The Evolution of Prime Day
Prime Day will always be fast and furious, especially for marketers, but it’s no longer just a single day of discounts. It has expanded to include not just several days of the event itself, but also early deals leading up to it and extended sales periods afterward. Brands now have the opportunity to capture consumer interest before, during, and after Prime Day, making it an extended marketing goldmine.
Capturing and Maximizing Traffic
It goes without saying that during Prime Day, consumer traffic on Amazon surges dramatically. Pre-, during and post-event, shoppers flock to the site, adding items to their carts in anticipation of discounts, in some cases even before the event kicks off, and waiting for deals to finalize their purchases. This behavior creates a unique opportunity for brands to engage with a massive audience all at once.
Early Efforts and Lagging Sales
Offering early deals is an effective and strategic move to capture the pre-Prime Day traffic. Shoppers start visiting Amazon with the hope of finding early discounts, and brands can capitalize on this by running early promotions. Another tried and true way to take advantage of the lead-up to Prime Day is to invest in awareness driving opportunities to increase top of mind awareness. Additionally, post-Prime Day sales help capture those who missed out on the day itself, ensuring no potential customer is left behind.
But once the dust has settled, what do marketers do? Besides nap, of course. Retarget, retarget, retarget.
The Power of Retargeting a Fresh New Audience Pool
The surge in traffic leading up to and during Prime Day creates a fresh and extremely valuable retargeting pool. Brands can retarget these engaged consumers in subsequent campaigns, maximizing the impact of their Prime Day marketing efforts. This fresh pool is crucial for driving future sales and maintaining consumer interest.Strategies for Effective Retargeting
To make the most of the Prime Day halo effect, brands should increase their retargeting budgets during and after the event. Engaging customers with relevant ads and messaging is essential to convert them into repeat buyers. Plus, utilizing insights from their behavior during Prime Day can help tailor these retargeting efforts for maximum effectiveness.
While a retargeting budget may not be the biggest share of your budget, during a time period like post-tentpole event, it can be extremely effective to increase it. However, it’s critical to not lose sight of overall brand goals - while moving budget to retargeting in the aftermath of Prime Day is an effective strategy, it shouldn’t be the only strategy post Prime Day.
Tailoring Strategies to Brand Goals
Different brands have different goals, whether it's acquiring new customers, increasing cart value, or driving sales in specific categories. Tailoring marketing strategies to these goals ensures that budgets are used effectively. For example, a brand focused on new customer acquisition might prioritize visibility and engagement during Prime Day, while a brand looking to increase cart value might focus on cross-selling and upselling.
Turning Shoppers into Brand Loyalists
While Prime Day sales totals are undoubtedly important, those doing it right know it’s not just about one-time sales. It's an opportunity to turn shoppers into brand loyalists. Engaging consumers during Prime Day can lead to repeat purchases and cross-selling opportunities. For instance, a parent shopping for back-to-school items might buy a water bottle during Prime Day and later be retargeted with ads for matching items, resulting in additional sales.
Leveraging Prime Day Audiences for Holiday Sales
Additionally, the Prime Day audience pool remains valuable for future campaigns, especially during the holiday season. Consumers who converted during Prime Day are likely to respond to other promotions, making them a prime target for retargeting efforts.
Continuous Audience Refresh
Frequent sales events provide continuous opportunities to refresh and retarget audiences. Maintaining engagement with these consumers ensures that brands stay top-of-mind, leading to sustained growth throughout the year.
Prime Day has evolved into a multi-phase event that offers brands unparalleled opportunities for sales, traffic, and retargeting. By understanding and leveraging the halo effect of Prime Day, brands can drive sustained growth and success throughout the year. It's essential to allocate budgets strategically, tailor marketing strategies to specific goals, and maintain ongoing engagement with consumers. Implement these strategies in your Prime Day campaigns to maximize their impact and take full advantage of all Prime Day has to offer.