How to Prepare for Amazon Prime Day 2024
Amazon Prime Day is one of the largest global e-commerce sales events, attracting millions of customers worldwide.
But how do you ensure you are well-prepared for Amazon Prime Day 2024?
In this Amazon Prime Day prep guide, we will share 15 steps that you can implement before Prime Day, during Prime Day, and post-Prime Day to maximize this mega event for you.
What Are the Dates for Amazon Prime Days?
Prime Day 2024 is scheduled for July 16-17 in the US and Europe. In Australia, it is scheduled for July 16-21, and in India, it is scheduled for July 20-21.
What to Expect From Prime Day 2024?
Prime Day events are getting bigger and bigger with Prime Day success each passing year. In the previous year alone, Prime members purchased more than 300 million items worldwide and saved over $1.7 billion, surpassing the savings of any previous Prime Day event. At this event, Prime Day sales in the US alone reached an estimated $12.7 billion, establishing it as the most successful shopping occasion in Amazon’s history.
While it is undoubtedly a big occasion for consumers to save money, it also brings significant advantages for Amazon sellers in terms of increased product visibility, high traffic, and more sales for your products.
Pre-Prime Day Strategy
1. Pick Your Star Products
One of the key strategies for a successful Prime Day is to select your star products wisely. These are the items you want to showcase and promote heavily during the event. Think about your bestsellers, products with high profit margins, or items that you need to clear out of stock.
Focus on products that have consistently performed well and have received positive customer feedback. These are likely to attract more attention and sales during Prime Day.
2. Make Sure You Have Enough Inventory
It’s crucial to ensure you have ample inventory for your selected products. Imagine the excitement of Prime Day shoppers eagerly clicking “Buy Now,” and you don’t want to disappoint them with an “Out of Stock” message! Review your sales data from previous events to forecast demand accurately. Consider increasing stock levels to meet potential spikes in orders.
Focus on products that have consistently performed well and have received positive customer feedback. These are likely to attract more attention and sales during Prime Day.
3. Offer Competitive Prime Day Deals and Discounts
Prime Day is all about amazing deals for shoppers, and you want to make sure yours stand out! Here are some popular options to consider scheduling beforehand:
Prime Exclusive Deals
These are discounts only Prime members can enjoy on Amazon. They’re automatically applied at checkout, making it super easy for Prime shoppers to save.
You can set them up through your Seller Central account under “Advertising” -> “Prime Exclusive Discount.”
Coupon Deal
If a product isn’t eligible for a Prime Day discount, consider offering a special coupon. Coupons can give a percentage or flat dollar amount off the regular price, making your product more attractive to budget-conscious shoppers hunting for deals.
Lightning Deals
These are exciting flash sales where you offer a limited amount of your product at a discounted price for a short time (usually 4-12 hours). They’re a great way to create a buzz and clear out inventory. Here’s a smart tip: Schedule your Lightning Deals for the week after Prime Day. This helps capture the interest of shoppers who are still in buying mode after the main event. Remember, you can choose a timeframe for your Lightning Deal, but Amazon will have the final say on the exact day and time it runs.
4. Enhance Your Amazon Product Listing
To make your products shine like a smile in a sea of choices, start by optimizing your Amazon product listings with crystal-clear descriptions that highlight the unique features and benefits. Use high-quality images that showcase your product from every angle, giving customers a virtual tour that leaves them grinning from ear to ear.
Incorporate relevant keywords strategically to ensure your listings pop up when shoppers are searching for similar items. This thoughtful approach not only boosts visibility but also increases the likelihood of converting browsers into happy buyers during Prime Day 2024.
5. Create a Dedicated Amazon Store Page for Prime Day Deals
Create a special section within your Amazon Store that is exclusively dedicated to Prime Day deals. This makes it simple and straightforward for Prime members to discover and explore your discounted offers during the event. By organizing your products into a Prime Day subcategory, you increase visibility and make it easier for shoppers to navigate directly to the deals you’re offering.
6. Target Your 2023 Prime Day Customers Using Amazon DSP
Utilize Amazon DSP to reconnect with your customers from Prime Day 2023. Create a custom audience within Amazon Marketing Cloud consisting of shoppers who made purchases from you during previous Prime Day events. By targeting them through your Amazon DSP campaign, you can rekindle their interest and encourage them to shop with you again.
7. Retarget Abandoned Cart Shoppers
Use Amazon Marketing Cloud and DSP to target shoppers who added your products to their cart but didn’t finish the purchase. These shoppers might be waiting for better deals. Show them reminders of the discounts they almost missed to encourage them to complete their purchase.
8. Setup Remarketing Campaign for Post Prime Day
After Prime Day ends, create ads targeted at people who visited your store or products during the event but didn’t buy anything. These ads remind them of your brand and encourage them to come back and make a purchase.
During-Prime Day Strategy
9. Adjust Bids for Prime Day
During Prime Day, the cost-per-click (CPC) for ads typically increases by 25-30% compared to normal days. To stay competitive and maximize your visibility, make sure to fine-tune your bidding strategy accordingly. This will help you capture the attention of the increased traffic during this peak shopping period.
Adbrew’s Bid Automation allows you to automate bid adjustments based on performance metrics such spends, ACOS, sales, and Top of Search Impression Share, unlocking granular campaign optimization, and driving superior results.
10. Review Your Daily Budget for Higher Traffic
Prepare for a spike in impressions and clicks on your Amazon Prime Day ads, which can increase sales but may exhaust your budget quicker than usual. Make sure to allocate a significantly higher budget to your campaigns during this high-traffic event to maximize Prime Day performance.
Get ready for the surge in traffic! Use Adbrew to set up campaign budget automation based on Amazon Marketing Stream events to automatically increase/decrease your campaign budget in real-time based on the ads performance.
11. Scale Ads with Amazon Marketing Stream and Dayparting
Use Amazon Marketing Stream to track how your ads perform hour by hour. Adjust your ad strategy throughout the day to increase your advertising budget during peak shopping times. This way, you’ll maximize your visibility when potential customers are most active, boosting your chances of making sales.
Adbrew’s AI-powered intraday ad optimization tool allows you to generate and schedule dayparting based on your unique goals, such as maximizing sales, optimizing ACOS, etc.
12. Monitor Houly Share of Voice
Keep an eye on how often your products appear in Amazon search results for key keywords throughout the day. Make sure you’re visible in high-traffic spots like the top of search results for Sponsored Products and Sponsored Brands Ads. This ensures you stay competitive and attract more shoppers from Amazon search
Post-Prime Day Strategy
13. Analyze Results
Take a close look at your Prime Day performance data. Evaluate which deals were successful, identify popular products, and pinpoint areas for improvement in preparation for next year’s event. This analysis will help you refine your strategies and maximize future opportunities.
14. Offer Discounts After Prime Day
Extend the excitement of Prime Day by continuing to offer discounts after the event. Keep customers engaged and encourage them to make purchases even after Prime Day ends. This strategy helps to maintain momentum and capitalize on the buzz generated during the sales event.
15. Optimize Your Ad Campaigns
After Prime Day, expect a decrease in your Return on Ad Spend as conversion rates may dip. To manage this, scale back aggressive ads that might not perform as well post-event. Focus more on strategies that worked effectively during Prime Day. Also, consider reducing spending on ads that aren’t delivering a good return on your investment.
Conclusion
Amazon Prime Day has emerged as one of the most significant shopping events for both savvy shoppers focused on saving money and sellers aiming to increase their sales. Last year, Prime Day amassed approximately $12.7 billion in sales, and this figure is projected to rise even higher this year.
For Amazon sellers, Prime Day presents an incredible opportunity to boost product sales. With the event just a few weeks away, there is still time to adequately prepare. In this blog post, we have shared some valuable tips to help you get ready for this massive shopping extravaganza.
Ready to get started with Adbrew?
Adbrew provides cutting-edge automation, expertly curated strategies, and data-driven insights for brands to thrive on Amazon.
Frequently Asked Questions:
How much does the average person spend on Prime Day?
The average Prime Day spend per order in the US was $56.64 in 2023, up from $53.14 in 2022.
Should I offer discounts and deals for Prime Day?
Absolutely! Prime Day is all about deals. Participate in Amazon’s Lightning Deals and Daily Deals programs to grab shopper attention. Offer competitive discounts on your best-selling and highly–rated products.
What are the benefits of participating in Prime Day?
Increased sales traffic, chance to clear inventory, reach new customers with Prime member exposure.
What are the biggest mistakes to avoid on Prime Day?
- Missing the Pre-Prime Day Prep: Don’t wait until the last minute to set deals, optimize listings, and ensure smooth operations.
- Uncompetitive Offers: Prime Day is about hot deals. Skimpy discounts won’t attract deal-hungry shoppers.
- Stock Issues: Running out of stock during Prime Day is a disaster. Make sure you have enough inventory to meet the surge in demand.
- Ignoring Customer Service: Be prepared for a spike in inquiries and orders. Prioritize prompt and excellent customer service.
- Forgetting Post-Prime Day: Analyze results, learn from them, and leverage the momentum to retain customers and boost long-term sales.
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