Welcome to part two 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.
Since our last blog, Amazon announced that Prime Day 2021 will kick off at midnight PDT (3 AM EDT) on June 21 and run through to the end of June 22.
There’s still some lead up time to the event, so in this blog we’ll expand upon the key levers and focus more on best practices and optimization techniques for promotional periods such as Prime Day:
Experiment with Sponsored Brands creatives
- Create ads that showcase your top products and also products featuring deals.
- Forgo generic ad copy and use custom headlines that relate to the products you are featuring and your audience strategy.
- Try out new headlines and different collections of products to see which outperform the others.
- Review new-to-brand metrics, which can help you to measure the number of first-time customers or total first-time sales your brand acquired.
Use Sponsored Display for the the lead up to Prime Day
- Product targeting and audiences for Sponsored Display can help you to reach more audiences before the Prime Day event, and it will also help with brand awareness during the lead-up too.
- Review new-to-brand metrics to help determine whether an ad-attributed purchase was made from an existing customer or one buying your brand’s product on Amazon for the first time.
- Adjust budgets, add more ASINs, and broaden your reach prior to the Prime Day week. These three steps, according to Amazon, drove an average 3x sales lift and +45% better ROAS during Prime Day 2020.
- Sponsored Display is a great way to reach shoppers at every stage of the shopping journey:
- Awareness - Utilize category targeting, Amazon Audiences, and Views remarketing to grow the total audience of Amazon shoppers who are aware of your products.
- Consideration - Utilize Views remarketing, Amazon Audiences, and product and category targeting to help maximize purchase intent by telling your brand's story.
- Purchase - Utilize Views remarketing and Product targeting to help stay visible when shoppers are ready to buy.
- Loyalty - Utilize Views remarketing and product targeting to drive repeat orders and engagement with your Amazon Stores.
Drive shoppers to your Amazon Store
- Engage shoppers with curated pages that showcase your deals and top products
- Use product detail page placements to showcase your brand to shoppers viewing related categories, and direct them to your store.
- Sponsored Brands Store Spotlights let you feature Store pages in your creative, along with a customizable headline, sub-page image, and label (US Only).
- If your SB campaign is targeting product keywords around products that are found in a specific page in your store, you should link directly to that specific page.
- Creating separate campaigns for each keyword strategy will give you visibility into how each strategy performs. For example, if you’re targeting keywords that contain a competitor’s brand name, separate them into their own campaign to see how well you’re able to drive a competitor-related search to your Store.
- According to Amazon, linking Sponsored Brand campaigns to a Store delivers +29% better return on ad spend when compared to linking to a product list page.
Schedule your Store updates
- Scheduling enables you to build out Prime Day updates for your Store to showcase your promotions and offers ahead of the Prime Day event. Aim to have a Prime Day version of your store created by June 14.
- Showcase deal ASINs in your Store, including on special deal pages. Leverage the Featured Deals Widget within Stores to showcase Prime Day-specific deals and discounted items or promotions - and choose between Lightning Deals (when available) and Deals by Category.
Drive discovery and engagement with Sponsored Brands video
- Use Sponsored Brands video to stand out in desktop and mobile shopping results and help shoppers discover your brand and products as they shop on Amazon during the leadup to Prime Day.
- Review our earlier blog post, Video Ads on Amazon, Do I Need to Get Involved?, for Marin’s top tips and insights on running Sponsored Brands Video ads.
- According to Amazon, Sponsored Brands video campaigns have, on average, shown 127-267% higher CTR compared to product collection campaigns.
Keep your ads discoverable to shoppers
- Boost your daily budget to help ensure that your ads serve throughout the Prime Day event. Amazon recommends a 200% increase on your average daily spend.
- For the budget-conscious retailers, consider using Marin’s Amazon dayparting / ad scheduling solution where you'll be able to increase or decrease your keyword bids not just on a certain day, but also by a specific hour – as precisely as 15-minute increments. For example, if you know historically you saw a 20% increase in revenue/clicks between 1PM and 3PM, you can set a 20% boost to increase your bids during those specific hours.
Improve campaign performance
- Pause low-performing campaigns, and consider moving the budget to high-performing campaigns
- Use negative targeting to restrict how your ads appear, which is especially important for broad match keywords.
- Consider using Marin’s machine learning bidding algorithm to help raise ACOS and improve ROAS Marin was able to increase exposure by 79% for Buyagift (a leading provider of gift experiences in the UK) by optimizing bids with our leading ad management platform. We were also able to increase click volume by 36%, with a 7.4% lower cost-per-click than before. The campaign grew awareness and engagement, and ultimately helped Buyagift boost revenue on Amazon by 17%. See the Amazon case study for more information.
- Use Amazon Budget rules to automatically adjust budgets based upon performance or seasonality.
Use Product Targeting to increase your market share, defend your brand and drive more sales
- Hijack the detail pages of competing high-performing products to increase your impression volume if you are trying to launch a product in a competitive space.
- When targeting competitor products, make sure the product is a similar product to the one you are selling to make sure you have the best chance of a conversion to take place.
- Consider targeting complementary products that go well with yours. For example, if you are selling a foundation makeup brush, place your product on the detail page of a liquid foundation for the face.
- Defend your branded space by targeting your own products to combat the risk of a consumer navigating to your detail page and then clicking on a competitor’s ad.
Get on board with Amazon Attribution
Amazon Attribution provides visibility and insights into how non-Amazon digital marketing (search, social, display, video and email) impact shopping activity and sales on Amazon. Without the Marin + Amazon Attribution integration, you will not be able to connect the cost from a paid search or paid social click to a resulting Amazon conversion metric (such as page views, add to carts, and purchases).
- Gain an accurate measure of your ROI by seeing cost and revenue data together.
- Utilize Marin’s automated bidding against total revenue, including Amazon Attribution revenue data and event metrics.
- According to a survey, 52% of shoppers are more likely to buy an unfamiliar brand on Amazon vs any other store.
- Create Google Sitelinks with the messaging “Buy Now on Amazon” that take visitors directly to your Amazon Store, or an Instagram ad that takes visitors directly to the Amazon product detail page with an “Add to Cart” button.
- AccuQuilt was able to increase revenue +213% while improving ad clicks by 154% and average order value by 17% using the Marin + Amazon Attribution Integration. See the case study for more information.
Bidding for success
Make sure that your bids are competitive, even after Prime Day has ended. Amazon’s research shows that it’s between 6 and 7 days from when a shopper browses to when they actually make a purchase, and an average shopper makes 14 detailed page views before making a purchase. With that in mind, there's ample opportunity to improve performance for the period after Prime Day has ended.
- Take the strain out of manual bidding by using Marin’s machine learning bidding algorithm to automatically calculate bids based upon your targets and goals.
- Use Marin’s automated bidding in conjunction with our Promotional Bid Modifier optimization. This automatically draws on your historic Prime Day performance data to optimize bids based on your promotional calendar. The algorithm uses your historic data to generate keyword-level boosts based on each keyword's performance during previous Prime Day promotions.
- Use Amazon Dynamic Bids “up and down” - If a click is likely to convert, Amazon will raise your bid up to 100% for placements at the top of the first page of search results and up to 50% for all other placements. This is fully compatible and works in conjunction with Marin’s bidding algorithms.
It may seem like that’s a lot to take in, but as with any digital marketing activity there are numerous optimization strategies to help improve performance. The ones mentioned above are some of the key levers available to get you the best out of Prime Day 2021.
Look out for part three in our series, which highlights some of the strategies to keep the momentum going during the period after Prime Day. In the meantime, 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.