Amazon’s Prime Day has become almost as big of a day for online retail as Black Friday or Cyber Monday. The potential for boosted sales is enormous, but the tactics to do so are necessary to meet that potential.
One key tool to boost profitability is deals. Shoppers love deals, which is why they love Amazon Day to begin with. Highlighting your products with good deals will bring even more shoppers to your products.
- Lightning Deals allow you to provide a deal for a limited number of products for a limited time
- Prime Member Coupons offer shoppers a digital discount with automatic merchandizing
- Prime Member Promotions provide discounts exclusively to Prime members with a deal badge
- The Deals you decide to use will depend on your goals, flexibility, product type, and more
What is a Lightning Deal?
Lightning deals allow you to provide a quick, deal for a limited number of units. This may be because you only have so many units available, or because you are trying to generate initial interest in the product. This kind of deal runs for several hours on highly trafficked pages of Amazon. On Prime Day, these deals are exclusive to Prime members.
- Eligibility requirements:
- 20% discount
- Strong sales history
- Seasonally relevant
- Positive ratings and reviews
- Merchandising fee: $500
What are Vendor Powered Coupons (VPC)?
Coupons are a digital discount with automatic merchandising that can be found on the coupons page, shopping results, details pages, and other high traffic areas of Amazon. Coupons are available exclusively to Prime Members on Prime Day lead-up and Prime Day.
Since as of the writing of this article, 2021 Prime Day dates have not been announced, you will need to schedule three Placeholder coupons. When the days are announced, Amazon will automatically update the start and end dates of the coupons to correspond. Please not that creating coupons for your products is self-service, so it is possible to create more after the announcement.
- Eligibility requirements:
- Minimum 20% discount off current price
- Products must be prime eligible
- Customer Segment targeting must be set to Amazon Prime
- Created by 5/28/2021
How can Promotions Help?
Promotions on PRIME DAY are point-of-sale discounts that are exclusive to Prime members. These offers appear on the ‘Amazon Prime Day Deals’ page in addition to ‘Today’s Deals’ page. The Prime Day Deals bade will appear with the product in searches and on its detail page. The Discount Sourcing for promotions this year begins 3/29/2021 and ends 4/16/2021.
- Eligibility Requirements:
- 20% off current price (5% off lowest price in last 30 days)
- 4-star seller rating
- 3 star or greater product reviews
Choosing the Right Promotion for Prime Day
Knowing which kind of deal, or combination of deals, is best for your Amazon business is critical to having a successful Prime Day. Here is a list of key aspects to consider when choosing which you will use.
- Lighting Deal:
- Great for brand awareness
- Appears on Amazon deal’s pages – one of the most visited pages on Amazon.com
- Halo effect driving additional discovery and sales both during and after the event
- Useful tool to clear out overstocks or seasonal products
- CONS: No control over timing and inventory minimums apply
- Prime Member Coupon:
- Easy incentive for the customers
- Self–serve and flexible timing
- Easy to set up and great visibility
- Drives traffic to increase brand awareness
- Coupons appear prominently on product detail pages and coupon pages
- CONS: Customers don’t always clip the coupon and $0.60 charge per coupon
- Prime Member Promotion:
- Free to set up
- No invitation is required and it is only valid for prime members
- More of an amazon marketing tool
- Effectiveness is increased if your niche attracts a lot of prime members
- CONS: Typically doesn’t provide huge sales lift
Advertising Submission Deadlines
Ensure that you get your advertising submissions in on time, if not early. This will help ensure that your marketing efforts hit at the right time on and around the event.
- April 16, 2021: Prime Day Lightning Deal submissions close and Prime Exclusive Discount Sourcing ends
- May 28, 2021: Coupon submission closes for Prime Day date adjustment
For more information on preparing for Prime Day 2021, see our webinar.
Navazon’s team of experts has years of experience using these different kinds of deals and helping clients increase the revenue they get from their Prime Day advertising. Contact us today to learn how we can help your Prime Day 2021 be the best ever.