Prime Day 2021 is a massive 2-day eCommerce extravaganza hosted by one of the largest eCommerce retailers in the world. In 2020, the multi-day shopping event generated $10.4 billion over 2 days.
Amazon Merchants reportedly receive nearly 35% of product sales on Amazon Prime day, while Amazon products make up the bulk of sales at 65%.
Prime Day has become so popular that other retailers have started releasing promotions to capitalize on Prime Day’s traffic and buzz.
Why Prime Day is important
- Customer Trust – 89% of buyers agree that they are more likely to buy products from Amazon than other eCommerce sites (Feedvisor, 2019)
- More Leads – 23% of online shoppers go first to Amazon for inspiration when they don’t have a specific product in mind for purchase (Episerver, 2019)
- Amazing Returns – Approximately half the brands that sell on Amazon experience at least 7x Return on Ad Spend (ROAS) (Feedvisor, 2020)
- New Customer Acquisition – $280.5 billion in sales were generated on Amazon in 2019 (47% of all e-commerce sales)
6 Tips For Amazon Prime Day Merchants
1) Halo Effect:
The increase in sales that you get during Prime Day will help you rank better organically, which will continue to attract more sales after Prime Day is over. Use this opportunity to set your business up for future growth.
Make sure that your fundamentals are in order by optimizing your Images, A+ Content and Storefront. Get professional images if you don’t already have them and stock up on inventory.
Make sure that your product pages are optimized for SEO. Update keywords on your product pages frontend and backend. Include your top keywords from campaigns and do your own research to identify new keywords. Shopping behavior and search trends often change so make sure that your keywords are updated. Put together a review retention strategy to convert as many customers as you can into reviewers.
4) Holistic Approach:
Synchronize your Amazon strategy with Facebook, Google, Youtube, Influencer, and Email. Promote your Prime Day deals on Amazon and keep track of conversions using Amazon Attribution. Use this approach to optimize your overall strategy and win during Prime Day.
Get your products to be featured on Amazon’s Lightning Deals. Run coupons, promotions, or sign up for Prime Exclusive Discounts. Oer a hefty discount of at least 25-40% OFF and run a substantial advertising campaign. Your coupons and discounts will be displayed when you run your campaign and attract more customers’ interest. Don’t raise your price prior to Prime Day to show a greater discount.
6) Amazon Advertising:
Optimize your advertising campaigns and be ready for a substantial increase in track. Make sure to develop a funnel within your campaigns and have a wide mix of Sponsored Product, Sponsored Brands, Sponsored Display, and Video campaigns targeting keywords, products, and categories. Allocate a sufficient budget towards Prime Day, expect to use at least 50% of your normal monthly budget.