Amazon Prime Day 2020: What is it, and how to prepare your business?

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Most people have heard of Amazon, if not shopped there already, and this assumption is strengthened by the sheer number of daily visitors this platform has. To give you an idea of Amazon’s popularity, 9 out of 10 consumers check a product on Amazon before making a final purchase, which is beneficial for both buyers and sellers. For buyers, checking Amazon allows them to find the best deal out there, and sellers have the perfect opportunity to attract customers and convince them to buy their product. 

But Amazon’s services do not stop at offering a wide variety of products and worldwide shipping. In fact, starting with 2005’s basic version of Amazon Prime, the platform developed the service, including features that mostly revolve around entertainment and comfort. These features include Prime Music, Prime Video, Prime Reading, Prime Pantry, Prime Now, Amazon Key, Prime Air, and Prime Gaming. 

A Short Introduction to Amazon Prime

According to the reports that Amazon issues in January 2020, Prime has more than 150 million subscribers worldwide, which makes it one of Amazon’s most well-sought services. But what exactly makes Prime so appealing to customers? How does it improve the buying experience? 

The main reason why people get Amazon prime might be the shipping time. For eligible items, you can get a wide variety of delivery options, all of which are free and fast. You can choose from one-day deliveries, same-day deliveries, 2-hour grocery deliveries, Amazon Day deliveries, and In-Garage or In-Home deliveries. 

And the perks don’t stop here! Amazon Prime also allows you to watch TV series, movies, and live events, let you listen to music, and grants you access to thousands of Ebooks, comics, and magazines. So it’s not surprising that for  $12.99 a month, customers are choosing Prime. 

What Is Amazon Prime Day?

Prime Day is an annual event that is specifically organized for customers that have the Amazon Prime membership. The event started taking place in 2015 when Amazon was celebrating 20 years of existence. Although it only lasted 24 hours initially, the time-frame has increased to 48-hours, allowing buyers to make as many purchases as they wish. But what exactly can Amazon Prime members expect from this event? 

Prime Day’s main attractions are the sales and low product prices, which give Black Friday a run for its money. But that’s not all. In the past two years, Amazon combined the power of sales with entertainment, providing concerts featuring famous singers and streaming them exclusively on Amazon Video.

Although Prime Day doesn’t have a fixed date, it usually starts in July, the dates varying from the 10th until the 16th. Due to this year’s unusual circumstances, the event was pushed until this fall. A certain date has not been made public yet, but many speculate that Prime Day will take place in October.  

How To Prepare Your Business

Amazon Prime Day’s delay has disheartened many, but we believe this gives sellers a great opportunity to prepare a bit more for this event. Until now, we have discussed Amazon Prime and Prime Day from the perspective of a buyer, but what does Amazon Prime mean to sellers and business owners? And how can you prepare your business for such an important event?

To put it simply, Prime Day offers business owners that have their products on Amazon the chance to increase their sales over the course of the event exponentially. But because this event has shown such a great increase in sales in the past few years– compared to 2018, when Amazon sold 100 million products, in 2019, Amazon managed to sell over 175 million products– a lot of popular retailers have also joined the event to get a share from that profit. This makes it more difficult to stand out, so your business must thoroughly prepare to compete with big names, such as Walmart. 

Here are some tips that you can try out this year’s Prime Day:

Make an Plan

The first thing that you should do is make a plan. Take a look at the products that brought you the biggest revenue in the past and make sure that you are fully stocked. You should also check to see what other products your business offers could go well with the main ones and create some product bundles that you can see. 

Make Use of Lighting Deals 

Lighting Deals are promotional offers in which a limited number of discounts are given in a certain time-frame. Using this type of deal, you can maximize your sales by creating a sense of urgency around your offer. 

Deliver the Products on Time

You might be overwhelmed by the number of products you have, but that should not stop you from offering great customer service and good delivery time. If you have a certain number of products displayed, make sure that you can deliver every one of them on time. 

Optimize your PPC Campaigns

Your PPC campaigns are always important, but you might forget to optimize them with everything else going on. Check your keywords to see if they are relevant and don’t exceed your budget with your bids. Although this is a great opportunity to get some sales, you should not spend more than you need. In case you’d like to automate this process and ensure that your Amazon campaigns are always optimized, you can always check out Adspert’s services. 

Market your Products

Let your customer base and your social media followers know that you’re going to participate in Prime Day and that you’re preparing some special offers for them. Hint at those special offers, and don’t forget to leave links that will take leads or second-time buyers directly to your products. 

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