When is Amazon Prime Day 2020? That’s been the million-dollar question. Billion dollars, actually. In 2019, Prime Day generated an estimated $7.16 billion in sales over the course of 48 hours. It’s no wonder this is the most anticipated annual event for Amazon sellers and vendors. Since its launch in 2015 to celebrate the 20th anniversary of Amazon, Prime Day has continued to set records. At the beginning of 2020, market analysts were forecasting an even greater turnout this summer.
Of course, nothing interrupts the economy quite like a global pandemic. With much of the U.S. still shut down, Amazon has remained virtually silent about this year’s Prime Day – until recently. According to a leaked email first reported by Business Insider, Amazon informed 3P sellers to use the week of October 5th as a placeholder for Prime Day 2020. The article quotes Amazon as stating, “A definitive date will be announced as we get closer to the event. We are looking forward to seeing submissions that offer the most delight to customers during one of the biggest shopping days of the year, Prime Day!”
While no official announcement has been made, the leaked email all but confirms an autumn time frame for Prime Day 2020. With the clock ticking, Channel Key is advising businesses to begin preparing. You don’t want to be scrambling at the last second when the stakes are this high. The following steps will help position your business for success during the biggest e-commerce shopping event of the year.
The First Step to a Successful Prime Day Promotion
Before launching a campaign, every business should first decide if a Prime Day promotion is right for them. Remember, this is the biggest shopping event on the largest e-commerce platform in the U.S. It takes time and resources to stand out from the competition. Even then, there is no guarantee you will hit a home run. It’s prudent to examine previous Prime Days to understand what items sold well and what items didn’t. The most sought-after products typically fall under three main categories: 1) high-search items like electronics and devices, 2) mass-volume products that consumers need regularly, and 3) hot-ticket items. Unfortunately, the latter is difficult to predict. In 2019, LifeStraw Personal Water Filters, Instant Pots, and 23andMe Health + Ancestry kits were top sellers. The point is: not all promotions on Prime Day are successful. If your product portfolio does not include items similar to those that have performed well in past Prime Day events, it might be wiser to save your resources for the holiday season.
Optimizing Your Amazon Visibility
Okay, you’ve studied past Prime Day results and know exactly which products you want to promote. Now it’s time to make sure these items are optimized properly. After all, Amazon is more than a store; it’s a giant search engine that utilizes complex SEO algorithms to control search results. These are based on numerous factors including product titles and information, attributes, keywords, images, and more. You’ll want to go over your listings carefully to make sure everything is up-to-date and fully optimized for the best visibility, click-through-rate, and most importantly, conversion rate.
Timing Your Prime Day Promotion
Just like all promotions, successful Prime Day campaigns begin before the actual event. With a tentative date of October 5th set for the mega shopping event, now is a good time to develop a digital marketing strategy specifically for your promotion. Even if the event is postponed again, you’ll be ready for when it does take place. Your plan should incorporate all digital marketing tactics at your disposal including (but not limited to) content marketing, social media, email marketing, paid advertising, and search marketing. Having a plan ready will give you more time to promote your Prime Day sale when the date is finally announced.
Analyzing Your Prime Day Results
It’s no secret that successful Prime Day promotions require a lot of work. When it’s over, you’ll likely be tempted to kick back and relax. And sure, you definitely earned some celebration. Just don’t forget to analyze your campaign’s performance; not only sales figures and marketing costs, but what worked and what didn’t. Did customers respond to your Deal of the Day better than your couponed items? Also, check your website analytics. Businesses often enjoy a halo effect after Prime Day is over. Your promotion may increase organic searches and sales for your non-promoted products. If so, which ones? Can they be better optimized for search engines? All of this important data will give you valuable insight so you can make necessary adjustments for Cyber Monday.
The ULTIMATE Secret to Selling on Prime Day
Whether it takes place in October or not, one thing is certain: there will be another Amazon Prime Day. These strategies will make it much easier for your business to harness the buying power of Amazon’s 150 million Prime members. Of course, successful digital marketing on Amazon requires a plan customized specifically for your business. With a combined 30+ years of experience selling on Amazon, the Channel Key team includes the pedigree of a Top 200 Amazon seller, former Amazon insiders, and marketing experts. Together we have developed a separate and specialized body of knowledge for promoting products in specific Amazon categories. To learn more about Channel Key’s proven strategies to increase sales in your market, contact us today for a free consultation.