When is Amazon Prime Day 2023? July 11 – July 12, 2023. Get ready for the best strategies to maximize your return as an Amazon FBA Seller!Prime Day is a yearly event that represents an incredible opportunity for Amazon FBA Sellers in order to increase sales (and profit if done correctly) as well as brand exposure / recognition and product rank! As you might already know as an experienced Amazon FBA/FBM Seller, this year Prime Day will happen on July 11-12, 2023. In 2022, the total revenue on Prime Day amounted to $12 billion, approximately $1 billion more than the previous year 2021, we expect the numbers to continue growing in 2023. Prime Day 2023 July 11-12: these two days are going to be a great chance for all Amazon sellers to advertise their stores, best products and best deals. Keep reading because in this short but effective guide we will show you how to maximize your branding & marketing strategies and how to ultimately increase your revenue.
Why should sellers pay attention to Amazon Prime Day 2023?After Black Friday and Cyber Monday, Amazon Prime Day is the single day of year when people are most likely to shop online, and that’s the main reason why every seller and marketer should sit down and invest some time and money in a strategy that will attract new customers to their store.
How to maximize the performance of your Amazon Business during Prime DayAs you already know, there are countless brands/sellers on Amazon and all of them are trying to get a piece of large customer base during the sale events. Boosting your store’s performance won’t be easy. In order to sell more and to properly rank your products on Amazon, you need to consider A LOT of elements: conversion rate, sales, clicks, purchase frequency, SEO (title, bullet points, keywords) relevancy score, search terms, paid advertising… the list is long and we are not going to explain all the factors here but you might find very useful to read this Amazon Product Rank Quick Guide for Sellers Here are some of the winning strategies to attract new customers and increase sales before, during and after Prime Day. You can gain a significant advance on your competition by following these first easy and actionable 12 steps for Amazon Sellers:
1. Know what the Shoppers are looking for on AmazonReading through this post from Influencersmarketinghub, we have found out some interesting things, and here’s how this could affect your Amazon FBA business: Most shoppers are still interested in electronic devices and accessories, attracted by the big discount, but…
- The average consumer spending went from $58.91 on Prime Day 2019, to $54.64 in 2020, to $47.00 on Prime Day 2021, to come up to $52.26 on 2022. As an Amazon Seller, get ready to give bigger discounts to attract users and to deal with the insane competition.
- 78% of consumers know already about Prime Day and Those who spent $500 during the previous Prime Day are likely to spend double the following Prime Day. This means, that your customers are probably already expecting to see discounts from you (and from your competitors) so you’d better get some remarketing done in order not to miss this chance. Be sure to make full use of the remarketing possibilities that you have right now for your Amazon store, that might include Amazon Sponsored Display Ads, your newsletter database, Facebook Ads, Social Media, and others…
- Men spend more during Prime Day than women do. Also, men are most likely to spend more than $99 during Prime Day, compared to women. Choose wisely your communication style.
- Nearly half of consumers say that Prime Day leads to unplanned purchases. This might be a good opportunity to get more eyeballs on your brand and acquire new consumers.
- Live shopping is going to be a hit also this year, with hundreds of million views. Definitely consider getting your product on the hands of some influencer who’s able to do Amazon Live, we have talked about this topic on the video below
2. Use Lightning Deals and Coupons frequently – before and after Prime DayOne of the quickest and best ways to increase sales during Prime Day is to utilize Lightning Deals offered by Amazon. Lighting deals are quick deals with high visibility across the platform that generically last only for a few hours. This tool is time-limited but is an excellent choice for increasing sales momentum and to gain visibility not only during the Prime Day but also before and after. Keep in mind that a new store can’t benefit a lot from this strategy as there are a lot of requisites such as number of reviews, rating quality, sales history etc. Remember that deals on Amazon start popping up a few days before Prime Day. Shoppers might be looking for deals already on July 8-9, so make sure to get your discounts ready well before Prime Day, using all the combinations available. Keep offering discounts with coupons or special promotions also after Prime Day. Using Amazon Coupons is one of the easiest ways to increase conversion rate and to gain more visibility to your products: products that show coupon discounts are most likely to convert into sales (just a small 5-10% discount is enough) and will receive a green badge that will make them stand out from the competition both on organic and paid search results. Pro Tip: a higher absolute number is always better in the eye of the buyer ($7 is better than 5%). Note also that the redemption % of Amazon coupon is quite low (generally around 20% of sales end up in customers having used the coupon) but it’s nevertheless a great opportunity to gain visibility on the search results page and to attract more customers. Some other deals you might want to consider, listed below – you might have to get in touch with Amazon for some of them:
- Top Deals
- Prime Exclusive Best Deals
- Prime Member Coupons
- Prime Exclusive Discounts
3. Do the right Inventory ManagementSort out your inventory (Amazon FBA / FBM) before Prime Day and that will save you from a lot of trouble once the big selling begins. Take a close look at your listings front and back end especially if your store holds a lot of items. Rearranging and putting them into categories will help a lot and your store will look more professional and attractive to customers. Make sure that for each product you are advertising on and off Amazon you have enough stock and you have the buy-box. Pro Tip: You might also want to merge some of your listings, in order to take advantage of multiple reviews and to get better ranking for some of the related & shared keywords. READ MORE: HOW TO MAKE YOUR AMAZON BUY BOX EFFICIENT Remember also to create custom FBM offers – in case you run out of inventory on FBA! You definitely don’t want to run out of stock, especially during Prime Day. Here’s a quick guide on how to set up your FBM offer:
- Go to “Add Products” in Seller Central.
- Enter your ASIN.
- Click “Sell this product,
- Enter a new SKU to identify the FBM offer and
- “I will ship this item myself” as the fulfillment method.
4. Plan your Sponsored Products & Sponsored Display budgetOptimization of Amazon PPC campaigns is probably the most important step you should take during your preparation for the upcoming Prime Day, or it might cost you a lot of money. And as you might know already, you are going to spend a lot during Prime Day if you don’t plan your budget in advance! As you can see in the stats below, during Prime Day and other big sales day, Amazon sales (and spend) increases dramatically. PPC could provide great amount of sales but as well great amount of wasted budget if not optimized correctly. Go ahead and check the relevance on your targetings both on manual and automatic campaigns. If you weren’t aware of that, Amazon just recently added the much awaited feature to set negative product targetings on your Auto Campaigns. It is also very important download your reports frequently in order to better understand how Amazon distributes your impressions / clicks, associates your products to different search terms and what keywords / product targeting bring you the most value in terms of sales and conversions. Make sure you avoid these mistakes that most Amazon sellers do while managing their PPC Sponsored Product Ads Campaigns.
5. Optimize Your Amazon Product Images for CTR and CVRYou would expect your Amazon PPC budget and sales to see a big spike up during Prime Day. What you want to do is optimize your campaigns and to make sure you have the best CTR (click through rate) on your ads. Your main image (and first characters of your product title) will mainly be responsible for that. Learn how to make the most impacting Amazon Product Images on this guide for FBA Sellers As importantly as your CTR, you also want to optimize your CVR (conversion rate): having a lot of clicks to your listing would be dangerous if none of them would convert into sales. Your EBC content and secondary images would help you a lot to increase your Conversion Rate. Read here the full FREE guide to how to optimize your Amazon Product Listing Images.
6. Use Product BundlesAs you already know, selling a lot of items is your main goal on Prime Day. In order to make this happen, you should also consider creating bundles that complement each other. That way, you’ll move a lot of products for less time. Try to combine products that are often purchased together, or that are complimentary one to the other. Offering bundles is a great way to drive awareness and extra clicks to your listings that are not getting enough. Making the right use of product bundles will also help you get higher margins on your product sales.
7. Strengthen your Brand PresenceThere are no sales if there’s no or poor brand awareness. In case you’re a new Amazon Seller, you should do your best to generate new leads that will convert into paying customers. The best way to let people know about your store is to leverage Social Media. This funnel will attract new people to your store and subsequently increase sales. Consider running a few ads or contacting influencers in your niche. Blogs, YouTube reviews, and even micro-blogging channels such as Instagram and Tik Tok or Twitter are today more important than ever. READ MORE: The Complete Guide to Influencer & KOL Marketing for Amazon Sellers
8. Groom Your ListingsA well written and well presented listing is a lot more likely to convert your visits into sales. Also, getting a lot of visits that eventually do not convert into sales, is definitely a NO-GO for any Amazon seller, as this would affect very negatively your conversion rate, relevancy score and product rank. Take full advantage of your listing page real estate and features by understanding Amazon A+ / EBC Listing Content: here we have compiled another quick guide for sellers.
9. Run Your Competitor AnalysisKnowing your rivals is a good start if you want to bring some new customers to your shop. First of all, you should see the difference between yours and your competition’s product listings. Once you’ve analyzed that, give your best to find the gap and fill it with your offer. Read reviews (on and off Amazon), Q&A section and other useful information that you might find hidden in the listing. Another thing you should do is to track the high volume keywords of products similar to yours, and then target their ASINs by utilizing Amazon Sponsored Ads. When it comes to the best tool for analyzing your competitors rank, top keywords and listing quality, we are all in with Data Dive Tool for Amazon Sellers. This software is just amazing for literally diving into your niche ocean of keywords and data, understanding your competitors and even to build your own listing, making sure you get on top of each other – in every Amazon marketplace. We have written a step by step guide on this blog post, to understand better how to fully use Data Dive in order to create the perfect listing.
10. Get Creative with A/B TestingAmazon has recently introduced the possibility to run A/B Testing to your listing title, and we are sure that in the future they will introduce similar features to other elements of your listings. If you have the option “experiments” enabled on your account, we encourage you to use it. Get creative not only with title’s keywords but also with other elements in your listings. Try to find out what are your potential customers interested in. You can do this by experimenting with Amazon A+ content and description. Try out higher and lower prices and see where you are. If instead you’re looking for a tool that provides full control on A/B Testing, you should definitely check Pickfu and their guide.
11. Use External Paid TrafficWe explained above how important it is to make good use of Social Media, Influencers and micro blogging sites. Do not dismiss paid traffic in other platforms such as Google and Facebook / Instagram or other deal sites such as Dealnews.com, Slickdeals, Fatwallet. Remember: Amazon loves external traffic. Driving high number of clicks to your listings with good conversion rate will help you a lot to increase your product rank and relevancy score. See more in the video below:
12. Make Sure Your Account is Safe from Attacks and Illicit Competitors ActionsLast but not least: you want to make sure that all your efforts don’t go wasted right before Prime Day. The past few years have been incredibly busy for Amazon’s profile hackers and black hat players. We have created a guide to keep you posted on the major treats and how to avoid them here: War is On: How to Fight Unfair Competition on Amazon – Updated
Before and After Prime Day, What to do? Roadmap for FBA SellersAs you can see, there is a lot to think about during Prime Day preparations, and many tactics you should consider and use. We will share with you also a 3-phased Prime Day strategy that can complement the previous steps and provide you with better selling possibilities: A. Awareness: Promote your Brand – 2-3 weeks before Prime Day
- As mentioned above, in order to sell products, your brand has to be present and people need to be aware of it. This doesn’t happen overnight so you’ll need to start attracting potential customers a few weeks before Prime Day.
- The best way of doing this is to utilize social media marketing campaigns and start promoting your brand to a customized audience.
- Advertisement is selling your products. Once you’ve attracted enough traffic to your store, it is time for conversion. Leads can become customers if they’re presented with the right ad content at the right time. If done right, this action will engage them and they’ll start filling their shopping carts.
- Prepare for an aggressive ad campaign during Prime Day and don’t forget to utilize every step from a previous strategy
- A great thing about Prime Day is the possibility to reach a lot of people and use that information for remarketing them a few weeks after. A lot of people will browse through your store but won’t buy anything.
- Most of that traffic are potential customers, so don’t miss the opportunity to reengage and convert them. Target them later and try to sell again.