One of the biggest global online sales events of the year is just around the corner and many businesses aren’t ready.
Since its launch in 2015, Amazon Prime Day has established itself as a key selling event in the calendar year, accounting for an estimated £9.5B in global sales in 2021 alone. All categories benefit from an increase in conversion on Prime Day but Consumer Electronics, Health & Beauty see some of the strongest conversion rates, each accounting for 28% of total purchases during the period.
Prime members offer a unique opportunity for brands with many members paying close attention to product prices in the weeks leading up to the big event, reviewing, considering, and planning their purchases. On Prime Day, 74% of prime members convert in at least one category compared to the 10-15% average conversion rate for non-prime members, and on top of this, 64% of shoppers say they discover new brands and products in the weeks leading up to the event. It’s clearer than – to reach new consumers before and during Prime Day, brands need to ensure products are optimised for conversion to maximise revenue on Prime Day and beyond.
To do this, there are five areas of focus to prepare your brands for Prime Day:
1. Product Visibility
Audit the brands ASINs to understand where products stand against competitors. Review product titles, categories, and subcategories to ensure there are clear and concise naming conventions with relevant keywords for easy discoverability and logical organisation to guarantee seamless category browsing. Completing this in the weeks leading up to Prime Day allows Amazons A9 algorithm to learn and optimise for audiences.
2. Product Content
Product imagery, videos, detailed bullet points and accurate product descriptions should all be part of your product toolkit and ensuring pages include A+ content has shown to increase conversion by up to 9%. Reviews are also an important element with many consumers considering positive reviews a the top criteria for consideration when buying.
3. Selecting the right products
Prime Day is an opportunity to launch new products, promote discontinued items and even provide a boost to a flagging brand. Utilisation of variable listings or the new model widget in conjunction with a promotional product can generate additional halo sales. This can be particularly important for categories where seasonality or licensing plays a big part in the sell through of a product.
4. Promotional deal types (Vendor led & SSP)
Understand the deals available to ensure an effective strategy for the business.
Lightning deals are a six-hour promotion featured on the Amazon deals page
Best deal is a two-week promotion in which your product may be featured on the Amazon deals page
Price Discount is a type of promotion to help you win the buy box back from other sellers
Make sure your products and deals are setup with plenty of time for the algorithm to learn and optimise.
5. Advertising Support
Set up specific Prime Day campaigns with a dedicated budget to ensure promoted visibility over the sales period. This is particularly important when it comes to the self-service deals that don’t get the same on-site visibility as Lightning Deals. Be prepared to run a search term analysis to ensure that all relevant keywords are included in deal ASINs and create a strategy to maximise the usage of broad terms that are specific to Prime Day.
Given the enormous sales seen last year, Prime Day is here to stay. To ensure brands maximise their revenue opportunity, it’s imperative that businesses understand why having optimised content on Amazon is key to success and the factors they can influence to drive this growth.