Amazon Prime Day 2023 is coming soon! Are you ready? Prime Day is one of the biggest shopping days of the year and it’s a great opportunity to reach new customers and increase sales if you’re prepared. In order to benefit from the influx of consumers and revenue opportunities that Prime Day provides, it’s important you have a plan and actionable checklist in place.
Prime Day 2023 will most likely happen in the first half of July, so now is the time to start preparing! Our Amazon Prime Day 2023 Checklist for Sellers will provide you with all the information needed—from merchandising strategies, advertising optimization tips, inventory management methods and more - so that your business can maximize sales during the upcoming consumer holiday period.
Here are the top 8 recommendations from ROI Swift for Amazon Prime Day 2023.
With Prime Day Fast approaching, now is the time to make sure your product detail pages are fully optimized to maximize traffic and conversion during the event. With properly optimized product pages, you’ll discover more efficient advertising and greater sales growth that is ultimately more profitable in the long term. Focus on keyword rich product copy to boost discoverability and killer images and video that help customers understand your product.
Prime Day 2023 may be 2 months out, but now is the time to make sure your inventory is sent in and stocked up. We have seen sellers perplexed as to why their pallets are taking so long to get picked up when normally they are there the next day. With millions of sellers stocking up for Prime Day, Amazon Fulfillment Centers are overwhelmed. It's like Black Friday and Christmas but in July. Expect longer receiving times and work to get at least 10-12 weeks of stock sent into Amazon so you have enough inventory for increased Prime Day demand and avoid stock outs right after Prime Day.
Before setting up blanket deals across all your products, consider these questions:
Maximize conversions and revenue during Prime Day by offering the right deals that will intrigue customers and are sustainable for you as a seller. Consider different types of deals, including coupons, Prime Exclusive Discounts, and Lightning Deals.
You don't want to get halfway through Prime Day and have your ads stop showing. Typically, we've seen Prime Day sales increase by 60% over the days leading up to Prime Day. If you have daily budgets and you increase your CPCs combined with more traffic, you could run out of budget. When you run out of budget, your ads stop showing on Amazon.com! Start increasing your budgets in the weeks leading up to Prime Day. While you may see lower conversion in the lead up, that’s when people start window shopping for Prime Day, and you’ll see that traffic come back during the event. You also want to be competitive on bids. Don't let low bids on Amazon Ads keep sales from your bottom line. Other sellers will be increasing their bids and you'll want to do the same.
The last few years, Amazon has run the 2-day Prime Day event. While these two days typically see the most traffic and sales, there are opportunities to pick up sales from the early birds and the latecomers. Extending your discounts a few days before Prime Day and a few days after Prime Day can help keep your sales from dipping severely right before Prime Day or right after. We have seen discounts that start early help maintain normal daily sales before the boost from Prime Day.
Social media sites are always full of Prime Day posts as the event gets closer and is officially announced. Take advantage of the hype with posts driving your audience to your deals on Amazon during the event. Creating a Prime Day specific Page on your Amazon storefront is a great way to feature all your deals to customers. Consider leveraging influencers to help drive additional traffic to Amazon during the Prime Day event.
Amazon Prime Day 2023 is NOT the day to book a vacation to a remote island with no internet access! Stay on top of Amazon Ads throughout the day and make sure you're getting the impressions and clicks you expect. Monitor ad campaign budgets closely to make sure your ads run through the whole event.
Be ready to restock, as you may see some products move very quickly, especially if you're a high velocity seller and are using Lightning Deals during Prime Day. You may be depleted Faster than you think after Prime Day. It’s always a good idea to prepare a shipment before Prime Day to send in to restock Post Prime Day.
Planning ahead is key to making the most of Amazon Prime Day 2023. The Prime Day checklist above will help you prepare. By committing to optimization, stocking up on inventory, careful selection of deals, creating a budget for ads and strategizing store promotions - your business will be in good shape. Make sure you have the support you need by partnering with an experienced team like ROI Swift.
Here at ROI Swift, we understand that maneuvering through the world of Amazon selling can lead to both excitement and challenges. That's why we're here! We're passionate about teaming up with brands who are eager to take their business to the next level with top-notch digital marketing strategies. Ready to partner with us? Schedule a call today and let's make your Amazon dreams a reality!