How To Create Amazon Deals & Coupons in Seller Central
As an Amazon seller, you know the importance of getting your products seen. But with millions of listings, how do you stand out from the crowd?
Here’s where Amazon Deals come in, your secret weapon to boost product visibility, clear inventory, and boost your sales.
In this blog post, we will discuss different types of Amazon deals, explain how they can boost your sales, and walk you through the steps of creating your own winning deal.
Types of Deals, Coupons, and Discounts
There are primarily five different types of deals that you, as an Amazon seller, can set up in your account. By understanding the nuances of each deal type, you can craft a strategic mix that propels your Amazon business forward. Here is what each deal type means and how it works:
1. Lightening Deals
Imagine a flash sale on steroids. That’s the essence of a Lightning Deal. Your product gets featured for a limited time (usually a few hours) with a deep discount, creating a sense of urgency and excitement for deal-hungry shoppers. A countdown timer ticks away, and a progress bar shows how much stock remains, further fueling the buying frenzy.
Pros:
- Explosive Sales Boost: Lightning Deals can generate a significant sales surge in a short window, propelling your product to the top of search results and boosting brand awareness.
Cons:
- Competitive and Costly: Landing a Lightning Deal requires a competitive bid and a significant discount, making it less suitable for products with low margins. Availability is limited, so securing a spot can be challenging.
- Inventory Management Crucial: You need to have enough stock to fulfill the potential surge in demand. Running out of stock before the deal ends reflects poorly and can hurt your seller rating.
2. Prime Exclusive Discounts
This deal caters specifically to Amazon Prime members, a massive and loyal customer base. You offer a discount on your product, but only for Prime members, giving them an incentive to choose your offering. The Prime badge next to your product adds a layer of trust and exclusivity.
Pros:
- Targeted Reach: Tap into the spending power of Prime members, who are known to spend more frequently.
- Increased Conversion Rates: The Prime badge often translates to higher conversion rates, as shoppers perceive Prime-exclusive deals as more trustworthy.
Cons:
- Limited Audience: You miss out on non-Prime members, who might be a significant portion of your target market.
3. Subscribe & Save Deals
This deal focuses on building long-term customer relationships. Shoppers can subscribe to receive regular deliveries of your product at a discounted price. It’s particularly effective for consumable or regularly used items.
Pros:
- Recurring Revenue Stream: SNS fosters customer loyalty and generates predictable recurring income.
- Reduced Marketing Costs: By retaining customers, you spend less on acquiring new ones.
Cons:
- Lower Initial Sales: You might see a dip in initial sales as customers opt for the subscription model.
- Inventory Planning: Ensure you have a steady stock flow to meet recurring subscription deliveries.
4. Coupons
Coupons offer a flexible way to attract new customers, reward existing ones, or clear out slow-moving inventory. You can set specific criteria for coupon use, such as minimum purchase amount or product category.
Pros:
- Highly Customizable: Tailor coupons to specific audiences, products, or marketing goals.
- Trackable and Measurable: Monitor coupon usage to gauge their effectiveness in driving sales.
Cons:
- Management Overhead: Creating, managing, and distributing coupons can be time-consuming.
- Potential for Discount Fatigue: Overuse of coupons can erode profit margins and train customers to expect discounts.
5. Bundle Deals
This strategy involves grouping complementary products together at a discounted price. It entices customers to purchase multiple items, increasing your average order value.
Pros:
- Increased Average Order Value (AOV): Customers are more likely to spend more when they perceive a good deal on a bundle.
- Inventory Clearance: Pair slow-moving items with popular ones to boost sales of both.
Cons:
- Careful Product Selection: The bundled products need to be genuinely complementary to avoid confusing customers.
- Profit Margin Management: Ensure the bundled price still offers a profit after factoring in individual product costs.
Eligibility and Requirements for Prime Exclusive Discounts
- Fulfillment: Your product must be fulfilled by Amazon (FBA).
- Rating: Your product must have at least a 3-star rating or no rating at all.
- Discount Depth: The discount must be at least 10% off the non-Prime member, non-promotional price (within the lowest price in the last 30 days). For Prime Day discounts, the minimum goes up to 20% off.
- Discount Cap: The discount cannot be more than 80% off.
- Prime Exclusive Price: The discounted Prime price must be at least 15% lower than your reference price (which is usually your wholesale price).
- Product Restrictions: The product cannot be restricted or offensive.
How to Create Prime Exclusive Discounts on Amazon Seller Central
Step 1: Head to Seller Central and log in to your Amazon seller account.
Step 2: Click on the “Advertising” tab from the top menu. From the Advertising options, choose “Prime Exclusive Discounts.”
Step 3: Click on the ‘Create Discount’ button.
This will initiate the discount creation process.
Here, you’ll provide specifics for your discount:
- Discount Title: Choose a clear and informative title for your discount (e.g., “Summer Sale – Prime Exclusive”).
- Discount Dates: Set the start and end date/time for your discount offer (maximum duration is 60 days).
Step 4: Next, you can either manually enter the ASIN (unique product identifier) for each product you want to include in the discount or upload a file with multiple ASINs.
Step 5: Click the “Validate Products” button to ensure your chosen products meet the eligibility criteria.
Step 6: Once everything looks good, review the details and click “Submit Discounts” to activate your Prime Exclusive Discount.
How to Create Coupons on Amazon Seller Central?
Step 1: Head to your Amazon Seller Central account.
Step 2: Click on the “Advertising” tab from the top menu. From the Advertising options, choose “Coupons”.
Step 3: If it’s your first time, you’ll see a prompt to “Create your first coupon.” Click that button. If you’ve created coupons before, you’ll be on the Coupons dashboard. Click the “Create a new coupon” button.
Step 4: Next, you need to select the products.
- You can add products by entering their ASIN or SKU. You can include up to 200 unique product identifiers.
- Alternatively, for a large number of products, consider using the “Create in bulk” option on the Coupons dashboard. This allows uploading a spreadsheet with product information.
Step 5: Set Discount & Budget.
- Decide whether you want to offer a percentage off or a specific amount off discount.
- Enter the discount value.
- Set a budget for the total amount you’re willing to spend on the coupon redemptions.
Step 6: Refine Targeting (Optional):
- Choose if you want to limit the coupon to one redemption per buyer or allow multiple uses.
- You can optionally restrict the offer to Prime members only.
Step 7: Finally, review all the details of your coupon creation. Once satisfied, click “Submit” to activate the coupon.
Benefits of Using Amazon Deals, Coupons, and Discounts
There are several benefits to using Amazon Deals, Coupons, and Discounts as a seller:
- Increased Sales and Brand Awareness: Deals create a sense of urgency and excitement, attracting deal-hungry shoppers and boosting your product’s visibility within Amazon’s search results. This can lead to a significant sales surge in a short period (Lightning Deals) or a more sustained sales increase (Subscribe & Save).
- Improved Conversion Rates: Discounts and exclusive offers can incentivize customers to choose your product over competitors. The Prime badge on Prime Exclusive Discounts can further increase trust and conversion rates.
- Inventory Management: Deals can be a strategic tool to move slow-moving inventory. Bundle Deals can specifically target these products by pairing them with popular ones.
- Customer Acquisition and Retention: Coupons can be a cost-effective way to attract new customers, especially when targeted strategically. Subscribe & Save builds customer loyalty and generates recurring revenue.
- Data and Insights: Tracking the performance of Deals, Coupons, and Discounts allows you to see what resonates with your target audience and optimize your offers for better results.
When to Not Use Amazon Exclusive Deals and Discounts
Even though Amazon Deals and Discounts offer a tempting array of benefits, there are situations where they might not be the best course of action for your business. Here’s when you might want to hold off on hitting that “create deal” button:
- Low-Margin Products: If your product already has a thin profit margin, deep discounts offered through Lightning Deals or Coupons can eat away at your earnings significantly. Consider alternative methods to boost sales, like optimizing your listing or running targeted advertising.
- New Product Launch: For a brand-new product, the focus should be on establishing value and building brand awareness. Deep discounts might send the wrong message about the product’s quality. Instead, consider offering smaller introductory discounts or deals that incentivize reviews.
- Limited Inventory: Lightning Deals can generate a sales rush. If you don’t have sufficient stock to meet the demand, you risk stockouts and damage to your seller’s reputation. Only use Lightning Deals or similar high-demand promotions when you’re confident in your inventory levels.
- Already Discounted Products: If your product is already competitively priced or frequently discounted through internal promotions, additional deals might not yield significant benefits. Analyze past sales data to see if further discounting is necessary.
Final Words
By understanding the different types available, their strengths and weaknesses, and when to strategically deploy them, you can attract customers and significantly boost your sales and brand awareness. Remember, successful use of deals is all about balance. Experiment, track results, and refine your approach to become a true Amazon deals maestro.
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