What is so great about Amazon Prime Day?
They’re one of the biggest shopping days of the year when the world’s largest online marketplace treats its loyal customers to exclusive deals.
But Prime Day isn’t all about Prime members. It can hugely impact an Amazon seller’s business – for better or for worse, depending on how prepared you are.
So, how can you harness the full potential of this extraordinary event? By implementing a series of strategic measures such as advertise, stock up on inventory, optimize your listings, review your pricing strategy, check available shipping options, and get social.
We’ll talk about all that, plus last-minute prep tips. Read this artice to be well prepared.
How Do I Optimize Prime Day as an Amazon Seller?
It’s official, as per Amazon’s bulletin:
Prime Day 2023 opens on July 11 at 12:00 AM PST and closes on July 12 at 11:59 PM PST.
With only a little time in hand to prepare for Prime Day and get your products ready for the spotlight during the 48-hour shopping frenzy, here’s what you need to do. Starting now.
MORE: When is Amazon Prime?
1. Be Picky With Your Participating Products
Resist the temptation of including all your merchandise in your Prime Day promotions, thinking it’s the best time to market them. It’s not.
In fact, poor-performing ASINs are a waste of precious ad money and could hurt your bottom line. Because Amazon’s algorithm will likely ignore them.
These are the characteristics of listings you should NOT promote on Prime Day:
- Not-so-good product images,
- Text content not optimized with high-ranking keywords,
- Less than 15 positive reviews,
- Rating of lower than 3.5 stars,
- Very low or zero inventory.
2. Consider Increasing Your Advertising Budget
Study all the available ways to promote your listings to potential customers. On Amazon, there’s never a shortage of those. And the best part is you can do them all right in the comfort of your Seller Central account.
Be Smart With Pay-Per-Click Bids
If you haven’t tried Amazon’s Pay-Per-Click (PPC) Ads feature yet, now is a good time to do so. But proceed with caution.
PPC involves bidding, with the ad spaces awarded to the highest bidder. You can only imagine how competitive Amazon sellers can be on Prime Day, and those with substantial budgets will likely jack up the prices.
When working on a shoestring, you may pool your resources to promote just one or two products. Make sure to pace your bids so your budget will last 48 hours.
Alternatively, you could shift gears to other avenues.
Create Prime Exclusive Deals
What is Prime Exclusive Deal? It’s a discount that you offer exclusively to Prime members. When they search for products similar to yours, your listings get displayed in the search results, with a Prime Day badge to boot.
There’s a caveat, however — Amazon sets the following requirements on products:
- Not less than 10%, not more than 80% discount,
- If you offered any discount in the past 30 days, your current offer should be lower,
- Minimum of 3-star rating (ASINs without a rating are eligible),
- Brand new,
- Enabled Prime Shipping to all regions in your country.
Use Sponsored Products
Another way to offer a good Amazon Prime Day deal is to use Sponsored Products to advertise your deals. Like Exclusive Deals, Sponsored Products are ads that appear in search results and boost your product visibility. An ingenious way to drive more traffic to your store.
Utilize Lightning Deals
Lightning Deals are limited-time offers that run for 4-6 hours or until the stock runs out. They are a great way to create urgency and generate more sales during Prime Day, when Amazon usually features them prominently on its homepage. Make sure you take advantage of this opportunity.
Like Exclusive Deals, Lightning Deals must meet the above requirements, plus at least 20 inventory units in stock. However, the minimum discount is higher at 15%.
It’s also worth noting that these deals entail a non-refundable fee. Normally, it’s $150 per deal, but on Prime Day (and on holidays or other Amazon-wide sales), it would be $300-$500.
MORE: Amazon Statistics.
3. Make Sure Your Inventory is Stocked Up
The key to Prime Day success is having your products readily available and at the right price. This will help boost sales and revenue for your business.
Ensure you have enough of your best-selling products to avoid running out of stock during Prime Day.
If your main fulfillment channel is FBA (Fulfillment By Amazon) and you’re running low on inventory, you can always turn on your FBM (Fulfilled By Merchant) option come Prime Day.
You can do both FBA and FBM for the same ASIN. And when your FBA inventory clocks zero, your FBM offer automatically goes to the Buy Box. To make that possible, fill in the number of units box of your FBM inventory.
Remember, though, that fulfillment is not as simple as that. You need storage for your inventory, packaging for your products, and arrangements with carriers like UPS and FedEx.
What if storage and fulfillment are a challenge? Get a third-party shipping and order fulfillment service (3PL). Check out our list of recommendations here.
4. Optimize Your Listings
Below is a shortlist you can follow:
- Use professional-grade product images, with instructional guides and information in the text if possible,
- Include relevant keywords in your product title, bullet points, and product description,
- Ensure the accuracy of published pricing and inventory numbers,
- Activate inactive and suppressed listings (or don’t promote them at all on Prime Day),
- Respond to reviews and answer queries in the Q&A section.
Be aware that while Prime Day deals are exclusive for Prime members, everyone who shops on Amazon can view your listings. So make sure they are optimized and attractive to a wide audience.
Need help? Our list of recommended Amazon listing experts is the best way to start.
5. Beef Up Your Pricing Strategy
Prime Day is about discounts, but be careful not to undercut your profit margins. Think of setting minimum order quantities or bundling products to maintain your profitability.
Does Amazon pay extra on Prime Day?
No. On the contrary, Amazon sellers are charged a fee for participating in Prime Day. It varies depending on your sales volume, product category, fulfillment channel, and other variables.
It’s important to factor this into your pricing strategy.
Prime Day fee notwithstanding, you may earn more revenue than on regular days due to the increase in sales. This spike may also help improve your listings’ search ranking on Amazon, leading to higher future revenues.
6. Check Your Shipping Options
Feel like your strategies aren’t competitive enough? Consider offering free shipping or upgrading shipping options to entice Prime members to buy from you.
7. Leverage Social Media
Use your Facebook, Instagram, Twitter, and YouTube pages to promote your Prime Day deals and generate buzz around your products. Don’t forget to add clickable buttons that redirect to your Amazon store or product pages.
Preparing For Amazon Prime Day: Last-Minute Tips
Prime Days are like weddings — you can never be prepared enough on D-Day.
Here are some last-minute tips to ensure that you’re ready for the big event:
- Double-check your inventory: Ensure you have enough of your best-selling products to avoid running out of stock. Not all Amazon shoppers are Prime members, and they could purchase your products before and on Prime Day.
- Create Lightning Deals: If you haven’t already, doing so on the event day itself is not too late.
- Review your listings: It wouldn’t hurt to triple-check if all the I’s are dotted and the T’s are crossed, the product images are crisp and clear, the pricing is correct, and the inventory status is accurate.
- Be flexible: Prime Day can be unpredictable. While having a plan in place is important, be prepared to pivot if necessary. Flexibility can help you adapt to changing market conditions and customer needs.
By following these last-minute tips, you’ll be more than ready to take advantage of the increased traffic and sales opportunities synonymous with Amazon Prime Day.
As an Amazon seller, it’s crucial that you understand the impact of Prime Day and how it can influence your sales.
With the sheer number of active Amazon Prime members shopping on Prime Day, the potential for increased traffic, conversions, and revenue is huge.
Even if your products are not exclusive to Prime members, Prime Day presents an opportunity to reach a large and engaged customer base. That will translate to new future buyers.
With proper planning and execution, Prime Day can be a huge success for your business.