This year’s Prime Day was another record-breaking event with remarkable results across both sales and advertising spend. Our clients, across a number of categories, generated a high ROI, with some experiencing a staggering +400% increase in sales on products that were featured in Prime Day deals.
As we reflect on this success, here are three key learnings that played a crucial role in achieving these outcomes:
- Hold Your Nerve
One of the most important strategies for a successful Prime Day is to hold your nerve and avoid getting drawn into the spending war early in the day. We observed that several competitors increased their advertising spend significantly during the morning of the first day, which led to a sharp rise in cost-per-clicks (CPCs) on high-traffic keywords.
This early rush often meant that many of these competitors exhausted their budgets before the most critical purchasing period—early evening. By staying disciplined and avoiding the temptation to overspend in the morning, we were able to conserve our budget and maintain strong visibility when consumers were most likely to make purchases. This approach proved to be a key factor in driving higher conversions later in the day.
- Be Flexible
Flexibility is crucial during major shopping events like Prime Day. We were able to capitalise on competitors running out of budget by quickly increasing our spend on competitor-focused campaigns. This allowed us to capture more visibility and drive additional sales.
Prime Day is unpredictable, and there’s always the potential for unforeseen issues to arise, such as products going out of stock or deals not going live as planned. Having a flexible strategy in place allowed us to quickly adapt and overcome these challenges, ensuring we could make the most of every opportunity.
- Plan Ahead
Effective planning is essential to maximise returns during Prime Day. Before the event, we spent time identifying our key keywords, knowing that it’s impossible to maintain top positions across every keyword. By focusing on our most valuable keywords, we were able to allocate our advertising spend more efficiently and avoid wasteful spending.
This targeted approach not only helped us to stay within budget but also ensured that we were bidding on terms that were most likely to drive conversions.
Key Takeaway
Our Prime Day success was built on a combination of strategic planning, disciplined spending, and flexible execution. By holding our nerve during the early spending rush, being ready to adapt to unexpected challenges, and focusing our efforts on the most valuable keywords, we were able to deliver outstanding results for our clients.
As we look ahead to future events, these insights will continue to inform our approach, helping us to optimise our strategies and drive even greater success.
Author: Dan Hill
Published: August 2, 2024
