We’re only a few weeks out from Amazon Prime Day, and if you want to leverage this lucrative opportunity, the time to start planning is now.
In the last few years, Prime Day has seen a massive evolution. It’s gone from a single-day effort to drum up slow-season sales to an unstoppable weeklong marketing event — and the competition is getting stiff.
Last year’s Prime Day alone brought in more than $3.6 million in Amazon ad sales, and the day after brought in only slightly less.
Want to make sure you get your piece of the pie during Amazon’s 2019 Prime Week?
Here’s what you need to know.
Leveraging 2019 Prime Day
Prime Day now reaches millions of customers across the globe. And thanks to Amazon’s heavy investment into TV, radio and digital advertisements, this year’s Prime Week is poised to be as successful as ever.
If you’re interested in participating, it’s important to start planning ASAP. Amazon starts accepting submissions for Lightning Deals and Deals of the Day as early as April, so honing your strategy is key.
To start, you’ll want to determine which products you’ll focus on promoting during Prime.
The ideal products are ones that:
- Are in stock and easily replenishable
- Have at least 15 reviews
- Have a 3.5-star rating or higher
- Include optimized images
- Include branded and keyword-optimized content
Products that meet these requirements are considered “retail ready” and will likely make good Prime Day candidates. Just make sure to assess their price, shipping method and review quality first, as these will all influence purchase decisions and, ultimately, conversions.
I tend to see more success with sellers who push their best selling items. Keep in mind, if you are applying for an Amazon promotion, some of those older styles or models (aka products from last season) will get denied by Amazon because typically that’s not what customers are looking for.
– Jordan Gisch, Sr. Marketplace Channel Analyst at Tinuiti
Don’t forget to prep your inventory, too. Generally, you can expect Black Friday and Cyber Monday numbers to fall in line with Prime Day’s, so if you have data regarding these events, use it to determine your inventory strategy for Prime.
Advertising Your Prime Promotions
Advertising during Prime Week is competitive (and expensive), and 2018’s stats are the proof.
Last year, Prime Day resulted in a 33% increase in ad sales, a 49% increase in spend and a 10% increase in average CPC.
With these sorts of prices, it’s vital you have a smart advertising strategy in place if you want to use that budget best. This means:
- Focusing your efforts. Don’t advertise every SKU. Refine your list and focus on the ones that are retail ready and have serious sales potential.
- Appropriately allocating your budget. Make sure you have the budget to fully capitalize on the Prime Day opportunity. If you need to pull budget from your slower August month budget and pour it into July, do so.
- Staying on top of your campaigns. Allot time throughout Prime Day (and all of Prime Week) to check in and manage your campaigns. Pay close attention to your bids and budget, and be sure your ads have enough steam to capture that post-work crowd.
- Letting data guide you. Don’t make your budget and advertising decisions blindly. Use past campaigns and metrics to guide you. Look at data from the last 30, 60 or even 90 days to determine your best path forward.
- Creating a subcategory page devoted to Prime. If you have a storefront page, consider creating a dedicated Prime subcategory. Use it to feature your Prime Week deals and discounts, and treat it as your landing page for all things Prime. You can even use it on outside ad efforts, like those on Google, Facebook or Bing.
- Retargeting to past customers. Prime ads are perfect for retargeting efforts, especially if you’re offering a discount or launching a new bundle.
You should also be sure to create your campaigns well in advance of Prime Day. Amazon is hit with a huge influx of ad requests as Prime approaches. Getting your ads in early can put you at the top of the queue and ensure timely approval.
You might also want to consider offering a special promotion, like a Lightning Deal or coupon.
Lightning Deals allow you to prominently display your discounts, are often featured in Amazon’s emails to customers and can even win you the Buy Box. They can also help you drum up more ratings and reviews — both of which help with conversions.
Regardless of how you choose to approach it, one thing’s for certain: Now is the time to start planning.
Prime Day is less than a month away, and a solid, well-planned strategy is crucial to standing out in this highly competitive promotion.
For more information about Prime Day 2019, email [email protected].