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Prepping for Prime Day – Seller’s Guide

Prepping for Prime Day – Seller’s Guide

  • - See our key strategies for Prime Day success on Amazon
  • - We break down campaigns before, during and after Prime Day

The Opportunity
Amazon’s Prime Day sales outperform both Black Friday and Cyber Monday, making it a real opportunity for brands to gain some sales momentum. At Guinn Partners, we realize that it is more than just an opportunity to make a single day’s worth of sales—when following our strategy, our Amazon seller clients see upticks in sales both leading up to and after Prime Day. This entire period is a key 6 weeks or more for focusing on promotions, building a retargeting pool, getting ahead of competition, and executing sales before and after Prime Day.

Some quick stats:
Last year, our FBA sellers and partner accounts* saw an average of over 200% increase in sales on Prime day. These same FBA sellers also see an average 16% rise in sales throughout the month of July with properly executed promotions.

*We aggregate data and best practices with a network of individual brands and agencies to help validate our team strategies.

 

Getting started- what’s your brand’s intention?
The key to success is setting intentions for Prime Day. It’s not just about making the most money on one day, but also:

– Understanding what works from an advertising perspective with the newest Amazon ad tools to drive significant traffic to your detail pages and stores.

– Leveraging the Prime Day traffic and conversion on inventory (often inventory brands want to liquidate) to get Amazon to recognize and better rank products. The more conversions you get, the more Amazon’s algorithm will reward you in the future. A successful prime day that ups your brand’s “clout” can make a big difference come holiday season.

– Building a large base of new potential customers that now know your products and/or brand and using the new data Amazon system to retarget and convert throughout the weeks following Prime Day.

 

Inventory Planning
We suggest FBA brands have 10-15% more inventory on-hand than in their highest non-holiday popular months (not November/December) for July.

 

Promotion Opportunities Off of Amazon
Deal sites – These are sites that promote deals, free product or lower pricing to deal-oriented users in exchange for reviews to jump start traffic and sales on Amazon. This is a great way to promote large discounts, clear extra inventory, and get deals in the meantime. Amazon changes its terms of service with using products like this frequently, so we recommend regularly checking for compliance. The first two on this list do a good job to ensure compliance: Jumpsend (now Junglescout Launch), Snagshout, AMZ Blitz, DealHustl.

PR – Reach out directly to websites that write about product deals and electronics featured on Prime Day (there are a lot). Ideally, you can get a review going into Prime Day, and ensure your product and discount is included in key roundups.

 

Recommendation for discounts vs coupons for July through Prime Day

– We always encourage use of coupons rather than discounts.

– Submit coupons by June 14th to ensure things go through on time.

– We consider it a best practice to pair sponsored products ads with your coupons.

 

Targeting
Use Product Attribute Targeting (PAT) to filter product listings that your ads will appear on. With the strategies below, you’ll utilize the ASIN in Amazon’s PAT to pick products by identification number for running ads.

Offensive strategies – Offensive strategies involve placing ads on competitors to “steal” sales opportunities. We recommend using these criteria to select competing products in a way that will ensure your ad is compelling to the Amazon shopper:

– Higher priced competing products— use your ad to offer a lower-priced alternative.

– Lower reviewed competing products— use your ad to offer a better-reviewed alternative (a big deal for Amazon buyers)

– Unoptimized listings or poor messaging competing products—if your competitors have poor messaging, don’t use A+ content, or bad English, definitely run ads on their product pages. These are big deterrents for Amazon customers that can results in sale acquisition through ads.

Defensive strategies – If you are worried about others promoting their products on your listings with offensive strategies like detailed above, it is worth running a defensive strategy. To do this, bid on your own products with cross-sells using Product Attribute Targeting. This helps nudge the price of ads up for competitors and remove any easy advertising wins for competitive brands. We only recommend this in competitive categories where your competition is employing sophisticated Amazon advertising strategy.

 

Placement bidding – Top of search
Begin Testing Enhanced Auto Targeting (EAT) – 30 days before through Prime Day

Begin using Amazon’s Enhanced Auto Targeting as early as possible prior to Prime Day to see what works well for your products. Use a high spend on this pre-Prime Day. We recommend testing placement bidding incrementally (raising by 25% each time).

Amazon offers four strategies with Enhanced Auto Targeting

– Substitutes

– Complements

– Close match

– Loose match

Test the performance across all four and compare to each other (using the same cost per click). On Prime Day itself, use a high spend on the strategies that are performing best.

After Prime Day, we recommend cutting this strategy to focus on remarketing (below) throughout the next 6-8 weeks.

 

Utilize your storefront – 7 days before through Prime Day
This strategy is applicable to brands that have a higher volume of products (5 or more generally). Create a subcategory page in your storefront that auto-populates only products that currently offer deals (coupons, discounts, etc). Then use ads to push people to that section of the storefront. Use “sponsored brand” ads for this. We recommend running this ad the week before Prime Day and Prime Day itself, then remove after to focus on remarketing.

 

After Prime Day
After Prime Day, we recommend putting the majority of your spend in brand and product remarketing/retargeting, with the Amazon Demand Side Platform (DSP)—if you have access to it, and whatever retargeting options you do have with Amazon if not. You want to retarget all visitors (anyone who engaged) from Prime Day extensively over the following 6-8 weeks with these ads. This is where brands often see the most return on investments in ads leading up to Prime Day. On Amazon, 42% of purchases happen between day 26 and day 40 after interacting with a product (only 19% happen on day 1). This period is critical, and it’s important to retarget after to take advantage of the buying window (do not stop too early after just one month).

 

Experiment with these 3 retargeting methods to see which yields the best performance:

  • Pixel-based – Shoppers who visit your brand’s store
  • Product remarketing – Retarget shoppers who viewed your promoted products but didn’t convert
  • Brand halo remarketing – If you have multiple products (especially a mix of price points) retarget shoppers who viewed other products your brand offers

Conclusion
Prime Day is a great opportunity to take your Amazon promotion strategy seriously. None of this will matter if you don’t have search optimized listings with A+ content and great messaging, so if you’re new to this, focus on the fundamentals first. If you have a good foundation, these strategies can help you capitalize on a key month that doesn’t just generate sales volume but helps set you up for success for the rest of the year with retargeting data and improved ranking with Amazon’s algorithm.

© 2019 Guinn Consulting LLC
All Rights Reserved.

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