Prime Day is Amazon’s biggest annual sale, during which businesses experience a surge in sales of about 15 – 25%, making these days an excellent time for brands to scale up.
From enticing customers to visit the product page to making them buy the product – these days of high traffic can be leveraged accordingly. However, not everyone wins the game. Besides the few checks that everyone recommends ticking, what are the strategies that would give you an edge over your competitors and help you win?
At NuvoRetail, we love to make Data-Driven Decisions at every step. For this upcoming event as well we dived into the Search Trends’ Analysis of the Prime days last year.
In this article, we’ll take you through the significant impacts of Prime Day 2021 and discuss how can you use the same for a winning strategy this season!
First Things First: Does Prime Day Really affect Businesses?
Before we worry about being all set for the big day, let’s first set some expectations and goals.
As we can see from the graph below, the Volume of Searches is unusually high during the Prime Days. In addition to this, we also see that the volumes start increasing even before the actual days begin. Let’s discuss the time-line in the later part of the Blog.
We will notice a similar pattern if we look at the number of unique searches around this time. As shown in the graph below, the number of unique search terms has been significantly higher than the general average.
So, the answer is yes, it is crucial for business owners to take advantage of the Prime Day Sale to benefit their Amazon businesses. But how do you do it?
A basic checklist: What Everyone Tells You
Let’s start with a basic checklist of things, you must do and might already know. Getting these basics right is crucial because no matter how good your strategy is, if it ends with bringing the customer to the Product Display Page, it is all for nothing.
For maximum efficiency, especially in times like these when the CPC is usually spiked, here are a few checks, you must make before going ahead:
# Run an Audit of the Listings’ Quality: Make sure you have optimal written and visual content on the product page.
# Choose the Right Products to Advertise: Preferably your best sellers or the most famous ones.
# Check on the On-Shelf Availability of Promoted Products: Provide a buffer stock over your usual run rate. Be Prepared.
# Give out Deals and Discounts on Promoted Products: This improves the chances of being clicked by the viewer.
# Start your PPC Campaigns Early: Do not wait until the very last day to begin building relevancy on Prime Day Search Terms, do it now!
The Beginning & The End
Since Amazon heavily markets its Prime Day Season, people start looking for relevant search terms way before the actual event. If you refer to the trend below, you’ll infer two things:
#1 The Search Trends begin somewhere around the Second Week of July. This is 2 weeks prior to the actual event!
#2 We can see that the Search Volumes slowly dip towards the Mid of August, weeks after the event has ended.
Based on this, there are two important strategies to be kept in mind:
#1 Build the campaigns at least 15-20 days before the Search Volume Picks up. This helps to build relevancy on the keyword.
#2 Do not stop the campaigns or keywords right after the event is over. Let them run until the ACoS hits an unreasonable number for better utilization.
A Category Level Insight
Inching closer, the next thing you might want to know is – do all categories witness a jump?
The answer to this is well, it depends. As per last year, all categories did perform better than usual. However, they were not equally efficient.
Let’s study in Detail the Business impact of Prime Days across Different Categories:
With the highest jump in Computer & Accessories and Electronics Categories, we can infer that customers are on a look out for high prices products to be on discounts so that they can make a purchase. This also means that they have been eying them for a while.
Even the minimum jump in the Searches is of 10%.
With a higher search volume, there is the opportunity to showcase a lot of your products across multiple products. For this period of three weeks, your visibility is expected to be higher than usual – the percentage deviation depending on the category search trends.
What Happens After This?
If we compare the category-wise search trends of a few days after prime days against prime days, we notice that not all categories dip.
The Toys & Games, Grocery & Gourmet Foods, Sports, fitness and Outdoors, Beauty, Health & Personal Care, and Clothing & Accessories Categories actually perform better after the prime days!
For any seller in these categories, it is recommended to continue running ad campaigns on relevant keywords for as long as ACoS remains acceptable.
Bonus Content: Top Searched Keywords on Prime Days ‘21
Now that we have ascertained when to start and stop bidding on Seasonal Keywords, the question that arises is, what keywords should you bid on?
As can also be seen in the table above, the upcoming festivals, events, or special days of celebration have a significant impact on the searches. The Rakhi and relevant keywords have a steller SFR during the Prime Days.
This helps advertisers understand how crucial it is to plan according to customer expectations. Even this year, since the Prime Days are just a few days prior to the festival of Raksha Bandhan, we may possibly experience a similar trend.
Having considered the trends from last year’s Prime Day performance, we can say that there are a few things to keep in mind apart from the standard checks listed in the beginning of this article. These are:
- Start your Campaigns at least 15 days before the Prime Days,
- Continue running the Ad Campaigns for as long as the level of ACoS remains within acceptable ranges,
- Be prepared to pay a higher cost of Click (CPC) during the season,
- You may want to boost awareness for your Newly Launched Products during this time as the Audience is bigger, and,
- Do not hesitate to take help of Advertising Agencies like NuvoRetail to level up your e-commerce game during such crucial times! Remember, we master E-Commerce so that you don’t have to!
With Nuvoretail, get:
- Reliable and efficient E-commerce services across all e-commerce channels,
- Amazon Certified professionals working for the end-to-end management of your online retail business,
- Cutting-edge in-house Technology – MIS Dashboards that consolidate, analyze and visualize all the data for your brand, and,
- AI Powered Automated Bidding for Amazon PPC based on ground breaking strategies!