As we’ve previously covered, we know Amazon Prime Day 2022 is right around the corner and that it is crucial to familiarize yourself with all things Prime Day in the coming weeks.
Since Amazon has announced that it will be on July 12th and 13th this year, you’ll want to start planning now to be one step ahead of your competitors.
So you can seize the (prime) day, here are 8 best practices to shatter your goals this year:
Amazon Prime Day 2022 Best Practices
1. Inventory! We cannot stress this enough, INVENTORY!
In order to move products, you must have products to sell.
If you are a FBA Seller this means guaranteeing the Amazon fulfillment centers have your inventory before Prime Day. It is recommended that you have a minimum of a 2-month supply available at Amazon fulfillment centers before Prime Day begins.
If you are a FBM Seller, reallocate inventory from other marketplaces, including your website or other ecommerce platforms, for Prime Day.
Amazon’s A10 Algorithm places heavy weight on in-stock inventory. If you run low or go out of stock, it will hurt your visibility for other products as Prime Day continues.
2. Leverage Creative Content on Amazon
Amazon is continuing to concentrate on empowering brands who embrace the creative tools and features available on Amazon.
Do you have at least five images of your product? Have you added A+ content? Have you updated your generic search terms? Is your Amazon Store live and highlighting your strongest products?
These creative features help improve customer trust, your brands aesthetic, and provide additional opportunities to drive traffic to your listings, as well as increase your conversion rates.
3. Smarter Ads, Increase Your Bids
Amazon is pay to play and Prime Day data proves it time and time again. You will be competing with more sellers than usual on Prime Day for sponsored product bids and you don’t want to miss valuable traffic by updating your bids on Day 2.
Increase your bids early, by as much as 50%, to capture customer. We recommend focusing additional ad spend on your top converting/sale driving keywords to see the highest rate of return.
4. Budget for Prime Day and Review Your Ad Content
How’s your CTR? Which campaigns have the highest ROAS? Focusing on smarter ad spend now will benefit you in the long term and provide stronger ads for you on Prime Day.
If you are concerned about having funds to increase your budget for Prime Day, review your ads now. Are they performing intelligently? Do you have daily caps set? If you currently run individual campaign budgets, consider switching to daily budget caps.
Since you will spend more on bids during Prime day, budgets can run out quickly. Monitor your bids closely during the two day sale, adjusting and increasing where needed.
5. Pay Attention During Prime Day
Advertisers should identify fast-moving products and address issues the day of. According to Joe Selzer, it is imperative for Sellers to keep a watchful eye on their account(s). Furthermore, it is critical that they identify and respond to any issues or opportunities as quickly as possible.
“With so many shoppers flooding the Marketplace looking to ‘Buy Now’, anything hindering a Seller’s ability to make their products both discoverable and buyable can spell big trouble in terms of lost sales.”
6. Be Prepared for Aftermath
Things To Prepare For:
- Inventory Needed Post-Prime Day
- Customer Questions
- Additional Returns
- Returning Your Budget to “Normal” Spend
7. Expect Delays
If you are not seeing the sales data you are expecting, be patient. Amazon may not be reporting it yet. Amazon Marketing Services can take several days to make all sales data and reports available.
8. Use What You’ve Got – Including Other Marketing Channels
You are not limited to ads on Amazon. If you run ads on Instagram, Google, Facebook, etc, update them for Prime Day and help improve your conversion rate and sales rank on the Amazon marketplace. You want to drive as much visibility as you can during the event.
Amazon Prime Day 2022 – GO ALL IN
Amazon Prime Day continues to grow each year, exciting return customers and appealing to new customers.
In order to capitalize on Prime Day, it is important to come up with your strategy now and start preparing inventory early. Remember, there is no “one-size fits all” when it comes to your strategy for Prime Day. Cater your plan of action to what makes the most sense for your company and the products you are moving.
Give yourself the time you need to prepare the smartest game plan for Prime Day!
Have any questions? Reach out to us here and we’ll set up a free consultation.