Are you prepared for Amazon Prime Day 2017? If you are an Amazon seller or vendor and you have not done your checks in preparation for this major sale event on the marketplace, you need to get started. Word is circulating that Amazon Prime Day 2017 will fall on July 11, the second Tuesday of the month, following last year’s schedule. That’s just three short weeks away.
Amazon Prime Day 2017 the Biggest Ever
Amazon Prime Day 2017 is expected to be an even bigger sale day than the previous two. This means that more brands can expect record-braking sales. Last year’s Prime Day was Amazon’s biggest yet, with more than double the sales made in 2015. In addition, Amazon Prime Day 2017 is going to start 6 hours early, from 6:00 PM PDT the previous day through Prime Day. Amazon has also made reference to a Prime Day Week for this year. This could mean an extension of Amazon Prime Day 2017 or several days spread out over time. Whichever it turns out to be, you should not wait for the official announcement but begin preparations as early as today.
Check Inventory, Personnel
As an Amazon seller or vendor, you can expect very heavy traffic on Amazon Prime Day 2017. The first thing to do to avoid huge losses is to check your inventory and make sure you have enough people to man your store.
- Do a little research on sales volumes from 2015 and 2016, and look at your store’s sales totals for the past two Black Friday and Cyber Monday events as well.
- Prepare sales estimates for your products and factor your research in so that you punch out more accurate numbers.
- Use these estimates to adjust your supply accordingly. Contact your suppliers and/or your warehouse as the case may be and make sure that they are prepared to handle the expected volume of orders. If you anticipate getting sold out, make sure that you are prepared to accept the losses.
- Get extra help to make sure that everything continues to run smoothly even as you experience peak season sales volumes. You can hire temporary workers to catch the overflow or grab a few friends who can spare some free time over a few days to a few weeks until you are all caught up. When hiring friends, however, consider their level of experience in the different areas such as order processing, tracking shipments, customer service, etc.
If you foresee a lack of supply, consider reaching out to additional suppliers. This could be a good chance to test out a new supplier. Just take note that you are not going to have a lot of time to check samples and get everything else in order before the big day. Make sure that you can keep track of things if you decide to go this route.
Tweak Your Pricing
Once you are prepared with all the inventory that you will need to face the challenge of a Q4-like Amazon Prime Day 2017, you will need be prepared to check your pricing and change it at a moment’s notice to make sure that it remains competitive. Are you ready to handle all of this? If you need help, now is the time to find someone who can do this at a high level to keep up with the competition. You can also look into repricer software to take care of making these changes. You will need some time to get it all set up, however.
On Prime Day, you may come to a point where you are selling too much and are unable to keep up. If this happens to you, you will not want to disappoint your customers and suffer the Amazon consequences of poor feedback. One way to reduce the volume of orders without causing offense is to raise your prices. A slight change in your pricing can effectively control sales volumes so that you are not drowning in orders. The opposite also works to increase sales.
Re-Optimize Your Listings
There is no better day other than Black Friday to make the most out of your Amazon store. Traffic will be comparable to this biggest US sale day of the year. Don’t wait for November rake in the sales.
- Review your analytics to see which listings are performing best and what areas you can improve on.
- Take a good look at your product images, bullet points and descriptions.
- Prepare and change out images and text as needed to make your listings stand out. Hire a professional Amazon product photographer and copywriter if needed to get high quality results.
You might not have gotten into Enhanced Brand Content or A+ Content yet because of the expense and complexity. For Prime Day, however, the extra investment will be well worth it. These options allow you to feature additional photos and text on your listings. The bonus space will make your listings more attractive and give your customers more information to encourage them to purchase your product. Effective use of Enhanced Brand Content and A+ Content can significantly increase conversions.
Boost Your Ad Budget
For this sale day, you should think about setting your daily campaign budgets higher than the usual daily spend. Increasing your bids as well can as much as double ad impressions for that day. This will bring more traffic to your store and further increase your chances of making a killing. You may also have to increase your daily budget and bids as needed during the day itself if it runs out. Otherwise, you will lose significant traffic to your products. You should adjust your bids especially on top performing keywords and across the board if you see low click-through rates. When you make changes, do it quickly – edits to your campaigns can take up to one hour to take effect.
Turning on the Bid+ feature for your Sponsored Products Ads will boost the visibility of your ads. This will increase your chances of gaining top placement by increasing your keyword bid by up to 50% on eligible ads.
Whether you are excited about Amazon Prime Day 2017 lightning deals or are just along for the ride, you are going to see a huge increase in orders. With or without promos running on Prime Day, you are going to get some of the major traffic flowing to your store. Be prepared to handle that spike so you don’t end up with angry customers and Amazon ratings that will hurt you.