Getting Ahead – Amazon Prime’s Big Deal Days
With Amazon’s second Prime Event approaching in just a few weeks (official dates announced as October 10th- 11th, 2023) it’s essential for brands to take all the proper steps to capitalize on the benefits of this tentpole event. After July’s Prime Day event became the largest in company history we took a moment to reflect on the valuable lessons learned.
So how can brands effectively strategize for October’s Prime Big Deal Days? We have compiled a checklist for sellers to be well-positioned before, during, and after October’s Prime Big Deal Days and future Prime events.
4 Weeks Before
- Review your storefront to determine any potential updates or additional needs for page creation.
- Review all PDPs, especially for ASINs running promotions or deals. A best practice would involve pulling a keyword report, and ensuring that those words are reflected in the PDP.
- Make sure to lock in prices for any ASINs running a deal. Any price changes past this point may jeopardize the deal’s eligibility during the event.
2 Weeks Before
- Monitor all inventory levels of ASINs that will be featured in deals – if the inventory is running low, a quantity adjustment may be needed.
- Finalize any last-minute changes to your brand’s storefront.
- If you are running any Amazon Sponsored Deals, continue to monitor the deals dashboard for potential errors.
1 Day Before
- Confirm all inventory levels reflect the desired quantity needed.
- Double (and triple!) check the deal details for the specific ASIN/ASINs.
- Confirm that all changes made to your brand’s PDP/ storefront are accurate.
- Take a final check over your account’s health.
During Prime Event
- Monitor budgets. (In general, we recommend increasing budgets by 2X if there are no constraints. If the budget is constrained, we recommend at least a 50% increase in budget for both days of the deal.)
- If your campaigns are performing as expected or better, ensure they stay live with the appropriate budget amount allocated.
- If your campaigns are underperforming expectations by more than 50%, don’t hesitate to reduce bids or allow a campaign cap out and pause operations.
- Monitor your storefront. ‘Walk the store,’ as if you are the customer, and continuously keep an eye on the page.
Post Prime Event
- Decrease your bids back to the normal allocation.
- Take inventory of stock levels – Did products sell better than expected? Or, will you have an overstock of products?
- Measure and report performance using our Amazon Brand Leaderboard. How did your brand perform? How did your competitors perform?
Do you have lingering questions about October’s Prime Big Deal Days, or Black Friday/ Cyber Monday? Email us at firstname.lastname@example.org. In the meantime, make sure to dive into our free Amazon Data Tools!