Amazon Prime Day 2022 will take place on July 12th and 13th.
That means third-party sellers have an incredible opportunity.
In 2021 alone, Prime Day earned $11.2 billion in sales as compared to $10.4 billion in 2020. In fact, according to Amazon, Prime Day 2021 was the biggest two-day period ever for third-party sellers, most of whom were SMBs.
But will supply chain issues, inflation and unemployment affect the success of Prime Day? While it’s difficult to forecast, it’s clear customers will always need products, and they’ll look to Amazon to find good deals.
Therefore, it behooves any Amazon seller to take advantage of Amazon’s Prime event. But what is the best way to maximize the day?
Success is in the Preparation
First, determine your goal. Do you want to sell off old stock? Introduce a new product? Or showcase your best-selling products?
Evaluate what you have time to stock before the deadline (June 20th, 2022) and what you have available to sell immediately. Once you’ve set a goal, you can start preparing.
And remember, while making sales is tempting, sales alone do not guarantee profitability. Do your due diligence. Look at your numbers and reconsider participating in Prime day if it will result in a financial loss (unless you’re looking to get rid of non-selling inventory).
Here are 5 tips to help you succeed during Amazon’s Prime Day event.
1. The foundation: Optimize your listings
Get the basics right. Your listing should include the most relevant and high-ranking keywords specific to your product. These keywords can be included in your titles, bullet points and product descriptions. Using the right keys words will place your listings higher on Amazon’s search results pages giving your product more visibility to your potential audience.
But listing optimization is much more than SEO.
CEO of Marketplace Blueprint, Robyn Johnson points out that great optimization depends on differentiation. To stand out, you must first understand your customer. What are they looking for? What do they need to achieve their goals? Don’t guess. Do the research. Which measurements do they require? What material do they want? With accurate information and details, you can write compelling copy that entices the customer to buy your product.
Auditing your images is also important, especially with so much eCommerce happening via mobile phones. While 2-3 front, back and side images may have sufficed five years ago, it’s no longer enough in today’s competitive landscape. Include high-quality (follow Amazon’s guidelines) lifestyle images and infographics that provide critical buying information.
On Amazon Prime Day, you will undoubtedly attract more traffic. Even if your viewers don’t convert on Prime Day, you’ll likely see some of your visitors again in the future if you optimized your listing effectively.
2. The social proof: Get more product reviews
Reviews provide proof to your potential customers that your product is worth buying. Positive reviews are one of the most powerful ways to influence shoppers. In fact, according to one study, your product’s conversion rate increases by 12% when its Amazon star rating increases from 3 to 5.
With the Amazon Request a Review feature, it’s easier than ever to request reviews for your product. Simply send a generic email to each customer through your Amazon Seller Central account inviting your customers to submit feedback about your product or your performance as a seller.
As Prime Day approaches, adding more positive reviews to your page will help you to rank higher in search results
3. The draw: Give them a good deal
Amazon Prime Day is all about discounts and sales. As a seller, you’ll benefit from the exposure lightning deals, promotions and deals of the day can bring. Determine which ones you want to provide and be sure to follow Amazon’s criteria and deadlines for Prime exclusive discounts.
These time-sensitive promotions not only create urgency and conversions but also boost your visibility, which even for a short time can have an impact on your future sales.
4. The publicity channels: Boost your visibility with sponsored Amazon ads and social media
Increasing your Amazon advertising budget by 2-3x will help drive traffic to your listing and expose new customers to your brand. Amazon traffic will increase substantially on Prime Day with Amazon shoppers seeking out good deals. Sponsored product ads that publicize your lightning deals or promotions are therefore highly effective.
Use your social media accounts to promote your product and discounts directly to your customers. Regularly post varied content including videos, images, text and brand-related content. The point is to reach your target audience in all the places they hang out and draw them to your Amazon listing. If they don’t know about your product or sale, they’ll never get there. The competition is just too fierce.
5. The ranking: Drive external traffic to Amazon
Amazon loves when you drive external traffic to their site. And why not? You provide them with free advertisement. Your potential customers may also be looking for other products, which means more money for Amazon. Once these customers are hooked, they’re likely to return.
Sales made directly from external traffic result in higher rankings for your product. Sources include Google Ads, Facebook Ads, email lists and influencer marketing. Even more than improving your ranking, by driving traffic via external sources, as a seller you can build relationships with your customers, obtain their contact information and obtain personal data for future retargeting.
Amazon Prime Day is fast approaching
You may not have months to prepare for the big day, but that doesn’t mean you shouldn’t try. So audit and optimize your product listings, choose your promotions and create your social media posts and ads. Whatever efforts you make now can only help your future marketing and sales.
Do you need help building a sales strategy for Amazon Prime Day and Black Friday? Would you like targeted guidance on how to build your eCommerce brand for an eventual exit?
Contact us for a consultation.