Prime Day, Amazon’s annual shopping holiday, is a massive opportunity for advertisers to turn increased volume and higher purchase intent into sales. The shopping extravaganza creates a surge of site traffic to Amazon.com at a normally quiet time of year. And, the dynamic nature of “Lightning Deals” keep Prime members checking the site repeatedly throughout the day and searching for new deals.
Are You Ready?
Prime Day 2019 is expected to occur in mid-July, which means it’s time to start preparing so you aren’t caught off-guard on this key shopping day. Advertisers must have a strategic plan in order to maximize the Prime Day opportunity. I recently shared some tips with DMN on how to position yourself for success for Prime Day and I’ve elaborated on them below:
Have a Strategy & Stick To It! Create defined goals and KPIs for the day and stick to them. In all the Prime Day excitement, it may be tempting to go all in, but don’t forget about profit and revenue goals and other opportunities for efficiencies.
Integration = Key: Prime Day should be approached as an integrated team effort across inventory management, merchandising, and advertising. Working as a unified team for the lead-up and day off will prevent you from getting caught short on inventory, media budget, or product page details.
It’s a Marathon: Prime Day is no longer just one day, so brands also need to plan for the days before and after. Amazon has reported higher category search volume in the 14 days after Prime Day vs. the 14 days before.
Budget Appropriately: Paid media budgets should be set to 4x typical spend and spend should be closely monitored on the day to ensure that you’re not underspending or overspending. You want to maximize your potential and pace throughout the day without going out of the gate too quickly or blowing through your budget for the rest of the year.
Test in Advance: Amazon will recommend multiple approaches and ad units when advertising on Prime Day so make sure you set up, test, and run all ad types before you enter the Prime Day period.
Other Channels Can Play Into Your Prime Day Strategy: Don’t forget to leverage other digital channels on Prime Day. Facebook, Instagram, Google, and Bing are great channels to attract shoppers over to Prime Day
Monitor, Monitor, Monitor: Keep an eye on analytics throughout the day and adjust as needed! Do not take a set it and forget it approach to Prime Day.
Want More Amazon Resources?
Check out Catalyst’s other recent Amazon blog posts and webinar:
- January 2019: What’s New In The Amazon Advertising UI?
- Amazon Advertising Update: New Sponsored Products Targeting Types
- Amazon Attribution: Catalyst POV
- What Advertisers Need To Know About The Latest Amazon Marketing Services Changes
- 5 Ways to Dominate Amazon’s Digital Shelf (Webinar)
And, don’t miss our whitepapers for in-depth research on the consumer journey across Amazon and other ecommerce sites:
- Era of Ecommerce: Capitalizing on the New Customer Journey (Whitepaper)
- Age of Amazon: Maximizing the B2C Marketing Opportunity (Whitepaper)
Want to partner?
Interested in partnering with Catalyst on our Amazon Advertising or ecommerce marketing program? Drop us a line at email@example.com.