Media Insights
Five Tips To Win Prime Day 2021
30% of US adults plan to purchase during the Amazon Prime Day event this year, and 27% plan to spend more this year than last.1 With over 70 million people in the U.S. shopping during the event, marketers should use the following five tips to be best prepared and get the most out of the event.
Tip #1: Look at Prime Day performance in 2019 (July 15 – 16) and 2020 (October 13 – 14) to develop an estimate of the impact on traffic and conversion rates you’ll experience this year.
- Compare Prime Day event performance to the prior week each year (July 8-9 for July 15-16) and (October 6-7 for October 13-14) to get an estimate of traffic and conversion rate increases your brand should expect.
- Expect the impact of Prime Day will vary this year due to Covid consumer shopping behavior changes, Summer launch, and other social factors.
Tip #2: Align your promotional calendar and messages to be competitive that week.
- Common promotions we have seen across Ovative clients and in the market include site-wide discounts, free shipping, doorbuster deals, and sales on clearance items.
- Be aware of Amazon’s competitor’s deal days2 including:
- Walmart: June 20-23
- Target: June 20-22
- Kohls: June 21-22
- Best Buy: June 15-22
- See this sale opportunity as a moment to capture buyers who have openness to new brands and desire to spend post-Pandemic
Tip #3: Be intentional about messaging across all channels to engage your audience.
- Add value by customizing creative and messaging across ads, emails, and your website for your target audiences and utilize AB testing to quickly understand what is resonating best.
- Anticipate key messaging themes will win this year: self-gifting, financing options, and last chance messaging on low-inventory to create urgency and ensure all creative including Paid Search ad copy reflects.
- Ensure creative focuses explicitly on the deal, promotion, or features cornerstone products.
Tip #4: Schedule intra-day performance check-ins and have a plan to react quickly.
- Monitor spend and performance closely and be prepared to make shifts accordingly as the combination of Prime Day and increased media competition will likely drive up costs.
- Align before the event on CPA or EMR thresholds for the event, considering promotions in place, so you can act quickly on spend opportunities.
- Check your budget caps before the event and ensure you have enough room to spend on your strongest revenue-driving products and categories.
Tip #5: Ensure your Paid Media channel strategies are prepared to ramp up to capture the in-market shoppers:
- Facebook: use video ads, carousel ads, collection ads, and dynamic ads with traffic objectives to maximize the amount of consumers visiting your site.
- Paid Search: ramp up top-performing Product List Ads (PLA), non-brand, and local campaigns proactively, and activate SmartShopping, Discovery, and SmartDisplay to unlock inventory sources that drive consideration earlier in the customer journey.
- Affiliate: Share your promotional schedule, key product deals, and goals with Affiliate partners in advance of the Prime Day event to be included in cash back and loyalty deals.
- Want more actionable tips? Read more from Ovative at “How To Prepare For Prime Day 2021”.3
Using these five tips to prepare for and operate during this year’s Amazon Prime Day event will help you to ramp up your Paid Media channel strategies, be intentional about creative, and align your promotional calendar to be as competitive as possible. Though Prime Day may look differently this year than year’s past, you still have the opportunity to exceed performance goals if you prepare effectively.
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SOURCES
[1] Amazon Press Release, 2021
