Vendors and sellers constantly struggle to find the best ways to advertise their products on Amazon. And the increased traffic and potential profit of make that struggle even more critical for businesses. Navazon’s experts have found several key actions to take to guide businesses on their Prime Day advertising.
Key Takeaways for Prime Day Advertising
- Start advertising early to ensure your campaigns are ramped up by Prime Day
- Submit deals/coupons as early as possible to give Amazon a chance to adjust orders
- Retail readiness is crucial for successful advertising on Prime Day
- Use your goals to help decide on your strategy
- Plan for an increased budget on Prime Day
Your Goals Should Change from Before to After Prime Day
Advertising just on Prime Day itself will produce limited results. Remember, shoppers are looking at what they might want to buy on the event well before it occurs. And extra advertising afterward can boost incremental sales and brand loyalty.
- Before Prime Day: Promote deals and research brand audience
- Prime Day: Attract and convert audiences
- After Prime Day: Re-engage audiences
Go Big on Prime Day for Lasting Benefits
Prime Day is not business as usual. Not only can you get a high volume of sales in a short period of time, but it is an opportunity to turn great investment into even greater reward in the long run. By increasing your budget on Sponsored Brands, Product Display Ads, Sponsored Products, and upgrading your Amazon Store, you can take advantage of what Prime Day can do for your business.
Benefits of Prime Day Investment
- High sales during the event will boost organic search rank
- Halo effect will increase product sales beyond the event
- Platform to showcase your full catalog and cross-sell different products
- Increase brand awareness to a larger audience and get new loyal customers
- Ideal stage to launch new products
Prime Day Timeline
Building a calendar or timeline that leads up to and through Prime day can help you ensure that your advertising and other operations are prepared for the event. Here are some of the key events you’ll want to mark and track to ensure that your advertising and Prime Day are successful.
- Deal submission deadlines
- Inventory to Amazon
- Retail Readiness
- Advertising campaigns
Common Mistakes on Amazon Prime Day
With so many moving parts that can change quickly, businesses often get trapped in common pitfalls that decrease the efficacy of their marketing on big events like Prime day. Don’t let yourself be caught in any of these.
- Running out of budget: Not setting a high enough budget may limit the effectiveness of your ad
- Waiting too late to advertise: Ads take 14 days to reach efficiency
- Not advertising during Prime: Losing out on traffic & not driving awareness of promotions
- Bidding too low: Competition increases, to remain competitive you need to raise bidding
- Not choosing high quality ASINs: Make sure your ASINs have high level content and you are the featured offer
- Running out of stock: Missing out on extra sales
- Stopping campaigns early
Measure Your Performance
After putting so much effort into making Prime Day successful for you, you’ll want to see how it went so you can improve even more during the next big sales event on Amazon. These metrics will help you gauge how successful your advertising was.
- Calculated Sales Lift
- Conversion Rate Changes
- Search Rank Increase
- Halo Effect
If you need more help on making the most of your advertising and marketing during Prime Day, Navazon’s experts can guide you on making sure your products are retail ready and your advertising is optimized for ideal sales performance. Contact us today to learn more.