Every Amazon seller knows that Prime Day is the biggest opportunity to make the most sales in the quickest time. It can drive a significant increase in traffic and sales to brands which is why sellers need to plan ahead of the event to optimise their sales fully.
Usually taking place in July, this year COVID-19 appears to have pushed Prime Day back to an estimate of October giving sellers a chance to make this year their best Prime Day yet. Based on the work we do in helping clients boost sales on Amazon, we have created our top tips to prepare your brand for Prime Day 2020:
Molzi’s Prime Day top tips
Ensure your Amazon catalogue is fully optimised for increased traffic
It goes without saying that your ASINs should all be retail ready all the time, but Prime Day 2020 will be a shopping event that will truly test how optimised your SKUs are. Before the big extravaganza starts, you want to ensure that your products are ranking high in search results.
Consider your ASIN’s copy, not only do you want the listing to sound appealing in order to convert but also you want to ensure that consumers can find your product. There are 3 areas to focus on; titles, bullet-points and keywords. Ensure all areas are fully optimised for consumers before the event as an increase in click-through rate (CTR) and conversion rate (CR) in the search results which will statistically increase sales. Additionally, increasing sales will boost your Amazon SEO, which, in turn, will improve CTR & CR even more. Since brands on average saw an increase of 72% in sales over Prime Day last year, if your ASIN’s don’t convert, the likelihood is that your competition will continue to climb up the Amazon ranking and push you further down it making it even more a struggle to be seen naturally.
Also consider optimising your other assets such as images, A+ and Stores to provide the consumer with as much information about your product and brand as you can. It is imperative to remember that consumers tend to have an idea about the products they intend to buy so ensure that your ASINs are top ranking before Prime Day 2020. It will give your brand the opportunity to be remembered by the customer. In some cases, you may find that consumers search for your brand or product name instead of a target keyword so it is always important to be winning Amazon SEO for your own brand name.
Create an advertising strategy that will last the whole of Prime Day 2020
Amazon Prime Day is guaranteed to bring added traffic to the marketplace, and with traffic usually comes higher CPC. Brands should plan for the event to determine their campaign bids and budget beforehand as to not find themselves with no budget left halfway through the event. Molzi has found that consumers usually spend a lot more near the end of the event as they tend to wait to see what other promotions are available before making a purchase. It is key not to spend your entire budget near the beginning of Prime Day and be left missing out on potential sales while your competitors continue to make conversions due to the lack of competition.
It is also a worthy endeavour to consider A/B testing if you have not done so to determine the sort of copy, images and product grouping converts best before the event. However, this should be done as soon as possible before Prime Day as to evaluate the variable findings fully.
Think ahead and forecast
It is easy to view Prime Day as an event which only affects sales and your budget. However, inventory management should also be a key focus. FBA sellers will find their ASIN to be unavailable so must determine how much stock they should store into Amazon’s fulfilment centres. Whereas SFP sellers may find they have the stock to sell as much as they like, but will struggle with the logistics of fulfilling these orders. It is therefore a good idea to strategise the products you plan to advertise over Prime Day 2020, how much stock you tend to store and how many orders you can fulfil via your distribution option.
Keep on stand-by during Prime Day 2020
Even the most optimised Amazon account cannot guarantee issues on the day. The best sellers will have taken time to determine the most likely problems that could occur during the shopping event and the best way to fix them fast and efficiently as to not affect sales too much. One small hiccup can lead to a brand losing out on multiple sales if not resolved as soon as possible so it is always a good idea to make sure you are able to make edits throughout Prime Day.
Additionally, no one can determine how the event might unfold, therefore it is best practise to monitor daily budgets and edit them to ensure they are running throughout Prime Day and achieving the CTR you expect to see. The key is to plan as much as possible but also to be available to make changes when the need arises during this time. Prime Day cannot be left to chance, nor to its own devices if you intend to optimise your sales during the spectacle. Prime Day is, in its simplest form, a major competition. If you are lax, your competition will take advantage.
Take advantage of Prime Day data
Prime Day is not just a 1-day affair. Plan to build on your success and increased sales by continuing to advertise your bestsellers to capture any hesitant buyers after the event. Additionally, the increased traffic on your ASINs will also allow you to run a focused DSP remarketing campaign that will introduce consumers back into your marketing funnel if used well.
Most importantly, the recorded data that you gain from your Prime Day strategy in 2020 will help you determine your Prime Day strategy next year so record any information worth noting before and during the event. You will be able to pull information about what worked this year and what might not be the best action to take in 2021. Furthermore, you might even learn what your competitors did and how to implement a similar strategy or perhaps a way to counter it next year.
Is your Prime Day strategy not up to scratch?
When you think about Prime Day you instantly think about the crowds of consumers desperately snatching bargains but online discounts require dedication and optimisation by the brand. Molzi can help provide this service for you. Our entire team is dedicated to the nitty gritty of maintaining a successful Amazon account from executing the best promotional campaigns that fit within your Amazon strategy, creating mobile-optimised content and stand-out store pages and providing an excellent advertising strategy to target potential consumers. Contact us today to ensure that your Prime Day sales take off!