Prime Day 2020 & How You Can Prepare for AnythingCaroline Powell
Early reports indicated that Amazon’s famous July event is likely to be postponed, possibly until October. Amidst coronavirus concerns, it’s looking increasingly likely that this is the case. We’ve seen extended dates for Prime Day 2020 for sellers to submit both inventory as well as lightning deals.
Many sellers utilize Prime Day to pad slower selling months throughout the year. In 2019, the Prime Day sale sold more items than Black Friday and Cyber Monday combined. It has become such a behemoth of a sale that other large retailers, like Walmart and Target, have also started hosting similar sales marathons.
Since Prime Day has such a big impact both on Amazon as well as third-party sellers across the marketplaces, it’s unlikely Prime Day 2020 will be canceled in its entirety. However, without a definitive date for the sale, and with so much uncertainty at this time, how can you stay relevant and current to continue your brand’s success?
Test a sale price.
There are times when Amazon will prioritize certain things, as we’ve seen with the recent coronavirus pandemic. In fact, they had completely disabled the ability for sellers to create new coupons. However, you can offer a sale price on a listing, even when coupons have been disabled.
Lightning deals and special offers need to be approved for Prime Day 2020, so running a sale price is a great option for brands who have missed the deadline or didn’t get approved.
Good news! Coupons are back in Seller Central! As of May 12, we noticed this functionality open back up for sellers. Adding a coupon to your listing gives a visual cue to potential buyers that you have a sale. They are able to save money by choosing your product over a competitor’s.
Remember, you are charged per redemption on a coupon, so you will need to include this in your profitability margins when creating it. You are not, however, charged for the separate “Promotions” area (discounts like Free Shipping, or Buy One, Get One).
Start your own website.
Now is a great time to start something new and create your own website if you haven’t already. One of the main advantages of having your own website is that you own your customer right from the moment they land on your site. The message is yours. You don’t have competitors fighting on the listing or stealing advertising space.
Looking for help with starting your own website? Talk to our friends over at X-Cart! We’ve got solutions for businesses of every size, and it’s completely customizable for your needs.
Build your community up in time for Prime Day 2020.
How brands behave and react in times like these says a lot about their core principles. Shoppers want to do business with companies they trust. Much like the #shopsmall or #shoplocal movements, people want to purchase from businesses they feel they can really support.
The more of a relationship you are able to build with buyers or potential buyers, the more likely they are to purchase from you. Additionally, the more likely they are to recommend you to friends and family. A loyal customer is your greatest advocate. When you have a community, you can also utilize it for product launches or to help give your listing a boost.
Even Amazon understands the importance of having sellers build their own community because they’ve created “Social Media Promo Codes,” allowing a unique, customizable code that can be shared on landing pages or even with influencers.
Building a community looks very different to different businesses. For some, a presence on social media is enough. Other communities may require a little bit of effort, like a blog section on your own website.
Just find a way to get your audience engaged. Try a social media contest to have buyers post photos of your product in use. Then, you have a plethora of content to share back to the community (with the buyers’ permission of course).
Look into Merchant Fulfilled or 3PL options.
FBA has been a blessing for countless Amazon sellers. The ability to have built in logistics and shipping with little to no effort from you is a powerful incentive. However, sellers experienced the stress of exclusively relying on this fulfillment earlier this year. Those sellers who were able to pivot and opt for merchant fulfilling orders or tapping into their 3PL network were more likely to be more successful.
Don’t wait for the next pandemic, logistics upset, or market turn to add these options to your wheelhouse. If Amazon is overwhelmed or inundated, how can you continue to provide for your buyers?
Partner with others!
We have seen some great partnerships come out recently. People have been staying home and having to get creative for entertainment for adults and kids alike. If you have a game company, partner with a snack company and create a “Game Night Bundle.” Maybe you sell raised bed gardens and decide to work with a company who sells seeds to create a bundle.
It also doesn’t even need to be product bundling. So many online services, like Zoom or Google Meet, are becoming available to everyone for free. Find someone with complementary skills and hop on a Facebook Live. You’d be surprised at the massive impact humanizing your brand can have.
Shopper trends and search behavior change for a variety of reasons. There could be a global pandemic, forcing people to get creative. Maybe it’s an upcoming holiday, and they’re looking for new gift ideas for a mother or brother. Go beyond what you think your product is or does to how else it could be used.
Advertising Tip: We do not recommend bidding on keywords like “Prime Day” around the sale. The competition is too severe.
One of my favorite examples arose from the COVID-19 pandemic. Aloe is most commonly thought of for its use on sunburns. However, as people needed to get creative, it quickly came out that aloe is an ingredient in most DIY hand sanitizers.
Another example comes from eBags. On Amazon, they primarily focus on their packing cubes which are great for traveling. Since no one was really traveling, they shared on social and to their email lists all the different ways you could use the packing cubes: fill and use as weights for workouts, treat them like a picnic basket, organize your out-of-season clothes, and more.
Use this same creative mentality to find new sales opportunities for Prime Day 2020.
Don’t be afraid to try something new.
Disruption brings opportunity. It’s our mantra here, and it should be your mantra as well. Generally, in periods of big change, we’re likely to be shocked into doing nothing. “Well, what I’m doing is working right now, so I’m just going to keep doing it.” Those companies and brands who are able to adapt are the ones who will flourish.
What’s holding you back from trying something new? Jot ideas down somewhere you can always come back to. Maybe now is the time to reach out to influencers. You might find that you have a wealth of time to create content for a blog on your website. You could also start researching that new product line you’ve been thinking about for the last few months.
Obviously, these recommendations go beyond Prime Day 2020 delays and uncertainty. Here at Seller Labs, our goal is to help you be prepared if anything like a pandemic should happen again (knock on wood).
These are ways to combat restrictions and limitations from Amazon, but also ways you can go about growing your business anyway. If you don’t have your own website, why not? If you have a fun brand or a wealth of knowledge you’re not sharing on social media, why not? As we said, don’t be afraid to get creative and try new things. Remember though, what works for one brand won’t necessarily work for yours.
Read more about the unusual nature of Amazon Prime Day 2020 and how you can roll your efforts into Q4 to win big! Check out [UPDATED] 6 Tips for Preparing Your Brand for Amazon Prime Day 2020 (and Q4).
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