Prime Day is around the corner (June 21-22) and below are smart strategies and actionable steps brands can take to participate. Last year the event brought in a 45% increase in total global sales during the October window. Across all categories, impressions more than doubled in 2020 compared to Prime Day in 2019. Amazon now has over 200 million Prime members worldwide, up from 50 million at the start of 2020. An e-commerce leader in the US, traffic on Amazon is up on the platform 8% year-over-year.
Amazon’s Recipe for Success
In addition to the promising growth, a study from McKinsey revealed that 40% of US consumers are optimistic about the current state of the economy. 51% of consumers reported they plan to splurge in the upcoming months to treat themselves because of “pandemic fatigue”. Many shoppers are more willing to try new products (+39%), and Prime Day offers a unique avenue to drive an immediate and scalable trial. Amazon will, of course, use audience data capture to build ongoing relationships across all touchpoints. These factors are creating a winning formula for Amazon’s upcoming Prime Day.
How Can Brands Prep for Prime Day?
- Optimize your brand presence:
- Utilize Brand Stores to showcase your brand and product portfolio in a multipage, immersive shopping experience on Amazon. Make sure it’s optimized, up-to-date, and best-in-class.
- Use the new Brand Values Messaging with a banner to show solidarity with communities or movements like Stop Asian Hate or Black Lives Matter.
- Optimize your product listings to maximize traffic and conversion rates. Use high-quality images, answer key consumer questions, and convey important features and benefits through imagery.
- Now is also a good time to update your keywords for SEO title, bullets, and description. Search-optimized copy is one of the key components that informs the Amazon Algorithm for product results and ranking.
- Implement enhanced content on all priority items to inspire, inform, educate, cross-sell or upsell across the portfolio.
- Prepare campaigns to maximize impact
- Plan to launch campaigns two weeks prior to Prime Day and keep them live for two weeks post Prime Day.
- Run Search and Display campaigns simultaneously.
- Test multiple sponsored brand creative types that help to tell the brand story.
- Utilize additional Sponsored Brand placements to reach new audiences as they shop the category.
- Implement offers & promotions
- Utilize offers and promotions to encourage trials, accelerate sales and create urgency (Percentage off, BOGO, Giveaways, Coupons, Virtual Bundles, etc.)
- When running a deal, leverage the automated ‘Deal’ call to action in your Sponsored Brand Campaigns. CTA can be automated to run during the time of the deal period and will revert to the standard CTA when the deal ends.
- Consider a virtual bundle to fulfill multiple items together at a discounted price.
- Support with other media channels
- Leverage other media channels, like social, to promote coupon codes or specific times and Prime Day deal details.
- Implement the Amazon Attribution tag to ensure you can track the impact of these other media channels on sales performance.
- Support other retailers
- Retailer search volume will increase on other retailer sites such as Target and Walmart as consumers will be in a buying mindset.
- Capitalize on this by running sponsored products, search brand amplifiers, and other search placements with the corresponding retailers.
- Be prepared to bid aggressively, as retailers tend to host their own promotions during Prime Day (i.e. Target Deal Days and Walmart’s The Big Save).
- To ensure performance across the promotional period, remove daily spend caps. This will allow your brands to stay top of mind throughout the day.
- Understand your reach of new customers
- Amazon Attribution now allows you to measure consumers who are new-to-brand driven by Amazon Search and Amazon Display campaigns. New-to-brand represents first time orders for products within a one-year lookback window.
Predictions of Top Selling Brands & Categories in 2021
As the event gets closer, discounts will be formally announced, but this is a sampling of what deals are expected to be hot:
- Apparel & Fashion
- iRobot (again!)
- Event Hosting & Home Entertainment
- Travel & Outdoor Accessories
- Back to School Apparel, Gear & Supplies
- Wellness, Beauty & Personal Care
- Eco-Friendly Products
- Sporting Goods