With just five days left until Amazon’s Prime Day 2019, here’s an outstanding article from bqool.com for third-party sellers (3Ps) on to take advantage of this highly unique mid-summer two-day sales event.
Amazon Prime Day 2019, one of the biggest ecommerce events of the year for both Amazon sellers and buyers, is making a return this summer 2019. The event creates plenty of opportunities for sellers to greatly boost sales and entice buyers to take advantage of many excellent deals on Amazon. Let’s see what we can do to get ready for Amazon Prime Day 2019.
What is Prime Day?
Amazon Prime Day is Amazon’s very own Black Friday, all the existing deals on Prime Day are available exclusively to Amazon Prime members, who can enjoy lightning deals, price cuts, and various types of promotions.
An official date for Prime Day has not been announced, but we can expect it to begin in mid-July this year based on the fact that it ran for 30 hours from July 16th through 17th in 2018.
Shoppers expect deeper-than-usual discounts and the best prices for products across nearly every category: electronics, home & outdoor, kitchen, TV and personal audio, smart home, and many Amazon’s house brands products such as Amazon Music, Amazon Fire TV Stick, Amazon Echo Spot, Amazon Echo. It’s never too early to start planning your shopping list by reviewing the best Amazon Prime Day deals of 2018.
How sellers can benefit from Amazon’s Prime Day?
According to a recent report, the amount of sales made on global Amazon Prime Day 2018 was nearly 4.19 billion U.S dollars, and more than 100 million products were sold during the event. Amazon Prime Day 2019 is no doubt a huge opportunity for all online retailers to maximize their sales.
So how can sellers best prepare to convert Prime Day enthusiasm into sales?
Make sure you are stocked up to meet massive demand on Amazon Prime Day 2019 to avoid going out of stock on popular items because this sales event will bring tons of traffic.
Pricing and discounts
Amazon Prime Day 2019 is all about deals, so if your pricing is not competitive enough, your Prime Day sales number may fall short of your expectations. Other than offering decent discounts or exclusive promotions, you can create a repricing strategy to adjust your prices based on your competitor’s prices with an automated repricer to protect your profit margins and beat the competition.
The ultimate goal for many sellers on Prime Day is to increase total revenue. What better way to get more revenue than selling product bundles? Amazon sellers can encourage shoppers who have a hard time deciding what to purchase by offering product bundles as they are a good value for money.
Sellers can clear out slow-moving inventory by bundling less popular items with more sought after products. Most importantly, a product bundle can win the Buy Box easily because it is identified as a unique listing with its own ASIN. Your competition will have a difficult time listing against your product bundle so you can avoid falling into a price war with potential competitors.
Promote your listing
You should also consider running your own promotion to make the most of Prime Day. Here are the three popular marketing strategies you should adapt to promote your listings to the top of the search results page.
- Amazon Sponsored Products
As Amazon’s Prime Day grows, so does the competition, and Amazon Sponsored Products is the best way to increase your product visibility and make your store rise above the crowd.
Amazon Sponsored Products is a cost-per-click advertising program in the Advertising tab. If you are already using this program, you can consider increasing your advertising budgets to capitalize on the higher traffic in Prime Day.
- Amazon SEO
You should review and improve your product page for optimal product searchability and conversion to ensure your listing will rank in the top position on the search result page. Make sure you are using the right keywords for the product title, high-quality images, and clear yet informative product description. Here are some helpful tips for optimizing Amazon listings.
- Off Amazon marketing measures
Besides Amazon listing optimizations, you may want to drive external traffic to your Amazon product pages. Whether it is paid or non-paid channels, this approach can boost traffic, drive sales, improve your search ranking, and build a brand.
There is a number of options on how to drive external traffic. Some popular sources outside of Amazon are social media, emails, blog posts, coupon/deal sites, affiliate/influencer marketing, and even paid ads like Google AdWords and Facebook Ads, etc. Each channel has its own ways to communicate with the audience so you can create different ad campaigns to promote your Prime Day deals.
Automate your review request emails
The best time to get more product reviews is sending out review request emails during the biggest shopping event. While you are busy handling a high volume of orders during the event, sending a large number of review request emails to your buyers will likely overwhelm you. With the help of automated email software, you can save plenty of time on a review request routine.
Offer Lightning Deals
Lightning Deal is a promotion that FBA sellers can participate to showcase their products with a limited quantity for a short time on Amazon. Since this is a limited-time offer that runs for up to six hours, it will urge shoppers to make an impulse purchase. Furthermore, Lightning Deals provide many benefits for sellers so that they can bring more exposure to their products or brands and clear out overstock and seasonal inventory. You will receive an email invitation if your products meet the criteria for a Lightning Deal.
Take advantage of Prime Day to drive sales and awareness
If you want to take advantage of Prime Day, the key to winning a Prime Day sale is preparation. We hope the above tips will work wonders on your preparation.