The first big Amazon shopping event of the year is on the horizon: 2022 Amazon Prime Day. While no dates have been officially announced, late June or early July is a likely timeframe for the event and Amazon is looking to brands to start their planning. Just a few weeks ago, they announced their Vendor Central Prime Day Lightning Deal Guidelines, along with their Prime Day Operational Preparedness updates.
Key dates have also been revealed. Keep in mind these critical dates have come from Amazon, and more information and dates are to be released soon:
If your brand hasn’t started planning for Prime Day, you may already be behind. Now is the time to begin, and there are a few essential tasks that should be completed in April.
Code3 Amazon Strategists have already begun aligning with our clients on which items will have promotions running, as well as presenting recommendations on strategy for Search and DSP advertising to drive incremental traffic to priority products leading up to, during, and following the major event. It’s critically important to have selected these ASINs as soon as possible to get ahead of strategy planning, not miss key dates from Amazon, and get shipments ready in advance.
When considering promotions, don’t forget about the value of coupons and further advertising. Throughout peak periods in 2021, a number of deals and promotions were removed or flagged right before the event, which left brands in a crunch. If this occurs again, leaning on coupons can be beneficial; particularly when paired with further advertising for increased visibility.
It’s never too early to think about inventory management, especially ahead of a big event where ASINs can sell out. Amazon recently released a Seller Central update for Prime Day shipping and notes that shipments should arrive at the fulfillment center prior to June 20. When considering shipments, brands should also consider logistics, weather, customs, and any carrier-related issues. It’s better to have your shipment arrive early than too late.
Once a brand selects its priority and ASINs for promotions, take a detailed look at the inventory of those products. Be sure to answer these three important questions:
If inventory challenges may loom, reconsider running a promotion on those specific items or begin to work on overcoming the issues. There are a few months left before Prime Day, so now is the time to get the ASINs in good standing and alleviate inventory issues. Brands may also want to consider crafting a “Plan B” list of promotions, in case inventory struggles can’t be solved prior to Prime Day.
Another critical conversation to have prior to Prime Day is about ad coverage and budget planning. Code3 Amazon Strategists recommend full advertising coverage built across all priority and promotional items, along with incremental or daily/monthly budget increases. Aligning the increased coverage and budget as early as possible allows for a smooth and strategic approach.
Before nailing down a Prime Day strategy, brands should answer a vital question: what does success look like? This is where strategy starts. Are there KPIs that are important to leadership and/or different ways of defining success for this shopping event? How does success differ between an event such as Prime Day, compared to your evergreen goals, and how can we accurately measure success? Knowing what success will be makes it easier to develop a strategy to get brands to the finish line.
Once a brand has aligned on its priority and promotional ASINs, it’s imperative to make sure the PDP is technically sound, has great imagery, A+ pages and a Brand Store, and informative content with appropriate keywords for discoverability. It’s never too early to ensure the page a consumer lands on is set up to inspire a quick add to cart.
Prime Day is an important event to all brands, but it can be complex to navigate on your own. A successful, comprehensive strategy is critical to success. If you could use a partner to help guide you through Prime Day and beyond, contact us today.