To maximize Prime Day sales, ecommerce operators must implement a robust, multi-stage strategy that encompasses meticulous pre-event preparation, real-time adjustments, and strategic post-event follow-up. Success hinges on a deep understanding of customer behavior, proactive inventory and offer management, and leveraging post-Prime Day momentum for sustained growth.
What started as a way to boost sales during slow summer months has turned into two of the largest shopping days of the year: Prime Day. More accurately, the event is 48 hours of lightning deals, promos, coupons, and shopping frenzies. Prime Day is a great way to attract new customers and gain momentum that can impact your business. But, it’s not without risk or peril. It's not uncommon for things to break or go wrong in the lead-up to Prime Day or during the event itself. In this episode, two OMG experts are joining me to talk about maximizing Prime Day sales. If you sell on Amazon, this is a MUST-watch episode. The insights are not only applicable to this Prime Day 2023 but will boost your success for future Prime Days, as well as upcoming holidays.What we cover:Pricing Strategy - Raising your prices is a no-no in Amazon’s book. Lowering prices is almost always welcomed from Amazon’s perspective but could be detrimental to your business. Here’s how you should think about pricing strategy leading up to Prime Day. Listing Optimization - While you don’t want to make big changes leading up to the event, you do want to give your listings a boost. Here’s what you should consider changing and what you shouldn’t. Overall Ad Strategy - Your ad strategy could make or break your Prime Day performance. How should you approach bidding and budgeting, and what factors should shape your ad strategy? Post-Prime Day Ad Strategies - How can you get new customers who learned about your brand during Prime Day to… 1. Buy again, and 2. Buy other products you sell? By running great ads. How much caffeine should you consume while watching and managing Prime Day performance?Plus, extra tips and bonuses like Amazon Live, Amazon Influencers, Amazon Posts, and more that could give you an edge.