Amazon Prime Day 2021: How to be Prepared
What is Amazon Prime Day
Amazon Prime Day 2021 is an exclusive deal event for the site's 150-million-plus Prime subscribers. Prime members can get access to some of the lowest prices of the year on Amazon devices and various other brands and products. This year Amazon Prime day will span across 2 days and fall on June 21 & 22. In 2020 third party sales surpassed $3.5 billion on Prime day becoming one the largest sales events by any ecommerce company. Prime day is a great opportunity for brands to get visibility, drive sales and acquire new customers.
How can Sellers Prepare for Prime Day
Prime day planning can be overwhelming for many business owners as it requires preparation. Brands face many different challenges such as deal planning, driving visibility and matching demand. To make it easier for our customers, Accrue has compiled 4 key strategies that can help you navigate a successful Prime day.
Inventory management
Ensuring that your top sellers are in stock is critical to the success of Prime Day. The Amazon algorithm evaluates inventory as one of the key considerations in ranking products within their search results. If you fulfill your customer orders using FBA make sure there is enough inventory at Amazon FC ahead of Prime day. Depending on your deal planning and advertising spend expect to see a higher sell through.
Promotions and Deals
Prime day is all about deals, customers wait all year for Prime Day to purchase their desired products on discount. In general, if you are not offering a discount on PD, you probably will not see results or a sales lift. Amazon offers different deal types that brands can run across their product catalogue. Brands can choose to run deals on their best sellers or on all products with variable discounts. Setup your deals in advance so they go live on time on Prime day. Another strategy that can drive results, is offering early deals during the lead up to Prime day. Approximately 8-10 days before Prime day, Amazon starts seeing a surge in traffic with shoppers researching ahead of time. This is a great opportunity for brands to offer early deals to kick start the momentum and get ahead of their competition.
Product Detail Pages
Optimizing your product detail pages is another important step in preparation for Prime day. A healthy product detail page includes 5 bullet points, minimum 7 images and titles that meet 150 characters. The Amazon algorithm prioritizes products with good product detail pages in organic search rankings.
Advertising
Get your products in front of shoppers as they are browsing and shopping on Prime day. Sponsored Ads is a very effective tool of being visible on the busiest day of Amazon. Setup your ads in advance of the week leading up to Prime day so they are fully approved and ready to go. The 4 core things to adjust before going into Prime day are bids, budgets, ASINs and campaigns. Ensure that you increase your bids and budgets by 1.5 and 2x as there is increased competition during this time. Pick your top sellers and promos to feature in the campaign and make sure there are specific campaigns setup so you can measure the success of your Prime day advertising efforts.
Lastly if you support a brand store on Amazon, set up the deals tab which will automatically populate that page with all live deals. This is an easy way for customers to navigate the catalog across your brand.
These above tips will ensure you are set up effectively to maximize your opportunity to drive visibility and sales on Prime day. It is very important that you continuously monitor activity so you can adjust elements in real time to not miss out on net new customers.
If you are new to Amazon and are interested to learn more about Prime day or how to manage your business effectively. Feel free to contact us to set up a complimentary session.