Amazon Prime Day 2024 Strategies & Tips for Seller Success
Amazon Prime Day - Washek Faysal

Amazon Prime Day 2024 Strategies & Tips for Seller Success



What to Know About Amazon Prime Day 2024


Amazon Prime Day is a major shopping event on Amazon that benefits both shoppers and sellers. Exclusively for Prime members, it features incredible deals and discounts on products from top brands and small businesses. Launched in 2015 to celebrate Amazon’s 20th anniversary, Prime Day has grown to surpass Black Friday and Cyber Monday in scale and impact. Originally a one-day event, it now offers better deals each year.


Prime Day drives high sales for sellers and attracts new Prime memberships. In 2023, Prime Day generated over $12.7 billion in revenue, with Prime members buying more than 375 million items and saving over $2.5 billion on millions of deals. The average order value was $54.05, up from $52.00 in 2022. As we approach Amazon Prime Day 2024, economic factors like inflation and recession might influence consumer behavior, with shoppers seeking value-for-money deals. Sellers should focus on offering attractive discounts to meet shopper expectations and ensure profitability.



Strategies That Amazon Sellers need to Follow in 2024:


Amazon Pre-Prime Day Strategy


Starting Your Amazon PPC Advertising Campaign Two Weeks Before to Amazon Prime Day



If you haven’t launched any Amazon Ads campaigns yet, you should start at least one/two weeks before Prime Day. Here’s why:



High Purchase Likelihood:

  • According to Amazon surveys, 75% of shoppers are very likely to buy a product during Prime Day that they have already discovered in the lead-up to the event.
  • Advertising your products before Prime Day increases their visibility to potential buyers who are ready to make a purchase.



Effective Campaign Types:

  • Use Sponsored Ads campaign type both before and during Prime Day to maximize product exposure.



Data Collection for Optimization:

  • Advertising campaigns need at least two weeks to gather sufficient data for PPC optimization.
  • Identify which keywords, categories, and ASIN targeting work effectively.
  • Determine which keywords should be moved from an automated campaign to a manual one for specific bidding on Prime Day.



Optimization and Budget Efficiency:

  • With enough data collected before Prime Day, you can make informed decisions to optimize your Amazon PPC campaigns.
  • This allows for efficient use of your advertising budget, ensuring better campaign performance during the event.




Review Amazon Prime Day Historical Data



If you have been selling on Amazon for some time, it is crucial to review data from previous years. Consider the following:



Successful Products:

  • Identify which products performed well during past Prime Day events.



High-Performing Keywords:

  • Determine which keywords yielded the best results in terms of visibility and sales.



Underperforming Elements:

  • Analyze which products and keywords did not perform as expected.



Your insights from these questions provide a valuable foundation for crafting your Amazon Prime Day strategy.




Key Insights from Amazon Prime Day



We conducted an in-depth analysis of Prime Day data and reached several key conclusions:



High Shopper Awareness:

  • Consumers were highly aware of the sale event and planned their purchases accordingly.



Success of Lower-Priced Items:

  • Products with lower prices saw the highest sales volumes.



Increased Competition:

  • More businesses advertised during Prime Day, leading to higher bid prices for those who did.



All these findings are based on comprehensive data analysis.




Determine the Optimal Products for Amazon Prime Day



As a seller, you might be tempted to clear out slow-selling products from your website during Prime Day to avoid long-term storage fees. While this strategy has its appeal, it also has potential downsides. Here are key points to consider:



Potential Risks:

  • If a product has had consistently weak sales, Prime Day is unlikely to significantly boost its performance.



Optimal Investment of Advertising Budget:

  • Focus on promoting products with special deals, such as Lightning Deals or coupons.
  • Invest in advertising for your best sellers.
  • Promote well-rated products (those with ratings above 3.5 stars).



Benefits of Strategic Advertising:

  • Increased sales of your top-performing products.
  • Improved sales rank for these advertised products


Pre-Prime Day PPC Tips
Pre-Prime Day PPC Tips


Long-Term Advantages:

  • Enhanced sales figures for weeks after Prime Day due to the brand halo effect.



By strategically investing in high-potential products, you can maximize the benefits of your advertising budget during Prime Day.




Utilize Different Amazon Advertising Campaign Options for Amazon Prime Day



Once you have identified the products for your Amazon Prime Day strategy, proceed with selecting ad campaign types and targeting methods. Key steps include:



Sponsored Products Campaigns:


Strategic Targeting:

  • Target by product type.
  • Target by brand.
  • Target by product price.
  • Target single, multiple, or large packs.
  • Target by keyword type.



Benefits of Strategic Targeting:

  • Makes your ads more specific and relevant.
  • Allows better monitoring of individual campaigns and product performance.



Best Practices:

  • Use a consistent naming pattern for your campaigns to maintain organization and clarity.



By focusing on these elements, you can create a well-structured and effective Amazon Prime Day advertising strategy.




Secure Your Brand's Visibility on Prime Day Through Strategic Bidding on Your Own Branded Keywords



It's common for other Amazon sellers or vendors to bid on your brand terms and products to capture your brand traffic for their own products. To safeguard your brand during Prime Day, consider the following strategies:



Secure your brand's online presence by bidding on branded keywords:

  • Bidding on your brand keywords prevents competitors from diverting your potential customers.



Raise the daily allocation for advertising:

  • Navigate to your Amazon Seller Central dashboard.
  • Begin increasing your daily advertising budget two weeks prior to Prime Day.
  • Increased visibility through higher ad spending gathers more data for campaign optimization.
  • On Prime Day itself, ensure your daily budget is at least doubled from normal levels; tripling it further boosts your chances of success.




Ramp Up Inventory & Ensure Amazon FBM is Primed for Deployment



To ensure smooth operations during any sales event, especially to avoid running out of stock, follow these proactive steps:



Inventory Review and Replenishment:

  • Review your inventory well in advance of the event and replenish as needed.
  • Consider doubling or tripling your usual lead time to mitigate supply chain bottlenecks.



Prepare for Delivery Delays:

  • Even with sufficient stock, anticipate potential delays in deliveries.
  • Establish Amazon FBM (Fulfilled by Merchant) as a backup plan to ensure orders can be fulfilled promptly.



Benefits of Amazon FBM:

  • FBM provides a contingency if your primary fulfillment method encounters issues.
  • You can utilize external warehouses or vendors to manage fulfillment on your behalf, maintaining operational flexibility.



By implementing these strategies, you can minimize disruptions and ensure efficient fulfillment during critical sales events.




Optimize Your Product Listings on Amazon Prime Day to Enhance Search Rankings & Conversions



To maximize your organic sales on Amazon and enhance your advertising effectiveness, regular optimization of product listings is essential. Here’s why and how you should integrate this into your Amazon Prime Day strategy checklist:



Importance of Optimization:

  • Regularly optimizing your product listings boosts organic sales.
  • Effective listing optimization is crucial when starting Amazon advertising.


Check out Hourly Stats of Amazon Trends
Check out Hourly Stats


Integration into Prime Day Strategy:

  • Include listing updates in your Prime Day checklist for comprehensive preparation.



Key Areas for Improvement:

  • Enhance product titles to be clear and keyword-rich.
  • Refine product descriptions to highlight key features and benefits.
  • Optimize images for quality and relevance to attract more clicks.
  • Update other elements of your listings to ensure they meet current standards and trends.



By prioritizing listing optimization as part of your Prime Day strategy, you can enhance product visibility, attract more customers, and maximize sales opportunities.




Enhance Your Product Listings for Mobile Devices to Improve Visibility & User Engagement



Mobile sales are on the rise, necessitating the optimization of your product listings for mobile devices.


  • Regularly check how your listings appear on mobile devices to ensure optimal presentation.
  • Include a clear main image that highlights your product's best features.
  • Use additional images to showcase various angles and features.
  • Complement images with concise text that emphasizes key product benefits.
  • Utilize comparison tables to effectively differentiate your product from competitors.
  • Enhance engagement with product videos that demonstrate its use and features.



Prepare Your Amazon Ads Strategy:

  • Review historical data to identify successful products and optimize for Prime Day deals.
  • Analyze previous Prime Day sales reports to anticipate market trends and competitor strategies.
  • Seek additional Prime Day advertising tips available on Amazon’s platform.
  • Start Amazon PPC campaigns at least 2 weeks before Prime Day to build momentum and optimize performance.



Manage Inventory and Fulfillment:

  • Ensure sufficient stock levels to meet anticipated demand during Prime Day.
  • Consider leveraging Amazon FBM to expedite order fulfillment and delivery.
  • Prepare in advance to mitigate potential delivery delays and ensure customer satisfaction.



Although preparing for Prime Day requires effort, the strategic investments in optimization, advertising, and inventory management will yield significant returns when the event arrives.




Amazon Prime Days Strategy


Optimizing Your Amazon Prime Day Marketing Approach Can Significantly Enhance Visibility & Sales



Keep a close eye on your Amazon PPC campaigns to fine-tune their performance:

  • During Amazon Prime Day, monitoring your activities is crucial, encompassing PPC campaigns, stock levels, and customer reviews.



Monitor Your Amazon PPC Campaigns:

  • During Prime Day, regularly assess the performance of your Amazon PPC campaigns and make adjustments as needed.


Prime Day PPC Strategy
Prime Day PPC Strategy


Budget Management:

  • Increase daily budgets promptly if they deplete too early in the day to prevent campaign interruptions.



Optimization of High Performers:

  • Adjust bids dynamically for keywords or product targeting attributes (ASINs, categories) that demonstrate strong performance.
  • Higher bids on top-performing elements can amplify impressions and enhance sales potential.



Competitive Edge:

  • Avoid potential losses by increasing bids if ads receive insufficient impressions or clicks, indicating competitive pressures.
  • Staying ahead of competitors on Prime Day ensures effective use of advertising budget without wastage.



By actively monitoring these aspects, you can optimize your Amazon Prime Day strategy for maximum impact and profitability.




Stay Updated on Your Inventory Status



  • Maintaining adequate stock levels before Prime Day is crucial for maximizing sales and campaign effectiveness. Act swiftly if any product inventory approaches depletion.
  • Stockouts can significantly harm sales performance and advertising efforts, so proactive management is essential to prevent such situations.
  • If you anticipate potential stock issues, consider leveraging Amazon FBA (Fulfillment by Amazon) to fulfill orders swiftly and efficiently.
  • It's prudent to have contingency plans in place, ensuring seamless order fulfillment during high-demand periods like Prime Day.




Ensure Timely Responses to Customer Inquiries & Reviews to Foster Trust & Engagement



During Prime Day on Amazon, shoppers often compare multiple products and frequently ask questions. Reacting promptly to inquiries and reviews can give sellers a competitive edge.

Key Strategies for Handling Customer Inquiries and Reviews:



Respond Promptly to Inquiries and Reviews:

  • Ensure quick responses to every customer inquiry and review during Prime Day.
  • Timely responses can differentiate your brand and influence purchasing decisions positively.



Update Product Detail Pages for Common Questions:

  • Identify recurring questions and update product detail pages accordingly.
  • Addressing common queries preemptively can streamline customer service and enhance user experience.



Balance Between PPC Monitoring and Customer Engagement:

  • Dedicate efforts to both monitoring Amazon PPC campaigns and responding to customer inquiries simultaneously.
  • Effective multitasking ensures that marketing efforts and customer satisfaction are maintained.



Managing Workload During Peak Times:

  • Acknowledge that peak times may overwhelm response efforts occasionally.
  • Prioritize critical tasks like inventory management and campaign optimization to avoid neglecting essential aspects of your business.



Prioritize Inventory Management:

  • Maintain sufficient stock levels to prevent inventory shortages during high-demand periods.
  • Running out of inventory can lead to missed sales opportunities and inefficient use of advertising funds.



In summary, proactive customer engagement and efficient management of PPC campaigns are crucial during Amazon Prime Day. Balancing these responsibilities ensures optimal performance and customer satisfaction, ultimately contributing to sales success.




Post-Prime Day Strategic Planning


Continue Optimizing Your Top Amazon PPC Campaigns



Even after Prime Day concludes, many customers continue to explore Amazon for products they missed during the event. The sales window of 48 hours is brief, and shoppers may still anticipate post-Prime Day deals.

Here’s why you should keep your Amazon advertising active even after the event ends:


Post Prime Day PPC Strategy
Post Prime Day PPC Strategy


Continuous Shopping Behavior:

  • Shoppers often return post-Prime Day to find missed deals or explore new offerings.



Maintain Visibility:

  • Keep your products visible to capitalize on lingering interest and post-event shopping.



Optimize Successful Campaigns:

  • If certain ad campaigns show strong performance, consider extending their run to maximize profitability.



Reinvesting Profits:

  • Reinvesting part of your profits into online advertising can yield new sales and sustain momentum.



Strategic Investment:

  • Evaluate campaign profitability to determine the optimal allocation of advertising budget post-Prime Day.



By maintaining active advertising post-Prime Day, you can leverage ongoing customer interest and potentially extend the benefits of the sales event.




Utilize Sponsored Display Ads as a Retargeting Strategy to Reach Interested Audiences



When potential customers visit your product details page but don't complete the purchase, retargeting becomes crucial:



Understanding Customer Behavior:

  • Shoppers may have left without completing a purchase due to various reasons, such as timing issues or needing more information.



Opportunity for Engagement:

  • These visitors are prime candidates for retargeting campaigns, as they have already shown interest in your product.



Effectiveness of Retargeting:

  • By displaying ads both on and off Amazon platforms, you can remind these potential buyers about your product, encouraging them to reconsider and complete their purchase.



Enhancing Conversion Rates:

  • Retargeting efforts aim to nudge hesitant buyers towards conversion, capitalizing on their initial interest.



Strategic Ad Placement:

  • Place retargeting ads strategically to maintain visibility and engagement with potential customers, increasing the likelihood of converting visits into sales.




Allocate Additional Time for Dedicated Customer Support Services to Enhance Satisfaction Levels



Prime Day presents a significant opportunity for sales growth, but it also entails a subsequent increase in post-event workload. As sales volume rises during Prime Day, anticipate heightened demands in the following areas:


  • Customer Inquiries: Prepare for an influx of customer questions and requests post-Prime Day.
  • Returns: Expect a rise in product returns as customers review their purchases.
  • Refunds: Prepare to process more refund requests due to increased sales volumes.



When strategizing for Prime Day, allocate additional resources and time for managing these post-event responsibilities, particularly in customer support.




Collect Valuable Insights to Optimize for Future Amazon Sales Events



After evaluating Prime Day results, whether successful or not, you gain valuable insights that should be documented for future reference. Here are key questions to guide your assessment:



Performance Evaluation:

  • Identify which keywords, ASINs, and product categories performed well during Prime Day.
  • Note which keywords, ASINs, and categories underperformed.



Product Analysis:

  • Determine which products had high sales volumes and which ones struggled.
  • Assess which daily budget allocation proved most effective.



Campaign Effectiveness:

  • Review the bids that achieved optimal visibility and compare performance across different bid levels.



Utilizing Insights for Future Events:

  • Apply these insights to optimize strategies for upcoming Amazon events like Black Friday, Cyber Monday, and potential October or next Prime Day.



Extending Sales Impact:

  • Post-Prime Day, continue leveraging successful PPC campaigns to maintain momentum and engage potential customers.



Retargeting Strategies:

  • Utilize Sponsored Display ads to retarget users who visited product pages but did not complete purchases, maximizing conversion opportunities.



Analyzing Performance:

  • Regularly analyze analytics reports to monitor Amazon PPC performance trends and inform future campaign adjustments.



By documenting and analyzing these insights, you can refine your approach and maximize success in future Amazon sales events.




Conclusion


By implementing these strategies diligently, you can enhance the effectiveness of your Amazon PPC ads during Prime Day, ultimately boosting sales and maximizing your ROI.



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