Winning Prime Day: A Smart Seller's Guide to Sustainable Success

Prime Day can feel like a make-or-break event, and that puts a lot of pressure on FBA sellers. However, the right Prime Day strategy can not only set the pace for your quarter, it can also help ease the stress and position your brand for an extended sales bump.

Preparing for Prime Day starts well before the event, but those preparations don't just impact your Prime Day sales. Our key points for winning on Prime Day will help you define your long-term strategies and sustainably build your brand. 

Read on to learn how to use Prime Day to unlock more than just a few days of strong sales.

Priming Your Inventory for Success

It pays to be proactive. That rule applies all the more with a major event such as Prime Day. Anything you want customers to be able to purchase on Prime Day needs to be in Amazon's hands at least 30 days ahead of time. All FBA sellers are trying to get their stock ready heading into Prime Day, so expect that Amazon will take longer than normal to process additional inventory.

Proactive inventory management is not just for Prime Day either. A proactive inventory strategy predicts what you need in stock beforehand, and Prime Day is a great time to start. Looking back at data from past Prime Days is a good place to start when trying to determine how much product to order. You can also look at 2023 data on top-selling products on the platform during Prime Day. 

Pricing for Prime Day Profit and Sales

You need to get a head start with pricing by setting your Prime Day product prices at least 30 days out. That includes ensuring you meet the 20% discount requirement for Prime Day. That doesn’t mean that you should just discount everything by 20% and call it a day though. 

A tiered approach can offer a steeper discount to drive traffic. And don't forget about Lightning Deals. However, you must still consider margins, recent sales, and the likelihood of taking a big loss when picking a loss leader or offering a larger discount. 

Prime Your Advertising

Start with your existing ad campaigns and examine how they play into your Prime Day advertising strategy. Remember that there will be more competition heading into Prime Day and adjust your bids accordingly to maintain exposure. Use metrics such as past keyword performance to pick the best campaigns to emphasize.

Don't be afraid to experiment a little. Prime Day is an opportunity to expand your audience and capture consumers outside of your usual brand followers. As a result, the Prime Day traffic surge can offer a great opportunity to discover whether different formats or approaches have potential. 

Taking the Omnichannel Approach

Don't forget to line up social media promos ahead of Prime Day. You can also use your direct-to-consumer (DTC) website to direct traffic to your Amazon storefront. Make sure your brand loyalists know about your discounts. They are likely already heading to Amazon on Prime Day, so make sure they visit your listings first.

Buyer Personas: Understanding the Customer Journey

The customer journey is a core part of every point discussed so far. What you stock, what you discount, how you advertise, and what you say to your loyal customers all come down to data-based buyer personas.

Start with your existing customers. You should have plenty of data offering clues about what attracts them to your products. Your social media engagement should also give you insights into your most loyal customers. Similarly, product reviews show you how your products are used and who buys them, such as whether they are typically bought by the end-user or purchased as gifts. Even the keywords that catch consumers' eyes will tell you something about who you need to reach. 

Prime Day is also about growing your base. Look at past Prime Day successes in sales data, reviews, and social media. What ads and discounts really hit during previous years? Are you seeing a trend — such as gift purchases — during Prime Day that differs from your normal sales? 

Don't just look at the successes either. Consider the potential missed opportunities. Prime Day is an opportunity to try new things with a larger audience. Look for approaches to advertising, discounts, and promotions you haven't tried before. Start with things that may be similar to what already works, and expand out from there.

Analyze, Iterate, Win: Prime Day as a Growth Engine

Prime day can feel like a Marathon with a mad sprint at the finish line, but it doesn't have to. The strategies and approaches that prepare you for Prime Day can be the starting point for year-round success. With Mayan, you can prepare like never before. Our insights from MIT data scientists and account managers who have been in your shoes will let you nail perfectly optimized PPC campaigns with leading ad automation tools. Sign up today to discover how we can help you focus your energy where it is needed most.

If you haven’t already be sure to download our Supreme Prime Day 2024 Cheat Sheet for Amazon Sellers.