Prime Day: how Brands must prepare the event
Prime Day is the ultimate Amazon event, which the Company dedicates to its subscribers. The brand must realize that it is not enough just to be on Amazon but they must also be noticed by the final consumers. How do that? By stealing traffic and conversions from the competitor with the right selection of products, the right price and the right communication method.
Federica Soro, Amazon Marketing Manager at Kiliagon, answers three key questions about Prime Day.
What are the Macro-areas a Brand should focus on?
The first starting point concern the products, understanding which ones brands want to promote - and with what strategy - to the consumer: they can be the bestsellers to perhaps consolidate sales and make themselves known or can be the slow movers, to exploit the traffic on the category brought by the event; this is the first step to set up and then every brand can adapt a certain type of strategy. We recommend having a huge stock of products in promotion in order not to go out of stock.
Speaking of promotion, we also talk about fair price. There is a major discount during Prime Day, so which promotion is the best? Brands need to think about the discount percentages in line with the business but also think about the event and the budget.
The third step is the advertising: understanding the channel through which communicate the offers.
How to approach Prime Day from the media planning point of view?
Planning during Amazon events such as Prime Day must be structured and thought out within the company long before the deadline. There must be a defined, consolidated, and shared investment plan regarding which campaigns to use, what objectives to push towards and which better formats to choose: that is, a brand must understand the best means of communication where to push the brand during the event.
It also takes a preparation from the point of view of content to communicate participation in the event: define creative assets to be included in the campaign and in the brand store itself. This should be a standard strategy to be then adapted to every brand depending on budget and store.
Does the increase in the cost of CPC and the loss of earnings justify the results in the long run?
The increase in CPC during these events is well known, there is traffic and all brands want to gain visibility. The company that submits the offers makes a margin reasoning, but sometimes on products that have great potential given by category data, there might be a broader reasoning: brands can think of going under margin to have long-term benefits: taking into account that if a product becomes a best seller and recognizable in a long time by the consumer, in the short term then it is worth making a sacrifice of loss, but trying to have a profit on the other products that have been put on promotion during the event.
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