Amazon has officially announced that Prime Day 2020 will be on October 13-14th, 2020.
What Makes Prime Day 2020 The Biggest Yet?
Many shoppers look to Prime Day as a way to save money especially during this year. Because of the lockdown earlier this year, many U.S. shoppers experienced online shopping for the first time.
Here is some data to back that up:
1. All Amazon marketplaces are seeing an increase in online shopping:
In 2020, shoppers are limited to where they can source much of their household needs.
With Amazon’s customer-friendly reputation, many consumers look to Amazon as their reliable online retailer.
- 71% of consumers reported shopping on Amazon during the pandemic
- 48% of consumers say they are shopping more frequently on Amazon since COVID-19 pandemic than they did previously
- According to 20 accounts we manage at AMZ Pathfinder, ad spend and ad sales in the first half of 2019 compared to 2020 increased 17-19% in the U.S.
Increased online shopping + our PPC scaling efforts for client accounts contributed to a substantial increase in revenue.
2. With new shoppers engaging online since lockdown, assume that they will commit to shop on Prime Day 2020:
Not just new shoppers, but in a recent study, 63% of U.S. consumers have increased or maintained their online spending habits since the start of the pandemic.
With the announcement of Amazon Prime Day 2020 right before traditional holiday sales, budget-conscious shoppers are prepared to get their holiday shopping started early.
3. Prime Day 2020 is becoming the signifying start for the holiday shopping season
“Traditionally, Prime Day is better thought of as an ‘oasis’ in the desert for sellers during the ‘dry’ period in the middle of summer.”
Brent Zahradnik, CEO of AMZ Pathfinder
This year, it is a branded effort by Amazon to create early seasonal promotions and events that not only drives Q4 revenues for all Amazon sellers but builds on their continued reputation of consumer satisfaction and experience.
Prime Day 2020 is your best jumpstart for the holidays and we have 7 tips for you to maximize your efforts:
7 Tips and Strategies for Last Minute Prime Day Prep
Here are some last minute adjustments you can make for a successful event:
- Do a final audit of your listings: That means checking your titles, bullet points, images, and descriptions to make sure they are up to date.
- Consider using ‘Amazon Coupons’ to help push on-the-fence shoppers to make that purchase, especially during Prime Day.
In most cases, coupon/voucher approval is quick but to play it safe, if you have products you want to apply a coupon to, know it may sometimes take a few days to set up.
- Review your PPC (pay-per-click) campaigns for selected SKUs you’ve prepared for Prime Day:
- Update your negative keywords on the campaign level to eliminate low conversion clicks from your account. Dedicate your spend on keywords that convert.
- Bid high on core terms and keywords. These are terms and keywords that create the most conversions. To balance that, bid low on low conversion keywords.
If you normally do this, then you have your foundations down. If this is your first time, you want to make sure you optimize your campaigns during the massive surge of traffic during Prime Day 2020.
- Make sure you’re NOT budget limited. With 3x the traffic and double the clicks, make sure you increase your budget to maximize effectiveness.
“We boost campaigns and the bids for the selected products, increasing the bids by at least 25% and the budgets by at least 100% and monitoring the results through the day.
…We would increase the campaigns budgets again if the results are good. Also prior to Prime day do not be afraid to reduce the bids and budgets and with the aim of reducing wasted spend on window-shoppers.”
Martin Zdravkovski, Chief Advertising Strategist at AMZ Pathfinder
- Don’t be afraid to increase your ACoS. Amateurs chase low ACoS only without considering the limitations like limiting visibility, order volume and harming organic rank potential. Having a higher but overall more beneficial ACoS can keep your advertising efforts competitive and healthy
- BONUS: Make smart use of your store page by creating a subcategory page devoted to Prime Day. This is a great way to feature your deals, sales and discounts with a purpose-built Prime Day landing page. You can even use your subcategory page as a landing page for ads off Amazon, like Google or Facebook.
“If they [clients] have lightning deals and coupons planned, it would make sense to direct shoppers new to your brand/new prime subscribers to a dedicated landing page and guide their experience.
There is now the option to have multiple storefront layouts and to switch them at will, so it would make more sense to build an entire storefront dedicated to PD/BFCM/Xmas season”
Samy Ouedraogo, Senior Account Manager at AMZ Pathfinder
If prepared correctly and on-time, Prime Day 2020 can be a great way to jumpstart your holiday revenue as well as providing long lasting brand exposure to new shoppers on the platform.