Welcome to part three of our Amazon Prime Day 2021 three-part series.
In part one, Are you ready for Prime Day 2021?, we took a look at last year's performance, noted key deadlines for retailers, and highlighted some top-level levers to get the most out of Prime Day, before, during and after the event.
In part two, Top tactics for a successful Prime Day 2021, we expanded upon the key levers and focused more on best practices and optimization techniques for promotional periods such as Prime Day
Prime Day starts today, so in part three we’ll talk through some of the strategies to keep the momentum going during the period after Prime Day (2+ weeks):
For at least 2 weeks after the 2 day Prime event, you should focus on reengaging with your Prime Day audiences that continue to visit Amazon to browse and shop products. During this time, consider promoting complementary products to your existing audiences and even reach new audiences who viewed your products but didn’t purchase them during Prime Day.
A lot of Brands decide to cut their spend significantly right after Prime Day has ended or even pause campaigns entirely, which is an oversight. Continuing to invest in a strategic approach is crucial. According to Amazon, it takes on average between 6 and 7 days before a shoppers initial browse on Amazon and making a purchase. In addition, a shopper makes 14 average detail page views before making a purchase. Because of this it's very likely that a shopper is still considering your brand/products, even after Prime Day, but has yet to convert - making the period after Prime Day the perfect time to re-engage with those audiences. Brands that continue to advertise after prime Day will remain at the forefront of shoppers’ minds, while those that don’t could lose the brand awareness that has been built during the lead up to Prime Day and the event itself.
Below we’ve put together some strategic opportunities to help Brand reap the rewards during the period after Prime Day;
Review Prime Day sales performance
- Some of your products may have sold better than others during Prime Day. The differences between them may be as transparent as budget issues but it could also be as small as targeting the wrong keyword. Use this data to refine your ASINs and hopefully improve impressions and conversion rate during the period after Prime Day.
- It is highly likely that shoppers saw your brand during Prime day via your Sponsored Ads campaigns and may be considering your products but have yet to convert. They need to be reengaged.
Focus on top selling products
- Focus on increasing visibility in all stages of the funnel, especially on branded terms to help upsell your products
- Increase budgets for your top-selling products to maintain higher spend levels and engage with shoppers looking for deals
- Keep increased top of page bids for ASINs that helped to drive Prime Day sales
Re engage with new-to-brand shoppers
- Review your new-to-brand performance. You might discover that a high number of new-to-brand shoppers ended up purchasing a particular product
- Boost bids on Sponsored Brands ASINs that have the highest new-to-brand sales to drive loyalty
- Create custom-built remarketing audiences in Sponsored Display based on new-to-brand engagement.
- Create new Amazon audience campaign with top selling new-to-brand products and assign higher bids to help increase scale
- Consider adding views remarketing segments to your ad groups in your new campaign(s) to manage efficiency in your NTB efforts. For example, you could create a custom-built category audience to remarket a top selling product to audiences who have previously viewed related detail pages of highly rated or Prime-eligible detail pages
Continue to offer deals
- Following Prime Day, shoppers are still budget-conscious and want to find the best deals. Because of this, consider continuing to run deals, coupons, and promotions during the Prime Day lead out.
- Products don’t have to be discounted as steeply as they were during Prime Day. But even smaller discounts could make a product more tempting to a shopper and will help to combat the slower nature of the first few weeks after Prime Day has ended.
- Coupons are a great way to entice a shopper to purchase, as the coupons badge will appear on the ad in search results and product pages. These badges signal a good deal to shoppers and will help to improve your click-through-rate (CTR) and conversion rates.
- If using coupons you have the choice of selecting a percent or monetary value coupon. Our recommendation is to use a monetary value. There’s nothing wrong with percent coupons, but how much is the actual discount? People don’t want to do this kind of math when they’re trying to decide if they even like the product or not.
Remarket to existing audiences
- Re-engage customers who viewed your products but didn’t purchase your products during Prime Day
- By adding audiences to your Sponsored Display ads, you can prioritise customers more likely to add your product to their cart
- Use audience controls to customise campaigns based on key detail page attributes, such as product category and price range.
Co-sell and upsell with product targeting
- Use Sponsored Display Product targeting to reach new or existing customers on any product detail page or category on Amazon – even outside of your own category. Reaching new customers outside of your category allows you to help inspire shoppers to consider products that might be relevant to them
- Review Amazon’s Market Basket report, which shows the top 3 products most frequently purchased at the same time as the Brand Owner’s products - Use this data to create ads that show up in the “Sponsored Products Related to this Item” carousel on Amazon
- Target detail pages for top selling competitor products that relate to your products. Review the Item Comparison Report which shows all the different ASINs that were viewed and compared against your ASIN. These are your competitors and provides you with an indication of which products you should target.
- Play defensive and target closely related / complementary products in your own catalog to make sure shoppers who land on your product detail pages do not see competitor products
If you are interested in learning more, click here to connect with a sales representative or, if you’re an existing Marin customer, reach out to your Marin Customer Success Manager for more information.