrific partner helping us get the most out of our Amazon ad budgets, alongside ensuring digital shelf always speaks to how customers are shopping and buying on the retail site.

– Will Nitze, founder and CEO, IQBAR