Unleash Your Prime Day Potential: An Amazon Advertising Strategy Guide

Elise Jackson

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  • AUTHOR: Elise Jackson
  • CATEGORY: Amazon Advertising
  • DATE: 05/07/2024

Increased traffic. Increased sales. Increased ratings and reviews… It’s time for Prime Day!

 

Amazon Advertising Account Audit

 

This 48-hour shopping frenzy has the potential to significantly increase your brand’s visibility and attract new customers. Whether you’re a seasoned seller or a fresh face just starting out, preparing for Prime Day will make a big difference in your annual sales figures.

To make the most of Prime Day, we’ve compiled some useful tips and tricks to include in your Amazon advertising Prime Day strategy that will help you reach your goals. From planning and allocating funds to improving product listings and developing engaging advertising campaigns, we will cover it all in this article.

Understanding Prime Day and Its Impact on Amazon Advertising

In 2015, Amazon began Prime Day to celebrate its 20th anniversary. What used to be a 24-hour event is now a two-day extravaganza, and every year, more deals and exclusive offers are added. Woohoo! With the help of millions of Prime members all over the globe, the event has become a standout on the e-commerce calendar.

By 2023, Prime Day had grown significantly, with sales surpassing $12 billion. Sales for small and medium-sized businesses skyrocketed, and popular categories like fashion, home goods, and electronics were no exception. Trends have indicated shoppers start preparing early, often browsing and adding items to their baskets long before the event kicks off.

 

Be ripe and ready for Prime Day with This Is UnicornBe ripe and ready for Prime Day with This Is Unicorn

 

So, what does this mean for brands? A large chunk of many companies’ annual revenue comes from Prime Day, making it a pivotal event for many sellers. The dramatic increase in traffic fueled by a stronger desire to buy can lead to record-breaking sales numbers. Successful brands know that being well-prepared pays off in terms of increased sales and, in the long run, through increased brand visibility and a loyal consumer base.

 

Setting Goals and Budget Allocation

Make sure your Prime Day campaign objectives are clear and achievable. Decide if you want to increase sales, raise brand recognition, or sell off old stock. Depending on your objectives, you’ll have a better idea of how to proceed and where to put your energy.

Before Prime Day rolls around, create a budget for your spending. Predicting your advertising expenses will allow you to monitor your advertising costs and ensure that you stay within your ad budget.

Concentrate on utilising Sponsored Brands and Sponsored Display ads to increase brand awareness. Apply display or video advertisements to showcase your brand to potential buyers. Make sure your advertisements are high-quality and properly display your product to entice customers. Increase your advertising budget in the run-up to improve relevancy on the big day.

Study your previous performance data and adjust your budget to reflect increased competition. Be ready to increase spending on high-performing keywords and placements. Budgeting can be challenging, but a good rule of thumb is to dedicate a substantial portion of your monthly ad spend to this event, which will pay dividends. Here’s what we found to be the most opportune times.

Day 1 has the highest sales efficiency and volumes as customers race to get hot promotions. To attract high-intent buyers, spend most of your marketing budget on Day 1, especially between 7am and 1pm. This can lead to significant sales.

Day 2 has a more even sales distribution, with a slight dip from Day 1. Strategic ad placements, especially from 5 to 7pm when CPC is lower yet purchase intent is strong, can still yield good returns, so keep those ads running.

You’ll want to know how well your campaigns are doing, so keep an eye on your key performance indicators (KPIs). These metrics include Click-Through Rates (CTR), conversion rates, Cost Per Click (CPC), and Return on Ad Spend (ROAS). Using these metrics, you can evaluate the effectiveness of your advertising and make modifications as you go.

 

This Is Unicorn

 

Crafting Compelling Ad Campaigns

Consider Amazon ads your lifeblood during Prime Day. With the correct advertising plan, you can differentiate yourself from the competitors and increase traffic and conversions. Take advantage of Amazon’s advertising features, such as Sponsored Products, Sponsored Brands, and Display Ads, to boost your visibility and optimise sales during this frantic period.

Amazon offers different ad formats to suit various objectives.

  • Sponsored Products – increase the visibility of individual listings
  • Sponsored Brands – enhance your brand’s presence
  • Sponsored Display Ads – re-engage interested shoppers

Ads need to be eye-catching and effective to stand out in a crowded market. Make use of visually appealing graphics, attention-grabbing headlines, and clear CTAs. Highlight your exceptional Prime Day deals and what makes your product stand out. By emphasising sales and instilling a feeling of urgency, you can tailor your messaging to match the shopping intent of Prime Day customers.

 

Have your products feature prominently in SERPs with sponsored product ads

Have your products feature prominently in SERPs with sponsored product ads

 

The effectiveness of your advertising operations relies on precise targeting. Leverage Amazon’s targeting options to reach specific demographics, interests, and shopping behaviours. Automated targeting can help broaden your reach, while manual targeting allows you to focus on high-performing keywords and products.

 

Optimising Product Listings for Prime Day

There’s no better time to ensure your PDPs are looking and sounding their best than in the run-up to a key-selling event. You will want to optimise your products’ titles, descriptions, and bullet points for SEO. Keep your language simple and to the point while still including essential keywords. Draw attention to the qualities, benefits, and USPs of your products and any deals that are exclusive to Prime Day.

High-quality photos can greatly improve your conversion rates. Use a variety of photographs to highlight your product from all sides. Consider incorporating films or 360-degree views. By including A+ content and a brand story, you can enhance the engagement and informational value of your listings.

 

Put your best foot forward with fully optimised product display pages that gain you the most organic reach and improve the user experience

Put your best foot forward with fully optimised product display pages that gain you the most organic reach and improve the user experience

 

Leveraging Amazon’s Promotional Tools

Lightning Deals and Prime Day Exclusive Offers are great ways to generate interest and sales. These time-sensitive bargains can move a lot of stock fast since they make shoppers feel like they need to act fast or fear missing out. Just make sure your deals are super compelling and well-timed.

Discounts and bundles also work wonders for luring budget-conscious consumers. Offering a small discount can increase the attractiveness of your products. Make sure your offers are easy to find and clearly communicated in your listings.

 

Combining offers, in this case, a Lightning Deal and a £10 off voucher, can have a significant impact on your conversions

Combining offers, in this case, a Lightning Deal and a £10 off voucher, can have a significant impact on your conversions

 

Several promotional methods are available to you, including Limited-Time Deals, Offers, and the Prime Day landing page, and you should absolutely take advantage of these to maximise your product’s exposure!

 

Take advantage of Prime Day deals, because every other seller will be!

Take advantage of Prime Day deals, because every other seller will be!

 

Maximising Visibility and Conversion Rates

To remain competitive and ensure that your advertisements are shown on Prime Day, monitor the performance of your campaign and make adjustments to your bids as needed. To maximise conversions, employ dynamic bidding tactics.

Implement A/B testing to find out which ad creatives and messaging resonate with your audience. Testing different images, headlines, and calls to action can help you determine what drives the highest engagement and conversions for future campaigns.

 

This Is Unicorn

 

Managing and Monitoring Campaign Performance

Make the most of Amazon’s reporting tools to track important metrics such as impressions, clicks, and conversions. By analysing this data, you can gain useful insights into your ads’ performance and identify areas for refinement.

You can quickly adapt to changing conditions and capitalise on emerging trends with the help of real-time analysis. Never lose sight of your campaigns and always be prepared to adjust your approach according to performance metrics.

 

Familiarise yourself with Amazon Ads, accessible through Campaign Manager in Seller Central

Familiarise yourself with Amazon Ads, accessible through Campaign Manager in Seller Central

 

Use the results of your analysis to guide your decision-making. If you want your ads to perform better, you need to tweak your bids, keywords, and creatives. This iterative approach will help you maximise your return on investment.

 

Case Study: Prime Day 2023

With 375 million products sold on Prime Day 2023, it became the greatest sales event in history, bringing in $12.7 billion globally! Cha-ching!

So, to help you with your July Prime Day 2024, we’ve compiled the most important lessons from past years to assist you in planning your strategy.

  • The brands that used promotions outperformed those that didn’t in terms of results. The best-performing pricing promotions were those with discounts, including Lightning Deals and coupons or vouchers.
  • Ad spending and total income were higher on the first day than the second, indicating that front-loading campaign investment on Day 1 pays off. There is typically higher demand on Day 1 of Prime Day as shoppers get ready and rush to buy things as soon as the event goes live. In order to improve performance across the board, front-loading the budget can also promote enhanced exposure on Day 2 of the event.
  • Prime Day is effective for both new and best-selling products. While promotions on top-selling ASINs are likely to be successful, we have also seen excellent results from recently introduced ASINs.
  • Customers preferred discounts on more expensive products. We noticed Prime Day appeared to have a greater effect on accounts that sold more expensive products, likely because these reductions were more substantial and enticing to customers.

 

Scaling Advertising Efforts Beyond Prime Day

Prime Day is a fantastic time to track customer actions and see how well your ads are doing. Make even greater use of this information to improve your future advertising strategies. Take note of the strategies that yielded positive results and employ them again in subsequent campaigns.

Keep going strong after Prime Day. You must keep up the momentum to maintain visibility and sales. Use Sponsored Products, Sponsored Brands, and Sponsored Display ads to continue promoting your product will help grow your audience. On the other hand, reduce budgets back to pre-Prime Day levels to avoid overspending and maintain profitable ACoS and TACoS performance for your brand.

Utilise remarketing to encourage customers to make a second purchase. We recommend setting up remarketing to serve ads about 5-10 days after you expect them to have used the product for the best chance of a second purchase (which allows for additional purchases in the future).

Prime Day is just one of many shopping events. Use this knowledge in your preparations for the holidays, Black Friday, Cyber Monday, and any other significant dates in the near future. With a well-planned advertising calendar, you can keep ahead of the competition.

 

Our Thoughts

To sum up, thorough preparation is the key to success. Set clear goals, optimise your listings, and make the most of Amazon’s advertising tools to enhance visibility and sales. Always be ready to make adjustments based on performance data on the fly.

Prime Day presents a significant opportunity, albeit a fierce one. By implementing these strategies, you can position your brand for success. Stay proactive, keep learning, and be open to experimenting with new tactics.

As you prepare for Prime Day, keep in mind that readiness and adaptability are your greatest assets. Use this guide as a roadmap to navigate the event and unlock your full potential. Best of luck, seller, and may your sales reach new heights.

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