- by eSellerHub
Although Amazon Prime Day 2018 is still more than a month away, sellers must gear up themselves to apply for the featured promotions and deals. The Prime day is one of the biggest online shopping event of the year; similar to Black Friday and Cyber Monday. Amazon Prime day shopping event started from the year 2015 and every year it gets bigger and better. Last year, it Amazon Prime Day is one-day shopping event exclusively for the Amazon’s prime members to save big on a wide range of products. Now in the 4th year, Prime day seems like Christmas in July because there are millions of shoppers on the platform which can boost sales for everyone. According to Amazon, tens of millions of prime members made purchases on Prime day 2017 – 60% more than 2016.
With these stats in front of us, sellers need to charge up themselves with the best of strategies to stand tall amongst competitors and boost their sales on Amazon Prime Day 2018.
We have highlighted some of the tactics that sellers can use to give an edge to their business. Have a closer look:-
Offer Lightning Deals
Lightning deal is a promotion in which a limited number of discounts are offered on an item for a shorter period of time. Providing customers a lightning deal on a prime day helps to get more market exposure, customer engagement and conversions. Lightning Deals are featured on the prime day page of deals i.e. sellers can get an opportunity to showcase their product on the page that gets more traffic. Some important things sellers must keep in mind is that:-
- Only prime sellers are eligible
- Stocks must exceed more than 20 units
- Ratings of products must be more than 3.5
- Price of your item must be more than $5
- Condition of the item must be new
- Images must be of high quality
Discount offered must be more than 20% from the average price over last 90 days.
Moreover, cost of running a lightning deal may exceed on prime day. If these conditions don’t hinder you in increasing your ROI, it is a great way to earn more exposure. These premium deals are available one per customer and sellers can enjoy a hike in sales throughout the duration of the deal.
Bundling the products
Sales can definitely soar, when sellers bundle products together into one cheaper package. The main motive of the seller on prime day is to sell a maximum number of products and one of the best possible ways is to provide combo discounts.
If a seller bundles up two pairs of shoes and offer x% discount on that, it is likely to grab the attention of the buyers. Although you offer a less discount, it is nice perk for those who are not able to decide between two products. Product bundling encourages them to purchase more and help the seller to earn more profit. Sellers can find the old and slow-moving products and discount it to make even more attractive and sell it on prime day.
Use Amazon Sponsored Products
Due to tough competition on a prime day, sellers need to increase their visibility and Amazon Sponsored Products is one the best way to do so. Amazon Sponsored products are a pay-per-click advertising solution that helps to promote products with keyword-targeted ads and are displayed at the top of or within the search results and on product detail pages. Any seller can participate in this program but need to meet some specific requirements (Product must be new and sellers must have an active Amazon professional seller account and must be able to ship to all USA address). If sellers are already running Amazon Sponsored ads, Amazon advices to increase the budget on prime day to ultimately increase the traffic. If keyword budget is not increased, sellers may drain out their budget before the end of prime day and they may lose their potential sales.
Differentiate your listings
One way to differentiate your listing from other sellers is through attractive product photography. Sellers must use seven image blocks and show the product from the alternative angles and the primary image must be the best of all. Effective images can increase your click through rate and thus increase conversion rates. Also, using keywords in the product titles, features and description can make your listings standout on the prime day.
Invest in the customized inventory management system
After following the right strategies, retailers are bound to receive a good number of orders on prime day. But what if they are unable to manage them well? It all results in negative feedback. Hence to avoid that, it is necessary to have personalized and robust software that is tailor-made as per your requirements. It is important that sellers don’t miss out any sales opportunity and ensure that stock is enough to last long. Hence, it is recommended to use bespoke inventory management and repricing software in order to remain competitive for “Amazon Prime Day”.
The key to a successful prime day sale is preparation. Retailers still have enough time to create ad campaigns, market their deals, stock up with the inventory and much more. Prime day is once-a year opportunity to attract your loyal customers and gain new customers.
Wishing you the successful Prime day!! Happy Selling…