Amazon Prime Day is a worldwide sale on Amazon held annually around the second week of July.
Amazon Prime Day 2018 sales hit $4.19 billion globally during the 36 hour event. That’s up about 74% from 2017. In 2017, it was estimated that sales grew 60% over the prior year.
Even if 2019 doesn’t grow at quite the same rate as the prior two years, a moderate growth from 2018 still makes it a HUGE sale period.
6 Prime Day opportunities
Product & brand awareness
Prime Day is an opportunity to acquire new customers, not make a profit.
You are discounting your products by at least 30% and increasing your budget for paid advertising on Amazon. The goal should be to introduce your brand and your products to a new set of products.
Prime Day Deals are really just Lightning Deals, but you can also run your own promotions such as PPC campaigns or coupons.
Support Prime Day deals with PPC ads
Prime Day deals can also be used similar to a coupon. The deal shows up on your product page no matter how the customer got there. That means you can focus on driving traffic through sponsored product advertising. We suggest that you increase your overall budget and consider increasing your PPC bids, although you should make sure that you still have margin with the Prime Day discounts.
You can also drive traffic though other sources. Influencer marketing, blogging, Pinterest, Instagram, Facebook, other social media platforms, and email marketing all need to be used in comprehensive marketing plans.
Are you trying to get rid of some product? Prime Day allows you to close out deeply discount your products and provides a unique opportunity to gain exposure from other types of promotions besides PPC ads.
Make the most out of new customers
Since you are investing in this promotional event, it’s important that you create the most value from every customer. If your product can be purchased on a recurring basis, make sure that you enable Subscribe and Save.
If you don’t already have packaging inserts for your products make this a priority. Connecting with your customers for long term value is critical. Give customers the product information they need, a way to contact you for any questions or support and a way for them to connect with your brand.
Make sure you have a follow-up email program in place to ask for reviews. Ensure your packaging informs customers about how to connect with your brand. Think about Customer lifetime-value.
Consider using a sale price
In our testing Sale Prices perform better than Coupons at driving click throughs, but coupons can drive a higher conversion rate. If the products Click-Through-Rate is high, then run a coupon, if the products CTR is mid to low, run a sale price.
Increase your PPC bids & budget
Increase your bids on your winning terms by about 50% and your budgets by about 140% to make sure you’ re getting in front of all the increased traffic. Don’t forget to roll back after.