Amazon sellers look forward to two days of the year: Prime Day and Black Friday. These days of the year are the most competitive and active sales days for merchants – orders for goods surge as all consumers want to get their favorite products at the most affordable prices of the year. This year, Prime Day finally seems to be free from the impact of the epidemic, returning to its original schedule. Amazon officially confirmed that this year's Prime Day will be set for July.
So how do you maximize your profits this year's Prime Day shopping spree? With this guide in hand, you can safely welcome this year's Prime Day!
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[Strategy 1] Do a good job of preheating: advance advertising
During Prime Day, the Amazon platform will send a lot of traffic to the market. Although it means that the advertising costs on the site will increase, making full use of it will allow merchants to stand out in the fierce competition. A more reliable strategy is to increase the daily advertising budget to 2-3 times the normal budget on weekdays. Remember to start strengthening the management and optimization of advertising on Amazon at least two weeks in advance of Prime Day, which ensures that you will have enough time to make the sales history look good and improve the credibility of the product on the Amazon platform. At the same time, this also provides opportunities for merchants to continuously optimize the delivery plan based on feedback.
[Strategy 2] Pay attention to off-site traffic: high-quality video marketing
According to Amazon's experience data, consumers who click to watch videos in the product introduction have a conversion rate of 3.6 times the original order. Having some high-quality videos will give merchants a leg up on the competition. During Prime Day, use other platforms such as TikTok, YouTube, Instagram and other off-site KOLs to attract high-quality videos, and at the same time, videos shot by KOLs can be placed on the product instruction page to improve user experience and enhance services. One-time investment, multiple reuse, cost-effective.
[Strategy 3] Promotions to be updated: give priority to prime day exclusive discounts and bundled sales
Products with the "Prime Day Deal" label will have the advantage of clicks during the event, so it is recommended to plan to update store coupons and promotions, and pay attention to the validity period of coupons and promotions. During the prime day, combined with the previous test data, boldly update the store's promotional activities, such as bundled sales: through sales data analysis, bundle the things that consumers want to buy together, such as gift boxes. But remember to make sure your product mix complies with Amazon's bundling policy before creating a promotion.
[Strategy 4] Inventory must be guaranteed: sufficient and accurate
Making sure you have enough stock is the key to a lucrative Prime Day. It’s important to keep track of inventory, go back to last year’s prime day and holiday sales data, pay attention to the demand for certain items this year, and make sure you don’t miss orders due to lack of inventory.
As the battle to prepare for Prime Day and the peak season begins, it means that sellers need more capital investment, which is a difficult time for some asset-light sellers. In addition to stocking, the logistics costs and advertising costs of the Prime Day promotion require a certain amount of investment. To a certain extent, the strong guarantee for sellers to explode orders is funds. In this critical period, sellers should at least ensure that they have cash flow for 3-6 months, so that they have food in their hands and don’t panic. You might as well try bean paste buns – cross-border e-commerce loans to quickly solve capital turnover such as insufficient budget. question.
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