On July 6th 2020, Amazon will be kicking off its annual Amazon Prime Day. Here are some of our top tips to help you ensure your business is prepared for not only generating these new sales, but also fulfilling these orders in order to get the most from the event.
What is Amazon Prime Day?
As the name suggests, Amazon Prime Day is a one-day global shopping event created solely for Amazon Prime members, delivering huge discounts and bargains, similar to the sort you would expect from Black Friday and Cyber Monday events.
Specifically, Amazon Prime Day provides huge opportunities for Prime-eligible sellers, in fact last year sellers saw their sales increase by 300%, so it is definitely something you should be leveraging. With that in mind, here are some top tips and best practices for capitalizing on Prime Day and utilizing its popularity to grow your sales.
Offer huge discounts
As a retailer, you will only benefit from Amazon Prime Day if you are able to offer your products at an attractive price, and for this reason, it is important that you have created a solid pricing strategy. Ideally, this is something that you will have already reviewed, but if you haven’t then you do still have time. Just not a lot!
With regards to Amazon Prime Day deals, there are three basic types that you should be aware of. These include Spotlight Deals, Lightning Deals and Prime Savings and Deals:
Prime Day Spotlight Deals
Prime Day spotlight deals feature the most popular products that offer huge savings. These will last until Amazon runs out of stock.
Amazon Lightning Deals
Products showcased in the Lightning Deals will be promoted for only a few hours and will show a status bar indicator that displays the percentage of items that have been purchased or are being held by other shoppers, as well as a time showing exactly how long customers have left to purchase the deal.
Prior to Amazon Prime Day, you will need to submit Lightning Deals for approval. Do remember that deal prices must offer customers a discount of 20% or more from the average listed price in the last 90 days.
Prime Savings and Deals
These will run all day during the event, with Amazon Prime customers able to browse the deals page for these promotions.
Prepare for the imminent surge in sales
Obviously the aim of Amazon Prime Day is to increase sales, so make sure you are prepared for just that. What we mean by this is that it’s likely you will need to increase your support staff for the day, in order to deal with the potential influx in customer queries.
While the majority of Prime Sellers will be using FBA and subsequently have their stock held in Amazon fulfillment centers, if you are using MFN Prime, you will also need to ensure you are prepared, in terms of stock, packing and shipping.
Take advantage of the promotional tools
Amazon have a number of promotion tools that you can leverage in the lead up to Prime Day. As an example, their Sponsored Products feature enables you to advertise your products on the site and helps you increase product visibility when shoppers search for keywords that you have bid on.
While you should optimize your campaigns by bidding on highly relevant keywords, if you are not sure which keywords to use, consider using automatic targeting which lets Amazon automatically match your advertised products to relevant customer searches.
You should also be proactive in promoting your products yourself, through your social media channels. Why not consider setting up advertising campaigns on Facebook and/or Twitter to help promote your products.
Boost search visibility
In addition to investing in Amazon Sponsored Products, there are a number of other ways you can optimize your listings to drive more traffic. Realistically, you should start by optimizing your keywords and search terms and ensuring that the information on your product pages are accurate, detailed and informative. It’s important that you are using the phrases and language that your customers will be using to find your products.
We hope you have a great and profitable Prime Day.