#43: 2022 Amazon Prime Day Prep 2022

This is a recording I did for MerchantWords last year in preparation for Prime Days.

3 Growth Spurt Client Best Practices:

1. Snag Prime Day Deals - remember this is the perfect time to capture new customers

• July 8, 2022: Prime Exclusive Discounts must be submitted
• Prime Exclusive discounts - Do not cost but only reach Prime members unlike coupons who reach everyone. Will be displayed on a deals page within Amazon for shoppers on Prime days. See guidelines below in order to participate. These will be your best bet to capture new to brand prime shoppers.

Guidelines:

• Item needs to be nationally Prime shipping eligible product.
• The Prime Exclusive Discount must meet all regular eligibility criteria.
• Product must have at least 3-star rating or no rating.
• The discount must be at least 10% off the non-prime member non-promotional price.
• The discount must be at most 80% off the non-prime member non-promotional price.

2. Offer deep coupon discounts - remember this is the perfect time to capture new customers!

• June 10, 2022: Amazon Coupons must be submitted
• Coupons are highlighted and visible to shoppers inside of AMZ, even without clicking on your product page and also impact the buy box. These will be your best bet for Prime Day sales. Coupons work by clips and redemptions. You get charged .60 per clip whether the shopper uses the coupon or not. You can add up to 50 items and take a percent off or a dollar amount off (this amount can't be less than 5% or over 80% of your lowest price on the item). Then you set a budget for your coupons (Your budget will be shared among the following 2 costs: USD equivalent of the discount you are offering and your redemption fee of .60 cents). The coupon will automatically shut off once 80% of the budget is utilized.

3. Send a Prime Day email blast to your external email list, driving them back to Amazon.

We saw between a 2X - 12X increase in daily sales over each Prime Day for clients that used the above strategies.

Prime day is Amazon's Christmas and shoppers like big discounts. There are additional ways (other than above) you can play, listed below.

*PROMOs don't work unless you Market like crazy outside of Amazon. Not all promos impact your buy box. We had a client send out 10,000 emails and didn't receive one redemption on his promo that ran for 30 days.

*Bundling doesn't seem to be effective because the AMZ shopper buys 1 item at a time, so the value add of a % off for multiple items in one purchase doesn't seem to translate in this online space the same way it would in say a Bath & Body works.

*Lightning Deals - Amazon will offer these and showcase you on their deals page - You pay $150-$500 per deal and they last for a certain amount of time, normally an hour or so. We have never had a good return on these.

FBA inventory cut-off is June 20th, 2022 (Inventory should arrive at Amazon FBA centers by this date)