Amazon Prime Day 2023: The Ultimate Guide for Sellers to Crush the Competition

Imagine this: It’s Amazon Prime Day, one of the most highly anticipated and profitable days of the year for your business. 

You’re eagerly waiting for the sales to roll in, and you know for a fact that your year-over-year growth is going to go through the roof!

This is the dream for most Amazon sellers. 

But sadly, it’s not always easy to achieve, especially when the e-commerce landscape constantly shifts in 2023. 

Amazon recently announced that Prime Day will be on Tuesday, July 11, and Wednesday, July 12, this year.

So, you still have time to prepare ahead for the event.

However, once Amazon announces the dates, things will start moving very quickly, and preparing for Prime Day will become overwhelming. 

So, we’ve prepared a checklist to help you get everything right on Prime Day in 2023 and maximize your chances of success. 

Let’s jump into it. 

Here is a quick peek into the article:

1. What is Amazon Prime Day?
2. How should Amazon sellers prepare for Prime Day 2023?
3. What to do during Prime Day 2023
4. What to do after Prime Day 2023
5. Final thoughts

What is Amazon Prime Day?

Amazon Prime Day is one of the biggest retail events on Amazon, both for shoppers and sellers.

First introduced in 2015 to commemorate Amazon’s 20th anniversary, Prime Day has evolved into an unparalleled sales event, surpassing Black Friday and Cyber Monday in terms of scale and impact. 

Initially started as a one-day retail exclusive shopping frenzy for Amazon Prime members, Prime Day has undergone a remarkable transformation, boasting better deals on a wide range of products every year.

It has led to skyrocketed sales for Amazon sellers and an influx of new Prime memberships on Amazon.

In 2022, Prime Day reached unprecedented heights, generating over $11.9 billion in revenue, with over 200 million items sold. 

Looking back at Amazon Prime Day 2022, it is evident that customers eagerly embraced the event. The average order value (AOV) during the shopping spree amounted to an impressive $52.26, exhibiting a remarkable 17% growth compared to 2021. 

Notably, 20% of Prime Day shoppers said they want to purchase high-priced items exclusively on sale.

However, as we look ahead to Amazon Prime Day 2023, it’s important to consider the current economic conditions. Factors like inflation and possible recession might affect consumer behavior, potentially impacting average order values. Shoppers at this time will likely look for value-for-money deals. 

So, sellers need to focus on catering to the shoppers’ desires with attractive discounts during Prime Day to make a profit.

Recommended read: How Much Does Prime Wardrobe Cost?

How should Amazon sellers prepare for Prime Day 2023?

Preparing for Amazon Prime Day is essential to take advantage of the increased customer traffic and boost sales. 

Here are some valuable tips to effectively prepare for it and make the most out of this event.

Start optimizing your product listings early

Optimizing your product listings is the first priority before Prime Day. It gives the opportunity to reach relevant customers more effectively and boost the conversion rate.

Here are some tips to implement to ensure product listings are optimized:

• Optimize title and bullet points: Craft compelling and detailed titles that accurately represent your product. Also, create engaging, benefit-driven bullet points to entice potential buyers.
• Add high-quality product images: Include high-resolution images that showcase your product from different angles. This helps customers get a clear understanding of what they can expect. Ensure to keep a clear background. 
• Incorporate high-converting and relevant keywords: Run a reverse ASIN search against your top 10 competitors and identify high-converting and high-volume keywords for your product. Strategically incorporate these keywords into your product listing to improve visibility and conversion in search results.

Learn in-depth about this SellerApp Keyword Research Walkthrough Guide.

• Add featured video and A+ content: Add a featured video on the product listing that highlights your product’s key features and benefits. Additionally, use A+ content to provide an enhanced customer experience to the shoppers.

• Conduct A/B testing: Experiment with different variations of your product listing in a control group and identity what generates the most CTR and conversion rate.

Choose your products wisely

To get the maximum conversion during prime days, ensure you pick the right products to advertise during that time. 

We highly recommend identifying the best-selling products in your portfolio to maximize ROI. It’s also a good idea to find trending products and see if you can capitalize on rising demand to increase sales momentum. 

To help you further, here is a checklist of characteristics to look for in an ideal product for Prime Day:

• Rating and Reviews: Aim for a product with a rating of 3.5 stars or higher and at least 50 reviews. Positive customer feedback and social proof are essential for attracting and gaining the trust of potential buyers.
• Optimized product listing: Ensure your product listing includes A+ content, branded video, and high-quality images. These additions provide a visually appealing and rich experience for shoppers, increasing the chances of conversions.
• Replenishability: Consider the inventory aspect of your chosen product. Select items that can be easily replenished to avoid running out of stock during the high-demand period of Prime Day. 

With these guidelines, you can carefully choose your products and position yourself for success on Prime Day.

Recommended read: What is the registration process for Walmart plus.

Analyze historical performance and sales trends

Understand sales patterns and trends from previous Prime Day events and other major sales events.

For example, let’s say you run an online electronics brand. Analyzing past performance may reveal that during previous Prime Day events, your best-selling products were smartphones and smart home devices. You also notice a significant increase in sales velocity during the early hours of Prime Day, indicating a surge in customer demand during that time.

Furthermore, after looking at customer preference data, you might discover that customers were particularly interested in products with advanced features, low pricing, and positive customer reviews. 

With this information, strategically optimize your inventory by ensuring an ample stock of high-demand items and adjusting prices to remain competitive with potential customers.

Moreover, you may identify different strategies that yielded maximum sales in the past. For instance, running time-limited flash sales or offering exclusive bundle deals could have driven a significant spike in sales in the past.

By recognizing these trends, you can fine-tune your marketing strategies for the upcoming Prime Day and capitalize on what has proven effective in the past.

Check your inventory levels and stock up

Running out of stock is the worst nightmare for any Amazon seller, especially during the holiday season. So, check your inventory level before Prime Day. Look at historical data to analyze how your top-selling products performed during previous major sales events, including last year’s Prime Day.

With this, you can make accurate predictions about the expected demand for Prime Day this year and stock up your inventory to meet the anticipated demand.

Build social proof with reviews

Getting customer reviews is crucial for building trust and credibility as an Amazon seller. Reviews show that real customers have tried and used your products, which helps potential buyers feel more confident in their purchasing decisions.

Before Prime Day, it’s important to focus on collecting more reviews for your products. Even if your product listing already has some reviews, customers often look for recent reviews to assess the product’s quality.

Having more customer reviews can also improve your product’s ranking and increase conversions. When shoppers see that a product has many positive reviews, it boosts their confidence and makes them more likely to buy it.

Create a buzz on social media with Influencers

Research has shown that 90% of marketers think influencer marketing is effective, and a further 61% of shoppers are likely to trust recommendations from friends, family, or influencers on social platforms.

These statistics clearly indicate that influencer marketing can be a valuable tool for creating brand awareness and generating sales. 

Recommended read: Types Of Data Available In Amazon Marketing Stream

Here’s how you can use influencers effectively:

• Find the right influencers: Look for influencers who align with your brand values and have an audience that matches your target market, and build a good relationship with them.
• Create engaging campaigns: Work with influencers to create content that resonates with their followers (who also should be your target audience) and promote your products. Lifestyle images and interesting content can capture the attention of your target audience and make them aware of the upcoming Prime Day discounts.
• Utilize the Amazon Influencer Program: Use the Amazon Influencer Program, which provides a platform to connect with a broad range of influencers who can promote products and amplify reach during Prime Day.
• Leverage social media platforms: Besides influencers, utilize other social media platforms like Instagram, Facebook, Tiktok, or Youtube to advertise your upcoming Prime Day deals to reach a large number of potential customers.

Recommended guide: The Role of Expertise in E-Commerce Social Proof

Set up your Amazon PPC campaigns beforehand

To make the most of your PPC campaigns during Prime Day, consider the following strategies to prepare for it:

Create both manual and automatic campaigns: Manual campaigns allow you to increase search visibility for keywords that drive a high return on investment (ROI). 

Set up automatic campaigns to discover new keywords with keyword harvesting, understand the latest keyword trends, and identify negative keywords that may not be relevant to your products.

Regularly review search terms report: Download and analyze the search terms report regularly. This report provides insights into which keywords are driving conversions, allowing you to optimize your PPC campaigns and improve overall performance.

Stand out with Sponsored Brands and Prospecting Display campaigns: To differentiate yourself from competitors before Prime Day, create Sponsored Brands campaigns that feature the products you want to highlight during the event. This builds awareness and plants a seed in the minds of your target audience ahead of time. 

Additionally, utilize Display campaigns, such as Sponsored Display and DSP, to reach customers both on and off Amazon, expanding your reach and capturing consumer attention.

Note: Allocate budget for brand awareness and prospecting: Devote approximately 60-70% of your budget leading up to Prime Day for brand awareness and prospecting campaigns. This approach fills the upper funnel and helps generate interest and anticipation among potential customers.

Plan campaign approvals in advance: Keep in mind that campaigns need to be approved before they go live. As Prime Day approaches, the approval process may slow down. Submit your campaigns for review at least a week in advance to avoid any last-minute issues.

With these strategies, you can optimize your Amazon PPC campaigns and effectively capture customers’ attention before Prime Day, maximizing your chances of success during the event.

Create Product Bundles

Your primary goal on Prime Day must be to boost sales by moving your inventory as much as possible. Besides, customers love bundles when they are effectively grouped to solve customers’ problems, making it convenient for them to buy. 

So, get creative and find ways to create product bundles that complement each other. It also saves money on shipping and packaging, and you can give that money back to your customer as a discount. 

It’s also an excellent way to increase the average order value. By offering convenient product bundles, you also save customers browsing time and provide them with a one-click solution for their needs. 

This added convenience can encourage customers to spend more and improves your bottom line.

Recommended Guide: Why is Amazon order management so important?

Use Deals and Discounts

Amazon Prime Day deals, and discounts are an excellent way to boost sales. While they can run for a short period, they can significantly increase sales momentum and overall profits. 

Here are some strategies to utilize deals and discounts:

• Submit deals for multiple products: Submit deals for multiple products with competitive prices early on. Keep in mind that Amazon receives a flood of deals during Prime Day, and it might choose only a few submissions. So make sure you do enough research and give your best out there.
• Create a solid promotional offer: Offer your best deal during Amazon Prime Day to entice customers to choose your product. However, also ensure that your offer is profitable and sustainable for your business. A good rule of thumb is to stay below 30% off, as going higher than that may eat away from your profit margin. However, you can go higher if you plan to liquidate the aged inventory.
• Run promotions the entire week: Prime Day is not just a two-day event but a week-long shopping frenzy. Many buyers start browsing and comparing products before the actual event, and some may miss the deadline or look for more deals after the event. Therefore, run promotions the entire week to capture more traffic and sales opportunities. 

You can easily generate more sales and conversions during Prime Day by utilizing deals and discounts. 

Create an Amazon Store subcategory page for Prime Day

If you already have an Amazon Storefront, plan to create a dedicated Prime Day subcategory. It can serve as your landing page for all Prime Day deals and discounts. 

You can redirect shoppers to this landing page with the PPC ads, make it easier for shoppers to find and browse your deals, and improves the conversion rate.

Use Amazon Posts to create buzz

Amazon Posts is a relatively new tool that allows sellers to create social media-style content on Amazon to enhance product discovery, brand visibility, and customer engagement. 

These posts appear on product detail pages, feeds, and related product sections, giving your product multiple touchpoints to attract potential customers. This helps the products stay top-of-mind to consumers’ minds during Prime Day and increases the conversion rate. 

Note: We recommend featuring the top-performing products on Amazon posts to stir up buzz and awareness of your products. 

Learn more about it from the Amazon Posts detailed guide. 

A/B test

In the days and weeks leading up to Prime Day 2023, conduct multiple A/B tests on your product listing and A+ content to optimize the best way to present your products to the shoppers. 

Similarly, test your Sponsored Brand ads and Display Ads with different featured images, layouts, and headlines. 

Testing all these variations will help you fine-tune your ad strategy and maximize profit during Prime Day.

Recommended Read: Differences between Amazon Sponsored Display Ads vs DSP Ads.

Set up Amazon Direct Fulfillment

If you’re a vendor registered on Amazon, one of the best ways to make the most of Prime Day 2023 is to opt for Amazon Direct Fulfillment. This program allows vendors to seamlessly share real-time inventory information with Amazon using electronic data interchange (EDI). 

With Direct Fulfillment as a backup to Amazon FBA, you can ensure that you never miss on sales, even if the Amazon warehouse runs out of stock. 

Here are some benefits you get with Direct Fulfillment during Prime Day:

• Your product gets a badge as “Ships and Sold by Amazon,” which improves the conversion rate. 
• You can make your entire catalog available to customers. 
• You won’t have out-of-stock issues, as Amazon can pull inventory directly from EDI.
• Amazon will handle all your product’s customer service, returns, and refunds.

Pro tip: Make sure to set up Amazon Direct Fulfillment before Prime Day and in Q4 to take advantage of this feature. 

Now that you know what you need to do before Prime Day, let’s talk about what to do during the big day. 

What to do during Prime Day 2023

Now that the big day has arrived, it’s time to put your well-crafted strategy into action and make the most of this momentous event. 

During Prime Day, allocate a significant portion of your budget to Sponsored Products, Sponsored Displays, and Product-Targeted ads, as these can generate high conversion during this time.

Utilize branded and generic short-tail keywords to reach a broader range of shoppers using Sponsored Product ads. Additionally, use Sponsored Display and DSP ads to retarget shoppers who have already shown interest in your products on and off Amazon. 

By combining different types of ads, you can capture the attention of different audiences and maximize your chances of driving sales on Prime Day 2023.

Note: Other marketplaces like eBay, Target, and Walmart also capitalize on Amazon Prime Day by offering different promotions during the same time to attract non-prime customers.

Take advantage of this by selling products on other marketplaces during the Prime Day timeline to maximize sales and your business’s bottom line. 

What to do after Amazon Prime Day 2023

Prime Day may be over, but the work doesn’t stop there. 

In fact, this is the perfect time to leverage the valuable sales data you’ve gathered and gain insights into your customers’ preferences and behaviors. 

Take a moment to reevaluate and analyze the following:

• What were your best-selling products during Prime Day?
• Who was your primary customer demographic?
• Were there any trends you’ve seen in customer habits?

Understanding all these will help you create successful post-Prime Day strategies. 

This phase is called the lead-out phase, where customers are still warm, and you have the perfect opportunity to re-engage your audience and drive further sales. 

In fact, the two weeks following Prime Day often see higher category search volume than the two weeks prior.

So, during this period, focus on reselling, upselling, and cross-selling your products to your existing customer base. 

Use Sponsored Display Ads to target those who have already purchased from you, offering them complementary or upgraded options. This helps foster customer loyalty and maximize the value of each transaction. 

Simultaneously, retarget shoppers who showed interest but didn’t make a purchase during Prime Day, providing them with an enticing offer.

With the competition likely decreasing after Prime Day, it’s an opportunity to fine-tune your advertising strategy, engage your audience and capitalize on the post-Prime Day shopping frenzy to drive further sales. 

Final Thoughts

Effective research and planning are only half the battle. You still have to execute the strategies smartly to maximize the chances of success. With Prime Day right around the corner, by following the strategies outlined in this blog, you can position your business to make the most of this event. 

However, to truly elevate your Amazon Prime Day strategy and ensure maximum profit, you must leverage solutions like SellerApp. 

SellerApp offers a comprehensive suite designed specifically for Amazon sellers. With SellerApp, you can streamline your Prime Day preparations by optimizing your pricing and listings, ensuring that you are competitively positioned in the market. 

With data-driven insights, you can make informed decisions about product selection, target the right audience, and automate your PPC campaigns.

Get started with SellerApp for free now and make this Prime Day your most successful one yet. 

Additional read:

What is Amazon Premium A+ content?

How do I Start Selling on Amazon in 2023?

Differences between Amazon Sponsored Display Ads vs DSP Ads

What is The Amazon Emerald Program?

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