BBE's Prime Day Review Insights

We don’t just say there are benefits to perfecting your Prime Day game plan and partnering ad strategies ahead of time; we have the data to prove it! We gathered collective sales, traffic, and conversion-rate data from our brand partners who participated in Prime Day, those who did not, and those who ran active DSP ads during the period.?

The lift data below shows the percentage increase brands achieved during the Prime Day event compared to the previous four weeks (same day-of-the-week average) of sales, traffic, and conversion rates.

PRIME DAY SALES LIFTS

In 2023, brands that participated in Prime Day experienced a 105% overall sales increase compared to the previous year. In contrast, our brand partners who did not participate in Prime Day only experienced a 34% overall increase.

WHAT WE LEARNED AND CONFIRMED?

Offer Competitive Discounts (20% or More): When participating in Prime Day, it’s crucial to offer competitive discounts on your products. We recommend discounts of at least 20% to attract shoppers and stand out from the competition.

Participate on Both Days, Emphasize Day 1: While we advise participating on both days, it’s essential to capitalize on the first day. Many shoppers choose to buy their desired items early to prevent them from going out of stock later.

Manage Inventory: To prevent running out of stock and disappointing potential customers. Make sure you have sufficient inventory to support a high sales volume throughout the event.

PRIME DAY TRAFFIC LIFTS

On Prime Day 1, BBE’s Prime Day participants and those who ran DSP ads saw a marked increase in overall traffic. Those who did not participate saw a smaller traffic increase.?

On Prime Day 2, Prime Day nonparticipants saw the most traffic lifts, while DSP active participants and participants saw a smaller increase.

WHAT WE LEARNED AND CONFIRMED

Monitor and Optimize Ads: Continually monitor the performance of your advertisements during Prime Day. Be prepared to make real-time adjustments to your ad campaigns to align with changing business needs and optimize their effectiveness.

Post–Prime Day Discounts: Avoid abruptly discontinuing all discounts after Prime Day concludes. The momentum of Prime Week still draws a lot of traffic, so maintaining some discounts can help you sustain your ranking and prevent a drop in both organic search results and ad placement.

WHAT WE LEARNED AND CONFIRMED?

Budget Considerations: While it’s important to allocate a budget for Prime Day promotions, it’s equally important not to exhaust your entire budget on Prime Day itself. Drastically cutting your budget immediately after Prime Day could negatively impact your ranking and visibility, especially in opportunities or Post–Prime Day customer conversions. Ensure you have enough budget remaining to maintain a strong presence for the rest of the month.

Utilize DSP (Demand-Side Platform): Incorporating a demand-side platform (DSP) into your advertising strategy can significantly enhance your overall performance and increase conversion rates for potential customers exposed to the product during Prime Day searches with correct targeting strategies.

PLANS MOVING INTO Q4

Our Amazon quarterly earnings have shown robust growth recently, and we aim to sustain this momentum into Q4. We'll achieve this by closely analyzing data and working more precisely with each of our brand partners. With major shopping events such as Black Friday, Cyber Monday, and the December holiday season approaching in Q4, we must immediately approach similar sales opportunities with a proactive mindset.

By offering competitive discounts, strategically participating across multiple shopping event days, managing inventory, monitoring and adjusting ads, maintaining post–sales event discounts, allocating budget effectively, and utilizing DSP technology, we can increase our brand partners’ chances of success during significant shopping events when we plan in advance.

AMAZON NEWS & NOTES?

• REFRESH CONTENT IN ADVANCE TO STAY AHEADTo achieve the most with your ad spend for significant shopping events (Prime Day, seasonal events, etc.), don’t forget the importance of refreshed content. Updating storefronts, optimizing listings, and finessing the creative content of star items gives you an extra power boost, helping your targeted campaigns drive conversion by addressing FAQs, using seasonal images, and pushing product lines. From custom DSP ads to targeted store updates, keeping your creative content relevant and fresh pays off. However, it’s essential to plan for event-based content in advance and not get caught in a last-minute rush. Getting content ready for October Prime Day, Black Friday, and the holiday sales by reaching out to the BBE creative team now will guarantee that your ad spend is being used to its fullest.?

• Amazon Will Begin Accepting Applications for the Seller-Fulfilled Prime Program in October 2023The program allows sellers to list products as Prime-eligible and handle the fulfillment themselves. You can display the Prime badge on the products you ship directly to buyers with two-day, one-day, and free standard shipping. Check with a Buy Box Experts contact if you have questions about what it takes to qualify and the benefits for your upcoming Prime Day strategies!