Prime Day 2021 is right around the corner. For brands, that means it’s time to develop a strategy to capitalize on Amazon’s largest traffic event of the year. Prime Day is a key driver to new customer acquisition and brand awareness for Amazon Sellers and Vendors.
We recommend a three-pronged approach to achieve success leading up to, during, and leading out of Prime Day.
- Prime Day lead-up (2-3 weeks prior): Promote your deals and brand to researching audiences.
- Prime Day (2-day event): Shift your focus to converting brand-aware audiences to purchase your products.
- Prime Day lead-out (2+ weeks post-event): Re-engage your audiences at scale.
The following is a comprehensive guide to help you develop your Prime Day strategy to get traffic to your listings and convert customers.
When is Prime Day 2021?
In 2020, Prime Day ran later than usual, October 13-14, due to inventory and distribution challenges resulting from the COVID-19 pandemic. In 2019 and earlier, Amazon historically hosted Prime Day in mid-July.
This year, however, we are anticipating Prime Day to fall earlier than normal, likely in late June. On Amazon’s Q1 2021 earnings call, CFO Brian Olsavsky, alluded to this shift in timing, “There are a number of factors, the Olympics, which are still out there this year. In fact, in many areas, July is a big vacation month. So, it might be better for customers, sellers and vendors to experiment with a different time period.” While no specific dates have been announced yet, we are planning for Prime Day to occur in late Q2.
Prime Day Advertising Strategies
Prime Day excels in bringing traffic to the Amazon marketplace, so creating a competitive and compelling presence should be a top priority for every brand. Advertising is key to driving awareness and capturing new-to-brand traffic throughout the Prime Day event and pre-and post- periods.
It’s important to understand that CPCs will go up during Prime Season due to existing advertisers increasing their budgets as well as many new advertisers participating. Expand your view away from the standard metrics to grow your customer base and focus on the long-term value of Prime customer loyalty. Consider increasing ad budgets, especially during the Prime Day event itself, to account for the increased traffic and mitigate the risk of hitting your budget limit early in the days. Amazon recommends an increase in budget by 4-5x.
We recommend staging advertising strategies in line with our three-pronged approach and pivoting throughout the event based on learnings.