Prime Day 2020 | Get Ready Today!
Prime Day 2020 is later than previous years due to COVID-19 but it’s falling perfectly during the Q4 push. This year the epic shopping day will be October 13-14.
There is no time to waste as the sought after Prime Day is around the corner. Prepping for Prime Day 2020 is important for your success. We’ve put together a few tips, tricks and steps to help you ensure that when Prime Day hits, you’re ready to make the most of it.
History and Successes of Prime Day
Since its inception in 2015, Prime Day has been a huge moneymaker for brands across a variety of products and industries. To help give you an idea of just how lucrative this day is, let’s take a look at a few of the many wins from Prime Day 2019.
- $7.16 billion in sales within 48 hours
- 71% increase in sales from 2018 to 2019
- 2019 was Amazon’s largest shopping event in Amazon history
- US top-selling items were the LifeStraw Personal Water Filter, Instant Pot DUO30 and 23andMe health and ancestry kits
- Record number of US Prime members - added more members on Prime Day 2019 than ever before on a single day
Clearly, Prime Day brings in some major revenue, but it is so much more than just a “deals event.” There are three primary ways in which Prime Day can help support your brand, beyond the limited-time deals.
- It gives sellers a reason and opportunity to engage with shoppers before, during and after Prime Day.
- It creates a halo effect for your brand and drives sales for non-Prime Day products within your portfolio. On average two-thirds (66%) of products see a lift in traffic during Prime Day with average daily sales higher for two weeks after the event compared to average sales prior to the event.
- It helps increase new-to-brand shoppers. Participation in Prime Day brings an impressive sales lift. Brands that participated in Prime Day in 2018 experienced an average 3-4 times sales lift.
Selecting Products to Promote for Prime Day
While it’s easy to want to promote everything in your catalog, that is not the most lucrative approach. Instead, focus on your top selling products. You’ll want to make sure that the products you're going to promote are in stock and easy for you to replenish. In addition, make sure your product listings are fulling optimized and include:
- Reviews on Your Product - Amazon has become stricter about reviews and that does come to benefit you as an Amazon seller. It’s important to note that consumers can spot a fake review and that will jeopardize your credibility as a seller. We do have some tips on how to garner more reviews in this blog, How to Get Amazon Reviews - The Right Way.
- Images that are Optimized - Online shopping is here to stay but with that we have to overcome some obstacles. For instance, shoppers have to rely heavily on the images you share. Make sure your images speak to the product and help answer questions. Also, make sure to utilize all of the image slots available on your listing. If you need help coming up with more images and content for those slots, reach out to our team of experts and they can help align your images with your brand to convert shoppers.
- Keywords within your Content - Keywords can drive shoppers to your listing but you also want to keep them there. Make sure that you are using relevant keywords in your content but also ensure that your content (title, bullet points and description) is written to inform the shopper about your product. You want to assure them that this is the right product for them and to do that you need to provide them with information for them to make an informed decision.
Amazon’s Prime Day Strategy
You simply can’t ignore the power Prime Day 2020 has to help boost your business, before, during and after the event. If you’re one of the many sellers looking to activate this Prime Day, Amazon recommends a three-phased strategy to help you prepare.
Lead-up: Start promoting your deals and brands to interested shoppers
Prime Day: Engage audiences that are 1) aware of your brand, and 2) more likely to purchase your products
Lead-out: Re-engage your audiences at scale
Leading Up to Prime Day
Every year, Amazon builds awareness for its upcoming Prime Day by hosting live concerts and events that are streamed by millions of people around the world. As Amazon prepares for Prime Day, you should do the same by increasing awareness and showcasing your products and brand. Here are a few PPC ad types we recommend:
- Sponsored Ads help engage shoppers searching for products within your category, as well as other similar categories
- Display Ads can help drive visibility for specific product deals, as well as your overarching brand, to help build your Prime Day audiences
- Sponsored Brands are a great way to drive shoppers to your Store and push sales. Brands that link Sponsored Brands to their Store, not individual product pages, tend to see a 22% RoAS increase.
In the days and weeks leading up to Prime Day, we recommend that you implement a variety of tests and learn strategies across these various ad types. This will help you optimize your ads as Prime Day draws closer.
Try testing your audience and product strategies to determine the best way products are displayed in your ads and Store. This includes sequencing, featuring and groupings. Similarly, you can test Sponsored Brands, Stores and Display Ads for different featured images, Store layouts and headlines. Exploring several variations across your different ad types will help you optimize your ads most effectively.
This is also a good time to revisit your campaign budgets and increase spending where you can. Prime Day is one of the most competitive shopping days of the year. If your budget can’t compete, you’ll get beat out quickly by those who can. As a general rule of thumb, we recommend at least a 200% increase in your daily campaign spend.
The Main Event: Prime Day
The big day is here. Your deals are live and customers are ready to shop. On Prime Day, you can turn on Sponsored and Display Ads to drive shoppers to product sales and deals.
Sponsored Ads are a great way to target shoppers who have a general idea of what they want, but are still undecided on brand, ASIN, etc. This is your chance to capture their attention at the category level. We recommend utilizing both branded and category keywords to reach shoppers looking for specific products, as well as those who are undecided and can still be swayed.
At the same time, Display Ads are good for expanding your reach both on and off Amazon. On Prime Day, use Display Ads to remarket to those that are already considering your brand. These are people who have viewed the detail pages of your promoted products or searched keywords related to your products. You can further expand your audience by including those who have viewed detail pages for any of your products, not just those with a Prime Day deal.
Post-Prime Day Activations
One of the biggest mistakes you can make during Prime Day is to slow down your marketing efforts once the event has passed. Your brand and products are still top of mind as consumers continue to shop at high volumes, even after the event is over. In fact, there is higher category search volume in the two weeks after Prime Day than in the two weeks before.
At this point, it’s your job to re-engage your audiences at scale to drive loyalty and convert those who did not purchase your products during Prime Day. Sponsored Ads should be used to re-sell, upsell and cross-sell to those who have already made a purchase from you, while Display Ads retarget those who still have yet to make a purchase.
Since the competition has likely gone down after Prime Day, you can now remove your budding multipliers.
How to Measure Your Success
After taking all the necessary steps to market your brand before, during and after Prime Day, it’s important to assess your campaigns and determine what ads and strategies were most successful. These are crucial findings you should use to inform your marketing efforts when Prime Day 2020 comes around. Amazon advertising will report the following data to help you do just that:
- Branded search metrics give you insights into how your Prime Day campaigns contributed to searches for your brand
- New-to-brand metrics help you assess which Prime Day campaigns brought in the most new customers
- Retail insights give you a more comprehensive assessment of consumer shopping activities before, during and after Prime Day
Are you ready to take advantage of Amazon Prime Day 2020 but don't know where to start? Let our team of Amazon selling experts and advertising specialists help guide you through Prime Day and Q4. To get started, simply schedule a 30-minute consult.