Prime Day dates have officially been set. The dates for Prime Day are July 12th and 13th. If you’re thinking to yourself, “now what?” Let us assist! Here’s the Amazon Prime Day guide to assist you in preparing for the big day in as well off Amazon.
The first important question: What exactly is Prime Day?
Prime Day is an annual shopping event created by Amazon and has traditionally over-performed Black Friday and Cyber Monday in terms of total sales on Amazon. The year before, sales totaled above $11 billion over the two days of Prime Day, up 7.7 percent over last year. If you think this is because of the enormous companies selling on this platform, think twice! Small and midsize enterprises made around $2 billion in revenue last year. This proves that every business must prepare for Prime Day, regardless of size or petite. Prime Day is ready.
Why should you participate in Prime Day?
The positive impact that participation in the event’s prime day can have on your business extends beyond the two-day event because it’s an excellent opportunity to gain new customers and get people who are considering your product to buy. In 2020, there was a 3.1x average increase in the number of shoppers who were brand new in the US compared to previous weeks.
What steps can you take to ensure you are Prime Day-ready?
To prepare for the event here at Power Digital Marketing, we suggest you follow the entire route to an Amazon Prime Day marketing approach. Amazon has declared, “75% of shoppers are likely to purchase a product during Prime Day that they discovered during the lead-up to the event” Therefore, it is essential to be everywhere and all over the place before the Prime Day event.
On Amazon
Take a look at your inventory to decide what products you should promote. The most disastrous thing that could occur is you run out of stock and lose the momentum and speed into which you’ve put your effort and funds. After you’ve decided on the products you’d like to focus on, create coupons or promotions. To celebrate Prime Day, you can run several Prime Day deals, but with specific cut-off dates between the latter half of May and the beginning of June, these are no anymore an alternative. The most effective strategy is to have coupons created and then submitted since this is possible on the two platforms: Vendor Central and Seller Central. The Amazon Marketing department here at PDM recommends discounting your product by at least 25% to differentiate you from your competitors and give you substantial performance improvements over the “normal” Prime Day Buffer.
Create an advertising plan using Sponsored Products, Brands, and Sponsored Display advertisements. If you’re operating DSP, plan to run targeted campaigns on prime days before, during, and following the event. Read on to learn our recommendations for a strategy on both the search and the display side.
Create new creatives for your brand store A+ content advertising, SB ads, and posts. Amazon gives brands to build a more substantial presence on Amazon, so make the most of it.
Off Amazon
Preparing for the event that is a significant day on Amazon is essential. Still, developing an Off Amazon strategy is as vital to take full benefit of the event. In 2020, for instance, advertisers who used multi-channel. One-channel campaigns had an increase of 250% in purchase rates. To begin, use Amazon Attribution, which allows you to assess how the traffic from multiple channels you direct to Amazon affects your overall effectiveness on Amazon. If you are using the attribution tool, you must set the attribution tool up ahead of time so that you can effectively measure the impact in your cross-channel Amazon advertising campaigns.
To advertise Prime Day deals on these different channels (social media emails, sms messages, etc.), allow them to be clicked and include a “Shop this product on Amazon” or Amazon Add to Cart button in the ad’s marketplace. All ads should be direct to Amazon; therefore, in your copy, you should refer to the two Amazon in addition to Prime Day. When creating your ads, you should use images that reflect your lifestyle, showcase your product or any other video content, and include an Amazon logo. This will make your ads appealing and make it easier for your buyers to understand where they are directed once they click on the advertisement.
Power Digital also recommends matching any offers on Amazon on your website or, at a minimum, offering a small request because Prime Day has historically impacted brands’ principal websites. It is essential to remember that Amazon does price-match across the internet, meaning that anything you place on the Amazon site should be matched with your website.
Regarding budgets, if you are looking at only a limited amount of money to utilize in your Prime Day lead-up and event, shift the incremental cash to your Amazon ads, as the traffic will be concentrated on the website. However, even a tiny portion of your budget for other traffic-related campaigns can significantly differ over the two days.
When you are using Search ads, make plans ahead! We suggest you begin the campaign about a week before Prime Day to allow them to increase their effectiveness before the big day. Be aware of the days before Prime Day, as CPCs/CPMs will likely rise while conversion drops as people begin planning to plan their Prime Day shopping and hold off on purchases until the event day.