What is Prime Day?
Started in 2015 as a celebration of Amazon’s birthday, now it has become a tradition for the customers, sellers and vendors. The interest in Prime Day is so high that Amazon kept extending the time frame allocated for it. Last year in 2019, the Prime members enjoyed 48-hour numerous Prime Deals, while the sellers and vendors enjoyed increased sales. However, the date for Amazon Prime Day 2020 is not announced yet and there is not an official statement from Amazon.
As we always say, the users on Amazon are already in the intention of buying something but special days like Prime Day doubles this intend. In 2019, 175 million products were sold during Prime Day.
For the sellers and vendors who want to leverage their sales and increase their revenue, Prime Day is very important event of the Q3.
Preparation for Prime Day
As you already know, Prime Day is all about “Deals”. In order for a product to be eligible for a Lightning Deal it must be Prime eligible, either via Fulfillment by Amazon (FBA) or via Seller Fulfilled Prime.
How do Prime Deals work?
There are three different types of deals that you can offer:
Spotlight Deals offer a huge amount of discount for the most popular products until either Amazon runs out of stock or for 24-hour. To be eligible for Spotlight deals, your products have to meet the following criteria:
- At least 30% off the current site price
- The lowest price so far in 2020 (including previous Promotions pricing)
- New condition
- Products that have 4.0-star rating or higher and at least 5 reviews
- Images that match the style guide
- Must not have been on deal as any deal type for 30 days before Prime Day
Lightning Deals are promotional offers which are displayed for a limited time, which is usually between 4-6 hours determined by Amazon. Lightning Deals give sellers and vendors the opportunity to melt off their inventory and increase their sales in a short period of time.
Lightning Deals Product Criteria
To run your products as Lightning Deals, they should meet the following criteria:
- Sales history in Amazon stores
- At least 3-star rating
- Not restricted and offensive products
- New condition, not second-hand products
Lightning Deals Fees
Please keep in mind that there is a participation fee for Lightning Deals if you are planning to display your products as Lightning Deals. You can find the amount next to the Submit button after you create your deals.
The fee is determined by the Amazon marketplace you are attending as well as the timing of your deals running. The fee amount is heavily based on the timeframe that your deals run because certain times get huge customer traffic.
Attention❗: When your deals are approved by Amazon, depending on the time that Amazon decides to run them, there can be changes in the fee amount. If Amazon decides to run your deals at a time that has great customer traffic, the fee will be higher.
Apart from the eligibility of the products, the deals you offer should be appealing for the customers and Amazon. Amazon usually looks for deals that offer at least %20 off for the customers.
Prime Targeted Voucher Deals
If you do not wish to run Spotlight Deals or Lightning Deals, or if you are late to submit your products for Deals, you can offer Prime Targeted Vouchers by offering discounts on a set of products. The vouchers for Prime Day must meet the criteria below:
- At least 20% off current website price
- At least 3.0-star review rating
- ASINs must be Prime eligible
- Vouchers can be created until the Prime Day (unlike other deal types)
- Select Prime members as your customer target
Deadline for Submission of the Products for Prime Day
Amazon Prime Day 2020 is on hold for now, but you can submit your deals at the moment to have a chance for them to be reviewed for Prime Day.
How to Submit Deals1. Before starting to create deals, as a seller or vendor you must check your eligibility.
Requirements for the Sellers
To sustain the quality of service and products, Amazon establishes some requirements for the sellers who want to promote their products as Lightning Deals. You should:
- Have a Professional Seller Account
- At least five Seller Feedback Rating per month
- Overall rating of at least 3.5 stars
Requirements for the Vendors
The criteria requested from vendors differ slightly from Sellers’. As a vendor, you should have:
- Overall rating of at least 3 stars
- Retail offer must be active
2. If you are meeting the criteria for the Deals, go to Advertising in your Amazon Seller navigation, and click on “Deals”.
3. If you already have run Deals, you can find your history on this page. Click on the “Create New Deals” on the top right corner of the page.
4. Select the products you want to run.
5. Pick the date you want to run your Deal.
6. After selecting the time frame, you need to enter the discount you offer and your product inventory for this deal.
7. After you review the deal you are offering and make sure everything is correct, submit it for approval.
Prime Day Best Practices
The first things first! Shine your Digital Showcase for Prime Day👉Check your titles, descriptions, and your images. If you are not using video content, you can give it a try.
Optimize your Amazon PPC Campaigns👉 Set your portfolio goal loose
If you are using the Adference tool for optimization of your PPC campaigns, we advise you to set your portfolio goal loose up to 50% higher one day before Prime Day.
👉 Increase your bids manually
At the beginning of Prime Day, check if you reach your portfolio goal, if not, then we advise you to increase your bids.
- Make use of marketing actions offered by AMS
👉Offer coupons and discount codes to appeal to customers.
- Set your bids “Dynamics bids- up and Down” on AMS
👉Amazon increases your bids if there is a possibility of converting into the sales.
- The last but not the least!: Don’t forget to decrease your bids and daily budget after Prime Day!