Amazon dominates 37% of the estimated $100 billion market for retail media ads, making it a prime opportunity for media buyers to capitalize on Amazon Prime Day 2024. This two-day event, slated for July 16th and 17th, sees an uptick in ad click-throughs by 226%, alongside a 409% increase in ad spend compared to the preceding 30 days. For retail media buyers, seizing the moment to enhance your Prime Day strategy is essential for staying ahead of the competition.
Winning Ad Campaigns for Amazon Prime Day 2024
Exclusive sale events hold a unique allure for shoppers, and the numbers from the 2023 Amazon Prime Day speak volumes: U.S. sales surged nearly 6% year-over-year to $6.4 billion on the event’s first day alone.
As we approach the 2024 Amazon Prime Day, set to rival even the busiest retail holidays like Christmas and Thanksgiving, anticipation is high for what could be one of the largest e-commerce moments of the year. With retailers gearing up to offer substantial discounts, consumer spending is expected to soar. But where do media buyers fit into this equation?
Amazon Prime Day Trends Across Seasons
Amazon Prime Day debuted on July 15, 2015, commemorating the company’s 20th anniversary. Initially accessible in only 9 countries, including the United States, United Kingdom, Canada, and France, the event has since expanded to over 20 countries and now spans a duration of 48 hours.
Shopping by Household
In 2023, over a third (37%) of US households participated in Prime Day, marking a notable increase from previous years. This surge was accompanied by a slight uptick in spending per household, fueled by increased orders.
Shopping by Preference
82% of Amazon Prime Day shoppers in 2023 knew what they wanted to purchase, with 53% specifically holding out for discounted prices during the event. Additionally, 34% of shoppers availed themselves of Lightning Deals, emphasizing the event’s appeal to bargain hunters.
Shopping by Deals
The satisfaction levels among Prime Day shoppers were high in 2023, with two-thirds expressing extreme or high satisfaction with the deals offered. Notably, data reveals that most deals featured percentage-based discounts, with a significant proportion offering discounts of 60% or more.
How To Promote Amazon Prime Day Products On Social Media
When promoting Amazon products on paid social media, there are a few considerations to remember. While Amazon has its advertising platform, Amazon Ads, which offers opportunities both on and off the platform through the Amazon Demand Side Platform (DSP), leveraging social media advertising can enhance your promotional efforts. However, there are some potential hurdles to navigate.
Platform Policies
One significant obstacle advertisers face is the inability to track events, particularly conversions and purchases, when using Amazon shop links on social media advertising platforms. You cannot install the Meta pixel on Amazon shop links, and thus tracking purchases becomes challenging. Facebook’s Terms of Service categorize Amazon as a third-party advertising website, imposing limitations on advertising within Meta.
What you can do:
Instead of using direct Amazon links, which violate Facebook’s terms, consider using a dedicated landing page for your featured Amazon Prime Day products. Directing traffic to a landing page allows you to bypass the restriction and provide more flexibility in presenting your products.
A dedicated website and landing page enable you to showcase additional product benefits and features that may not be included in your Amazon product descriptions. This presents an opportunity to tailor your messaging to your audience and highlight unique selling points not openly stated in your Amazon product link.
Approaching Audiences
As Amazon Prime Day 2024 approaches, competition intensifies, with fierce competition for ad space and user attention. With an estimated 2.5 million reach as early as two months before the event, precision in targeting is crucial to focus your advertising efforts within your brand’s niche.
What you can do:
While targeting specific audiences may incur higher costs, social media platforms offer the advantage of precise audience targeting. Utilizing custom audiences, lookalike audiences, and retargeting options enhances your ability to reach those interested in your products.
For example, platforms like TikTok allow the creation of custom audiences based on landing page visits or engagement with your profile.
Since Amazon Prime Day 2024 is expected to occur from July 10th to 11th, consider uploading your custom audience list from previous retail seasons, such as Mother’s Day and the 4th of July.
Furthermore, if your landing page remains active year-round, ensure you embed the TikTok pixel to target a lookalike audience of your landing page visits from the last 30 days.
Technicalities and Backend
Tracking the effectiveness of your social media ad campaigns requires the proper setup of backend analytics to determine whether sales originate from your campaigns. Establishing connections between your ads and landing pages is essential for accurately measuring campaign performance.
What you can do:
Utilize UTM parameters in your landing page URLs to track traffic sources. For instance, if YouTube video ads drive traffic to your Amazon Prime Day 2024 landing page, create URLs with UTM parameters indicating the traffic source.
By tracking these links through Google Analytics, you can assess the impact of your social media advertising efforts and optimize accordingly.
Here’s an example:
https://yourbrand-amazonprimeday.com?utm_source=bumperads&utm_medium=videoads&utm_campaign=amazonprimeday2024
&utm_id=youtube
You can obtain this using an online UTM builder and track the link through GA4 to determine if you’re gaining landing page traffic from your YouTube ads.
Effective Ad Formats For Your Amazon Prime Day Strategy
When advertising Amazon products on social media platforms for Prime Day 2024, it’s essential to choose ad formats that effectively showcase your offerings. While Amazon ads are straightforward, featuring product images, prices, and details, transitioning these ads to social media can be tricky. Fortunately, there are several ad formats available on social media advertising platforms that can help boost your Prime Day marketing efforts.
Meta Collection Ads
The Collection ad format lets you showcase large cover images or videos and smaller product images from your catalog. Users who tap on the cover image or video are directed to a full-screen Instant Experience to explore and purchase products. Tapping on the smaller product images leads users to your nominated landing page for your Amazon Prime Day 2024 featured products.
Meta Carousel Ads
Like Collection ads, Carousel ads enable you to display multiple images or videos within a single ad. Users can scroll through the carousel and select items that interest them, eventually directing them to your dedicated Amazon Prime Day landing page.
The fun thing about Carousel ads is you can take them through a journey by creating a continuous creative (see a sample below) or simply list down the Prime Day products you want to feature.
YouTube Shopping Ads
Despite Amazon and Google Merchant Center being separate platforms, you can link them to make the most of Google and YouTube’s reach for your shop. You can export your Amazon shop catalog to the Google Merchant Center using various external tools.
From there, YouTube Shopping Ads will feature your products on the platform through search partners and suggested products.
TikTok Interactive Add-Ons
To enhance your Prime Day marketing strategy, utilize TikTok’s interactive add-ons to showcase your exclusive 2024 offers to your target audience effectively. These interactive ad campaigns take on a shorter flight, thus complementing seamlessly with your ongoing brand awareness TikTok campaign.
Engage with users who have previously interacted with your awareness campaigns through retargeting, gradually building anticipation towards Prime Day. These engaged audiences will be specifically targeted with the gift code sticker ad, enticing them to explore your Prime Day deals further through the interactive campaign.
During Amazon Prime Days 1 and 2, seamlessly integrate the gift code sticker interactive add-ons into your video campaigns. As the gift code sticker appears in your ad, viewers can effortlessly click “Redeem Code” to copy it to their phone’s clipboard and redeem the code when purchasing from your Amazon shop.
Prime Your Ads for Amazon Prime Day Sales
E-commerce platforms hold immense power, often underutilized. With Amazon Prime Day 2024 approaching, there’s still time to optimize your listings and social media ads for the platforms we’ve discussed.
While participation in the Amazon Prime Day event promises gains for Amazon sellers, integrating strategic social media campaigns can significantly amplify your results. Curious about how to maximize this opportunity? Contact us today or schedule a meeting with our team. Let’s make it happen.
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