[Update, 6/22/18]: Though Amazon has yet to officially release the date, early reports indicate that Prime Day will take place on Tuesday, July 17, with deals starting midday on Monday, July 16.
Getting ready for Amazon Prime Day 2018? Here’s a quick tip: If you want to maximize your reach, be sure to think beyond Amazon.
Whether you’ve already secured Lightning Deals, locked down your Sponsored Products, or are still deciding on coupons, getting your Prime Day offers in front of as many Prime members as possible requires promoting them elsewhere — whether it’s through your own website, social media ads, paid search, email marketing or all of the above.
If you missed this year’s deadlines, or didn’t get approved for a deal, then you should think outside the box for ways to reach your buyers. And, the more creative you get, the better positioned you’ll be to drive awareness and boost sales during one of the world’s biggest e-commerce events of the year.
Want a hint on how to engage outside Amazon? Create a social media splash that engages and drives buyers to your products on Prime Day 2017. This simple tip was one of many suggestions outlined during our recent webinar: The Ultimate 2018 Amazon Prime Day Preparation Checklist.
During this one-hour workshop, our e-commerce experts detailed different strategies sellers can use to get Prime-Day ready. For example, retailers and brands were encouraged to:
- Forecast demand now to ensure you’ll have enough stock to cover potential Prime Day spikes. Why? Because it’s not at all uncommon for sellers to see sales increases of 350% or higher. If you stock out… your competitors win.
- Use last year’s performance to benchmark this year’s planning. In 2017, Amazon surprised analysts when the marketplace reported its biggest sales day ever. Planning ahead will help ensure you’re not taken off-guard.
- Prepare to promote your most profitable products so you won’t run out of opportunities to showcase your ads. Based on the pace at which purchases have historically completed throughout Prime Day you should also be prepared to spend more on your daily campaign. In fact, prior to last year’s Prime Day, Amazon suggested setting daily budgets a minimum of 200% higher than the daily campaign spend you typically see.
- Analyze your Buy Box wins against those of your competitors to identify potential opportunities for improvement. The more often your products hit the Buy Box, the more likely your listings will be to win sales.
Looking for specific steps you can take to capture more sales? Interested in additional tips? Wondering if you’re doing everything possible to maximize your Prime Day presence? Find out in the interactive on-demand webinar, where you can listen in as Rithum’s specialists answer Amazon Prime Day questions from other sellers like you.