The annual Amazon Prime Day event has proven to be the biggest e-commerce shopping event of the year, outperforming Cyber Monday and Black Friday. In fact, in order to compete with Amazon sellers, few retailers offer promotions on Prime Day. That's why we prepaid this Amazon Primetime Tips and Tricks guide for you.
Prime Day sales continue to grow year after year. In 2021, total sales reached a new high of $ 11.2 billion . 65% of these sales come from the United States. Huge sales numbers communicate a huge opportunity for sellers to take advantage of.
No date has been set for this event, but it is based on historical data; we can expect it to happen in the summer. As a seller, you should consider how should I prepare for Prime Day as an Amazon seller? To prepare you for this event, we've prepared the best tips and tricks for success. For significant results, you should start preparing for this event at least one month before Prime Day.
Let's start with how to prepare for Amazon Prime Day – tips and tricks.
1. Preferred products for Prime Day promotions
Brands should focus on ASINs with high ratings, reliable sales history, and relatively high conversion rates to get the most from the traffic boost from Prime Day. These products will give you a good return on investment (ROI) and a huge percentage of sales.
If you want to launch a new product on Prime Day to grab your audience's attention, make sure your campaign is strategically planned. If the goal of your campaign is to increase brand exposure, it can be a big advantage if you have a reasonable budget. To increase efficiency, you can combine new products with existing products that consumers trust and love to use.
2. Maintain inventory levels
The worst thing a brand can face is running out of stock during peak sales and not being able to keep up with customer demand. Failure to maintain inventory will negatively impact product rankings, sell-through rates, and Amazon algorithms. To avoid this, keep your inventory levels within the norm.
Amazon's press release informs that the top-selling categories globally for Prime Day 2021 are Beauty, Nutrition, Electronics, Baby Care, Apparel, and Home Goods. To achieve the same success in 2022, brands in these categories should have strategies in place to attract customers.
3. Offers and discounts
Competition among Prime Day sellers is fierce as they all go to great lengths to attract customers and make sales. Offering deals and discounts can help grab customers' attention and increase sales. Prime Day will have an influx of deals, and it ’s critical to choose promotional products with strong sales histories and high product ratings.
Another effective way to increase product sales is lightning deals, as they appear prominently on the deals page. You should only use these offers if your brand has a loyal customer base and shoppers trust their products.
Recently, Amazon increased the length of Lightning Deals from four to twelve hours. The downside of this is that sellers can't choose when to run their campaigns, which can lead to budgets that can run out quickly.
Another effective way to increase sales is through coupons. These coupons appeal to price-conscious consumers, and they appear on product detail pages with an orange badge. Customers can also see product banners highlighting discounted deals that act as catalysts for consumers' attention. Amazon shoppers will be looking for the best value deals on Prime Day, so offering discounted deals is sure to grab their attention and increase sales.
4. Marketing Budget and Strategy
Promoting your products on Prime Day can be expensive because it's the most anticipated event of the year. Product optimization is a real way to increase organic growth, boost sales, and increase conversions. Since sellers can't add any information about Prime Day specials on their product detail pages, optimizing product images, descriptions, and titles is one possible way to enjoy a successful Prime Day.
Make sure to plan strategically before launching your Prime Day event to avoid running out of budget. Buyers may see your ad and switch without making a purchase. Be prepared to spend at least three times your daily advertising budget on this big event. For budget management, sellers should invest in campaigns with Prime Day-focused keywords to ensure proper product ranking.
5. Competitor Analysis
Sellers can generate the most value after conducting a competitor analysis under intense competition. Find your competitors, analyze product differences, and fill existing gaps to generate maximum revenue. You can also track high search volume keywords for similar products and bid on them to appear at the top of search rankings.
Prime time also presents opportunities for other retail giants such as Walmart and Target. Leading brands are reaping excess revenue from Prime Day, boosting e-commerce sales even after the event.
Now that you, as a seller, know about the Amazon Prime Day event and how to prepare for Amazon Prime Day – tips and tricks, you can start getting ready for this huge opportunity.
Remember to start your campaign before this month to get the most out of this offer. Practice the above points and apply them strategically to ensure a successful Prime Day.
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