The Black Friday Strategy Guide: Tips For Sellers
Hot off the heels of Prime Day comes the year’s biggest selling opportunity at the start of the holiday season – Amazon Black Friday!
In 2019 over $717.5 billion was spent around the world on Amazon during the Black Friday and Cyber Monday weekend. Now once again the proverbial shelves are packed and primed with deals.
Not only will Amazon customers get some serious savings, but sellers are guaranteed to see some outstanding turnovers for what may be another record-breaking year.
If you miss the deadlines for Black Friday (and Cyber Monday), not to worry. There are still ways to capitalise and throw your merch into the ring to attract the attention of those bargain hunters and Amazon prime members.
Let us tell you how you can get a piece of the action.
Not All Black And White
Mark your calendars down for the last weekend of November 27, 2020, for the start of the Black Friday weekend. Most people are prepping for four days of intense deals running through to Cyber Monday. However, Amazon deals don’t start or stop there.
Some of the best deals happen before or after, targeting those customers who cannot wait. This entire month and into early December you will be seeing hundreds of brands gearing up and positioning themselves with Daily Deals and Lightning Deals. It may be well worth your while getting in on the early rush with your own campaigns.
Prepare The Right Way
The first step into getting everything you can out of Black Friday is preparing your war chest. We highly recommend increasing your marketing/campaign budget, specifically for the sale period.
While cost-per-click may drop slightly during this period, click-through rates and conversion jump up. Running out of budget during this time because of too much interest is an unacceptable mistake you cannot afford to make. It is a bidding war you need to win.
Also, be strategic. Don’t stretch yourself thin by working with all your listings. Focus in on the categories and specific products you can back up and win customers with. Optimise listings and campaigns and keep on top of the competition, which will be targeting you and your shared customer base.
Daily Lightning Strikes!
For those who will make the November 6th shipping deadline, welcome to the Thunderdome where you can get some serious bang for your buck with a Lightning Deal or a Daily Deal.
Daily Deals are a well-established part and parcel of Amazon’s marketing strategies with deeply discounted items appearing for a 24 hour period. These are great as they go out as part of Amazon’s marketing emails making for a lot of awareness.
On the other side of the coin are Lightning Deals, limited-time flash sales. A combination of a countdown timer, limited inventory and knocked-down prices make these hard to resist. The pressure to get something before it’s gone will drive converting customers who would otherwise have had second guesses.
Open for Coupons & Discounts
If you can’t meet Amazon’s rigid demands regarding the above Black Friday deals, then there are still two options left to you. Take advantage of increased traffic by putting the deals into your own hands and offering coupons and discounts on selected products.
The benefits are clear. You are in control of discount percentages, coupon bargains, and your own profit margins. This allows you to project profit margins with ease and forget about Amazon’s inventory restrictions.
It’s still the same strategy by focusing on certain listings over others. However, by observing popular deals from competing listings, you could capitalise and steal customers away with more enticing offers.
Last But Not Least…
Here are some final tips for eager sellers:
- Be wary of your shipping costs – Everything is a deal on Black Friday, so do not make customers avoid you because of price-upping delivery fees.
- Bundle, Bundle, Bundle – Great things come in twos or more. If you have products that complement each other, putting them together could be enticing to customers.
- Save your Stock – It may be exciting to sell out but hold back and make sure you have enough stock on hand to tide you over until more arrives. Holiday and Christmas shopping is just around the corner.
- Keyword Optimisation – If “deals” are what people are looking for, then give them what they ask for. Include important sale keywords in the back end of your listing.
Thinking of selling on Amazon and getting in on the sale madness? Let the experts help you plan out your Amazon strategy – Contact us and find out how best to represent your brand.
Call us on +44 20 8080 0505 or email us at firstname.lastname@example.org