Preparing for Amazon’s Next Prime Day
With the most recent Prime Day in the rear-view mirror, Amazon is already gearing up for the next one this fall. Timing has not been officially confirmed yet, but brands won't want to miss out on another massive opportunity to drive traffic and interest in their products.
Before we look forward, here's a quick celebration of some big wins that Amazon and our team had during the last Prime Day:
GLOBAL OVERVIEW:
Managed 2,998 deals (Yup! We know each one!) across all our brands during the July 2022 event
48% growth in total product detail page views, combined across all our brands, compared to Prime Day 2021
32% growth in total ordered product sales, combined across all our brands, compared to Prime Day 2021
AMAZON (source)
Prime members worldwide purchased more than 100,000 items per minute (60,000 of those from U.S. Prime members) during July’s Prime Day event.
Prime members saved over $1.7 billion, more than any previous Prime Day event.
Amazon Live Prime Day streams had more than 100 million views.
As we await official confirmation about the next Prime Day, here are some recommendations to successfully prep your brand for the event.
Analyze Prime Day data.
For brands we support, we've got you covered. Our team uses a mix of analytics and reporting through GOALKeeper, our proprietary tech, to dive deep into your data and help your brand find every opportunity for success. That mix of human touch alongside leading technology is unique among agencies and we’re proud to offer that level of support.
For brands we're not supporting yet, analyzing Prime Day data is a great way to understand your customers’ buying behaviors and how they interact with you. It can help you understand what products are popular, discover new opportunities for growth, and identify areas for improvement.
As a basic starting point, Amazon provides three types of data in its Seller Central dashboard:
Sales by product - Rank the number of units sold during the event.
Sales performance - Compare sales performance against those from previous years (or other events).
Customer engagement – Spend time with your engagement metrics like glance views and sessions in order to understand which products customers interacted with most during Prime Day.
Each of these metrics can help you with key things like future inventory planning, projection modeling for products experiencing growth or decline, and opportunity mapping for those garnering the most engagement.
Not sure what to do with this data? We can help. Email us HERE.
With Buy with Prime Integration, Prime Day is an even better opportunity to drive people to your DTC store.
Buy with Prime is a game-changer for DTC stores, giving brands the opportunity to compound the impact of Prime Day by having multiple selling points (Amazon and DTC stores) while still utilizing Amazon's superior fulfillment process for DTC.
Though it’s still not widely available, Global Overview's close relationship with Amazon gives brands the first-to-market edge over their competitors with early access to Buy with Prime integration.
If you missed the announcement, read the details HERE.
Double down with your own marketing channels.
Strategies combining both Amazon and non-Amazon opportunities create a competitive edge for your brand. Utilizing the full scope of Amazon's ad and customer engagement tools alongside your brand’s own channels (like email and social media) will help create a unique combination of touch points across the customer journey. You'll lay the groundwork for success by building confidence in the customer long before the next Prime Day, magnifying the impact of your deals even further.
Use Prime Day to build brand awareness and customer loyalty.
Prime Day is a unique opportunity for your brand to capitalize on the massive increase in traffic. Think about the full-funnel opportunities from brand awareness to loyalty, and how you can surprise and delight your customers along the way.
Increase awareness by using the event to introduce your brand to new customers
Build loyalty with existing customers through tools like Subscribe & Save
Create a memorable experience with Amazon Live and Posts
Strengthen buyer satisfaction with thoughtful connection points after a purchase
IT'S GO TIME
When the next Prime Day is announced, we'll be ready to help your brand dive into all these details and more. Don't miss another opportunity to position your brand for success during one of the largest online events of the year.