Prime Day 2020 was a record-breaking event and Prime Day 2021 which will be held on June 21st and 22nd could be even bigger.
We have gathered a list of last-minute advertising tips based on our experience from previous years which will help you better prepare for Amazon Prime Day 2021.
Cost per Click increases during Prime Day by 50%-100%.
Make sure you to set your objectives and make the necessary adjustments to your bidding strategy accordingly.
Think about your Target ACoS and your goals. Ask yourself whether you want to focus on maximizing profits, maximizing sales or balance between the two. Which of your ASINs should you focus on to achieve these goals?
Once you know your objectives it is time to ensure your bids are set accordingly. Adjust your bids to reflect your strategy. Reduce bids across campaigns that you know will not support your goals and increase for those that do support it.
We recommend performing a final review right before Prime Day (~24-48 hrs. before) which will allow you to make any last moment adjustments to your keyword bids in accordance to your strategy.
Ad spend typically increases by 50% during Prime Day so you must ensure this is reflected in your campaign budget settings. The last thing you would want is to lose sales and profits due to running out of budget. Make sure to fine tune budgets with an emphasis on top performing and top revenue driving campaigns.
We recommend monitoring the budgets throughout Prime Day at least twice. 6 hours and 12 hours from the start of the event. This will ensure you pick up on high velocity campaigns and identify these enough in advance.
Related: How to Manage your Campaigns Daily Amazon Budget
Make sure to prioritize your high-performance keywords. Consider moving them to single keyword campaigns (if you chose to do this make sure to create a duplicate keyword so you do not lose traction on the old one during the transition) giving you more granularity and control over placements. Your top performing keywords have the potential to grow exponentially during the time of the event, so it is important to ensure their bids and budgets are set properly.
Optimize your bids as necessary. Remember, this is a high traffic event and as opposed to regular days, you should have sufficient data to make decisions in short periods of times.
Top of Search placements typically have a 4.5 x CTR and 1.5 x conversion rate than other placements. Imagine how many sales you can generate by adjusting your placements during the Prime Day event.
Make sure to review your campaign placements and add bid multipliers where relevant (campaigns with a TOS low ACoS and campaigns where the TOS and other placements are similar, but TOS has a hight CTR and CVR). DO NOT do this across the board as it might be costly where this is not effective.
Getting your placements right can be the difference between a good Prime Day to an AMAZING one!
Related: How to use Amazon PPC bid placements
Your items will be exposed to a lot of new shoppers during this event which is a great opportunity to set retargeting campaigns right after Prime Day. This is a great way to target potential shoppers that might have been interested in your items but due to so much action decided to wait with their purchase.
Use Sponsored Display or Amazon DSP to retarget these visitors.
Make sure to review your auto campaigns and negate any underperforming terms. It’s likely they will receive traffic and might negatively impact your performance.
On the contrary these campaigns can suddenly pick up a term that might be spiking due to client behavior so keep watching those campaigns for any high potential terms.
These campaigns can end up generating low ACoS sales so don’t overlook them.
Prime Day 2021 will probably be another record-breaking event. There’s no second chance as this is such a short event so you need to ensure everything is aligned prior to the event.
Don’t be afraid making necessary adjustments during the event. We typically recommend waiting a few days after adjusting those bids but this is different considering the volume generated during the event.
There’s no shortcut to an amazing ACoS, but these strategies will help you identify inefficiencies and make the necessary adjustments.
Keep in mind that optimizing your ACoS is an ongoing process—consistent attention to detail is the best way to stay ahead of the competition.
Start your free trial of RevenueWize to see how you can improve your ACoS and become a better Amazon seller!