Prime Day 2024 Prep: Maximizing Sales and Customer Engagement

With Amazon Prime Day 2024 approaching (rumored to be taking place July 16th and July 17th), sellers must start preparing now to make the most of this massive sales event. Check out Envision Horizons’ list of best practices… Review and Optimize Product Listings Manage Inventory and Fulfillment Utilize Amazon Advertising and Promotions Leverage External Marketing Channels […]
Written By Tristan Williams
Published on June 5, 2024   |3 minute read

With Amazon Prime Day 2024 approaching (rumored to be taking place July 16th and July 17th), sellers must start preparing now to make the most of this massive sales event. Check out Envision Horizons’ list of best practices…

Review and Optimize Product Listings

    • Analyze your product detail pages and address any negative reviews or common customer questions.
    • Ensure all products have a “list price” to be eligible for Prime Exclusive Discounts.
    • Turn off auto pricing and strikethrough pricing at least 30 days before Prime Day.
    • Optimize main images for click-through and engagement, focusing on mobile-friendliness.

    Manage Inventory and Fulfillment

      • Forecast inventory needs for pre-Prime, during Prime, and post-Prime periods.
      • Ensure sufficient stock for promoted ASINs and consider the entire holiday season.
      • Monitor return rates and address issues to avoid extra fees for excessive returns.
      • Compare costs of using Amazon-optimized shipment splits vs. sending inventory to multiple locations from your warehouse/3PL.

      Utilize Amazon Advertising and Promotions

        • Increase ad budgets and set higher maximum bids during Prime Day.
        • Set up coupons with discounts over 5% and Prime-targeted audiences.
        • Create limited-time Lightning Deals for extra visibility.
        • Build a dedicated Prime Day version of your brand’s Amazon Store and schedule it to go live during the event.
        • Explore new advertising opportunities like Streaming or Sponsored TV ads to reach audiences on platforms like Amazon Freevee and Twitch.

        Leverage External Marketing Channels

          • Promote Amazon listings through other marketing channels using Amazon Attribution to earn referral fee credits.
          • Use platforms like TikTok to drive awareness and engage potential customers. Last year, videos with #primeday, #primeday2023, and #amazonprimeday2023 were viewed at least 400 million times on TikTok during the sales event. 
          • Take advantage of the Brand Referral Bonus program to earn additional incentives.
          • Leverage Creator Connections: Harness the power of Creator Connections to drive growth and incremental sales leading up to Prime Day. Invest in creator commissions to achieve high ROI, as demonstrated by the case study where a $5K investment led to $108K in revenue for a beauty brand client (2075% ROI).Integrate Creator Connections seamlessly with your holistic Amazon strategy for optimal results. Utilize insights from successful campaigns to amplify the impact of Creator Connections and avoid potential “flops.”

          Implement Real-Time Optimization

            • Utilize Amazon Marketing Stream and rapid retail analytics to react to shopper behaviors and trends in near real-time.
            • Validate strategies, make pivots, and drive campaign efficiencies based on hourly insights and signals.

            Set Goals and Analyze Past Performance

              • Set specific goals for Prime Day 2024, such as increasing sales volume, attracting new customers, or launching new products.
              • Study past Prime Day events to understand trends and consumer behavior.
              • Use insights from previous years to inform your strategy and decision-making.

              In Conclusion:

              With the right strategy and execution, Prime Day 2024 can be a game-changer for your business. Check out more tips for the sales event directly from Amazon.

              Don’t leave your Prime Day fortunes to chance. Book a strategy session with our team to go behind the scenes and discover how we’ll craft a winning game plan tailored to your brand for success on Amazon. While others are still experimenting, you’ll be executing a proven winning game plan!

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