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How to Leverage Amazon Prime Day

How to Leverage Amazon Prime Day

We all know that e-commerce is dominated by Amazon. So much so that they came up with their own two-day shopping event, which will take place in June 2021 and 2022, respectively. Amazon Prime Day began in 2015 as a one-time shopping event for Amazon Prime members only. Since then, it has grown to include several days of early deals leading up to Prime Day.

Millions of shoppers flock to this eagerly anticipated event in search of bargains on electronics, home décor, and fashion. Products were sold for over $10 billion in 2020, up 45% from $7.16 billion in 2019. 54% of other retailers planned their promotions around Prime Day, according to RetailMeNot. Experts at Liger Partners say that smart businesses are now taking advantage of this day of deals to increase their own visibility and sales.

“Some business owners might believe that Prime Day has nothing to offer them and that the event merely aims to boost Amazon’s sales. However, Eric Holtzclaw, chief visionary partner at Liger Partners, stated, “Many businesses sell through Amazon while maintaining other sales channels, like their own e-commerce websites.” Even if you do not sell through Amazon, using Prime Day to set up your own sales and incentives is a good strategy.

In order to maximize success during Amazon Prime Days, Liger Partners offers the following advice to expanding businesses:

  • Get Ready. Prime Day is a fantastic opportunity to promote your business and products to a large number of consumers and business buyers looking for discounts if you already sell on Amazon or plan to do so. Make the most of the resources and tools that are available because Amazon wants its third-party sellers to succeed on Prime Day.
  • Check the clock. The dates of Prime Day change every year. There are resources available to help you improve your sales strategies, like Increasing Sales and a page with specific information for third-party sellers selling on Amazon. Prior to the event, the company also promotes the #PrimeDay hashtag. Make use of this hashtag to advertise your company and products on social media to attract customers looking for Prime Day deals.
  • Participate. Even if you do not sell on Amazon, you can still join Prime Day. To coincide with Amazon Prime Day, many businesses hold their own sales. Even though you cannot use the term “Prime Day” if you are not an Amazon seller, you can come up with creative ways to tie your own promotions to this day of deals without explicitly mentioning it.
  • Appreciate. You should be aware of your audience, just as Amazon is aware of its membership audience. Who is your company’s unique group of Prime Members? Explain to them that you value their business and that they are eligible for deals without having to sign up for a membership. Walmart, Target, and Best Buy all held huge sales on Amazon Prime Day the year before, and you didn’t need a membership to take part. By understanding and appealing to your target audience, you can work to acquire new customers.
  • Create it. By stocking up on your most popular products or making sure you have enough staff, you can make sure you don’t run out of products before the event ends. Make use of data from previous sales to identify the products that are most likely to be sold out and acquire additional stock to meet anticipated demand.
  • Or destroy it! It’s possible that you’ll run out of stock even if you make the best preparations and analytics. By providing a “rain check,” let customers join a waiting list for products and services that are sold out so they can still get the Prime Day deal when you can restock.
  • Keep up to date. Whether you’re participating in Prime Day or holding your own (coinciding) sales event, you should hype your sale in advance just as Amazon does. If you have a physical location, you should advertise your sale via social media, your company’s website, and onsite signage. Ask your loyal customers, employees, vendors, friends, and family to serve as brand ambassadors. to help spread the word about you by sharing your information on their social media platforms. Consider highlighting the fact that customers do not require a subscription to participate in your fantastic sale if you are not selling through Amazon.
  • Prepare to Leave. Check every page of your website for errors like typos, broken links, and incorrect product information or pricing prior to your sale, which will bring in more visitors than usual. Also, make sure your e-commerce functionality works properly and can handle an increase in sales. Ideally, you want to bring in new customers to your website, so you want them to have a pleasant and error-free experience. Ask a coworker or trusted friend to check your website again to make sure you didn’t miss any problems.
  • Profit from your Prime Day hangover. Imagine this: You’ve been trying for months to get concert tickets at half price, but they sell out before you can buy them. Then, someone offers to sell you concert tickets right now; you’d probably take them for whatever price. The same idea applies to what comes after Prime Day. People who missed out on Amazon’s deals can be caught if you extend your own sale for a day or two after the Prime Day event ends. To attract customers who are still looking for deals, you might want to set your sale to end the day after Amazon’s.
How to Leverage Amazon Prime Day
How to Leverage Amazon Prime Day

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