Amazon Prime Day is coming! It's not just another day on the calendarâit's a gold rush for sellers! Last year's event was a record-breaking success, with 375 million items sold in just two days, offering enormous potential for sellers like you. With Prime Day 2024 fast approaching, now is the time to gear up and get your strategy in place to ensure youâre fully equipped to take advantage of this massive opportunity.
Contents at a Glance
What is Amazon Prime Day?
Prime Day is Amazon's biggest deal event of the year. Exclusive to Amazon Prime members, It's quickly grown to rival traditional shopping holidays like Black Friday and Cyber Monday, not just in excitement but also in the quality and quantity of the deals offered.
What sets it apart? Unlike the all-access Black Friday and Cyber Monday sales events, Amazon Prime Day is like an exclusive club for Prime members who get first dibs on some of the best discounts of the year. Prime Day gets even bigger each year, making it a key date for shoppers looking for great deals on everything from the latest tech gadgets to everyday essentials.
When is the Next Amazon Prime Day?
The countdown to Amazon Prime Day 2024 is on, although the official dates are still under wraps. Traditionally, it happens sometime in July. Last year, all the action happened on July 11th and 12th. This mid-summer timing isnât just random; itâs when shoppers are ready to jump on some seasonally slow but hot deals.
Amazon usually reveals the official Prime Day dates just a few weeks before the event kicks off. Last year, they announced it on June 21, so keep an eye out around that time!
Why is Amazon Prime Day a Big Deal for Sellers?
Whether you're a seasoned seller or relatively new to the Amazon game, Prime Day opens up a world of possibilities to expand your market reach, launch new products, and stand out in Amazonâs competitive marketplace.
Here are a few compelling reasons why Prime Day is an opportunity you don't want to miss as a seller.
Boost Your Sales: Sure, itâs obvious, but the spike in traffic during Prime Day is too good to pass up. It's not just about selling more; it's about maximizing exposure when shoppers are in a buying frenzy.
Expand Your Market Reach: Prime Day lets you throw your net wider, reaching new customers who might not have discovered your products otherwise. Itâs the perfect time to attract new eyes and grow your customer base.
Test New Products: Got a new product youâre not quite sure about? Prime Day is your testing ground. Itâs a low-risk environment to gauge customer interest and gather valuable feedback on new items.
Increase Brand Visibility: With so many shoppers browsing Amazon, your brand and products get more visibility. This can lead to increased sales not just on Prime Day, but in the long run as well.
Navigate Competitive Waters: Yes, the competition is fierce, but thatâs also what makes Prime Day thrilling! It pushes you to sharpen your deals, optimize your listings, and stand out in the crowd, which can only make your business stronger.
Strategic Learning Opportunity: Every Prime Day is a lesson in retail dynamics. Youâll learn about pricing strategies, promotional tactics, and customer preferences. This insight is invaluable for any future sales events.
Qualifying for Amazon Prime Day: Who Can Participate?
To maintain the high standards that shoppers have come to expect from the Prime Day Sale, Amazon sets specific eligibility criteria for both the sellers who participate and products featured for Prime Day promotions.
Seller Eligibility Criteria
- Seller Feedback Rating: Sellers must maintain a minimum of 4-star seller feedback.
- Prime Shipping Eligibility:Â Products offered must be eligible for Prime shipping across all regions within the country.
- For Seller-Fulfilled Prime (SFP)Â sellers, additional criteria include:
- Late Shipment Rate: Must be under 4%.
- Order Defect Rate: Should be less than 1%.
- Pre-Fulfillment Cancellation Rate: Should not exceed 0.5% for the month leading up to Prime Day.
- Disbursement Reserve Policy: Must be set to hold funds for at least 7 days after delivery.
- Free Shipping Requirement: All SFP items must be offered with free shipping.
Product Eligibility Criteria
- Condition: Must be new. Used or refurbished products are not eligible for Prime Day promotions.
- Ratings and Reviews: Must have at least 1 review with at least 4-star rating.
- Compliance: Must adhere to Amazonâs selling policies and guidelines.
- Restrictions Check: Must not be restricted.Â
Get Ahead: Why You Should Start Preparing for Amazon Prime Day Now
Thinking about starting your Prime Day preparations early? Itâs a smart move! Starting early gives you plenty of time to review your inventory, enhance your listings, and strengthen your marketing strategies. By tackling these tasks now, youâll be free to focus on maximizing sales when Prime Day arrives, instead of resolving logistical issues or last-minute hitches.
Here's our month-by-month roadmap to ensure you're thoroughly prepared for Prime Day.
May: Kickstart Your Prime Day Preparation
Forecast and Adjust Your Inventory
Look back at your sales from previous Prime Days to anticipate this year's demand. Make sure your inventory is up to the task to meet the expected surge in sales. By preparing in advance, you can prevent stock shortages and ensure you maximize your sales during this key shopping event.
Ship Early to Fulfillment Centers
Make sure your products are available for Prime Day shoppers by shipping your inventory to Amazonâs fulfillment centers ahead of the June 20, 2024 deadline. As Prime Day draws near, fulfillment centers typically see a large influx of shipments, which can cause delays in processing. Shipping early helps avoid these backups and ensures your products are ready and in stock for the big event.
Prepare & Submit Your Deals
If you're planning to run Lightning Deals or Prime Exclusive Best Deals this Prime Day, be sure to submit them by the May 3, 2024 deadline. Keep watch for different submission deadlines for other types of Prime Day offers. Early submission avoids the last-minute rush and ensures your offers are processed and approved in time for Prime Day.
Prime Day Deals You Can Offer
1. Lightning Deals
These are quick, limited-time offers that last for a few hours or until the product runs out. Theyâre a hit because they create a buzz and push customers to act fast due to the limited time frame. Make sure your product has good ratings and enough stock to handle the rush!
To create Lightning Deals, hover over Advertising in the Seller Central main menu, then click Deals and Create a new deal. Select Lightning Deals under deal type.
2. Prime Exclusive Best Deals
Lasting up to two days, these deals are for products that can handle a lot of attention, meaning you need high ratings and plenty of stock. Theyâre designed to pull in loads of traffic over a longer period than Lightning Deals.
To create Prime Best Deals, hover over Advertising in the Seller Central main menu, then click Deals and Create a new deal. Select Best Deals under deal type.
3. Prime Member Coupons
These are special discounts just for Prime members that they can clip from the product page. Itâs an easy way to give exclusive savings to Amazonâs most loyal shoppers. You pick the discount and how long it runs, giving you lots of control.
To create coupons, hover over Advertising in the Seller Central main menu, then click Coupons and Create a new coupon. Read our step-by-step guide here: How to Create Amazon Coupons on Seller Central
4. Prime Exclusive Discounts
These discounts are reserved just for Prime members and last all through Prime Day sale on products qualify for Prime Shipping. Itâs a great way to draw in shoppers looking for deals they can get shipped quickly.
To create Prime Exclusive Discounts, hover over Advertising in the Seller Central main menu, then click Prime Exclusive Discounts and Create a new deal.
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Prime Exclusive Discount Eligibility
Products that feature Prime Exclusive discounts are highlighted with a distinctive Prime badge. To qualify for this badge, your discounts must meet the following specific criteria:
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Optimize Product Listings
Get your listings ready for Prime Day by ensuring theyâre polished and shopper-friendly. Update your photos with high-quality images, and refine your titles and descriptions with targeted keywords to boost your visibility. Enhance your EBC and A+ content to improve engagement and provide customers with all the information they need to make a purchase decision.
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Pro Tip: Give Your Storefront a Prime Day Makeover
Use the scheduling feature in the Amazon Stores Builder to set up a special Prime Day version of your storefront. Just make sure to get it submitted for approval at least a week before the big day. You can even specify when to switch to this version and when to switch back. Â Â You can also add a Featured Deals widgetâitâs a fantastic way to showcase your promotions and deals. The best part? It updates automatically, so your products only show up while the promo lasts, keeping everything neat and timely! Â Â If you're not sure how to start creating your own Amazon Storefront, check out our step-by-step guide here:Â How to Create Your Own Amazon Storefront. Â Â |
Boost Your Ad Budget for Increased Traffic
Expect more clicks on Prime Day, which can quickly exhaust your ad budget. To keep your campaigns running smoothly, increase your PPC budgets in advance with schedule-based rules. You can set these to automatically adjust your spending before and during the event, ensuring continuous ad presence and maximizing sales opportunities.
June: Fine-Tune Your Strategy
Adjust Your Bids to Stay Competitive
As Prime Day gets closer, itâs key to tweak your PPC strategy. Focus on keywords specific to Prime Day and set your bids high to stay in the gameâyou can always lower them later if needed. Use Amazonâs dynamic bidding for your Sponsored Products, which automatically adjusts your bids in real-time, ramping them up for likely sales and dialing them down when a click seems less promising. This way, youâre putting your budget where it counts, maximizing your ad spend on clicks that convert.
Advertise Beyond Amazon
Start amplifying your external marketing activities now to maximize your reach before and during Prime Day. Utilize platforms outside Amazon to engage existing customers and attract new ones, which can significantly improve your overall sales performance. This can be achieved through targeted campaigns on social media, strategic email marketing, and engaging content marketing on blogs and third-party sites.
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Pro Tip: Earn Credits with Amazon's Brand Referral Bonus
Leverage Amazonâs Brand Referral Bonus to make the most of your marketing budget. When you promote your Amazon listings on external channels like social media, search engines, display ads, or through email campaigns using Amazon Attribution tags, you can earn back credits. This bonus, which can average 10% of qualifying sales, doesn't apply to Amazonâs own ads but is perfect for boosting your returns on external advertising. Enroll in the program and start earning credits to help cover your referral fees, extending your reach beyond Amazon and potentially increasing your sales during Prime Day and beyond. |
Plan Ahead for Content Approval
Get your product page enhancements, including Amazon Storefront and A+ Content, submitted well before Prime Dayâaim for at least a few weeks before you need them live. This gives you a buffer to handle any revisions if your content doesnât get approved on the first go. Remember, sprucing up your product pages with A+ Content can boost your sales by up to 20%, so itâs worth getting it right and ready before the big rush!
July: Execute and Evaluate
Pre-Prime Day
Brief Your Team
Make sure everyoneâs on the same pageâespecially your customer service crew. Review FAQs together to make sure they can handle common queries confidently. Discuss quick response strategies to ensure that customer concerns are addressed promptly during the busy period. Also, talk about post-event communicationâhow you'll follow up with customers and manage feedback once Prime Day is over.
Create Buzz
Start the hype train with some smart marketing moves. Team up with influencers, hit social media hard, and let the world know whatâs coming. The goal is to get people excited about your deals. The more you can engage your audience before the event, the more likely they are to shop eagerly on the day. Remember, the excitement you build now fuels the sales later!
Conduct Pre-Prime Day Checks
Before Prime Day kicks off, take a moment to double-check everything. Make sure your deals are all set up correctly and that youâve got enough inventory to keep up with what youâre hoping will be a big surge in orders. Itâs also a good idea to have a backup plan for quickly restocking items just in case they fly off the shelves faster than anticipated.
Prime Day
Keep an Eye on Inventory and Sales
Stay sharp on Prime Day by keeping a close watch on your inventory and how well your products are selling. Be ready to tweak prices or ramp up promotions on the fly, using the latest sales data and stock levels to guide your decisions. Itâs all about staying flexible and responsive to make the most out of the day
Keep Customer Service Sharp
Your customer service team needs to be at their best. Fast and efficient responses are crucial; they can turn potential issues into moments that positively impress your customers. Make sure your team is well-prepared to handle inquiries quickly and effectively, ensuring every customer feels valued and supported during the hectic pace of Prime Day.
Post-Prime Day
Assess the Day
Now that the dust has settled, take some time to analyze how things went down. Which of your products were in high demand, and which ones didnât move as fast as you hoped? Dive into the sales data to identify patterns and trends. This deep dive will help you understand what really resonated with your customers and what didnâtâinsight thatâs crucial for fine-tuning your approach for future sales events.
Listen to Your Customers
Gather all the customer feedback you've collected. Every comment and review is invaluable, offering you a clearer picture of what your customers truly appreciated and what areas might need a bit of work. This will help you better tailor your products and customer service to meet their needs.
Restock Smartly
With all the fresh insights from Prime Day, act swiftly to replenish your inventory. Focus on restocking the products that sold well to keep capitalizing on their popularity. This isnât just about keeping up with demand but also about leveraging the post-Prime Day momentum.
Final Thoughts
As we've outlined, preparing for Amazon Prime Day is not just about the immediate benefits of increased sales. It's an opportunity to expand your brand's reach, engage with new and existing customers, and set the stage for sustained growth. By starting early, staying organized, and being proactive in every phaseâfrom inventory management to post-event analysisâyou ensure that Prime Day is not just another day, but a pivotal event in your selling calendar.
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Remember, the key to Prime Day success is not just hard work but smart work. Leveraging the right strategies and tools can make all the difference, allowing you to not just participate in Prime Day, but truly capitalize on it.
Kick Off Your Prime Day Prep with Your eCom Team
Ready to take your Prime Day preparations to the next level? Your eCom Team is here to help! With our deep understanding of Amazon's marketplace and years of experience supporting sellers like you, weâre perfectly positioned to help you maximize your Prime Day potential. Hereâs what we offer:
- Strategic Planning : Weâll help you craft a comprehensive Prime Day strategy, from inventory management to pricing and promotions.
- Listing Optimization : Our experts will fine-tune your product listings to catch the eye of both Amazon's algorithms and shoppers.
- Advertising Support : Get the most out of your PPC and external marketing campaigns with our optimization strategies that promise higher visibility and better ROI.
- Full-Service Management : From setting up deals to handling customer inquiries, we take the load off your shoulders so you can focus on what you do bestâselling.
Get started today with a free brand review!
About the Author
Dan Serignese
Partner and Chief Brand Officer at Your eCom Team, Dan has over eight years of experience in Amazon advertising for thousands of sellers. He is dedicated to helping brand owners expand their businesses both on and off Amazon.
