When it comes to Amazon, there are two big seasons – One is the Holiday season and the other is the most anticipated 36 hours Prime day season. It is almost mid-June and though we don’t know the exact date yet, we are sure that it will be sometime around the second or third week of July. It has been the second biggest sales day compared to the Cyber Monday ever since it is launched in 2015. There were nearly 100 million products purchased in the last Amazon Prime Day and it is expected to grow bigger this year.
If you are yet to submit your deals and discounts you would be disappointed to know that Amazon has closed all the gates already. However, this is going to be the fifth year and from the history of Prime Day, we have gathered few pointers and strategies which the sellers can implement to boost their sales and promote the brand awareness. Let us walk through this quick guide on how to prepare for the Amazon Prime Day 2019.
Stock Up Your Inventory
Firstly, Amazon Prime Day is only for those sellers that are on FBA or Seller Fulfilled Prime. The days leading to the Prime Day and following that are the busiest for the folks at Amazon Fulfilment centers. Start forecasting and get your stock ready for shipment as 27th June 2019 is the last day for checking in your stock at the Amazon Fulfilment centers to participate in this year’s Prime Day.
Below is a statistics on what people bought the most during Prime Day 2018.
If you are fulfilling your orders through Seller Fulfilled Prime, make sure your logistics and team are prepared to handle the increase in the volume of sales. Remember, the fulfillment centers will be busy for a week or two following the Prime Day as many sellers will be restocking their supplies and hence there will be a long processing time. So stock well in advance to make sure there is no disaster of running low on inventory.
Plan Your Discounts
Prime Day is all about deals and discounts – and there will be a hell lot of them! So how do you stand out? Sadly, the window for submitting your Lightning Deals is over – All you can do now is set up a Discount coupon to run promotions and/or try the Amazon ads. The best thing about coupons is you only pay for the ones that are redeemed, unlike lightning deals where you need to shell out a huge chunk of money just to participate. Coupons are a great way to entice the sellers. You can set up the discount coupons for a fixed amount or for a percentage. Either way, do your math and see how low you can safely go without hitting hard on your margins.
Running Amazon Ads during the Prime Day season is still a matter subjected to a lot of debate. It is a known fact that the top keywords will cost way high and you will end up bidding more money. Instead, examine your keywords and pick only the search terms that are doing well with a good CTR and invest only on that. Some experts advice running the campaigns leading up to and during the Prime Day to increase but it should largely depend on your business goals. If you are looking to promote your brand awareness and do not mind bidding aggressively, you can consider this as an investment and make good use of the big day. But if you are just looking to see more sales, don’t beat around the bush and reserve your ad money for the Prime day alone. Also, keep in mind to lower your daily budget and bids once the Prime Day is over.
Optimize Your Listing
This goes without saying – No matter how well thought your strategy is, if your listing doesn’t grab the buyer’s eyes you will not see that bump in your graph on the Prime Day. Work on the title, images, bullet points, product description, A+/EBC. Make sure you add the Prime day related Keywords in backend search terms. If you are a big seller with hundreds and thousands of products, you can follow the 80:20 strategy and optimize only the top performing ASINs to boost the sales further.
Engage With Your Customers
If you have an active social media page, it is the right time to start engaging with the current customers, promote your discounts and drive external traffic to your Amazon page.
Document Your Game Plan
Sailing through Prime Day sale is going to be daunting especially if your brand is less than a year old with not enough customer base. However, winning it or losing it – Document all your strategies step by step, measure the results and analyze your approaches. You are going to be left with an amazing volume of data to plan your Q4 Holiday season sale better.
And not to forget, we are here to help cut through the crazy days. Talk to our experts today if in case you would like any last-minute-touch-ups done on your listings or need guidance to draw your discounts plan.