It has already been announced with great fanfare that we have a new Prime Day in the month of October. It’s called Prime Big Deal Days, and although the exact dates of the event haven’t been confirmed yet (last year it was on October 11th and 12th), there will be exclusive discounts for Prime users. If you’re not a Prime member yet, there’s still time to sign up!
At Amazing, we understand that early preparation for these types of events is crucial to achieving success. Thanks to our expertise and Amazon-centric approach, we offer 7 Key Tips to start tackling the Prime Big Deal Days, even though there’s over 1 month left until it’s celebrated.
1.- Learn from Past Experiences: Reflect on the July Prime Day and evaluate both the positive aspects and the challenges you faced. Analyze strategies that worked well and those that didn’t achieve the desired impact. This analysis will provide valuable insights to fine-tune your approach for the upcoming event, as it repeats in terms of typology and development.
2.- Analyze Your Retail Actions and Advertising Campaigns in Detail: Thoroughly examine the actions you took and assess whether you truly achieved the objectives and, most importantly, reached the desired profitability:
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- In the case of retail, focus on analyzing the promotions you activated, whether they were with the right products, and the results for each product, both for items that were promoted and those that had no offers activated. Additionally, check if the changes you made to the product detail pages had a positive impact.
- For advertising, make sure to review what worked in order to capitalize on it and improve what didn’t perform as desired.
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3.- Goal Definition: Before the event, establish the objectives you aim to achieve. Keep in mind that after this event, you’re heading into November with Black Friday just around the corner and the holiday shopping season in full swing. Consider how the Prime Big Deal Days can contribute to your sales and visibility goals for the last months of the year.
4.- Promotion and Product Management: Plan ahead for the offers and promotions you want to implement during the Prime Big Deal Days. Identify the flagship products you want to highlight and ensure the offers are attractive to customers. Maintain a balance between discounts and profit margins to ensure profitability. A recommendation here is to include a top-selling product from your brand in the promotion planning, as it guarantees visibility and traffic to your product and allows you to leverage the halo effect for the rest of your catalog.
5.- Production and Demand Preparation: Make a realistic estimation of the demand you expect during the event. Ensure you have sufficient inventory available to meet customer needs. Plan production accordingly to maintain a steady flow of products. Also, remember that once the event ends, you’ll have to face the next one soon, so don’t fall short in stock planning!
6.- Shipping and Logistics: If you haven’t done so already, start sending inventory to Amazon’s warehouses. This ensures that products are available to customers on time and takes advantage of the weeks leading up to the event to build momentum.
7.- Launching New Products: Events of this kind are great for launching new products. However, they should be launched a few weeks in advance to have some traction. Therefore, you’re running out of time to list them and send them to Amazon (if you’re an FBA seller) or generate Born to Run (B2R) if you’re a vendor, so you don’t have to wait for Amazon to request them. Ensure that new products arrive in optimal condition and have complete product listings, with relevant keywords, appropriate images, and active A+ content.
In summary, success in the upcoming Prime Big Deal Days is based on meticulous preparation and adapting strategies learned from past events. Analyzing previous performance, setting clear goals, intelligently managing promotions and products, and maintaining efficient logistics are essential steps to ensure your participation in the event is highly successful. Additionally, having a strategic partner like Amazing who knows how to conduct analysis, which actions to take, and how to define both advertising and retail strategies and execute them is key to achieving success in the marketplace.
