Tips for Beating your Prime Day FOMO

The Prime Day excitement is brewing, and with the event being a matter of days away, for those not taking part this year, the feeling of FOMO may be lingering…

When Prime Day launched in 2015, as a celebration of Amazon’s 20th Birthday, even the businesses that weren’t taking part saw an uplift in their sales due to the increased traffic. However, as the event has grown, so have consumers’ desires to seek out the best possible prices. Leaving brands, with no big deals on offer, feeling invisible. 

However, this doesn’t mean you have to miss out. With a good strategy in place, you could see the impact of Prime Day on your sales.

Over the years, we’ve witnessed a lot of Prime Days and have gathered insights on what you can do to get the most out of it whether you’re taking part or not.

1.     Increasing your Ad Budget to ensure visibility

During Prime Day, Amazon will be prioritising products taking part in the event, which makes it harder than usual to maintain visibility.

To avoid this, we suggest that you increase your ad budget and CPCs so you can take advantage of the increased traffic. Make sure that your campaigns are running 24/7, so you can better build visibility on the day. You could even get your campaigns running a week before the event as a recent Kantar survey revealed that 82% of shoppers are likely to learn about new brands leading up to Prime Day.   

Discover our Beginner’s Guide to Amazon Advertising for more advice on this topic.

2.     Monitor your Ad Campaigns

Keep a close eye on how your campaigns are performing as you may be surprised by the results. Certain areas may be performing better than expected, and you can adjust accordingly based on your findings.

Remaining on the ball with your ad campaigns could give you an edge over the competition because if they’re not monitoring their bids/budgets as closely, there may be opportunities for you to capitalise on that.  However, if you see that your competitors are taking part in Prime Day deals, then reduce your bids in any product targeting campaigns.

3.     Running vouchers

You may not be interested in committing stock or reducing your prices by 15% to participate in official Prime Day deals, but a great way to stand out is by offering a 5-10% voucher.

The voucher helps to drive clicks by spotlighting your offer through a dedicated badge, increasing your click-through rates and chance of conversion. 

4.     Look for opportunities after the event has ended

As mentioned, monitoring your competitors’ listings during the event is important but continuing this practice afterward will ensure you won’t miss out on any opportunities that arise, such as competing products going out of stock. You can then take benefit from their lack of visibility.

5.     Treat it as any other day

If you are not taking part in the event, then ultimately, you can treat Prime Day like any other day. Try not to be too concerned with the noise and continue business as normal.

Prime Day used to offer platform-wide benefits, but now we see that it’s mostly driven by big deals and offers.

If you are worried about missing out, then don’t worry the next Amazon deal event is always just around the corner! But, while it’s important to have dates like Prime Day in your diary, you should remain determined with your efforts to monitor and adapt your Amazon channel all year round.

Do you want to find out what the opportunities are for your brand on Amazon? Book an introductory call with us here.