It's that time of year again...
Prime Day, one of Amazon's biggest global shopping events of the year. The one that's quickly joining the ranks of Black Friday and Cyber Monday. The event that generated over $4.2 billion in sales last year (Source: Bloomberg). I'm talking about the mega sales event that is most likely less than three weeks away. Here's a quick survival guide to make sure your brand is prepared for a successful Prime Day this year.
Three Phased Approach
According to Amazon insiders and based on our experience, the best strategy for maximized performance on Prime Day is a three phased approach. Each phase is important in creating awareness, engaging, and re-engaging customers. Below is a description of each phase.
- Lead Up - Promote your deals and brand to researching audiences
- Prime Day - Engage brand-aware audiences more likely to purchase your products
- Lead Out - Re-engage your audiences at scale
In each stage it's important to promote the value of your deal and brand. Sponsored ads, display ads on and off Amazon, along with video and other solutions are great ways to do this. A branded store also provides opportunities to educate customers and showcase your deals. It's been reported that linking sponsored ads to your branded store has over a 20% ROAS increase compared to linking to a detail page.
In the weeks leading up to Prime Day test and adapt your campaigns. Promoted products, audience, copy, keyword strategies, and budgets are all things to analyze before the big day.
Put your "lead up findings" to use. With your product selection, audience, and messaging defined, it's time to execute your strategy. During the event closely monitor your budgets to ensure all your ads are being displayed. Being one of Amazon's largest shopping events of the year, costs per click rise as other brands and sellers compete for the increased traffic.
Even though Prime Day is over, a proper lead out can re-engage your audiences at scale. Continue your sponsored product ads and display ads post Prime Day. This allows you to re-engage your brand's existing audience to re-sell, up-sell, and cross sell your products. It also drives loyalty and in-market audiences that did not purchase your products on Prime Day.
Finally, measure your Prime Day success. Analyze your branded search and new-to-brand metrics. You can also gain insight into comprehensive shopping activities with Amazon's Retail Insights.
Best of luck to your brand this Prime Day. We hope these tips help make it a record breaking day for your business.