Jana recently co-hosted the Ecom Cooperative Webinar on effective Prime Day preparation with Pearl Ausch of Frisbi. It’s a must-watch. Prime Day is just around the corner! It’s crucial to have a well-planned strategy to make the most of this highly anticipated event. The webinar featured top-tier industry experts who shared their valuable insights and strategies for achieving success during this sales extravaganza. In this blog post, we will delve into the key takeaways from the webinar, highlighting the topics discussed by each speaker.
To watch the whole video (we highly recommend it), click on the video below. It’s a must-watch, chock-full of riveting discussions on real concerns that face Amazon sellers as we approach Prime Day. These tactics will help you take full advantage of the day – so be prepared, and take notes. You’re bound to learn a whole lot!
To pique your interest, here are tidbits from each speaker:
Ephraim Ausch: Getting Products into Amazon on Time
Ephraim Ausch, the Chief Logistics Officer of Tactical Logistic Solutions, emphasized the importance of planning FBA shipments early. By sending your inventory to Amazon between June 10 and June 15, you allow ample time for Amazon to receive and process your products. With current congestion concerns, taking early action is crucial for ensuring prompt shipping to customers and maximizing your Prime Day sales potential. If you’re reading this on the date of publishing, today’s the day; strike while the iron is hot! We have no definite idea of when Prime Day is yet, but it’s going to be sometime in July. Hope you’re prepared!
Andrew Morgans: Maximizing Momentum for Prime Day
Andrew Morgans from Marknology shed light on the significance of maximizing momentum during Prime Day. He stressed the need to set appropriate advertising budgets and regularly monitor ad performance throughout the day. Instead of conducting AB testing, focus on gaining momentum and prioritize customer retention over immediate sales. Morgans also emphasized the importance of considering the lifetime value of customers. His presentation is crucial for putting you in the correct mindset for Prime Day – it’s not the day to expect a huge increase in profits, that’s for sure.
Michelle Bonadonna: Implementing and Monitoring a Minimum Advertising Price
Michelle Bonadonna, representing VantageBP, shared valuable insights into managing Minimum Advertising Price (MAP) during Prime Day. She provided detailed strategies for maneuvering around MAP restrictions and maintaining brand reputation while offering competitive deals. By understanding how to effectively navigate MAP regulations, sellers can protect their brand’s integrity and drive sales during this crucial event.- while making their way around any potential violations.
Chad Rubin: AI-Driven Pricing
Chad Rubin, founder of Profasee, highlighted the role of pricing as a crucial factor in driving sales. He discussed three essential components of successful pricing: centralizing pricing, establishing a pricing cadence, and connecting pricing decisions with other organizational aspects. By leveraging AI-driven pricing strategies, sellers can effectively signal value to customers, optimize their pricing approach, and enhance overall sales performance. After all, pricing is one of the important marketing P’s: it has a direct effect on how your customers perceive the value of your product.
Lisa Abel: Buy with Prime as Your Omni-Channel Solution
Lisa Abel, Senior Partnership Development Manager at Amazon, addressed the growing challenges of meeting customer expectations and differentiating brands in the current e-commerce landscape. She emphasized how Buy with Prime can help sellers achieve success both on and off Amazon by providing a familiar shopping experience. By leveraging this platform, sellers can enhance customer satisfaction, strengthen their brand identity, and drive increased sales during Prime Day. Think about it – the easier you make it for the customers, the more likely that customers will buy from you. She offers some advice that really shouldn’t be passed over, as we head into Prime Day – and, indeed, as we start preparing for Q4.
Brandon Young: Maximizing Amazon Profitability with Data
Brandon Young, the brainchild behind the supremely successful keyword research tool Data Dive, provided valuable tips for optimizing profitability on Amazon during Prime Day. He emphasized the importance of focusing on two key levers: offering value through content and design, and implementing wise pricing strategies. Brandon stressed the significance of optimizing conversion rates before driving traffic, tailoring content to appeal directly to buyers, and understanding the Amazon algorithm and the role of relevancy in performance. Brandon also shared insights on the Prime Day Deal badge, offering valuable tips on how to obtain it without compromising profitability.
Jacob Neuman: Navigating Tax Compliance for Large Imports
Jacob (Yakov) Neuman, representing Canadian Tax Compliance, stressed the significance of proper tax compliance for sellers involved in large imports. Neuman highlighted that failure to file taxes accurately can result in significant financial losses. By ensuring compliance with tax regulations, sellers can protect their profits and avoid unnecessary penalties, making the most of their Prime Day earnings.
Conclusion
The recent Ecom Cooperative Prime Day Prep Webinar provided a wealth of knowledge and practical strategies to boost success during Prime Day. From planning FBA shipments in advance and maximizing advertising momentum to navigating MAP regulations, implementing AI-driven pricing, leveraging Buy with Prime for omni-channel success, optimizing profitability with data insights, and maintaining tax compliance, the webinar covered a wide range of topics essential for a successful Prime Day. The discussion was relevant, with all sorts of tactics and tips to help maximize performance, enhance visibility, drive sales, and increase profitability during this highly anticipated sales event.
Remember, planning, optimization, and staying informed are key to achieving outstanding results on Prime Day. Best of luck with your preparations – wishing you the best Prime Day experience ever! Let us know how it goes! We hope this webinar helps you make the most of Prime Day 2023!