The ecommerce space is brimming with Prime Day tips and strategies promising to boost your sales. Some are effective, some need tweaking.
And because we all share a common goal—maximizing Prime Day sales—we’re adding more must-dos for today. Except we’d want to start by sharing what you mustn’t do.
- Common Prime Day mistakes and their solutions 💡
- Easy, foolproof way to create marketing copy 👍
- The Prime Day strategy you didn’t think you need 🎩
- Best defense against violations and complaints 🛡️
BIG IDEA
Everyone is already on the edge of their seats as Prime Day grows near. Customers are gearing up for their purchases, and sellers are juggling time to perfect their offers.
That's why it's a shame when avoidable mistakes happen. Not only do they spoil the mood, but they also flush all your hard work down the drain, burning your bottom line!
✍️ To help you avoid potentially costly issues, Eva identified 5 common Prime Day pitfalls and how to dodge them.
- Inadequate inventory management. Running out of stock during Prime Day risks lost sales and disappoints customers. On the other hand, overstocking ties up capital and raises storage costs if items don't sell fast enough.
- How to avoid this: Leverage AI-powered inventory management tools. Some have automatic reordering features to ensure you always have the right products in stock. 🔄
- Poor pricing strategies. Profitability hinges on setting the right prices. Pricing too low can attract customers but may erode profit margins, while overpricing risks losing customers to competitors offering better deals.
- How to avoid this: Monitor market conditions, competitor pricing, and demand trends. This ensures you're striking the balance between staying competitive and maximizing revenue.
- Ineffective advertising campaigns. A surefire way to miss out on capitalizing on Prime Day traffic is having poorly targeted ads and uninspiring content.
- How to avoid this: Create compelling ad creatives and use data-driven insights. This includes precise keyword targeting, bid optimization strategies, and real-time performance monitoring.
- Neglecting customer feedback. Doing this can impede your ability to enhance product offerings and meet customer expectations, particularly negative ones.
- How to avoid this: Stay proactive with reviews. If time is tight, invest in review management tools to allow real-time review monitoring, prompt response to concerns, and automated requests for positive reviews.
- Not optimizing product listings. Poorly optimized listings risk poor search result rankings. This oversight not only jeopardizes sales during Prime Day but also weakens your brand’s long-term visibility and competitiveness.
- How to avoid this: Improve keyword relevance, optimize product images, and create compelling descriptions.
⚙️ Keep calm and gear up for Prime Day 2024
In addition to avoiding these common mistakes, check if there are areas you need to get ready for the sales event—now's the time to do it! Just remember to keep yourself calm to not make hasty decisions.
TOGETHER WITH STORI AI
An easy, foolproof way to create high-converting marketing copy
You probably have a lot of products to sell and even more things to do.
But do you know you might be missing out on marketing your products? These situations might be familiar to you:
- You have dozens (or hundreds) of products to offer and sell;
- You have to prepare the content (posts, images, blogs, etc) and schedule them;
- Doing all this takes a lot in terms of time, money, and/or people–resources that you may not have at the moment; and,
- You’re probably still not using AI tools
We have a solution for you!
STORI AI does it all so you don’t have to do it yourself. Within minutes you can:
✅ Create a brand (for consistent communication style and tone)
✅ Generate and edit content (images, text, etc)
✅ Automatically convert product shots into posters
✅ Publish and schedule it on (almost) every social channel
It’s better to experience all of this to yourself. Try STORI for FREE by clicking on the link below.
BITES OF THE WEEK
- Way of the Prime: Here are 8 ways Amazon makes Prime Day shopping easier than ever.
- Shopping Don’ts: Teach your customers to be smart shoppers and avoid these buying mistakes during Prime Day.
- Brand Bloopers: See what you can learn from other brands' mistakes.
CASH CORNER
The strategy you didn’t know you need for Prime Day
Amazon hosts millions of sellers, each competing fiercely for customer attention. During highly anticipated events like Prime Day, this competition reaches a fever pitch.
So, how do the top sellers thrive during these peak sales periods?
Repricer.com believes it’s through repricing! Here’s what you need to know about it and why it’s indispensable in your ecommerce business.
💲 What's a repricer?
A repricer tool automates the adjustment of product prices based on real-time market data. It can help you monitor competitor pricing, demand trends, and other metrics to:
- Optimize your prices to maximize profitability; and
- Dynamically adjust to fluctuations in sales velocity, inventory levels, and external factors like promotions.
Intrigued? Here's how a repricer software can turbocharge your sales strategy:
- Net margin repricer. This feature allows you to set minimum and maximum prices based on selling costs, including Amazon fees. It automates calculations to help you maximize your profit margins. 📈
- Sales rules. Tailor your pricing strategy to match sales speed and competition. For example, raise prices automatically during peak demand to boost profits, then lower them after the rush.
- Buy Box optimizer. By using smart algorithms to tweak pricing, fulfillment, and inventory, this feature boosts your chances of securing the Buy Box, which drives 85% of Amazon's sales.
- Price war manager. This tool spots competitor price changes in real-time, letting you adjust your prices smartly without starting price wars that hurt your profits.
- Real-time profitability analysis. It tracks key metrics, giving you clear insights into product performance, sales trends, and how well your repricing strategies are working.
Ready to dominate?
This Prime Day, let technology handle the heavy lifting so you can focus on what matters—scaling your success.
Who knows? Maybe this year, you'll make it onto the list of Prime Day's top sellers. 🫵
ACTIONABLE ADVICE
How to defend your brand from listing violations and complaints
Prime Day is both a blessing and a potential minefield for sellers. Yes, it offers massive sales opportunities and boosts brand visibility. But, it also brings heightened risks of listing violations and quality complaints. 🚩
JungleScout listed the most effective ways to navigate these challenges:
- Prepare for the unexpected. Keep your listings in top shape and resolve complaints promptly for a healthy account status.
- Stay proactive. Have a plan in place to swiftly address any ASIN changes or takedowns. Being proactive not only protects your sales but also deters competitors from targeting your listings. ⚔️
- Monitor and defend your listings. Use monitoring tools to promptly detect and respond to unauthorized changes or abusive contributions promptly. Act fast to prevent ASIN restrictions or sales rank drops caused by hijackers or policy violations.
- Anticipate anti-competitive tactics. Be prepared to counter fake reviews or safety complaints swiftly to avoid automated listing suspensions.
🎒 Have your own back
Although Amazon prides itself on customer support, its attention during peak times like Prime Day may not be as sharp. Hence, you should be ready to support your business when you need it most.
After all, careful preparation and vigilance are still the main keys to avoiding setbacks.
