Gearing Up for Prime Day
Prime Day, Amazon's annual shopping event, is an opportunity ripe for the picking. Here are some essential steps you need to take to get ready:
- Ensure Adequate Inventory: Stock up to meet the surge in demand. You wouldn't want to run out of stock when the sales are pouring in!
- Optimize Your Product Listings: High-quality images, detailed descriptions, and relevant keywords are essential to making your products stand out.
- Prime-Exclusive Discounts: Roll out the red carpet for Prime customers with exclusive discounts. It’s a surefire way to enhance your value proposition.
Turbocharge Sales with Lightning Deals
Lightning Deals are time-sensitive, limited-quantity deals that appear on Amazon's event page. These deals can stir up a frenzy among customers and significantly boost your sales velocity.
In fact, brands who promoted their ASINs with sponsored ads during Prime Day experienced a whopping 190% higher consideration and 140% higher sales. So don't miss out on this opportunity!
Budgeting and Ad Types for Prime Day
Prime Day will see a natural uptick in clicks and CPC due to increased traffic and competition. Therefore, it's crucial to increase your daily budget to maintain your ad visibility throughout the day.
Consider using Sponsored Display and Sponsored Brands, which help you reach relevant audiences, boost visibility, and enhance brand loyalty. Sponsored Brands even allow you to showcase your brand logo, custom headline, and up to three products.
Keywords and Bidding Strategies for Prime Day
Review your keywords and consider bidding more on high-performing ones. Include Prime Day-related keywords in your campaigns.
But here's a Pro Tip: Pause any keywords that cost you but haven't led to conversions in the past 60 days. Avoid broad terms like 'Deal' or 'Promotion' for a more precise and efficient campaign.
The DSP Advantage
A Demand Side Platform (DSP) can significantly expand your reach during Prime Day by accessing and bidding on a vast amount of inventory across various publishers and exchanges.
DSP's sophisticated targeting capabilities enable you to reach the right audience at the right time. It also allows for powerful remarketing strategies, turning window shoppers into buyers.
Consider CPM bidding during Prime Day. Unlike CPC, CPM lets you pay for every thousand ad impressions. This could lead to lower effective cost per click and more brand exposure during the high-traffic period.
Quartile's Cutting-edge AI System
Here's another Pro Tip: Use Quartile's AI system for optimal ad performance. We provide dynamic bidding, strategic placement bid increases, automatic campaign generation from profitable search terms, and intelligent budget allocation. This way, we ensure a maximized ACoS for your business.
Unifying Amazon PPC with DSP
A combined approach of Amazon PPC with DSP enables a holistic advertising strategy. It extends your reach to potential customers, both on and off Amazon.
Retarget with DSP to remind potential customers of your offerings, complementing your PPC efforts.
Remember to increase your ad budget for top-selling products and those promoted through DSP, enhancing visibility and sales performance.
Final Thoughts
Prime Day is a high-stakes event that could potentially elevate your business to new heights. With proper planning, precise targeting, and the right ad strategies, it can be a massive success.
One last Pro Tip: Use Amazon Marketing Cloud (AMC) to refine your audience targeting strategy. AMC provides rich, granular data, enabling you to create highly precise audience segments and ensuring your ads reach the most relevant audiences.
