Amazon Advertising Prime Day Strategy 2022
- AUTHOR: Roisin McGrath
- CATEGORY: Amazon Brand Strategy
- DATE: 07/07/2022
We’ve been talking about Amazon Prime Day for a few weeks now, but in 2021, there were more than 250 million items purchased by Prime members worldwide over the two-day period, making this shopping event a huge opportunity for brands selling on the platform.
The key to running a successful Amazon Prime Day Ads strategy is being prepared ahead of time and ensuring you are constantly monitoring your account. As we mentioned in our previous post on preparing for Prime Day, brands must ensure all ad campaigns are structured correctly, optimized and bids are intact. When it comes to budget, create a forecast to avoid wasted spend.
To get started, let’s have a recap of the different Amazon ad types:
Sponsored Product: Promote your products to shoppers actively searching for similar products via keywords or viewing similar listings.
Sponsored Brand: A customizable ad type that allows brands to tell their story and generate brand awareness.
Sponsored Display: These ads use automatically generated ad creatives and can be targeted to audiences on and off Amazon, which are created based on relevant Amazon shopping interests.
So, to be sure your ad campaigns are going to help you smash your goals when Prime day hits, there are some key steps you can take before, during and after the big day.
Things to do between now and July 12:
- Set a spend forecast: estimating how much you will spend on ads during Prime Day will help monitor the ad spend and make sure you’re on track.
- Set up specific campaigns: make sure the products with promotions and/or high-potential ASINs are being advertised and are getting traction in the days leading up to Prime Day. Additionally, make sure you have a strong defensive strategy, targeting branded keywords and ASINs in order to defend your ad placements against competitors during Prime Day
During the two-day period:
- Monitor budgets: As we all know, the number of potential customers increases significantly during Prime Day making the number of clicks and impressions increase as well. We recommend monitoring budgets at campaign level every 2-3 hours and increasing them when campaigns are close to run out of budget if they perform under target TACoS (TACoS: Total advertising cost of sales: Shows a more accurate impact of ad spend on overall revenue, to see profitability as a whole, not only PPC profitability in isolation. TACoS: ad spend/overall revenue)
After the two-day period:
Reduce budgets back as pre-Prime Day to not generate wasted spend and make sure your brand keeps performing at profitable ACoS & TACoS.
It might be a bit late for us to support you next week, but did you know there’s a Prime Day 2.0 in October? If you need an audit of your Amazon Ads account ahead of the Prime Deal Event week later this year, get in touch. We’d love to review your current strategy in detail and understand the challenges you’re facing and your brand’s goals to create a tailored approach for Amazon.
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