Are you ready for Amazon Prime Day?
Amazon Prime Day has become one of the most significant online shopping events worldwide since its inception in 2015. Originally launched to celebrate Amazon’s 20th anniversary, this two-day shopping extravaganza exclusively targets Prime customers with thousands of deals and offers, and it has even surpassed the likes of Black Friday and Cyber Monday in terms of sales.
But as a seller or vendor on Amazon’s marketplace, what benefits does Prime Day offer you, and how can you make the most out of it? We have compiled a few tips for you:
Phases of Prime Day:
Before we go into more detail about how you can make the most out of Prime Day, let’s have a quick look at the different phases of this event and how they can influence your strategy when it comes to preparing for Prime Day:
- Lead-In Phase: in the weeks leading up to the main event, both sellers and customers gear up for Prime Day. Customers are more active, and traffic on the platform increases. How about leveraging this opportunity by implementing targeted advertising campaigns to reach a broader customer base?
- Prime Day: Prime Day itself is the main event, attracting millions of online shoppers and generating billions of dollars in sales over the course of two days. In 2022 alone, Amazon Prime customers spent over $12 billion during the Prime Day event. This year, Prime Day falls on the 11th and 12th of July 2023.
- Lead-Out Phase: In the weeks following Amazon Prime Day, focus on fostering brand loyalty with the customers you gained during the event. Excellent customer service, such as offering fast shipping, hassle-free returns/exchanges, and friendly support, can help create a positive shopping experience and convince your customers to return. And don’t forget to use all the data you collected during Prime Day to launch targeted advertising campaigns at consumers that might still need a little bit of convincing to make a purchase decision.
How can Prime Day benefit vendors and sellers on Amazon’s Marketplace?
While the “official” discounts primarily apply to Amazon-owned brands like Echo, Kindle and Fire TV, Prime Day is a great opportunity for all sellers and vendors of the Amazon Marketplace. Starting with the obvious, traffic and exposure increase drastically over Prime Day. Generated both through Amazon’s advertisements and social media announcements as well as customers’ own expectations, you can benefit from the influx of potential customers by strategically promoting your products.
Preparation is everything: with the right strategy and proper adjustments, you can gain greater visibility and higher rankings through targeted promotions, discounts, and advertising campaigns during Prime Day and beyond, and a positive shopping experience on Prime Day can strengthen the brand and encourage repeat purchase. This is especially advantageous for small sellers and vendors that don’t yet have an established sales history. In addition, with Prime Day targeted exclusively at Prime users, this provides a valuable customer target group: Prime users are akin to loyal customers for Amazon, who enjoy the perks of their membership, but also generally spend more as a result.
And even though Amazon Prime Day only runs on two days, you can take advantage of the data you collect during the event to leverage retargeting measures to achieve sustained long-term growth in revenue in the following weeks and months.
How do you prepare for Prime Day?
If you now want to make use of the opportunities that Amazon’s Prime Day can offer for sellers and vendors, here is a list of tips that our online marketplace experts have put together to help you prepare for Prime Day:
- Plan Marketing Strategies and Offers: Prioritize developing a marketing strategy, determining actions, discounts, and timing for your promotions. Ensure to replenish your inventory accordingly and plan for you Pay-Per-Click advertising campaigns.
- Fulfilment by Amazon (FBA) Sellers: For FBA sellers, it is crucial to ensure timely stock replenishment at Amazon’s fulfilment centres to avoid “out of stock” situations.
- Optimize Product Detail Pages: Before Prime Day, optimize your product detail pages by revising titles, bullets, A+ content, keywords, and other relevant information. This is especially important for best-selling products.
- Optimize your Brand Store: If you have multiple products on sale, consider optimizing your brand store to provide a cohesive shopping experience for your customers.
- Monitor Competition and Analyse Data: Keep an eye on competitors and analyse the data you are gathering, particularly during Prime Day, to stay competitive and offer the best prices (Buy Box). Use this data for future Prime Days to compare performance and plan new and improved campaigns.
- Adjust Advertising Budgets: Based on product analysis, make the necessary adjustments to your advertising budgets for pay-per-click campaigns, retargeting efforts, and other promotional activities.
- Analyse Previous Prime Day Data: If you participated before, analyse the data from previous Prime Days to gain insights and implement improvements based on past performance.
How can we help?
Amazon Prime Day presents a tremendous opportunity for sellers and vendors to boost sales, increase visibility and strengthen brand loyalty. But sometimes it can be a bit overwhelming to know where to start and how to get the best results. This is where our dedicated team can help.
Our Online Marketplace Experts have years of experience in managing our global customers’ presence on Amazon, reducing their workload in eCommerce, strengthening their brand presence, supporting them during major events such as Prime Day, and ultimately, increasing their sales. We can help you manage your online marketplace presence or simply support you with various aspects such as campaign management or product optimisation.
If you would like to know more about our Amazon marketplace services, and to find out how we can support you, why not get in touch with us today at +43 3112 3171-0 or send us an email to [email protected]?
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