Partnership Series: Amazon Prime Day Advertising Checklist
Amazon Prime Day is the online shopping event of the summer, and every year it picks up steam. Last year alone drove an impressive list of retail media stats:
- U.S. Prime members saved over $1.7 billion, more than any previous Prime Day event
- U.S. Prime members purchased 60MM+ items per minute
- The majority of users spent more than $100
- Sellers' items grew at a faster rate than Amazon-owned products
- Best selling 2022 items included consumer electronics, household essentials and home products
This year's event will be July 11 and 12. If you have an e-commerce business and are looking to take full advantage of consumer seasonal spending, especially on retail media, you need to be ready before the big day(s). This includes preparing everything from inventory, pricing, and listings to your marketing strategy. Luckily, we are making it easy for you— from start to finish.
Check out how Rise Interactive can help optimize your Amazon advertising approach with these Prime Day marketing tips:
Before Prime Day
- Optimize your PDPs as soon as possible. As Prime Day nears, you’ll want to keep your product listings relatively consistent to avoid jeopardizing your ranking. Therefore, plan to test and determine what works best in the months prior in order to use the best content for the big event.
- Use DSP and Amazon Sponsored ads to fill and close the funnel. Run awareness and consideration campaigns with both ad types two weeks beforehand to grow your audience. Note: Sales tend to drop the weekend prior to Prime Day as consumers wait for the upcoming deals.
During Prime Day
- Allocate your budget wisely through strategy and automation. What we know is that there is no way to predict exactly how consumers will behave every minute of Prime Day. We recommend using a combination of pre-determined strategic thinking and automation for the most effective Prime Day bid strategy. Rise’s experts leverage the right marketplace advertising technology to incorporate tactics like dayparting and automated bidding to most effectively manage your budget.
- Learn from the past. The second day of Prime Day had a higher conversion rate than the first day last year. We observed that consumers spent time browsing on day one then were ready to convert on day two! This behavioral trend happens around the holiday season, as well. Based on this precedent, consider heavier budget allocation on mid-funnel tactics for the first day then push heavy with bottom-funnel on day two.
- Be cautious of competitor conquesting campaigns. The temptation is real here. However, to ensure the most efficient spend, only opt into spending on competitor PDPs if you absolutely know your deal is the best.
06/21/2023 at 01:08
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