Amazon accounted for about half of all Black Friday/Cyber Monday sales last year. With the online retail giant continuing to dominate the market, this year’s Black Friday/Cyber Monday on Amazon is predicted to be even more profitable. If your brand wants a piece of the holiday shopping pie, here are some things you can do now to prepare.
Get ready to sell on November 1st
Large retailers like Walmart, Best Buy and Target start advertising their Black Friday and Cyber Monday promotions a week before. Although it officially starts on November 23rd, the day after Thanksgiving, many deals will be available on Amazon early November, with sales getting more aggressive approaching the big day.
November 1st is the day Amazon opens the Black Friday/Cyber Monday deals store, and if your brand wants to throw its hat in the ring, we’d recommend being ready by the first of the month.
Build up your reviews
Shopping online is now more social than ever, and having a strong base of reviews will be essential for a successful Amazon Black Friday/Cyber Monday. Research indicates that 84 percent of shoppers trust online reviews as much as a friend’s recommendation and 91 percent of shoppers read online reviews before buying.
Stock up on inventory
It might go without saying, but the best way to prepare for Black Friday and Cyber Monday is to make sure your store has enough inventory to satisfy higher demand. Two of the best ways to do this are to understand how Amazon promotions work, and if you sell using Fulfillment by Amazon, check your inventory to make sure it’s reserved for Black Friday sales.
Nail down advertising strategy
How will your brand’s audience know about your Amazon Black Friday and Cyber Monday deals? If you haven’t already, strategize on how to spread the word. Will you send out an email campaign, use social media marketing, run PPC campaigns, or advertise directly on Amazon? It is ultimately up to you, but it’s better to have a plan in place than no plan at all.
Consider free shipping
Most of Black Friday and Cyber Monday purchases are impulse buys. Usability Sciences performed a study on cart abandoners, and they found that unacceptable shipping options were the second highest reason shoppers abandoned cart.
Since the window of consideration is so short for most of these holiday shoppers, your brand should consider offering your customers free shipping to sweeten the deal.
Bundle your products
If you bundle your products strategically, you’ll increase exposure, sell more, and get the coveted Amazon “Buy Box”. Product bundles on Amazon are convenient and add more value to a customer’s shopping experience. When you create a bundle, Amazon assigns a unique UPC to your offer - essentially creating a new product shoppers can find in the catalog.
Just make sure you follow Amazon’s specific policies on product bundling, and you’ll be set to bundle.
Keep an eye on the competition
With millions of sellers on Amazon worldwide, the competition is pretty steep. Keep track of your competitors’ pricing strategy (and make any needed adjustments) to make sure that your products are competitively priced while still offering a good profit margin for your brand.
Refine your SEO
Customers want to find your products and store as easily as possible, and if your SEO isn’t on point, then a competitor will win the Black Friday/Cyber Monday business. Look through your product listings and make sure that your SEO is on point. You don’t want any potential customers slipping through the cracks when the big day arrives. We offer our best tips to optimize your SEO on Amazon here.
Account for your promotions in sales projections
It sounds obvious, but make sure you account for your brand’s promotions when projecting sales for Amazon Black Friday and Cyber Monday. The last thing you want to do is upset the boss by coming under your projections, because you didn’t account for Black Friday/Cyber Monday promotions.
With aggressive promotions and traffic flooding into Amazon, the holiday season can contribute to a huge chunk of seller’s revenue. November is going to be a big month for Amazon, and if your brand has prepared adequately for Black Friday and Cyber Monday, it will probably be a great month for you too.
If you're interested in learning more about how to make the most out of Black Friday or Cyber Monday and how Pattern can help, fill out the form below.