Amazon Prime Day is one of the world’s biggest shopping events each year. Last year alone, analysts forecasted that shoppers would spend about $10 billion worldwide, with about $6.17 billion of that revenue coming from the U.S.
How can you and your brand capitalize on this big day with the products you sell on Amazon Marketplace? By following a little Expert advice. So here are some Amazon Prime tips that can help you make the most of Prime Day.
Preparing for Prime Day
First, let’s talk about what you can do ahead of the big day to put all your ducks in a row.
- Learn What Items Are Popular on Prime Day
Some products are simply more popular on Prime Day than others. Last year, consumers purchased a lot of:
- Amazon products
- Smart home products
- Instant Pots
- Electronic accessories
- Hygiene products
How do your products compare to this list?
If you have a product on that list, then you know which to promote this summer. If you don’t, it’s still very possible to make money. Simply promote your products that performed well in the past year. Alternatively, if you have products you haven’t promoted for Prime Day in the past, and they fall into one of these categories, you might consider doing so now.
- Promote Your Products
Let your leads and customers know ahead of time that your products are available for purchase, that they will be discounted on Prime Day, and what that sale price will be. This can be done with ads, emails, social posts, and more.
- Make Sure Your Products Are in Stock
If you properly prepare and promote your products, then you could see a drastic boost in sales. This is good news, but increased demand also requires increased supply. So, do a little inventory forecasting, and stock up.
While it’s perfectly normal to sell out of a product on Prime Day, you should still stock up with as much inventory as you predict will be needed. And while surplus inventory can be a bad thing, this is one day on the Marketplace where it definitely pays to have too much rather than too little.
- Optimize Your Listings
To help your sales see the light of day, you need to invest in listing optimization. Enriching your product listings with targeted keywords, A+ content, and high-quality images and videos can increase your listings’ visibility and get you more leads. Additionally, qualifying for Prime Delivery can also increase your exposure.
If you’re not sure if your products are search engine-optimized, Buy Box Experts can perform a free analysis to show you where the holes are in your listings.
Tips and Tricks for Prime Day
Once you’re adequately prepared for the big day, make sure you implement some of these Amazon Prime tips and tricks to optimize your reach and sales.
- Lower Your Prices
People come to Amazon Prime Day for the deals. Ergo, capitalizing on that buyer intent usually requires offering such a deal if you want any attention.
How you do this is up to your business acumen. You could sacrifice a healthy profit margin in order to offer a significant discount without cutting into your profits. You could have a more modest sale on an item with slimmer margins that you expect to sell in large numbers, so profit from moving a higher volume of units. Or, you could create a loss leader as an entry point offer.
- Track Your Promotional Sales
As you go through Prime Day, you should be tracking how your sales are performing. The consumer patterns you notice during Prime Day can help you further optimize your strategy for next year. The information you gather can also better prepare you for other promotional events, like Black Friday and holiday seasons.
Get Better Prepared with Buy Box Experts
Your success this Prime Day almost entirely depends on the preparations you make leading up to it. The best way to prepare? By implementing digital marketing campaigns with Buy Box Experts.
When you combine proven marketing strategies with these Amazon Prime tips and tricks, you have a better chance at impressive results this Prime Day. Contact Buy Box Experts to start your preparations today.