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Amazon Prime Day 2021 Panel - Recording

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Prime Day 2020 was a record-breaking event with more than 1 million deals globally 💰 and Prime Day 2021 may be even bigger 🔥. This year, more than ever, is a crucial time to get in front of new customers in the competitive ecommerce market 🛒.

From an end-to-end channel management approach, learn about what you should do before, during, and after Prime Day to maximize sales and make this your most successful Prime Day yet. Are you Prime Day ready? 🎉

Watch the replay right here or read the transcript below:

WBR_ Amazon Prime Day 2021 Panel_play

Transcript

Kerry Mallett: 

Hello, hello everyone and welcome to our 2021 Prime Day Panel. We have a really awesome panel of experts here today to chat all things Prime Day. And so we're really excited to get into it. So that being said, let's first hop into some logistics. The first is that the recording and slides will be sent out tomorrow. And so if you had a colleague who wasn't able to tune in or if you can't stay the whole time, no worries. That'll all be sent out tomorrow. Also, if you do have to log off during the session you can log back again, using the same link. Also, we have some resources loaded in the handout section, so be sure to download those. There's some reports and really important insights there. Also, we will have a live Q & A with our panel, at the end, after their discussion. And so make sure to get your questions in for our Q & A so that we can keep them up to be answered. We'll also have some poll questions during the session, so make sure to respond to those. And I want to introduce myself, my name is Kerry Mallett, I'm the webinar at Tinuiti and I'll be hosting today's session. So first a little bit about Tinuiti. With over $2 billion in digital media under management and over 700 employees, Tinuiti is the largest independent performance marketing firm across what we call the Triopoly. Google, Facebook, and Amazon. We also offer many other service lines such as Walmart advertising, Instacart advertising, email marketing services, paid social media, and paid search. At Tinuiti we understand that success requires both strategy and channel specialization. That approach wins us awards and recognition across the industry, such as the American Business DD awards, and the Shorty awards, and allows us to grow some amazing clients like those that you see here. So I will now turn it over to our panelists to introduce themselves, so Meghan, take it away.

Meghan O’Keefe:

Thanks Kerry. Thanks everyone for joining us today. My name is Meghan O'Keefe, I have the pleasure of moderating today's webinar. I'm one of the senior managers on the marketplaces team at Tinuiti. I manage some account managers and team strategists who work across a variety of sellers and help them deliver best in class Amazon advertising strategy. I'm happy to be joined today by these panelists and I'll pass it over to my colleague, Ben, to do an introduction.

Ben Gemkow:

Thanks Meghan. I'm Ben Gemkow. I'm actually one of the team strategists that Meghan manages over here at Tinuiti. I'll be speaking about some fun Prime Day stuff on behalf of Tinuiti. I'm happy to be here. I'll pass it to Chad.

Chad Rubin: 

Hi everybody, Chad Rubin, co-founder of Skubana, before Skubana, and still currently run a e-commerce business called Think Crucial where we manufacture and sell home appliance parts. Also was on the Board of Prosper show before we were acquired. Excited to be here and give people actionable tips during Prime Day.

Colleen Quattlebaum: 

And I'm Colleen Quattlebaum and I'm a marketing manager of eComEngine, so I've been in the e-commerce field for about 10 years now. And our most, probably common tool that people have heard of is Feedback Five and we also have a few other tools, Restock Pro and Market Scout to help Amazon sellers automate certain parts of their business. And last but not least, Prateek.

Prateek Haralalka:

Hey guys, I'm super thrilled to be here today. You know, a big thank you to all of the attendees who are tuning in and now I'm Prat, customer success manager at DataHawk, we're an e-commerce business management platform, headquartered in Paris. I manage the company's key accounts. Meghan, I'm really bad at giving short and simple answers. So if I start to go overboard, just stop me. Keep me on track.

Meghan O’Keefe:

You got it. Yeah.

Kerry Mallett: 

Well, we're really excited to have you all. Thank you again for joining. So before we jump into our panel discussion, I want to kick things off with a poll. So you want to hear from our audience what would you say are your priorities heading into Prime Day? And you can select as many that apply to you. So are your priorities getting visibility to new customers with advertising, increasing trust on your products with positive reviews, optimizing your SEO to increase organic visibility, or perhaps ensuring fulfillment methods are optimized. So I'll give everyone a minute or two to get their responses in. And again, it is a select all, so if you have multiple priorities you can feel free to let us know. All right, and we will close the poll and take a quick look at results. So overwhelmingly everyone wants to gain visibility to new customers with advertising, makes sense just based on the nature of Prime Day. And then also really solid across the board of optimizing SEO, increasing trust, and ensuring fulfillment methods are optimized. So we will definitely be getting into all of these with our panel. So I will now go off screen and allow Meghan to take it over as our moderator.

Meghan O’Keefe:

Thanks, Kerry. Great, so I think the burning question right now from our audience is when is Prime Day going to be? And while we still don't have an official date, I think the industry is leaning towards the end of June. So with that, we could be less than a month away. We're past some of the key deadlines as far as Prime Day goes for submitting lightning deals and prime member promotions. We have the coupon deadline submission tomorrow, May 28th. The FBA inventory cutoff date is coming up for sellers. So we know that Prime Day impacts every part of your business, visibility, reviews, fulfillment. And hopefully by the end of today you'll have a better understanding of how you can be perfectly aligned going into Prime Day. So let's get started with before, as we head into Prime Day, we know there's gonna be a significant increase in browsing that's once the dates are announced. So Colleen first question for you, while we're still a few weeks out from Prime Day, what should sellers be doing now to prepare for Prime Day?

Colleen Quattlebaum:

All right. Good question. So there is still time to make an impact. Take a look at your listings, make sure that they're optimized, make sure that your images highlight how awesome your products are. Even take a look at your listings on a mobile device and see how they look there. See if there's anything you can do to improve that buyer shopping experience, to clarify things. Take a look at questions that are on your listing, answer any of those customer questions to clarify those. And if you're a seller enrolled in Amazon's brand registry program, make sure your A-plus content also includes detailed product descriptions and great images. All of these details will certainly just help make it more powerful and really sell your products when the consumer comes across your page. And it will also help to reduce any potential for negative reviews if your description is not clear or if questions are not clear to the customer when they're purchasing that item then it could lead to a negative review. So, and speaking of reviews also make sure that you're asking for reviews now on products that you're selling now, so that in the next few weeks, you'll receive more reviews and have very fresh recent reviews on Prime Day.

Meghan O’Keefe:

Great, thanks Colleen. Anything additional to add there from the other panelists as we head into the holiday?

Prateek Haralalka:

I don't know if you mentioned this Colleen, but maybe it's gonna potentially reduce the number of returns as well. 'Cause if you have the right listings, all the information that's gonna... Maybe you touched on that, I don't remember.

Colleen Quattlebaum:

Right. Good point.

Meghan O’Keefe:

Yeah, and Prat, next question for you, for any seller how important is SEO for a successful Prime Day? I know Colleen talked a lot about optimizing listings and making sure that it was optimized on mobile as well, A-plus content, but how important is that SEO for a successful Prime Day? And can you mention any specific steps sellers can take to improve their organic visibility ahead of the holiday?

Prateek Haralalka:

Yeah, absolutely. Good question there. Look, brass tacks, you're gonna sell only if you're visible. If you're not visible, you're not going to sell, right. And in one way to get visibility is by way of running ads. But ads cost money and they cost a whole lot more on Prime Day. Like CPC bids at 80% higher. And because it's Prime Day, you're already running promotions and deals and things like that. As a result, your margins already pretty squeezed. And look not to mention, in search results on Amazon there's between like 12 to 16 sponsored slots. I'm talking about sponsored product ads, not display and brand ads. And there's 48 organic results. Meaning three to four X more visibility organically. So when you factor in both of these things that you don't incur that incremental cost that comes with advertising and there's three to four X more visibility organically, SEO just becomes a no brainer. You know what I mean? It's just that much more compelling. In terms of steps, I'm gonna sound a little bit corny here but I like to think of it in terms of, the art element and the science element. The art element is the sugar and spice and everything nice, the images and the A-plus content that Colleen talked about. And there's so much more available on that online. And Colleen mentioned that I'm not gonna touch on that. Let's talk about the science element, and when I say science, I'm referring to keywords. I call it a science because it requires analysis and research and optimization, continual optimization. Because the first question you wanna answer is which are the relevant search terms for my products? You wanna find these search terms either through brand analytics or search terms reports, through keyword research tools, things like that. And then you wanna do analysis. You wanna figure out how your products are ranking for those search terms. The first question is, are the ranking, and then which of the products are ranking, and then where are they ranking? Are they ranking on page one or pages two, three, four, and five? And if on page one, where on that page? Top of the page, bottom of the page, middle of the page? Because products on Amazon, they follow something called a Zipf's Law, meaning the number one product gets X number of clicks, the number two ranked product gets half of the number one guy and so on... The number three guy one third. So yeah you gotta establish the baseline and the brass tacks, what's the goal of SEO optimization? Essentially show up high, organically in search results. If you remember Zuckerberg had said, don't be too proud to copy. And if Zuckerberg is not above copying, I think you and I can do that. So instead of reinventing the wheel, look at the guys which are already showing up organically high in search results and look at their tactics. Which keywords are they using? How many times and where? Emulate to them.

Meghan O’Keefe:

Got it.

Chad Rubin: 

I'm going to piggyback on that for a sec. So Amazon launched a sponsored product impression share report, it's in beta, in seller central. And I think everybody who's going to Prime Day should be taking a look at it because you can understand the market size and where you're maybe not serving the market and getting further penetration. And so for me, I'm looking at that report, I'm thinking about, okay I don't know if I necessarily want to increase my bids but maybe I want to increase my budget. And for specific strategic products, I wanna increase my bids because I have more margin to play with. And so I think that's a great nugget for those that are listening right now.

Prateek Haralalka:

Good point.

Meghan O’Keefe:

Yeah, I definitely agree with that. Utilizing all of the reports available to you and impression share is definitely a newer one, but very good call out Chad, in regards to that report. So while we're on the topic of advertising and impression share, Ben, how should you best prepare for Prime Day with your advertising efforts?

Ben Gemkow:

Yeah, so there's a million ways you can, but some of my personal important notes are first, foremost, making sure you have enough inventory for your promoted products and your best sellers ahead of time. Whether you have promotions or not, making sure you have inventory is perfect. You don't want to go out of stock on Prime Day, that's worst case scenario. I guess it's a good thing cause you're selling out, but you want to have enough to keep going throughout the two Prime Day days. Second of all, understand what your historical performance is over the previous Prime Days. If you notice that maybe you're not the best player in a certain category from previous experience, that's a really good indicator that maybe you should maybe look to a different category to perform. Just understanding your historical performance is super important. If you don't have historical performance, just be ready to be competitive, just increase your keyword bids, increase your campaign budgets, just make sure you're competitive. You're ready to be competitive and just get yourself out there. And really that's the main goal for all brands who have promotions or who don't, just be ready to be competitive. Another one is throughout the day, make sure that you're like checking on your campaigns, making sure none of your campaigns are capped by budget. That's another bad thing to happen on Prime Day. A lot of times what I'll do is I'll increase my campaign budget caps by like 50%. Throughout the day, I'll be checking maybe three, four, five times just to make sure that all of my campaign budgets are still available and running. If you get capped on budget, you're not gonna serve. So that's the last thing you want. So those are a few things how I think people could be best prepared at a very high level.

Meghan O’Keefe:

Got it and then in regards to inventory, I know Ben mentioned that going out of stock is going to be detrimental to your Prime Day experience. Chad, do you have anything to add there in regards to what is the most critical priorities of inventory management going into Prime Day and why is running out of stock so detrimental on Amazon?

Chad Rubin: 

Well, first I think having inventory is just like table states right now. I know on the vendor central side I think the cutoff was May 20th, I think for purchase orders. And then for sellers, I believe that cutoff is May 31st.

Meghan O’Keefe:

Yeah.

Chad Rubin: 

So I think that should be of utmost priority. Make sure you were fully stocked. The whole thing about Prime Day for me is about buying the buyer. You wanna make sure you have a enough stock to support all the new eyeballs that your listing could be getting impression share on. If you're not FBA are just not relevant, really. And so to make sure that you're properly stocked, I think going back and looking at historicals is important. There's rumors that there's going to be actually two Prime Days this year. There was one that was announced in the quarterly call of the second quarter and then one that's announced I think in October that'll conflict maybe with like Black Friday, Cyber Monday. But anyway, I think just having enough product that's there to support the amount of eyeballs that are gonna happen. And a lot of people just window shop a week leading to Prime Day and then pull the trigger. The implications is that you're not relevant and essentially you're going to lose share to competitors and they can essentially decrease their BSR, their best seller rank, and they can get higher prioritization in the search engine framework.

Meghan O’Keefe:

Got it. Yeah. So really good conversation guys heading into Prime Day. What I'm hearing is content is gonna be really important heading into Prime Day, making sure your content is optimized, looking at historical data and competitive data, using the impression share report to understand where you are as far as impression share heading into the holiday, and then having enough inventory and paying attention to those inventory cutoff dates. As Chad mentioned, there's gonna be a lot of window shopping happening. And if you're not appearing, you're not relevant. Well, I think we covered a lot of heading into Prime Day, but obviously the two days of Prime Day are very important as well. So during Prime Day we're gonna see that increase in traffic. We're gonna see those conversions happening. Is there anything, Chad, sellers can do to optimize their fulfillment during that time? And how will the new rules of seller fulfilled Prime Delivery affect seller's shipping times?

Chad Rubin: 

I'll approach the new seller fulfilled Prime rules. They're pretty hard and they're kind of harsh. I don't know many sellers that are going to want to have employees working 'cause now they change it from business days to calendar days to ship. And essentially that means that you guys are likely gonna need to have people over working the weekends if you get an order say that comes in on a Friday late afternoon. And so they've changed it from... Also you can't be regional any longer from what I understand. So, but Amazon's just is changing the rule book yet again, and making it more difficult and making it for only the strong to survive. And you need to make sure that if you're doing seller fulfilled Prime that you're abiding by the new rules. And if you're trying to get SFP now, I don't think you can. I think it's closed for now, but that's as far as I know, what I know about the SFP program. Anybody else have anything else to share?

Meghan O’Keefe:

Yeah. I think you're on track there. I think it is closed right now. So in addition to just the fulfillment methods, obviously monitoring campaigns, Ben, you said it's gonna be crucial. Advertising is driving that consideration and sales. So, Prat, can you talk a little bit more about advertising during the Prime Day holiday?

Prateek Haralalka:

Yeah, absolutely. We have customers who've connected their advertising accounts to DataHawk, so we were looking at last year's actual ad spend data and we noticed that ad spend on Prime Day or Prime Days went up by 150%. And you must be thinking, okay if ad spend's 150% higher, it basically means that the number of sponsored slots is the same right, so everyone's gunning for the same slots. That means, A-cost is gonna be high, but here's the silver lining, so we looked at sponsored product ads data and A-cost was actually 10% lower. Why? Because conversions went up. Conversion rates were 17% higher. So sponsored product ads is a good place to put your money on Prime Day. And then also in fact, sponsored display is better, because for sponsored display, the A-cost went down 40%. So another good place to put your money in. And I think somebody mentioned that... I think it was Chad, that on Prime Day, a lot of shoppers, they just browsing Amazon. They're nowhere near the bottom of the funnel and they have no purchase intent. They're just browsing in they're searching with search terms like best deals on Amazon and things like that to maybe take words like best deals and Amazon and product and put them in negative targeting. 'Cause you don't wanna be wasting your ad dollars on those search terms. Because they're just browsing. Secondly, I would recommend that maybe take some of the terms that are doing well for you through your search terms reports, and you're distinct campaigns, and start running exact match campaigns, if you've got a budget constraint. Another data point we looked at was between day five and day three proceeding Prime Day, brands and sellers, the both of them, they reduced the ad spend significantly. Meaning less demand for sponsored slots. If there's less demand, it means CPC is gonna be low. So if you don't have stellar organic visibility, that might be a good time for you to engage in advertising because CPC bids are gonna be low so you're gonna be paying less for that visibility and boost your organic visibility, 'cause as you probably know, there's a strong link between advertising and boosting organic visibility.

Meghan O’Keefe:

Got it. Yeah. I definitely agree with all of those pieces, like ad spends 150% higher, jeez. And then we know Amazon had said Prime Day 2020 was a record breaking event with I think $3.5 billion in sales. So a lot of shoppers gonna be coming, a lot of eyes. So definitely thinking of that negative targeting as well. Don't want to be wasting dollars on such broad terms like best deals on Amazon and et cetera. Ben, do you have anything additional to add in regards to the advertising piece? Do you think we'll see a lot of video and sponsored brands during Prime Day? How important are those ad units going to be during the holiday?

Ben Gemkow:

100% I think Prat said it perfectly. I couldn't agree more. But yeah one thing to add is sponsored brand video and sponsored brand custom image, for sure. Both of those two types of sponsored brands are gonna be vital to winning real estate, as well as drawing in attention. Sponsored brands are great, but if you can add that element of video or if you can add that element of custom image, that really attracts the customer's eye, especially if they're on mobile. Depending on your brand, you may have like 80% of your customer base may be mobile. That's also something to look into, make sure you figure out what your splits are, desktop versus mobile. If you have a huge percent on mobile, then it's gonna be vital for you to use sponsored brand video and sponsored brand custom image. 'Cause those just eat up like the whole screen. So those are definitely huge plays here.

Meghan O’Keefe:

Yeah. Could you add anything additional? And this is for anybody about how important Amazon stores are as well heading into Prime Day?

Prateek Haralalka:

I could touch a little bit on that, maybe, 'cause if you're engaging in off Amazon advertising, because the a9 algorithm or the next iteration of that is the a10, it sort of rewards you for bringing in off Amazon traffic. So if you're, let's say advertising off Amazon and if you've got like a stellar brand store, instead of maybe redirecting people to your exact pages, like product pages, you can redirect them to your Amazon store on Amazon. So maybe that's something you can try.

Chad Rubin:

Yeah, so if you're gonna run a headline ad and you drive it to your storefront, I would suggest changing the banner on your storefront to be like, whatever Prime Day hottest deals. This way, it's just like very specific to Prime Day. And you can just get people interested in the deals that you're running.

Ben Gemkow: 

Another way you could do that is you can just set up a page, I believe, like one of your tabs on your store and just have it specifically dedicated to Prime Day deals and then have that be the landing page, because for most sponsored brands you can pick which landing page you want. That's the page that I would lead to.

Meghan O’Keefe:

Yeah, I think you mentioned something important too, Prat, is not just focusing on driving traffic on Amazon, but the off Amazon traffic as well and using Amazon attribution to drive customers back to your page is gonna be super important. So as you are thinking about those other channels where you have audiences, can you drive them back to your Amazon store during the Prime Day holiday? Great, well, I think we've touched on before Prime Day, we touched on during Prime Day, we're going to see ad spend increase, making sure that you are monitoring your campaigns throughout the day when it comes to advertising, focusing on exact match campaigns, negative keywords, making sure your Amazon store is set up to deliver that customer experience where they can see your deals that you have running. Heading into a conversation now, post Prime Day, how do sellers sustain that engagement with shoppers after Prime Day? And Colleen I'm gonna point this next question at you. What impact does Prime Day have on reviews and what is the most effective way to request reviews?

Colleen Quattlebaum:

Yeah, good question. And I think you're exactly right, that everybody, sellers need to be prepared to keep that momentum going long after Prime Day and set yourself up for success in Q4. So the sales that you're making on Prime Day and making sure that you have enough inventory post Prime Day, so when word gets out that somebody bought some new air fryer and how awesome it is and their neighbors want to buy it, that you still have some in stock for other people to buy. But when it comes to reviews, you only have 30 days to request reviews from the date that the order is delivered. And so that's not a very long window. While, yes, buyers can leave a review at any time, you can only request a review as a seller in that first 30 days post it being delivered. So make sure that you have a strategy in place that you're requesting reviews. Nearly 80% of reviews are left after a shopper receives an email asking for a review. And just the increase in Prime Day orders is a great opportunity for you to increase your reviews overall. Last year, the data that we saw in Feedback Five, which is our review and feedback tool, we found that in that week after Prime Day in 2020, there was a 32% increase in positive reviews. So again, it's just a great opportunity to increase reviews. And if you think of Prime Day, it's different than in Q4 or the holidays where at the holidays at Christmas, people are buying gifts for other people. So they're not necessarily the one that's going to use the item and leave the review, or they might be buying the item in October, but not giving it as a gift for two or three months later. Whereas Prime Day, many people are purchasing items for their self or their own household and they're using them right away. So just build on that excitement. They're more motivated because they got great deals. They're more motivated to leave reviews. So just make sure that you're asking for reviews and that you have a system in place. And as far as, what's the most safe or effective way to ask for reviews, the request to review button in seller central on that order details page is the safest way to ask for reviews because that's a message that comes directly from Amazon, so you can ensure it's 100% compliant. It's also very mobile friendly and it's been optimized to get great results. However, it's a very manual process to do that in seller central, especially when you have a lot of orders. So make sure that you look into using a tool. Feedback Five is our tool, but obviously find one in the Amazon app store that's approved by Amazon. So just make sure you have an automation in place to request those reviews 'cause sellers have a million other things to worry about than clicking that review button. But yeah, so again, it's a great opportunity to get reviews post Prime Day and set yourself up for Q4.

Prateek Haralalka:

Can I add something there?

Colleen Quattlebaum:

Sure. Please.

Prateek Haralalka:

Colleen, I used to work at a retailer, prior to joining DataHawk, and one of the things we used to do when requesting reviews is we used to add a line saying, if you had a less than stellar experience, instead of leaving us a negative review, give us a chance to provide recourse. So I think that can also be a good way to sort of reduce the number of negative feedback you get, because it's so much more difficult once you get that negative, to have that removed or to turn that into a positive is way more difficult than just sending that one line in that email and avoiding that to begin with. What do you think?

Colleen Quattlebaum:

So you do have to be very careful with that type of language. Amazon is pretty clear in their guidelines that they want you to be as neutral as possible. Now, many sellers do that and have gotten away with it, but I also know that some have been suspended or restricted, I should say, for that. So just be very careful if you're using buyer-seller messaging, certainly you can customize that more than you could the request a review message, but you do have to be very careful because if anyone at Amazon sees it as you're pushing positive reviews to Amazon and negative experiences back to you, then you could be putting yourself in position for restrictions. So just be careful with that.

Meghan O’Keefe:

Thanks Colleen.

Colleen Quattlebaum:

Sure.

Meghan O’Keefe:

And then as far as leading out for advertising, then what are the advertising tactics that sellers should be leveraging off of Prime Day success?

Ben Gemkow:

Yeah, so this is going after Prime Day is over?

Meghan O’Keefe:

Yes.

Ben Gemkow:

Yeah, so after Prime Day just kind of revert your entire account back to normal... That's the simplest way... But because there's so much of an influx of traffic, you want to make sure that you're retargeting to them. So I would utilize a strategy of using both DSP as well as sponsored display. Both are going to reach out to those customers who have looked at your brand, who may be in the same arena. There's just a giant pool of customers waiting for you to kind of advertise to them. So that's the biggest thing that I would say to go after those customers, right after Prime Day. Just taking advantage of that pool. Those are the best two ways to do it.

Meghan O’Keefe:

Yeah, I think there's also an opportunity there to engage new-to-brand customers as well. So customers that you brought into the funnel, those new-to-brand customers, maybe there's a cross sell opportunity there as well.

Prateek Haralalka:

I have a question for Ben. So, when you're just running ads like a regular sponsored product ad, you have a specific cost per sale, advertising cost of sale. But when you're retargeting, is your cost per sale higher, generally speaking, compared to a regular sponsored product ads?

Ben Gemkow:

Yeah, so sponsored product ads are always gonna be the most efficient ad tactic. So when you're going to have to sponsor display, you have to just know right away that this is not going to be as efficient as what I would typically run. Kind of the same mentality when you're going for sponsored brands too. It's just such a high traffic spot, highly competitive spot, but for sponsored display and DSP you have to figure out what you're comfortable with as a goal and go from there. So as long as you just know, like, okay I'm gonna go retarget people who are in the category, who have seen my product, but haven't directly interacted with me. Those people have a small chance of converting but it's worth reaching out to them. The people who have clicked on your product and were taken away because maybe a competitor scooped them up and the carousel underneath the product listing or some other sponsored display or DSP tactic of their own, those are gonna be a little bit more easy than going after the category to take over. So all in all, sponsored display, DSP is gonna be less efficient than your typical sponsored product targeting, but it's definitely worth it. So just going into it, just know that it's not gonna be as efficient, but it's worth it.

Prateek Haralalka:

Thank you. Thank you for that.

Meghan O’Keefe:

It's part of that full funnel strategy, right? Sorry, Chad, did you have anything-

Chad Rubin: 

Yeah, I was just going to share, as we're talking about like A-cost, if you're selling a subscription product and you're doing like subscribe and save, whether a vendor or a seller, a lot of people just look at the A-cost, but you have to also think about the lifetime value of what you're going to be getting on the subscription products. So actually there may be even more room for you to spend to acquire those customers and to convert them into a brand supporter for you, with a high NPS score. I'm just saying, if you're dialed in right now and you have a subscription product and you don't wanna just like create a waxing A-cost or just increase your budget 50% or 100%, and you can actually be very profitable by going like really to the wall on some advertising for the subscription product. And you can get that recurring revenue back. I would just go ahead and do it.

Meghan O’Keefe:

Excellent point. Yep.

Ben Gemkow: 

To kind of jump on that too, if you don't mind, that's another way that DSP can help you grow is if you're just going out... If you're only looking at your account in terms of A-cost and you're like, okay I can only hit this level, you have to also look at, what's the actual value that I'm trying to go after here? The value of a new customer of that giant Prime Day pool is far more important than spending $100 at 100% of your costs, in my opinion, like the lifetime, like you just said, Chad, the lifetime value of that new subscriber or that new customer in general is way more valuable. And Prime Day is a great way to kind of jumpstart that because you have this giant pool of new customers to take advantage of.

Meghan O’Keefe:

Yeah, I think something maybe we forgot to mention at the beginning too, that's really important. It's just defining like what your goal is for Prime Day. What are you looking to accomplish with Prime Day? So I love all the conversation-ing happening there. Cool, well, I think one more question just to close us out before we head into the QA is, I would love to hear from all of you, what are some of the most important lessons learned from Prime Day?

Prateek Haralalka:

I'd say just make sure you have enough inventory, not just to cater to the demand spike you're gonna experience on Prime Day, but even after. Because once you sell so much on Prime Day, Amazon's gonna boost your organic visibility. Because there's a very strong correlation between sales velocity and your organic ranks. So basically even after Prime Day, a lot of shoppers are gonna be seeing your products, so make sure you have enough inventory to service that demand after Prime Day, to just benefit from the momentum.

Chad Rubin: 

Yeah, there's no question, keeping product in stock is super important. I think what's happening is that there's this convergence of sellers or brands becoming advertisers, or trying to become advertisers, which is sort of why Tinuiti exists, right? Because you guys take the hard work out of it. And so firstly, it's going through that impression share report, that search term report from sponsored brand, the sponsored search term report, impression share report, which will tell you how much impression share you're getting for a specific keyword. And then if you look at your margins, comparatively to that, you'd naturally like increase your budget without maybe not increasing bids or maybe increasing bids based on your margin. I think that's super important, but going back to, I think it was Colleen, but someone on the call said, knowing what your, and maybe it was Meghan, what your intention is behind Prime Day. And you don't need to have a intention that's global for your business, but you could have a different intention, for example, a new product launch, your intention would be like, hey, I just want to get eyeballs. I want people to buy this thing because I wanna get more reviews. Or a mature product in its product life cycle, it might be, I just want to get my BSR back because I lost it a long time ago. And so I think segmenting your product catalog based on your intention behind it is gonna be really really valuable and goes into the preparation. I think now is the perfect time to do it 'cause we're like a month out and you can really start segmenting where you wanna spend the calories of your money and your thoughts towards your product catalog.

Prateek Haralalka:

Good points. All good points

Ben Gemkow: 

For me, I think the biggest thing that I've learned over the years of participating in Prime Day, both personally and professionally, be competitive. Just understand kind of like what you just said is, what are your goals, what are you trying to do here? Like be ready to set aside a certain amount of your monthly budget for those two days of Prime Day, but also realize that Prime Day kind of starts a month before, you should start trying to target these people beforehand, get your brand out there, then go hard on Prime Day, the actual two days of it, then after retarget that pool. So it can be like a whole two months of a user base that you've never interacted with before. So be ready to be competitive, understand what you can do, because even if you don't have any promotions or anything, you can still be competitive. You can still participate. The influx of traffic in Amazon is great during these two days. So just because you don't have promotions doesn't mean you can't participate. Just be competitive.

Colleen Quattlebaum:

As Chad mentioned earlier, it's likely there could be a Prime Day in fourth quarter in October again, so just if you missed the boat on lightening deals or anything this time around, learn from this one and be prepared for the next one.

Meghan O’Keefe:

Got it. I appreciate all of that feedback guys. And I think the audience does as well. So inventory, definitely very important. Wanna make sure that we have it planned for after Prime Day too, to benefit from the momentum, using the impression share a report for keyword and looking at your margins there to identify where do you have room to push more, as Ben said, being competitive, and Chad said, understanding what your goals are for going into the holiday. So is it a new product launch, or is it you want to get your best seller ranking back, or do you want more new-to-brand customers? Really, what is the goal going into the holiday? All really great things. So I think we have some time left for a live Q & A, unless there's any other last thoughts before we hand it back to the audience. Cool. Kerry, welcome back.

Kerry Mallett: 

Awesome. What a great conversation about all things Prime Day. I know I learn every time you all speak and definitely learned a lot as well. Awesome, so as we get the deck back up, before we dive into our Q & A, we've had some incredible questions come in from our . You're going to launch our next poll. So after hearing from all of our Amazon experts, if you're interested in scheduling strategy session, whether it is to figure out what should be your last before this Prime Day, or perhaps in order to prepare for next year's Prime Day, overall Amazon strategy, please let us know what you're interested in. You can let us know if you're interested in a strategy session with any of our partners on today, whether that's Tinuiti, eComEngine, DataHawk, or Skubana. So I will leave that up for another minute or two, and if you've gotten your response in, but you have not yet submitted a question for our Q & A, you still have time to do so. All right, so I'll leave that up for another moment or two, so that everyone can get their answers in and then we'll move onto our Q & A and our audience has been asking some great questions, some very in depth questions. All right, so thank you , and we'll kick it off with our Q & A. So our first question comes from Melissa. So Melissa was wondering how soon before Prime Day should we increased big or budgets to gain the velocity needed for Prime Day success?

Meghan O’Keefe:

I can take that one, and please feel free to jump in here anybody else, but I think you should really start thinking about your budget and increasing bids now. So I'd say like the sweet spot is about two weeks out ahead of Prime Day. Like once they announced Prime Day, the traffic, you'll definitely start to see the lead up to Prime Day of that browsing behavior happening. People starting to basket build. So the competition is definitely going to start to increase across the board.

Kerry Mallett: 

All right, and the next question comes from Charlene, so Charlene is wondering, what suggestions do you have for sellers who are general resellers in the category and are not brand owner? Again, this is for-

Chad Rubin: 

Yeah, that's a hard one. I would probably just cause I think if you do sponsor ads as a reseller in a listing, I think Amazon does Amazon automatically give you the buy box for that specific listing? I'm not so familiar with the reseller model. Anybody else on the call have any thoughts?

Kerry Mallett: 

I am not sure, so we might have to just check that after. Sorry about that Chad. All right, so we can go to the next question, and I know my audio is being a little funky, my apologies, everyone. Okay, so our next question comes from Joe, so Joe was wondering, how does advertising improve organic visibility? What's the relationship between the two?

Prateek Haralalka:

I think I can answer that. I'll give you a real example. So if you have, let's say, you sell mattresses. So maybe a relevant search term for you is queen mattress. If you search with queen mattress on Amazon, you're gonna notice that 75% of the products that show up organically in search results on Amazon's page one, will have at least 500 ratings, right? Why? Because Amazon's algorithm has learned. We're just constantly learning from shoppers' buying behavior, right? That most people, when they type in the word queen mattress, they tend to buy products which have at least 500 ratings. As a result, 75% of the products Amazon's algorithm is showing organically in search results for that one search term, have at least 500 ratings. So if you have a product that let's say has only 200 ratings you're not gonna make it to page one organically. Why? Because you don't meet that profile. You don't meet that standard of at least 500 ratings. You'll be sitting on page maybe two or page three. So what you then wanna do if you're sitting on page two or three you're not clocking as many sales. So what you wanna do then is you wanna be running... You're gonna advertise that product, and because you're advertising it, you're showing up on page one as a sponsored product for that search term. Now what's happening is because you're sitting on page one as a sponsored product, more people are seeing your product when they type in queen mattress, meaning you'll be getting more visits, more sales, and gradually more ratings. And when that happens over time, you're gonna move from 200 ratings to 500 ratings at some point of time. And then you'll start to move from page three to two to one organically and that's when you can stop advertising. So that's the link between advertising and boosting organic visibility. You can leverage advertising to boost your organic visibility. I don't know if that answers the question.

Kerry Mallett: 

All right. And to our audience, I know, my audio may not be working so well, so my apologies. I am just going to put the questions in the chat for our panelists. So our next question, if you all can hear me is, can you give us an example on a way to utilize the search term impression report? It has so much data in it, how can we best utilize that data?

Chad Rubin: 

Yeah, there's a lot of data in there. I think there's only really a couple of important columns. So one is the trust versus search term, that is your impression share that you're getting, and then what campaign it is in and like the match type. And so what I would do is I would say, okay, where am I not getting impressions where I should be? Then digging further, is it because of bid? Is it because of budget? And then looking at your margins and seeing, okay, Prime Day for this product, I want to maximize exposure, because I know that I have a strong LTV as a brand. And so I would just like be very focused on the data. And for products that maybe you're trying to liquidate, maybe you don't have the budget or you don't have the bids to be able to compete with other people, but maybe that's something that you want to maybe get rid of or liquidate. So using this report, I think is pretty eyeopening to sort through your skus as a brand before Skubana, I'd mentioned, I have Crucial, we have 580 of our own private label skus. That's a heck of a lot of skus to manage and to get strategic on, but it requires time and analysis to be able to do the work to figure it out because if you're doing that and others aren't, that's a great way to win in e-commerce, especially on Amazon. So at first mover advantage, right, this report is relatively new. I think it's still in beta. So I think it's a great report that you can be maximizing your time on to yield a high ROI.

Kerry Mallett: 

Awesome. Thank you, Chad. Our next question is from Fred. Fred is asking, I'm launching a new haircare product collection, is there anything specifically I should focus on to optimize my Prime Day opportunity?

Prateek Haralalka:

I could touch on that a little bit, maybe. Like I mentioned earlier, basically if you want to rank high organically in search results, instead of reinventing the wheel, look at the guys which are already ranking high for those kinds of products on Amazon. And look at their listings to see what kind of words they're using on their listings, how many times and where. For example, if it's a haircare product they could be using for dry hair, that combination of the long tail three terms, maybe in the second, third, and fourth positions of the title or in the second bullet point, right. Just look at the top items that show up organically on Amazon, look at the listings, look at the words they're using were, and start replicating... Like emulating their listings.

Chad Rubin: 

Yeah. I'll take that one step further Prateek, I guess we didn't talk much about listing optimization. And I think looking at competitor listings is very important. I think if we're gonna take it one step further going into the listings of those main keywords that you want to rank for and looking at their negative reviews, because let's be honest, if you have 5,000 views and 66% of them are five star and then the rest are four, three, two, one, people are looking at those probably more often, especially one and two, and if you can essentially take those negatives and then bring them into your listing in the photography or in your bullets, and use them as ammo, like unlike the competitors, we don't make you lose hair, or unlike the competitors ours is made in America, is a great example. And so I think to use those and turn them into positives is a great strategy.

Ben Gemkow: 

For anytime I'm launching a new product in general, I will set up auto campaigns per product and have them go, obviously being careful with budget and all that. But that's one thing I would do for sure for Prime Day. Set each it's own auto automatic campaign and just let it go. I would also group them into a sponsor brand campaign. Advertise them that way as well, 'cause if it's a new haircare product collection, you wanna make sure that you're getting awareness. You're not necessarily concerned about efficiency at this point, I would assume. But going back to our strategy of listing, all of your products in a certain page and then driving your sponsored brand to that store page will really help with awareness as well as just getting your brand out there.

Chad Rubin: 

And then, Ben, you do the auto campaign because essentially it buckets all the keywords that are in your listing, and you can start looking at those keywords words, is that your perspective?

Ben Gemkow: 

Kind of, I like to use auto campaigns for new product launches because one I don't necessarily care about efficiency at the moment. And auto campaigns are going to be able to get into options where I can't think of off the top of my head. So they're gonna expand further beyond sponsored products in general, your manual campaigns that is so it's gonna be able to enter you into options where the product may be relevant, that you can't think of it. So that's why I like to use them. It's like a spark plug.

Kerry Mallett: 

Awesome, well I think-

Meghan O’Keefe: 

One more thing, just... Sorry Kerry, one more thing to add to that question is if they are brand registered, utilizing Amazon Post. So Amazon Post is a free tool that you can basically essentially post organic looking content on Amazon. I think for a product like haircare, that's a good way to tell your brand story and for customers to connect with it. So utilizing Post for anybody that's brand registered is like a additional great way to gain visibility ahead of the Prime Day holiday.

Chad Rubin: 

And Meghan, I recently heard of Post. Do you have a good example of a brand that's leveraging Post right now that you can share?

Meghan O’Keefe: 

Yeah, so they're actually only on mobile right now. I believe they're also still in beta. I could be wrong, but really they're only visible on the mobile app right now and mobile web. So I'm trying to think of a good brand off the top of my head. I can't think of a good brand off the top of my head, but I would look at possibly the baby category. So anybody that's... Any type of like baby toy or something like that, I've seen them using Amazon Post.

Ben Gemkow:

Outdoors categories as well.

Meghan O’Keefe: 

Yeah, outdoors categories.

Ben Gemkow:

Cool.

Ben Gemkow:

They're free and easy and it's a no brainer.

Kerry Mallett: 

All right, so thank you everyone. Lots of great advice. Our last question for the day is going to be about reviews. The question was asking, it goes off of Colleen, your point about increasing your reviews and sending emails. What are other ways you can help increase the amount of reviews on your products?

Colleen Quattlebaum:

The early reviewer program closed down a few months ago, Amazon Vine is a great program to take advantage of if you're part of the green registry program. Although I have heard mixed reviews about that, it works great for some sellers, others don't see much success. And then also use product inserts in your product, that is allowed so you are allowed to ask for feedback and reviews with a product insert, just be careful, again to use very neutral language, not if you love this product, leave us a review, if not, call us, that's not allowed. But you can also use product inserts to promote other products from your Amazon store. So if you already have one product that you've launched and you're working on launching another one, then you can certainly create cross promotional purchases that way. You can also get repeat purchases from your inserts. So inserts can be used in many different ways. And of course deliver important instructions and warranty information and such. So I would say, use inserts to request reviews, just always ask for reviews on every single item that you have and consider Amazon Vine. And as everybody said before, just optimize your listings to make sure that you're set up for success for a positive review. But you are pretty limited on what you can do because Amazon does not want you to drive traffic off of Amazon. And they have very strict rules and guidelines about requesting reviews. There are some limitations, really just request a review button, using a tool an Amazon app store, product inserts, Amazon Vine, those are the main ways.

Prateek Haralalka:

Hey, Colleen, somebody was telling me that to get a review from a customer through Amazon's early reviewer program used to cost 60 bucks a review. Is that accurate? And does Vine cost the same or is it more or less any idea?

Colleen Quattlebaum:

Vine does not share the cost outwardly on the site, in the program, so you have to apply for Amazon Vine and then you'll get the cost. But I understand it's pretty minimal, but yes early reviewer was pretty inexpensive. I think it was $60 for your first five reviews. So Amazon Vine, though is still available but you do have to be brand registered, but it does not cost much. And it has Vine Voices, which are some of the top reviewers that get access to review your products. And those are some of the more helpful detailed reviews because they're professional reviewers. So it's great if you can get some Vine Voices to review your products through Amazon Vine, they're usually very, very helpful.

Prateek Haralalka:

Nice, you know this thing inside out, thank you.

Kerry Mallett: 

Awesome, well, for the sake of time, we unfortunately can't get to all of our audience questions. We had so many amazing questions come in. Thank you to our panelists for answering so many fantastic questions about how to prep for Prime Day. So before I sign off today, I wanna remind everyone that for all things, privacy, with all the changes and iOS updates, you can go to tinuity.com/privacy-forward, which is our landing spot for all updates on privacy. So with that, I want to thank everyone again for tuning in. Thank you to our fantastic audience who was incredibly engaged and thank you, thank you, thank you to our incredible panelists as well for sharing all their expertise. It was wonderful being with you all this afternoon and hope everyone has a great rest of their Thursday.

Prateek Haralalka:

Thank you so much guys, great to be here.

Colleen Quattlebaum:

Thanks.

Ben Gemkow:

Thank you so much.

Chad Rubin: 

Thank you, see you.

Colleen Quattlebaum:

Happy Prime Day! 

Meghan O’Keefe: 

Happy Prime Day.

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