Sponsored Products isn’t a “set it and forget it” service. You need to be consistent with your evaluations of campaigns and constantly moving with the market. We make certain aspects of Sponsored Products easy, but there is still work to be done on a daily, weekly, and monthly basis.
Review your ad metrics and performance on a daily basis. Compare metrics on the Campaign Explorer and see how your account performance is trending. You can also review your bid change history to see what changes were made in the last bid run.
Additionally, keep your eyes peeled for those “out-of-budget” alerts in Seller Central and increase budgets as needed.
Take keyword actions on a weekly basis. Look for the weekly email reminding you to come into the software and act on “add keyword” and “negate keyword” suggestions. You can also look for Opportunities on the home screen of Flywheel.
Review MACS and update as needed. Check historical performance to see what campaigns might need a new strategy. If you find that a particular manual campaign is not spending enough, consider raising your default bid at the ad group level.
Create new campaigns as needed and make sure you set a MACS once the campaign has been created in Seller Central (Review the Campaign Configuration Checklist before setting an MACS).
Oh yeah — don’t forget to be consistent with updating MACS, taking keyword actions, and updating your Organization Template. Remember, Sponsored Products is a marathon, not a sprint. And these actions will get simple once you get into the habit of taking them regularly.