Amazon dominates the eCommerce world. So much so, that they created their own 2-day shopping event taking place June 21st-22nd, 2021. Amazon Prime Day started in 2015 as a one-day-only shopping event exclusively for Amazon Prime members, and it has since expanded to multiple days with early deals leading up to Prime Day.
This highly anticipated event attracts millions of shoppers looking for special deals on everything ranging from electronics to home décor and fashion. In 2020, $10.4 billion worth of goods were sold, up 45.2% from $7.16 billion in 2019. According to RetailMeNot 54% of other retailers planned their promotions around Prime Day. Savvy businesses are now leveraging Prime Day to boost their own sales and visibility, according to experts at Liger Partners.
“Some business owners might think Prime Day has nothing to offer them, and the event is just about increasing sales for Amazon. However, numerous businesses sell through Amazon even while retaining other sales channels, like their own eCommerce websites,” said Eric Holtzclaw, chief visionary partner, Liger Partners. “It’s a good strategy to leverage Prime Day even if you don’t sell through Amazon by setting up your own corresponding sales and incentives.”
Liger Partners offers the following tips for growing businesses to increase sales, spotlight your brand, and maximize success around Amazon Prime Days:
● Get Primed. If you already sell on Amazon (or plan to), Prime Day is a great opportunity to expose your business and your products to a tremendous number of both consumers and business buyers searching for deals. Amazon wants its third-party sellers to thrive on Prime Day, so take full advantage of the tools and resources available.
● Watch the Time. Prime Day dates change each year. Resources are offered to improve your sales strategy (see: Increasing Sales) and their dedicated page of details for third-party sellers when selling on Amazon. The company also promotes the #PrimeDay hashtag leading up to the event. Promote your business and products using this hashtag across social media to attract customers looking for Prime Day deals.
● Participate. Participate in Prime Day even if you don’t sell on Amazon. Many businesses hold their own sales to coincide with Amazon Prime Day. While you can’t use the “Prime Day” term if you’re not an Amazon seller, get creative in tying your own promotions to Prime Day without mentioning it directly.
● Appreciate. Just like Amazon knows their membership audience, recognize yours. Who does your business identify as its unique Prime Members? Tell them why you appreciate their business— and why they qualify for deals without having to pay for membership! Last year, Walmart, Target, and Best Buy all held huge sales during Amazon Prime Day and didn’t require a membership to participate. Work to attract new customers by knowing and appealing to your audience.
● Make it. Ensure that you don’t run out of products before the event ends by stocking up on your most popular items, or make sure that you are staffed up. Use prior sales data to determine which products are most likely to sell out, and secure extra inventory to meet the anticipated demand.
● Or break it! Even with the best analytics and preparations, you might still run out of stock. Allow clients to join a waiting list for sold-out products and services by offering a “rain check” so they can still get the Prime Day deal when you’re able to restock.
● Get in the Know. Amazon hypes Prime Day in advance – you should do the same for your sale, whether you’re participating in Prime Day or holding your own (coinciding) sales event. Post information about your sale on your company’s website, via social media, and through onsite signage (if you have a brick-and-mortar location). Ask your brand ambassadors (loyal customers, employees, vendors, friends, family, etc.) to share your information to their social media channels to help generate buzz. If you aren’t selling through Amazon, consider spotlighting the fact that customers don’t need a subscription to participate in your fantastic sale.
● Be Ready to Go. In preparation for your sale – which will send more traffic than average to your website – look through every page of your website for errors like typos, broken links and incorrect product information or pricing. Also, ensure that your e-commerce functionality is working correctly and can handle a spike in sales. Ideally, you’ll be attracting new customers to your site, so you want to make a positive first impression with an error-free, hassle-free experience. Ask a colleague or trusted friend to double check your site to catch any issues you may have missed.
● Leverage the Prime Day hangover. Picture this: you’ve been waiting for months to score half-price concert tickets, but they sell out right before your turn to buy. Then, someone offers to sell you their concert tickets at that very moment – you’d probably buy them at any price. The same concept applies to post-Prime Day. If you extend your own sale for a day or two after the Prime Day event ends, you can catch people who missed out on Amazon’s deals. Consider setting your sale to end the day after Amazon’s, and you’ll attract people still looking for deals.
“Amazon’s Prime Day has become a hot commodity – much like Black Friday and Cyber Monday – for people wanting good deals. Businesses should take advantage of this annual event, either working with Amazon or going out on their own with strategically timed sales and incentives,” Holtzclaw explained. “It’s particularly important to maximize sales after the tough financial year we’ve had due to the COVID-19 pandemic. This is a good time to capture some much-needed revenue, so take full advantage of the opportunity.”
About Liger Partners
Based in Atlanta, Liger Partners is a full-service marketing firm delivering everything from an engaging social presence to a full outside marketing solution crafted to an organization’s specific needs. Why the name Liger? Because, much like the mythical creature from the movie Napoleon Dynamite, we’re a bunch of marketing and operations experts bred for our skills in magic. …and our awesome dance moves and mad nun chuck skills aren’t half bad either. Connect with us on Linked-in/LigerPartners @LigerPartners, on Facebook, or visit the website.