Amazon Prime Day 2024 is quickly approaching. Although the dates have yet to be confirmed, Prime Day will likely fall in the middle of July.
Last year, the 48-hour Prime Day window marked the largest event to date, with U.S. sales hitting a staggering $12.7 billion, a notable 6.1% increase from the previous year. Globally, Prime members purchased over 375 million items, enjoying savings exceeding $2.5 billion.
If the last few years are any indication, Prime Day 2024 will be bigger than ever, so it’s important to have team-wide alignment on your Prime Day strategy. Whether your aim is to increase sales, clear out old inventory, promote new products, or gain new customers, goals should be specific and measurable.
In the coming months, we’ll be rolling out a series of articles designed to keep you informed and equipped to maximize your potential during Prime Day 2024. We’ll start our series with some strategies you can take action on now to set your brand up for success this July.
Optimize Your Listings
For brands, having informative, compelling, and well-optimized content is essential for influencing consumer decisions. Here are a few areas to focus on to create better content and enhance brand visibility.
Keyword Research
Conducting thorough keyword research is an important step in optimizing your product listings. Strategically include high-volume keywords into your product title, bullet points, and descriptions to enhance visibility. Leveraging a ASIN PAT Research Tool can provide brands with actionable data like best seller rank, sales volume history, reviews, and a list of the top competitive ASINs. Maintaining a balanced approach between keyword targeting and creating visually appealing and informative content will provide a seamless shopping experience.
Amazon A+ Content
Creating A+ Content for product listings is an effective way to set your brand apart from competitors and connect with potential customers. This tool enables brands to enhance product descriptions with detailed text, multiple images and modules, providing consumers with a better understanding of the product’s benefits. Clear descriptions empower consumers to make informed purchase decisions, leading to improved conversions and fewer returns. A+ Content also provides brands an opportunity to showcase their story, grow brand awareness, and build customer loyalty.
Design & Copy
As your brand fine tunes its Prime Day strategy, create attractive visuals that effectively showcase your product. Given the timing of Prime Day, leverage seasonal imagery that resonates with the summer season. Bright, fun, outdoor imagery can help your brand establish a stronger emotional connection with your audience that will drive better engagement and higher conversion rates.
Highlight product features and combine images and videos with text to provide comprehensive details to help consumers better understand your brand offerings. Write grammatically correct and concise descriptions and titles that offer enhanced visibility into products, while using high-quality images, videos, and graphics that can significantly help capture attention and increase click-through rates.
Audit & Optimize
Taking the time to conduct an audit and optimize your product listings is a crucial step to being ready for Prime Day. If you’ve taken the steps from the previous sections, like including important keywords into product titles, utilizing bullet points, including high-resolution imagery or product videos, and ensuring up-to-date content, you’ll be well-positioned to capture the attention of your target audience and convert clicks into conversions.
Once you’ve completed your audit and optimization of your product listings, the next step is to create a dedicated page on your Amazon Brand Store dedicated to Prime Day promotions and offers. We’ll dive into that in the next section.
Leverage the Right Promotions
Going into Prime Day, it’s important to have a clear grasp on the types of promotions that are available and which ones might be the best fit for your brand. Let’s explore a few types of promotions your brand can leverage this summer.
Lightning Deals
Lightning deals are limited-time discounts that can last for as little as a few hours and are over once the product is sold out. Leveraging Lightning Deals can help brands attract new customers, increase organic search placement on Amazon, and improve conversion rates. They can also be costly. In addition to the discounted price of the product, brands must also pay for hosting the promotion, which lowers the ROI. Using Lightning Deals as part of a comprehensive Prime Day strategy is a more effective route than relying only on these short-term promotions.
Deal of the Day
These 24-hour deals are highly visible on Amazon and are ideal for brands looking to move many units or increase product and brand visibility. This is the highest impression deal Amazon offers, but also comes with a high cost per unit.
Prime Exclusive
These discounts are only available to Prime members and appear in search results and on tentpole events, such as Prime Day. Product offers with a Prime Exclusive discount will show the reduced price with the regular price crossed out in the buy box leading to improved conversion rates and click-through-rates for brands.
Coupons
All products are eligible for coupons and are displayed on the brand page, product detail page, or inside the customer’s cart. Coupons are a low-cost way of increasing click-through-rates due to the visibility on search and ad pages.
5 Tasks to Prepare for Prime Day
As we’ve covered in this post, starting your preparations early is the best way to ensure a smooth and efficient Prime Day for your brand. Early planning allows you to be flexible to react to shifts in consumer behavior. Here are five actionable steps you can take this week to get ahead of the game.
- Test and Learn: Play around with custom headlines, product descriptions, audience targeting, imagery, and Sponsored Brand Video in the months leading up to Prime Day to see what resonates. Per Amazon, Sponsored Brand Video campaigns have a higher click-through-rate compared to different ad types. Boost creative output by testing generative AI for image creation. By leveraging AI, your brand can streamline the process of creating engaging Sponsored Brands images, that enhance brand visibility and drive conversions.
- Revise Targeting Segments: Create better targeting for each audience and new-to-brand customers by developing more highly detailed segments to make campaigns easier to optimize. Go one step further by creating custom audiences for use in DSP campaigns with AMC Audiences. This tool enables you to create custom audiences tailored to your brand’s objectives. For example, you can create an audience composed of users who explored certain keywords after being exposed to an ad or those who abandoned carts without completing a purchase.
- Drive Campaigns to Brand Store: Drive Sponsored Brands campaigns to your Brand Store rather than individual ASINs. Linking Sponsored Brands campaigns to a Brand Store can deliver better ROAS compared to linking to a product list page.
- Update Brand Stores and Prime Day Content: Schedule changes to your Brand Store ahead of time so you don’t have to worry about submitting at the last minute and risking the updates not going through in time. Consider including Prime Day specific copy and images highlighting the ASINs you are promoting.
- Plan Prime Day Budgets: Determine your full budget ahead of time so you can be flexible to adjust your budget during the 48-hour period to take advantage of new opportunities. Leveraging tools like Pacvue’s Dayparting and Budget Manager makes it easy to optimize ad performance. These tools enable automatic bid adjustments, lowering bids during low-converting hours while boosting them during peak periods. By fine-tuning your bidding strategy in real-time, you can capture more conversions and increase ad spend efficiency.
Learn More
Check back in the coming weeks to learn more strategies that will help your brand win Prime Day. And contact us today to learn more about the Pacvue Platform and how our team can help scale your brand across dozens of retailers.
