fbpx

How to Prepare for Prime Day 2022

Prime Day is rapidly approaching, and it’s time to start prepping. In this webinar, experts from Kaspien and MyFBAPrep share best practices for marketing and logistics for before, during, and after Prime Day.

You’ll Learn

How much you should increase ad spend and when

Which promotions historically yield the greatest ROI

How to handle inventory forecasting, reverse logistics, and more!

Watch the Webinar

1 00:00:03,573 --> 00:00:05,755 Hello and welcome to our webinar. 2 00:00:06,470 --> 00:00:07,824 My name is Matthew. 3 00:00:07,824 --> 00:00:09,856 I'm the B2B marketing manager here today. 4 00:00:10,458 --> 00:00:14,521 At Kaspien, and I'm here today to kind of intro our webinar topic 5 00:00:14,521 --> 00:00:15,800 and go through some housekeeping. 6 00:00:15,800 --> 00:00:19,148 And then I'll pass it over to our wonderful speakers, Brittni 7 00:00:19,148 --> 00:00:23,738 and Taylor. So, our topic is how to prep for Prime Day 2022. 8 00:00:23,738 --> 00:00:26,597 We're going to be focusing on marketing and logistics. 9 00:00:27,838 --> 00:00:28,816 And as Taylor mentioned, 10 00:00:28,816 --> 00:00:32,202 we're going to be breaking this up over before, during and after Prime Day. 11 00:00:32,579 --> 00:00:35,701 We are going to have a live Q&A at the end of this webinar. 12 00:00:35,739 --> 00:00:39,952 So, if you have questions at any time, please do ask those in the chat 13 00:00:40,178 --> 00:00:42,209 and we'll address those during the Q&A. 14 00:00:42,962 --> 00:00:44,993 We also are recording this webinar. 15 00:00:45,068 --> 00:00:48,040 So, if you have to drop off early, pop out for a call, 16 00:00:48,718 --> 00:00:52,668 we will be sending a copy of the recording to you most likely tomorrow. 17 00:00:53,345 --> 00:00:57,069 With that, I'll pass it over to our speakers, starting with Taylor 18 00:00:59,590 --> 00:01:01,057 Thank you, Matthew, for that 19 00:01:01,057 --> 00:01:05,910 lovely introduction, and I'll introduce myself. 20 00:01:05,910 --> 00:01:07,039 I'm Taylor Smits. 21 00:01:07,039 --> 00:01:11,177 I'm the co-founder of MyFBAPrep, and right now 22 00:01:11,177 --> 00:01:15,729 I'm focusing my efforts as the head of supply chain for MyFBAPrep. 23 00:01:16,669 --> 00:01:19,340 Brittni, thanks for having me and I'll let you introduce yourself. 24 00:01:19,942 --> 00:01:21,372 Hi, everyone. 25 00:01:21,372 --> 00:01:24,306 My name is Brittni Rizzo and I work at Kaspien 26 00:01:24,306 --> 00:01:27,128 as one of the search marketing coordinators 27 00:01:28,520 --> 00:01:30,175 A little bit about myself, 28 00:01:30,175 --> 00:01:34,802 I manage a lot of the search marketing campaigns 29 00:01:34,802 --> 00:01:37,774 here for a lot of agency as well as retail partners. 30 00:01:38,527 --> 00:01:42,815 And Kaspien as a whole has been around since 2008. 31 00:01:43,304 --> 00:01:48,910 And in that time we've generated over $1 billion in sales. 32 00:01:49,361 --> 00:01:53,499 And a big part of that growth has been our in-house marketing team 33 00:01:53,499 --> 00:01:57,562 and the strategies and the milestones that we've hit over the years 34 00:01:57,562 --> 00:02:02,039 so, a lot of testing, a lot of trying something with one partner 35 00:02:02,415 --> 00:02:06,365 and trying something with another has really grown the sales. 36 00:02:06,365 --> 00:02:12,008 So, we come from a long line of strategies and data and experience. 37 00:02:12,347 --> 00:02:14,679 So that's a little bit about Kaspien and myself. 38 00:02:16,448 --> 00:02:16,749 Great. 39 00:02:16,749 --> 00:02:18,065 Thanks. For that. 40 00:02:19,119 --> 00:02:21,790 Let me explain what MyFBAPrep is. 41 00:02:21,790 --> 00:02:25,476 MyFBAPrep is a global network 42 00:02:25,476 --> 00:02:29,615 of warehouses that perform prep services, most specifically, 43 00:02:29,615 --> 00:02:32,135 as you may have guessed, for Amazon sellers. 44 00:02:33,076 --> 00:02:35,107 We started in the U.S. 45 00:02:35,107 --> 00:02:37,741 and grew and grew and grew. 46 00:02:37,778 --> 00:02:41,841 We now have actually 58 global warehouses 47 00:02:42,142 --> 00:02:46,958 outside the US, big presences in Canada, the U.K., Germany, 48 00:02:47,748 --> 00:02:50,494 any of the big Amazon marketplaces, and 49 00:02:51,585 --> 00:02:55,347 most recently, Italy, Poland, and a few others. 50 00:02:56,287 --> 00:02:58,657 I often will use this analogy 51 00:02:58,657 --> 00:03:01,968 to explain what MyFBAPrep is to people outside 52 00:03:01,968 --> 00:03:05,918 Amazon who are unfamiliar, and I'll do that now with you guys. 53 00:03:06,783 --> 00:03:10,282 I use an Airbnb analogy and everyone knows what Airbnb is, 54 00:03:10,282 --> 00:03:12,012 which is why the analogy is good. 55 00:03:12,012 --> 00:03:16,452 Airbnb is there to connect travelers with homeowners 56 00:03:17,317 --> 00:03:20,778 and Airbnb has a platform where you can search and transact, 57 00:03:21,831 --> 00:03:24,051 let's say, as the traveler with the homeowners. 58 00:03:24,352 --> 00:03:28,866 So my FBA prep is a platform that connects large e-commerce businesses 59 00:03:29,242 --> 00:03:33,644 with warehouses in our network that perform the services they're looking for. 60 00:03:34,284 --> 00:03:38,648 FBA Prep being obviously the largest and most popular, but we do other things like FBM 61 00:03:39,701 --> 00:03:43,952 direct to consumer bundles, kitting, subscription boxes, etc. 62 00:03:44,591 --> 00:03:48,692 As a slide says we have over 6 million square feet of operating space 63 00:03:48,692 --> 00:03:51,965 and that gets a little bit bigger every month, every two months, 64 00:03:51,965 --> 00:03:56,856 and we do well over a million units prepped per month. 65 00:03:57,307 --> 00:04:00,994 I did check the numbers the other day and found out 66 00:04:01,107 --> 00:04:05,997 last month was right around 1.8 million units prepped 67 00:04:07,540 --> 00:04:09,947 So we're going to we're going to arrange this webinar 68 00:04:10,211 --> 00:04:13,709 into before, during and after prime day tips. 69 00:04:13,709 --> 00:04:17,885 And I think for our listeners out there, the best way to think of this 70 00:04:18,863 --> 00:04:21,309 within those timeframes are 71 00:04:21,309 --> 00:04:24,356 logistics tips and marketing and advertising tips. 72 00:04:25,071 --> 00:04:29,359 I will speak to the logistics and warehousing side and Brittni, 73 00:04:29,359 --> 00:04:32,106 of course, more on the on the marketing and advertising. 74 00:04:33,949 --> 00:04:36,883 So we'll get started with before prime day. 75 00:04:37,147 --> 00:04:40,834 Really, what should you be thinking about from a warehousing 76 00:04:40,834 --> 00:04:44,558 or logistics side in advance of Prime Day? 77 00:04:44,859 --> 00:04:49,599 So clearly the most important thing you can do in preparation for Prime Day 78 00:04:49,862 --> 00:04:53,135 is to ensure you have the right quantity and variety of SKUs at Amazon. 79 00:04:53,474 --> 00:04:56,333 Now, this applies whether you are a private label seller 80 00:04:56,333 --> 00:04:57,875 and you own your own brand 81 00:04:57,875 --> 00:05:01,261 or whether you're a wholesaler or you follow an agency model 82 00:05:01,374 --> 00:05:05,023 where you're selling products from a brand that you don't own. 83 00:05:06,189 --> 00:05:09,124 But the focus here is, of course, getting goods into FBA. 84 00:05:09,500 --> 00:05:12,585 I promise we will get more specific 85 00:05:12,585 --> 00:05:16,008 than this general bit of advice that I'm sure everyone knows already 86 00:05:17,062 --> 00:05:19,808 throughout this webinar, but this is a good starting point. 87 00:05:19,846 --> 00:05:23,231 So if you're thinking about having an increase 88 00:05:23,231 --> 00:05:26,279 in volume or an inventory so that you can sell more, 89 00:05:26,467 --> 00:05:29,627 you'll probably need to learn how to do FBA prep at scale. 90 00:05:30,680 --> 00:05:34,480 You can do something like start sending inventory into Amazon earlier 91 00:05:34,630 --> 00:05:37,640 or you can talk to a third party if you're not doing your own prep 92 00:05:38,844 --> 00:05:42,756 and look at what sort of capacity they have to help you with— 93 00:05:42,756 --> 00:05:46,443 With this point as far as scaling the prep beforehand. 94 00:05:46,481 --> 00:05:48,700 And of course, that's what that's what we do professionally. 95 00:05:50,017 --> 00:05:52,726 If you're a private label seller or even a wholesaler, 96 00:05:52,914 --> 00:05:56,751 it often makes sense to look at suppliers and manufacturers from different regions. 97 00:05:56,977 --> 00:06:00,701 The reason here, of course, is you don't want any single bottleneck 98 00:06:00,701 --> 00:06:04,802 or supply chain failure to cost you an entire Prime Day. 99 00:06:04,839 --> 00:06:08,413 So that diversification strategy can really come in handy 100 00:06:08,413 --> 00:06:11,122 when it comes to making sure you are in fact, able to land 101 00:06:11,460 --> 00:06:14,771 the appropriate amount of inventory at Amazon in advance of prime day. 102 00:06:16,238 --> 00:06:16,802 You also want to 103 00:06:16,802 --> 00:06:20,828 look at your IPI score, which will have an effect on 104 00:06:21,053 --> 00:06:24,138 how many units Amazon will allow you to send in. 105 00:06:24,665 --> 00:06:27,562 There were lots of issues 106 00:06:27,562 --> 00:06:30,684 which I won't go into during COVID with 107 00:06:30,684 --> 00:06:33,506 inventory levels being limited, but right now, I think 108 00:06:33,506 --> 00:06:36,402 if you pay attention to your IPI score and positively 109 00:06:36,666 --> 00:06:40,541 affecting what you can send in, that's the high-level tip here. 110 00:06:41,782 --> 00:06:47,312 And then of course, we get into inventory forecasting a little. 111 00:06:47,839 --> 00:06:50,021 Hey Taylor, I have a question. 112 00:06:50,021 --> 00:06:51,563 Yeah. Yeah. 113 00:06:51,563 --> 00:06:55,777 How much inventory should people think about sending in, especially since 114 00:06:56,228 --> 00:06:59,050 the pandemic has impacted Amazon 115 00:06:59,614 --> 00:07:02,135 in 2020 as well as 2021? 116 00:07:03,639 --> 00:07:05,558 Yeah, that's—that's a great question. 117 00:07:05,558 --> 00:07:10,787 So I think what you're touching on is that in 2021 118 00:07:11,239 --> 00:07:14,925 and 2020 because of the pandemic there, there was often 119 00:07:15,490 --> 00:07:18,387 a massive uptick in increase in sales for sellers. 120 00:07:18,800 --> 00:07:22,224 And so as we're looking at 2022 and seeing how much we need 121 00:07:22,224 --> 00:07:25,271 to send into prime day, you—you have to ask yourself as a seller, 122 00:07:25,271 --> 00:07:29,898 Well, am I going after these maybe inflated numbers from recent years 123 00:07:29,898 --> 00:07:33,999 inflated because of the pandemic? Or do I look at previous years 124 00:07:34,187 --> 00:07:36,820 which were in quote unquote more normal times? 125 00:07:37,460 --> 00:07:39,341 What would I recommend here? 126 00:07:39,341 --> 00:07:43,667 And what you'll see is to base your inventory predictions on 2021. 127 00:07:45,097 --> 00:07:46,338 And the reason for that is 128 00:07:46,338 --> 00:07:49,310 I recommend you err on the side of staying in stock. 129 00:07:50,702 --> 00:07:54,427 Also if you're, if you're thinking that, well, 130 00:07:55,141 --> 00:07:59,054 brick and mortar stores have opened back up, perhaps I'm not anticipating that 131 00:07:59,994 --> 00:08:04,020 I'm going to have quite as high of a year as I did during the pandemic era. 132 00:08:04,810 --> 00:08:06,540 I would encourage you to think again 133 00:08:06,540 --> 00:08:10,265 just about the overall growth that Amazon has year over year. 134 00:08:10,265 --> 00:08:13,425 So the e-commerce pie continues to grow, 135 00:08:14,591 --> 00:08:17,676 more SKUs every day, more shoppers online. 136 00:08:17,902 --> 00:08:20,949 And my guess personally is that many of these 137 00:08:21,964 --> 00:08:25,802 people who are shopping online who previous to the pandemic were not. 138 00:08:25,952 --> 00:08:27,006 I think they'll stick around. 139 00:08:27,006 --> 00:08:29,150 I think they've created their Amazon Prime accounts. 140 00:08:29,188 --> 00:08:33,664 I think they've learned how to use Prime or any other marketplace for that matter. 141 00:08:33,890 --> 00:08:37,088 I don't think they'll necessarily go back to brick and mortar. 142 00:08:37,088 --> 00:08:41,489 So that's why I would say based your predictions on 2021 and that's 143 00:08:41,978 --> 00:08:44,348 actually a really good consideration. Thanks for that, Brittni. 144 00:08:45,853 --> 00:08:46,869 Another thing I 145 00:08:46,869 --> 00:08:51,308 put in this slide is this idea that your top priority 146 00:08:51,609 --> 00:08:56,048 for Prime Day is you're thinking about this is not necessarily making sales. 147 00:08:56,048 --> 00:08:59,472 I mean, of course it's there, but your main goal 148 00:08:59,472 --> 00:09:02,406 that you're protecting yourself against is: I don't want to sell out. 149 00:09:02,858 --> 00:09:08,200 So focus on not selling out even ahead of how many sales you're making. 150 00:09:08,350 --> 00:09:12,338 So you need to order enough to meet demand using past data. 151 00:09:12,601 --> 00:09:16,025 And as I—as I mentioned earlier, and this is a theme throughout, 152 00:09:16,626 --> 00:09:19,373 too much is better than not enough 153 00:09:19,373 --> 00:09:23,887 If you overshoot your—your Prime Day expectations 154 00:09:24,038 --> 00:09:27,612 and you've ordered 10% more inventory than you really needed. 155 00:09:27,837 --> 00:09:28,402 Well, guess what? 156 00:09:28,402 --> 00:09:30,395 That inventory is still in Amazon. 157 00:09:30,395 --> 00:09:32,352 It's out there for sale. 158 00:09:32,352 --> 00:09:35,850 And I think you'll—you'll be fine just having that in FBA 159 00:09:35,926 --> 00:09:39,387 ready to go out for the increased demand that you see afterwards 160 00:09:42,472 --> 00:09:45,030 Another tip and this is—this is really where we're starting 161 00:09:45,030 --> 00:09:48,942 to get a little bit more into, let's say non 162 00:09:48,942 --> 00:09:52,328 commonsense stuff is 163 00:09:52,328 --> 00:09:54,435 keep your inventory close to replenishment. 164 00:09:54,435 --> 00:09:57,369 So what I mean by that is there's really for most sellers, 165 00:09:57,482 --> 00:10:01,394 three steps from the product being manufactured to the product 166 00:10:01,394 --> 00:10:05,382 being in their inventory available to sell on Amazon. 167 00:10:05,608 --> 00:10:08,128 So the manufacturer, if you're in private label 168 00:10:08,128 --> 00:10:10,122 or the distributor, if you're a wholesaler, 169 00:10:10,122 --> 00:10:13,132 this could be overseas, this could also be domestic. 170 00:10:13,320 --> 00:10:14,561 But that's step one. 171 00:10:14,561 --> 00:10:20,468 And so the idea is try to keep inventory at step two which would be your warehouse 172 00:10:20,468 --> 00:10:23,854 it could be your garage or it could be a 3PL provider 173 00:10:23,854 --> 00:10:27,879 Or prep center you're using. Try and have the inventory 174 00:10:28,067 --> 00:10:30,512 that you are not landing at Amazon 175 00:10:31,152 --> 00:10:33,973 ready in step two so that it can quickly be replenished. 176 00:10:34,011 --> 00:10:37,209 So maybe you've done a good job projecting for Prime Day, 177 00:10:37,322 --> 00:10:40,707 but then afterwards you might need to send more inventory in 178 00:10:40,707 --> 00:10:43,529 and you want to eliminate the time between step one and step two. 179 00:10:43,717 --> 00:10:44,695 The best way to do that is 180 00:10:44,695 --> 00:10:48,457 have the inventory at step two, which then of course can easily 181 00:10:48,457 --> 00:10:52,445 be sent into what we're calling step three which is Amazon FBA. 182 00:10:54,514 --> 00:10:55,342 Another 183 00:10:55,342 --> 00:10:57,448 big trend I've seen with many of our clients 184 00:10:58,539 --> 00:11:01,286 is this idea of creating mirror FBM listings. 185 00:11:01,511 --> 00:11:05,650 So if you look at your, let's say, your top sellers and the inventory 186 00:11:05,913 --> 00:11:10,427 or I'm sorry, the ASINs that you're looking to sell the most units of also 187 00:11:10,465 --> 00:11:13,851 creating that ASIN and as an FBM listing, 188 00:11:14,528 --> 00:11:17,914 here's why you want to be able to turn that on in an emergency, 189 00:11:17,914 --> 00:11:20,622 which means if you run out of FBA inventory 190 00:11:21,300 --> 00:11:24,309 So the most common is while I undershot my goal for prime 191 00:11:24,309 --> 00:11:28,146 day, let's say, and lucky enough, you followed the advice 192 00:11:28,146 --> 00:11:31,532 you have inventory at the warehouse you can sell that 193 00:11:32,548 --> 00:11:35,068 —that inventory FBM if you've run out 194 00:11:35,445 --> 00:11:39,545 or the other scenario is when you run out after prime day, let's say 195 00:11:39,733 --> 00:11:43,721 you want to be able to have your FBM listings on. 196 00:11:43,721 --> 00:11:45,640 So you're continuing to make those sales 197 00:11:46,693 --> 00:11:47,483 while that 198 00:11:47,483 --> 00:11:51,508 inventory is in transit going to Amazon's fulfillment centers 199 00:11:51,508 --> 00:11:53,540 and then getting checked in at the fulfillment centers. 200 00:11:54,631 --> 00:11:56,738 That's a—that's a 201 00:11:56,738 --> 00:11:59,559 that's a big thing to think about. 202 00:11:59,559 --> 00:12:02,494 I wanted to share a client example, which is large 203 00:12:02,494 --> 00:12:05,315 electronics company that mainly sells brick and mortar for us. 204 00:12:06,444 --> 00:12:10,507 They were using a 3PL to send in prior to signing up with us, 205 00:12:10,808 --> 00:12:13,290 but it was taking them too long and they were trying to reduce 206 00:12:13,290 --> 00:12:17,767 some of the supply chain timelines they were incurred they were encountering. 207 00:12:17,767 --> 00:12:22,921 So by switching to MyFBAPrep and using a prep center, we were able to bring their 208 00:12:23,749 --> 00:12:26,345 —their replenishment time from 21 days 209 00:12:26,646 --> 00:12:29,091 or working with us, seven days with us. 210 00:12:29,467 --> 00:12:31,649 We actually can typically do it faster than that. 211 00:12:31,649 --> 00:12:34,132 But for this particular client there's a quality control step. 212 00:12:35,298 --> 00:12:38,195 So this 213 00:12:38,195 --> 00:12:41,731 is sort of the first tier of what you should be thinking about 214 00:12:42,070 --> 00:12:45,004 from an inventory replenishment standpoint ahead of Prime. 215 00:12:45,155 --> 00:12:48,277 And now I'll ask Brittni to share with you all what you should be thinking about 216 00:12:48,465 --> 00:12:51,324 from a marketing perspective in advance of Prime Day. 217 00:12:52,528 --> 00:12:53,995 Yeah, absolutely. 218 00:12:53,995 --> 00:12:58,058 So one of the big things about Prime Day is that 219 00:12:58,058 --> 00:13:01,331 Amazon is going to be obviously 220 00:13:02,347 --> 00:13:04,153 bringing a lot of people into Amazon. 221 00:13:04,153 --> 00:13:08,103 They're going to be advertising on their own just to bring people to Amazon. 222 00:13:08,141 --> 00:13:11,940 So this is our time as marketers to really capitalize 223 00:13:11,940 --> 00:13:15,251 on bringing more brand awareness to our partners. 224 00:13:15,251 --> 00:13:20,706 And this is a week ahead of time before Prime Day even starts. 225 00:13:20,706 --> 00:13:23,866 You want to be out there, you want to make your presence known. 226 00:13:24,242 --> 00:13:26,085 So in regards to the funnel, 227 00:13:26,085 --> 00:13:29,471 we are going to be focusing on awareness and consideration. 228 00:13:29,885 --> 00:13:32,556 People a week before Prime Day will start looking. 229 00:13:32,556 --> 00:13:36,544 They're aware of the prime day days, and now they're looking for products 230 00:13:36,581 --> 00:13:40,118 and that's when you want to really expand 231 00:13:40,118 --> 00:13:44,783 and try and focus on your top converting non-branded keywords 232 00:13:44,783 --> 00:13:50,350 and really start driving a full sponsored, product, sponsored brand, sponsored 233 00:13:50,350 --> 00:13:54,790 display strategy so that you are saturating these pages. 234 00:13:54,940 --> 00:13:59,266 So another thing is you want to make sure 235 00:13:59,266 --> 00:14:05,060 that you have enough inventory, which is what Taylor just talked about, 236 00:14:05,286 --> 00:14:09,725 but also detailing out your product pages, 237 00:14:09,725 --> 00:14:13,336 which is what I will be talking about on the next slide. 238 00:14:15,706 --> 00:14:16,271 The listing 239 00:14:16,271 --> 00:14:20,559 optimizations are going to be key for conversion. 240 00:14:20,597 --> 00:14:24,622 So we're introducing people through sponsored product, sponsored display, 241 00:14:24,622 --> 00:14:28,535 sponsored brand the week leading up to Prime Day. 242 00:14:28,610 --> 00:14:31,958 Now we want to make sure that our listing content is up to date 243 00:14:31,958 --> 00:14:35,645 at least one month before the season starts. 244 00:14:36,698 --> 00:14:41,326 Listing optimizations can be updating A plus content, 245 00:14:41,326 --> 00:14:44,561 your pictures, descriptions, keywords 246 00:14:44,561 --> 00:14:47,683 that you want to show for that are more broad. 247 00:14:48,285 --> 00:14:53,853 These are things that are going to be key for discoverability and viability. 248 00:14:53,966 --> 00:14:56,900 So we want to be able to be discoverable 249 00:14:57,088 --> 00:15:00,700 through our keywords, and that's how we use those in our campaigns. 250 00:15:01,264 --> 00:15:04,387 But we also want to improve our viability 251 00:15:04,387 --> 00:15:08,036 we want to put our best foot forward describing our products 252 00:15:08,374 --> 00:15:14,996 and what people can anticipate when they are shopping with your brand. 253 00:15:15,108 --> 00:15:19,849 So one of the best things to do is just have accurate descriptions, 254 00:15:19,849 --> 00:15:23,009 because nothing's worse than going through the whole sales process 255 00:15:23,009 --> 00:15:24,212 Somebody purchasing 256 00:15:24,212 --> 00:15:28,426 and they're not getting what they expected and then returns will follow. 257 00:15:28,426 --> 00:15:31,849 So set those clear expectations and that will help mitigate 258 00:15:31,849 --> 00:15:35,912 some of the returns and poor reviews as time goes along. 259 00:15:37,267 --> 00:15:38,696 I think that's great advice. 260 00:15:38,696 --> 00:15:41,819 Brittni all emphasized from the warehouse’s standpoint, 261 00:15:42,458 --> 00:15:44,941 working with sellers it's much easier 262 00:15:44,979 --> 00:15:48,064 to prevent returns than it is to process them. 263 00:15:48,252 --> 00:15:52,954 It's also very expensive to process them, which we'll touch on in the next section. 264 00:15:52,954 --> 00:15:57,017 But the accurate expectations are the first step to 265 00:15:57,017 --> 00:15:58,823 to avoid returns in the first place. 266 00:15:58,823 --> 00:16:00,817 And I think that's really solid advice. 267 00:16:01,569 --> 00:16:02,284 Absolutely. 268 00:16:02,284 --> 00:16:06,159 And most businesses have that is just something to mention as we lead up 269 00:16:06,159 --> 00:16:10,448 to Prime Day, because it does take a moment for those Amazon algorithms 270 00:16:10,448 --> 00:16:14,586 to really start to understand the product pages after edit. 271 00:16:14,586 --> 00:16:16,316 So keep that in mind. 272 00:16:16,316 --> 00:16:19,589 End of May should be the last-ditch effort 273 00:16:19,589 --> 00:16:21,658 to make any page optimizations 274 00:16:23,314 --> 00:16:27,264 but once we have people 275 00:16:27,452 --> 00:16:31,289 considered into our page and everything else, we want to focus on Amazon deals. 276 00:16:31,289 --> 00:16:35,164 So Amazon deals, particularly Deal of the Day. 277 00:16:35,691 --> 00:16:38,286 Those are going to be due by April 29th. 278 00:16:38,813 --> 00:16:41,183 This is always pretty far ahead of time 279 00:16:42,349 --> 00:16:43,929 and it's approved on the SKU level. 280 00:16:43,929 --> 00:16:46,488 So if you have multiple sellers of the same product 281 00:16:46,826 --> 00:16:49,836 some of the SKUs will be approved and others will not. 282 00:16:50,588 --> 00:16:53,259 In regards to eligibility requirements, 283 00:16:54,313 --> 00:16:58,150 Amazon is pretty strict about those and so this might not be an option 284 00:16:58,150 --> 00:17:01,611 for every brand, but we're going to talk about that as we go along. 285 00:17:02,100 --> 00:17:07,141 But some of the things that Amazon does look at is an established sales history. 286 00:17:07,216 --> 00:17:09,398 So if you're new to Amazon, 287 00:17:09,398 --> 00:17:12,107 chances are you're probably not going to get the deal of the day. 288 00:17:12,182 --> 00:17:14,214 But we'll talk about that later. 289 00:17:14,251 --> 00:17:17,675 You must have at least three star product ratings. 290 00:17:18,841 --> 00:17:22,114 It must be a new condition, Prime eligible for the U.S. 291 00:17:22,114 --> 00:17:24,935 and Puerto Rico, and compliant. 292 00:17:25,236 --> 00:17:28,095 That's a big thing to to be approved for these deals. 293 00:17:28,171 --> 00:17:33,287 Now, when we look at the chart here, the week of Prime Day in regards 294 00:17:33,287 --> 00:17:38,591 to deal of the day performance you typically see 150% increase. 295 00:17:39,005 --> 00:17:40,322 So that's really nice. 296 00:17:40,322 --> 00:17:46,116 Is that after a shot of a 68% increase the week after. 297 00:17:46,868 --> 00:17:52,285 And as marketers, I think there's going to be a longer aftershock after Prime Day. 298 00:17:52,285 --> 00:17:54,580 But I'm going to get to that a little bit later. 299 00:17:59,997 --> 00:18:01,690 And now we're on to coupons. 300 00:18:01,690 --> 00:18:04,813 So coupons are going to be due by June 10th. 301 00:18:05,227 --> 00:18:08,913 Again, we don't know the exact days of Prime Day yet, but 302 00:18:09,628 --> 00:18:12,939 it's either going to be ended June, the middle of July. 303 00:18:13,691 --> 00:18:19,296 But coupons are a great way to provide incentive to purchase your product. 304 00:18:19,786 --> 00:18:22,607 Now, it does have a higher conversion rate. 305 00:18:22,607 --> 00:18:25,090 Typically your competition will be running them. 306 00:18:25,654 --> 00:18:28,476 And one of the best things about coupons 307 00:18:28,476 --> 00:18:31,523 is that they are going to show in all of your advertisements 308 00:18:31,523 --> 00:18:35,736 which help your sponsored display, sponsored brands, sponsored product. 309 00:18:36,188 --> 00:18:41,078 That way, it's kind of a little bit of everywhere, but it does come with that. 310 00:18:41,078 --> 00:18:45,292 $0.60 per redemption price tag that's an Amazon fee. 311 00:18:45,405 --> 00:18:48,302 So keep that in mind when you're setting up those coupons. 312 00:18:49,167 --> 00:18:51,424 And in regards to coupons. 313 00:18:51,687 --> 00:18:53,644 What should you put the coupons on? 314 00:18:53,644 --> 00:18:56,616 Should you put it on your product line, your lowest 315 00:18:56,616 --> 00:18:59,588 selling ASINs or your top selling ASINs? 316 00:19:00,152 --> 00:19:03,237 And our recommendation is your best 317 00:19:03,237 --> 00:19:06,923 sellers are best sellers for a reason and people like what they like. 318 00:19:07,187 --> 00:19:12,040 However, I do think providing a coupon across all of your SKUs, and ASINs, 319 00:19:12,604 --> 00:19:16,855 is very important on Prime Day to have that product offering 320 00:19:16,855 --> 00:19:21,746 and that incentive that don't exclude your best sellers from coupons 321 00:19:21,746 --> 00:19:25,884 because people still want to purchase those and really do like those. 322 00:19:26,749 --> 00:19:31,076 Now, when it comes to percentage off versus dollar off, 323 00:19:31,452 --> 00:19:36,117 what should you choose? And in our experience, a dollar off amount 324 00:19:37,132 --> 00:19:38,524 when you get to higher 325 00:19:38,524 --> 00:19:42,286 values is ideal compared to percentage off. 326 00:19:42,512 --> 00:19:45,484 So for example, if your products $20 327 00:19:45,898 --> 00:19:51,315 and you're offering a 20% discount, I would recommend you go 328 00:19:51,315 --> 00:19:55,152 what the 20% discount rather than the $4 coupon. 329 00:19:55,529 --> 00:19:59,253 But if you put it on the reverse end, it's a $200 product, 330 00:19:59,253 --> 00:20:03,767 similar to what we have on the side here, and it's a $40 coupon. 331 00:20:04,294 --> 00:20:07,492 I think that's more of an incentive as well as we've done 332 00:20:07,492 --> 00:20:10,313 some testing with that and the dollar amounts 333 00:20:10,539 --> 00:20:13,850 to get a little bit higher tend to convert a little bit better. 334 00:20:15,166 --> 00:20:17,010 Other things that we've tested are 335 00:20:17,010 --> 00:20:20,508 limited versus unlimited redemptions, whether pricing 336 00:20:20,546 --> 00:20:24,308 only student prime discount and everything like that. 337 00:20:24,609 --> 00:20:25,625 Not really. 338 00:20:25,625 --> 00:20:29,048 Anything changes when you open up or limit 339 00:20:29,048 --> 00:20:32,020 your audience for these coupons and that eligibility 340 00:20:33,600 --> 00:20:36,685 So I would say do what's best for your brand. 341 00:20:36,723 --> 00:20:39,243 I normally go with the unlimited redemptions. 342 00:20:39,243 --> 00:20:43,570 If I'm really trying to drive sales though, in keeping it open for everybody. 343 00:20:44,360 --> 00:20:47,256 Now, Prime exclusive discounts are great. 344 00:20:48,272 --> 00:20:50,078 They're very similar to coupons. 345 00:20:50,078 --> 00:20:53,576 However, they do have a little bit of a difference 346 00:20:53,576 --> 00:20:58,580 and they're more exclusive and they do come with more restrictions. 347 00:20:58,618 --> 00:21:03,546 So if we're talking about Prime exclusive discounts versus coupons, 348 00:21:03,546 --> 00:21:06,292 I would definitely go the coupon route 349 00:21:08,925 --> 00:21:11,672 And now, we're going to talk about ad structure. 350 00:21:11,709 --> 00:21:13,553 So we're still a week before prime day. 351 00:21:13,553 --> 00:21:15,246 What should we do? 352 00:21:15,246 --> 00:21:20,287 You should be increasing your daily budget by at least 50% to accommodate 353 00:21:20,362 --> 00:21:24,500 the overall awareness traffic and the consideration traffic. 354 00:21:25,027 --> 00:21:29,504 And you should have a full approach utilizing sponsored brand, 355 00:21:29,504 --> 00:21:33,830 sponsored product, and sponsored display. When it comes to sponsor product. 356 00:21:33,830 --> 00:21:37,592 I mentioned this a little bit earlier, but we should be increasing 357 00:21:37,592 --> 00:21:41,542 our top keywords by 25 to 35% for these bids 358 00:21:41,918 --> 00:21:45,417 because it's going to be more competitive, the prices are going to go up 359 00:21:45,417 --> 00:21:47,674 and we just have to stay competitive that way. 360 00:21:48,276 --> 00:21:53,167 My professional opinion would be to focus on non-branded keywords 361 00:21:53,167 --> 00:21:55,161 but also protect your space 362 00:21:55,161 --> 00:21:58,095 and bid up a little bit on those branded key terms as well. 363 00:21:58,095 --> 00:22:01,782 But non-branded is going to be that area 364 00:22:01,782 --> 00:22:04,453 where people are looking for 365 00:22:05,130 --> 00:22:09,795 utilizing keywords to find a product, but they're not sold to a brand yet. 366 00:22:09,795 --> 00:22:12,804 So we need to sell them our brand and that's 367 00:22:12,804 --> 00:22:15,438 where up bidding is going to be important. 368 00:22:16,228 --> 00:22:19,501 Now when we go into sponsored brand ads and sponsored 369 00:22:19,501 --> 00:22:23,601 brand video, you want to increase bids here too. 370 00:22:23,714 --> 00:22:25,859 I'm talking 25 to 35%. 371 00:22:26,272 --> 00:22:31,088 And again, you're, you're going to want to monopolize top of page, 372 00:22:31,088 --> 00:22:36,204 first page, as much as possible the week before, as well as on Prime Day. 373 00:22:36,242 --> 00:22:39,176 So those are really great ways to do that as well. 374 00:22:39,176 --> 00:22:43,239 Sponsored brand videos tend to convert about 25% better 375 00:22:43,991 --> 00:22:47,302 than traditional ads so if you have the ability 376 00:22:47,302 --> 00:22:50,199 to run sponsored brand video definitely do that 377 00:22:50,951 --> 00:22:54,901 and then sponsor display you are going to have access 378 00:22:54,901 --> 00:23:00,130 to all of these audiences with the updates that they gave back in September. 379 00:23:00,431 --> 00:23:04,570 And so we would recommend utilizing lifestyle and interest audiences 380 00:23:05,021 --> 00:23:08,407 to go after people who are looking in specific categories 381 00:23:08,407 --> 00:23:12,056 and who have historically purchased in that category. 382 00:23:12,094 --> 00:23:16,006 That way you're getting in front of shoppers again 383 00:23:16,420 --> 00:23:18,489 You have had history in that area. 384 00:23:18,715 --> 00:23:21,612 And now that we've prepped for Prime Day, 385 00:23:22,853 --> 00:23:24,922 Prime Day is here in our slideshow 386 00:23:25,675 --> 00:23:29,587 so how do you manage everything in Prime Day on those days? 387 00:23:30,791 --> 00:23:33,123 Yes, so Prime Day has arrived. 388 00:23:33,763 --> 00:23:37,487 I thought I thought I'd pause and talk a little bit about 389 00:23:38,616 --> 00:23:42,002 why is Prime Day such a big deal? 390 00:23:42,002 --> 00:23:44,409 The main reason is that there's increased 391 00:23:44,409 --> 00:23:47,908 traffic on the site, which is definitely going to lead to increased sales 392 00:23:48,209 --> 00:23:51,181 if you think of a mall around Christmas time. 393 00:23:52,347 --> 00:23:54,529 Every—every store 394 00:23:54,604 --> 00:23:57,990 whether it's Auntie Annie’s Pretzels or a traditional department store, 395 00:23:58,442 --> 00:24:01,752 benefits from there being more people at the mall during Q4. 396 00:24:01,752 --> 00:24:05,928 And the same is true on Prime Day. Amazon said a great job, 397 00:24:05,928 --> 00:24:09,201 a great job driving traffic to the platform 398 00:24:09,841 --> 00:24:14,618 so that as sellers, we all can sell more inventory and increase our sales. 399 00:24:15,860 --> 00:24:19,095 Another analogy I wanted to—to bring up 400 00:24:19,208 --> 00:24:25,039 is the prime day is sort of like a mini Q4 and what I've put in the first bullet 401 00:24:25,039 --> 00:24:27,936 point here is some advice from 402 00:24:28,274 --> 00:24:30,569 an Amazon educator named Jamie Davidson. 403 00:24:31,246 --> 00:24:33,842 He says about your Q4 goals 404 00:24:33,880 --> 00:24:37,378 he says the top three most important things for Q4 405 00:24:37,567 --> 00:24:40,839 and I'm now translating this to Prime Day, don't run out of inventory, 406 00:24:40,877 --> 00:24:42,909 don't run out of inventory, don't run out of inventory. 407 00:24:43,661 --> 00:24:47,874 I'm making that a theme of my contribution to this webinar, 408 00:24:48,702 --> 00:24:51,862 but that's really what you should be thinking about as Prime Day is here. 409 00:24:51,862 --> 00:24:54,007 You should be looking at your inventory saying Okay, great. 410 00:24:54,345 --> 00:24:55,775 Sales are going up. Sales are going up. 411 00:24:55,775 --> 00:24:57,392 How's my inventory doing? And it's kind of 412 00:24:58,634 --> 00:25:01,643 —it's kind of an interesting game to play because you want your sales to go up. 413 00:25:01,907 --> 00:25:05,029 If you're a sicko like me, you'll be refreshing 414 00:25:05,029 --> 00:25:07,362 the Amazon seller app over and over and over again. 415 00:25:08,641 --> 00:25:11,726 And then the flip side of it is, am I going to run out inventory? 416 00:25:11,726 --> 00:25:17,557 So there's—there's another thing to consider here. 417 00:25:17,557 --> 00:25:19,287 We're talking about supply. We're talking about demand. 418 00:25:19,287 --> 00:25:23,049 We're talking about inventory logistics, and then the marketing advertising side. 419 00:25:23,237 --> 00:25:27,075 I think it's interesting to think about if you run out of supply, 420 00:25:27,827 --> 00:25:30,159 the demand doesn't matter. 421 00:25:30,159 --> 00:25:34,749 If you run out of inventory, all of these important and interesting 422 00:25:34,749 --> 00:25:38,135 things Brittni is recommending we do to increase our sales 423 00:25:38,662 --> 00:25:41,746 don't matter because you can't make sales if you're out of inventory. 424 00:25:42,762 --> 00:25:43,627 So your 425 00:25:43,627 --> 00:25:48,781 focus will—will very quickly change back to the supply side or the inventory side 426 00:25:49,007 --> 00:25:52,506 as opposed to the marketing and the sales side. 427 00:25:52,543 --> 00:25:56,230 If you run out of inventory and so Brittni, maybe you could touch on 428 00:25:57,095 --> 00:25:59,315 a few other things 429 00:25:59,466 --> 00:26:01,459 behind the scenes or from a marketing perspective, 430 00:26:01,685 --> 00:26:05,259 Why is it so bad to run out of stock on your ASINs during Prime Day? 431 00:26:06,651 --> 00:26:09,134 Yeah, absolutely. 432 00:26:09,134 --> 00:26:11,241 As a marketer, nothing 433 00:26:12,031 --> 00:26:15,755 you know, you put in so much work with optimizing and keywords 434 00:26:15,755 --> 00:26:19,479 and trying to target the right competitors that once 435 00:26:19,479 --> 00:26:23,768 you are out of inventory, there's nothing for you to sell, your campaigns 436 00:26:23,768 --> 00:26:25,649 Stop working. 437 00:26:25,912 --> 00:26:28,508 I mean, they'll still be on, but nobody can purchase. 438 00:26:28,508 --> 00:26:30,878 So you're going to see your conversions go down 439 00:26:32,082 --> 00:26:33,625 and it's just kind of a mess. 440 00:26:33,625 --> 00:26:39,117 So, I mean, I enjoy pushing the envelope and if I can sell through 441 00:26:39,117 --> 00:26:42,428 all of the inventory even the 10% more 442 00:26:42,428 --> 00:26:45,625 that you send in, I'm happy to do that. 443 00:26:45,625 --> 00:26:49,801 And ultimately, I need to sell at the most efficient rate that I can. 444 00:26:49,801 --> 00:26:51,946 But it also brings down my efficiency. 445 00:26:52,284 --> 00:26:55,708 If even if you have variations and somebody goes on there 446 00:26:55,708 --> 00:26:58,604 and you only have one variation out of ten 447 00:26:58,604 --> 00:27:01,840 that's still in stock, that's only option that they have, 448 00:27:01,840 --> 00:27:03,533 and they kind of feel like they're missing out. 449 00:27:03,533 --> 00:27:07,558 So definitely do not run out of inventory. 450 00:27:07,558 --> 00:27:10,868 Otherwise, all the building that you've done for your ad campaigns 451 00:27:10,868 --> 00:27:13,690 is just not going to really go anywhere. 452 00:27:13,916 --> 00:27:16,022 And that's not good for anybody. 453 00:27:16,925 --> 00:27:19,747 Yeah. Taking that conversion metric hit 454 00:27:20,838 --> 00:27:21,665 is not ideal. 455 00:27:21,665 --> 00:27:24,562 And also, if you're 456 00:27:24,600 --> 00:27:28,550 —if you're ASINs and stop selling, the BSR will 457 00:27:30,243 --> 00:27:32,951 increase, which is adversely favorable, right? 458 00:27:32,951 --> 00:27:37,503 You want the lowest BSR, meaning the number one product and you're 459 00:27:37,503 --> 00:27:42,206 missing out on that ranking juice. I'm I'm not a marketing guy like Brittni is. 460 00:27:42,206 --> 00:27:44,200 So I can use these non-technical terms. 461 00:27:44,200 --> 00:27:48,902 But again, your Amazon ranking juice is gone when you're out of stock. 462 00:27:48,902 --> 00:27:52,025 So don't want that to happen. 463 00:27:52,363 --> 00:27:54,470 So again, this idea of 464 00:27:54,470 --> 00:27:56,915 you got to manage the supply and the demand. 465 00:27:57,969 --> 00:28:01,054 Brittni is talking about things that will increase the demand, 466 00:28:01,054 --> 00:28:05,530 but all of that only matters when you have—have supply. 467 00:28:05,530 --> 00:28:09,970 So I'm going to ask her to touch on some of these demand initiatives 468 00:28:10,271 --> 00:28:12,377 like cost per click deals, coupons, 469 00:28:13,054 --> 00:28:14,258 Monitoring the competition, 470 00:28:15,650 --> 00:28:16,403 We'll see. 471 00:28:16,403 --> 00:28:19,525 We'll see what we can learn from what she's recommending we do. 472 00:28:20,466 --> 00:28:25,093 Yeah, I would definitely the week of Prime or before Prime Day. 473 00:28:25,394 --> 00:28:27,689 Take a look at what your competitors are doing. 474 00:28:27,689 --> 00:28:31,865 Know, where their strengths are and also in turn, 475 00:28:33,031 --> 00:28:35,890 defend your space, which I will get to in a little bit. 476 00:28:35,890 --> 00:28:38,937 But what your focus should be on Prime 477 00:28:38,937 --> 00:28:44,618 Day is top of page, first page, and you're going to want to increase 478 00:28:44,618 --> 00:28:49,772 your top performing keywords again by another 35 to 50%. 479 00:28:50,261 --> 00:28:54,399 You want to have them pretty high so that you're consistently there, 480 00:28:54,399 --> 00:28:58,086 but you want to make sure that you have enough money 481 00:28:58,086 --> 00:29:00,757 throughout the day to show for most of the day. 482 00:29:01,208 --> 00:29:04,744 So that's another thing is just making sure that you increase 483 00:29:04,744 --> 00:29:10,049 your daily budgets with what you feel is correct for your brand. 484 00:29:10,049 --> 00:29:14,037 Every product and every brand is different and you are going to know 485 00:29:14,037 --> 00:29:15,165 what is best for them. 486 00:29:15,165 --> 00:29:18,250 So look at the historical data, look at the competition 487 00:29:18,401 --> 00:29:22,915 and look at the SKU in the sales data and make your determinations there 488 00:29:22,915 --> 00:29:25,661 when you're adjusting some of these campaigns. So, 489 00:29:26,639 --> 00:29:27,881 for example, if you 490 00:29:27,881 --> 00:29:33,185 typically have a campaign that is $50 a day, you might consider increasing it 491 00:29:33,185 --> 00:29:37,700 to $100 or even $200 for the day. 492 00:29:38,076 --> 00:29:41,386 And especially with Prime Day typically being two days, 493 00:29:41,687 --> 00:29:45,148 you want to have enough budget that you are showing throughout the day. 494 00:29:45,148 --> 00:29:49,889 Your ads never go down and you stay competitive and you really capitalize on that. 495 00:29:50,603 --> 00:29:55,757 Another way of doing that is adding good multipliers for top of search 496 00:29:55,757 --> 00:30:01,175 for your sponsored product ads. You can go up by 25%. 497 00:30:01,175 --> 00:30:04,673 So for example, if you're bidding $1 for a keyword, 498 00:30:04,974 --> 00:30:09,301 you are telling Amazon, I am willing to bid up to $1.25 499 00:30:09,489 --> 00:30:12,611 in order to get top of page first page placement. 500 00:30:13,288 --> 00:30:16,110 I would even recommend going higher than that. 501 00:30:16,110 --> 00:30:18,442 If you see it fit for that product. 502 00:30:19,157 --> 00:30:20,323 If you think of that 503 00:30:21,640 --> 00:30:21,941 you're 504 00:30:21,941 --> 00:30:25,176 going to be winning the more you are on the first page. 505 00:30:25,176 --> 00:30:29,615 Your product has great reviews competitive and price and has a really good 506 00:30:30,669 --> 00:30:32,399 product detail page. 507 00:30:32,399 --> 00:30:37,252 I would recommend even going higher than that 25. Morning of prime day. 508 00:30:37,252 --> 00:30:38,230 You still want to check in 509 00:30:38,230 --> 00:30:41,880 on those coupons and lightning deals, see how they're doing, what's going on, 510 00:30:42,293 --> 00:30:45,604 but also use the capabilities of sponsored display. 511 00:30:45,604 --> 00:30:47,372 I cannot emphasize this enough. 512 00:30:47,372 --> 00:30:50,796 Sponsor Display has been a huge game changer 513 00:30:51,134 --> 00:30:54,257 specifically for this past holiday season for us, 514 00:30:54,670 --> 00:30:59,937 but some of the ways we utilize sponsored bran— or sponsored display is going to be 515 00:31:00,201 --> 00:31:04,038 connecting with brand tailored shoppers through purchase or marketing. 516 00:31:04,527 --> 00:31:08,627 I would recommend this if your product is something that people buy often 517 00:31:09,530 --> 00:31:12,089 or multiples of, and then we re- 518 00:31:12,352 --> 00:31:14,985 targeting them based on their past purchases. 519 00:31:15,700 --> 00:31:18,033 If your product is more of a one and done, 520 00:31:18,597 --> 00:31:23,676 I would connect with them and in-market shoppers by using audience targeting. 521 00:31:23,676 --> 00:31:26,836 So looking at the audiences defining them out 522 00:31:26,873 --> 00:31:28,867 and then advertising that way. 523 00:31:29,620 --> 00:31:33,682 Another thing I would do is develop our defensive strategy 524 00:31:33,682 --> 00:31:36,730 with sponsored display and retarget your own product 525 00:31:36,730 --> 00:31:39,476 listing pages to try and defend your space. 526 00:31:40,266 --> 00:31:42,448 A lot of people are going to be competitive. 527 00:31:42,486 --> 00:31:44,367 It's kind of cutthroat a little bit. 528 00:31:44,367 --> 00:31:46,925 So you want to protect your space. 529 00:31:46,925 --> 00:31:47,978 And you'd be surprised 530 00:31:47,978 --> 00:31:52,568 how many new brand orders are generated from a defensive strategy 531 00:31:52,568 --> 00:31:57,646 and targeting your own product pages. Especially if you have a large account, 532 00:31:58,211 --> 00:32:02,612 retargeting it with different variations or other types of your product line. 533 00:32:02,650 --> 00:32:08,255 That I think is just showcases more of your brand and the products. 534 00:32:08,293 --> 00:32:12,130 And a lot of I've used this for quite some time 535 00:32:12,130 --> 00:32:15,366 and it's definitely converted very well at a very low cost. 536 00:32:15,366 --> 00:32:18,827 So there's a take away, be defensive, 537 00:32:18,827 --> 00:32:22,476 but also be offensive in your sponsored display strategy. 538 00:32:24,470 --> 00:32:25,184 All right. 539 00:32:25,184 --> 00:32:27,216 So now we're done with Prime Day. 540 00:32:27,667 --> 00:32:29,435 What—what do we do? 541 00:32:29,435 --> 00:32:30,526 We're over that hill. 542 00:32:30,526 --> 00:32:33,611 What happens now after Prime Day? 543 00:32:33,875 --> 00:32:36,508 You're probably going to see 544 00:32:36,508 --> 00:32:38,652 some returns and other things like that. 545 00:32:38,652 --> 00:32:40,684 But I'll let Taylor speak to that. 546 00:32:42,113 --> 00:32:44,521 But we're going to be running a poll real quick 547 00:32:45,161 --> 00:32:47,380 about this question. 548 00:32:47,644 --> 00:32:51,819 Do you tend to see a comparable amount of returns after Prime Day 549 00:32:52,008 --> 00:32:55,017 versus the holidays? 550 00:32:55,017 --> 00:32:57,011 We want to hear from you about this. 551 00:32:57,011 --> 00:33:01,826 In my personal opinion, on Prime Day, people are shopping for themselves 552 00:33:01,826 --> 00:33:05,588 and people in their immediate family in their household. 553 00:33:05,965 --> 00:33:10,103 So it's more of a I want, whereas during the holidays, it's a 554 00:33:10,140 --> 00:33:13,188 you want their shopping for everybody else. 555 00:33:14,805 --> 00:33:17,063 So I think that because it's 556 00:33:17,063 --> 00:33:19,884 more centered on what I want, 557 00:33:20,411 --> 00:33:23,195 I don't think there will be as many returns. 558 00:33:23,195 --> 00:33:25,565 But there will be returns. You can never avoid it. 559 00:33:25,978 --> 00:33:27,258 But we want to hear from you 560 00:33:35,496 --> 00:33:35,985 all right. 561 00:33:35,985 --> 00:33:39,446 It looks like we've got a fair number of responses to the poll 562 00:33:40,236 --> 00:33:43,660 so we'll keep moving forward in the presentation. 563 00:33:44,488 --> 00:33:46,745 And Brittni, 564 00:33:46,745 --> 00:33:49,867 do you know if we're going to if we're going to 565 00:33:49,867 --> 00:33:52,313 announce the results of the poll at the end of the presentation, 566 00:33:52,313 --> 00:33:55,435 or is it something we want to do now? 567 00:33:55,924 --> 00:33:57,956 That is a great question. 568 00:33:57,956 --> 00:34:02,432 I think we are. I can pop into answer that. 569 00:34:02,470 --> 00:34:04,915 We will cover that during the Q&A 570 00:34:06,458 --> 00:34:07,097 during the Q&A. 571 00:34:07,097 --> 00:34:07,662 Okay. 572 00:34:07,662 --> 00:34:12,439 Matthew is Kaspien's version of Alexa, and he's always there when you need him. 573 00:34:12,439 --> 00:34:14,659 Thanks for that, Matthew. 574 00:34:15,073 --> 00:34:17,217 I can attest to that. 575 00:34:17,217 --> 00:34:17,894 Yeah. 576 00:34:17,894 --> 00:34:20,415 So we're—we're in after Prime Day now. 577 00:34:20,979 --> 00:34:24,591 Unfortunately, this is the not fun part 578 00:34:24,591 --> 00:34:27,487 about post Prime or even post Q4 day. 579 00:34:28,353 --> 00:34:31,099 And this is factors to consider in a returns program. 580 00:34:31,400 --> 00:34:34,936 Now, MyFBAPrep, we handle quite a bit of Amazon 581 00:34:34,936 --> 00:34:38,247 returns from our clients and I've just pulled together 582 00:34:38,435 --> 00:34:41,407 some things for you to think about because it's not fun. 583 00:34:41,407 --> 00:34:42,874 I'm going to go through it quickly 584 00:34:44,153 --> 00:34:44,793 but really 585 00:34:44,793 --> 00:34:47,501 you get into a little bit more mechanics behind 586 00:34:48,555 --> 00:34:50,285 things like FBA versus FBM. 587 00:34:50,285 --> 00:34:54,724 So in terms of returns, if you're curious, well, who covers shipping 588 00:34:55,439 --> 00:34:58,223 within the FBA program, the seller doesn't pay shipping. 589 00:34:58,223 --> 00:35:02,813 That's actually included in the fees, which roughly 590 00:35:02,813 --> 00:35:06,575 I think the stamp most sellers uses about 30% on FBA. 591 00:35:07,177 --> 00:35:11,164 If you're selling through merchant fulfillment or FBM or seller 592 00:35:11,164 --> 00:35:15,114 fulfilled prime, then you as the seller actually have to pay 593 00:35:15,302 --> 00:35:19,516 for the return shipping to your warehouse, wherever that may be. 594 00:35:20,381 --> 00:35:23,353 When a customer wants to return your product. 595 00:35:23,391 --> 00:35:26,852 So this is something it's good to know ahead of time, 596 00:35:26,852 --> 00:35:31,404 but we put it in the after section just because it has to do with returns 597 00:35:32,457 --> 00:35:35,881 and all of the Prime Day fun is over. So 598 00:35:37,160 --> 00:35:39,342 in terms of the customer service side. 599 00:35:39,342 --> 00:35:42,539 Yeah, just like shipping on for FBA 600 00:35:43,104 --> 00:35:47,016 Amazon typically is going to handle those the customer service questions. 601 00:35:47,242 --> 00:35:51,343 Whereas if you are selling Merchant Fulfilled or SFP, 602 00:35:51,982 --> 00:35:55,706 you will often get those customer complaints. 603 00:35:55,706 --> 00:35:59,544 Let's say the wrong variation, the wrong size, the wrong color of an item was sent. 604 00:36:00,296 --> 00:36:03,042 Those customers will email you as the seller directly. 605 00:36:04,773 --> 00:36:07,670 And then if you're thinking about, okay, well I don't want to lose 606 00:36:07,670 --> 00:36:12,447 all of the cost of that inventory, what do I do? 607 00:36:13,200 --> 00:36:16,999 One recommendation I have is pay for returns 608 00:36:17,526 --> 00:36:21,363 at our company included in processing a returns 609 00:36:21,363 --> 00:36:25,088 unit comes this quality inspection, which is basically to say, 610 00:36:25,313 --> 00:36:29,038 can this go back in is brand new or does it need to be sold as used? 611 00:36:29,640 --> 00:36:30,656 Um probably 612 00:36:30,656 --> 00:36:34,229 not going to go too deep into this, but if you're thinking about a book, 613 00:36:34,418 --> 00:36:39,910 you have multiple conditions like acceptable, good, used, okay, 614 00:36:39,910 --> 00:36:45,591 Use like new, a brand new, for the majority of the inventory that we process 615 00:36:45,591 --> 00:36:50,782 in our warehouse is it either goes back in brand new or it goes in as used good. 616 00:36:51,459 --> 00:36:54,168 There's lots of good testing that—that 617 00:36:55,184 --> 00:36:55,673 is done 618 00:36:55,673 --> 00:36:59,548 to recommend well should use your product in this condition 619 00:36:59,548 --> 00:37:00,940 And how will it sell. 620 00:37:00,940 --> 00:37:04,025 But by and large, we want to we want to send stuff back into Amazon 621 00:37:04,025 --> 00:37:07,072 under those two categories 622 00:37:07,072 --> 00:37:09,404 For—for any non-book inventory, it's 623 00:37:09,404 --> 00:37:12,602 typically brand new has the cellophane 624 00:37:12,602 --> 00:37:15,687 wrap on it let's say or use like new 625 00:37:15,687 --> 00:37:17,681 if it's in like new condition. 626 00:37:20,916 --> 00:37:23,437 And then for return goods 627 00:37:24,640 --> 00:37:27,650 if it's FBM it's easy to process an exchange 628 00:37:27,650 --> 00:37:31,562 which is the second bullet point most customers, the behavior that Amazon 629 00:37:31,562 --> 00:37:36,190 has has taught with this customer centric focus is ask for a refund, 630 00:37:36,491 --> 00:37:38,522 You can just order the product new again. 631 00:37:38,522 --> 00:37:41,494 But if you are selling FBM or SFP, 632 00:37:41,645 --> 00:37:44,203 you can ask the customer, would you like to exchange the item? 633 00:37:44,504 --> 00:37:47,438 And then if you're selling on a platform that's not Amazon, 634 00:37:47,438 --> 00:37:51,802 maybe your own Shopify store you can actually give them a credit. 635 00:37:51,990 --> 00:37:55,940 Typically, this makes the most sense when you host a number of SKUs 636 00:37:55,940 --> 00:37:58,950 so that let's say you're selling 637 00:37:58,950 --> 00:38:01,395 beauty products, a customer who's bought 638 00:38:01,960 --> 00:38:05,646 a shampoo from you might want to buy a topical lotion instead. 639 00:38:07,038 --> 00:38:07,414 That's the 640 00:38:07,414 --> 00:38:10,123 extent of my knowledge as far as the beauty category goes. 641 00:38:11,440 --> 00:38:15,014 So, Brittni, let's talk about marketing after Prime Day. 642 00:38:15,540 --> 00:38:17,083 Yeah, absolutely. 643 00:38:17,083 --> 00:38:20,393 So we call it the Turkey Five, 644 00:38:21,071 --> 00:38:25,359 sort of Black Friday, Cyber Monday, Thanksgiving timeframe. 645 00:38:25,359 --> 00:38:29,121 But we think Prime Day is the pilot for Turkey Five 646 00:38:29,121 --> 00:38:30,739 and the holiday shopping season. 647 00:38:30,739 --> 00:38:34,764 So really taking all the data that you learned from Prime Day 648 00:38:34,764 --> 00:38:38,639 is going to be vital to helping build your campaigns. 649 00:38:38,752 --> 00:38:42,928 Or adjust your ad campaigns during the upcoming holiday season. 650 00:38:42,965 --> 00:38:46,765 Now, what are the echoes or aftershocks of Prime Day? 651 00:38:46,765 --> 00:38:50,188 You are going to see specifically what Deal of the Day. 652 00:38:50,188 --> 00:38:54,214 But everything else is an aftershock of about a week 653 00:38:54,214 --> 00:38:58,089 or two of increased sales before it'll really die down 654 00:38:58,691 --> 00:39:02,528 However, how marketers can really go after 655 00:39:02,528 --> 00:39:05,951 the audiences that are going to be developed over Prime Day, 656 00:39:06,704 --> 00:39:09,939 it's going to be with those sponsored display audience targeting ads 657 00:39:09,939 --> 00:39:14,754 so you can look back 30, 60, 90 or 120 days, 658 00:39:14,905 --> 00:39:18,215 which puts you in about September or October timeframe. 659 00:39:18,629 --> 00:39:23,445 We're retargeting shoppers who have interacted with your product 660 00:39:23,445 --> 00:39:25,965 or interacted with your competitor products, 661 00:39:25,965 --> 00:39:29,878 and we've just never had so much data specifically 662 00:39:29,878 --> 00:39:34,204 from Prime Day than we have right now with sponsored display ads. 663 00:39:34,242 --> 00:39:39,170 So we utilizing that information that you receive to go after shoppers 664 00:39:39,170 --> 00:39:42,744 time and time again, of course, if your product allows that, again, 665 00:39:42,744 --> 00:39:46,581 if it's a one and done product, that might be the best strategy. But 666 00:39:46,581 --> 00:39:51,584 if it's something you buy multiple times or multiple variations of, go for it. 667 00:39:52,788 --> 00:39:55,271 Also, remember to reduce your budgets in your bids, 668 00:39:56,024 --> 00:39:58,845 you don't want to be over spending on all of those. 669 00:39:58,845 --> 00:40:02,946 After that one week to two week timeframe, you're going to see your ACOS go 670 00:40:02,946 --> 00:40:04,977 really up that way. 671 00:40:04,977 --> 00:40:09,191 And then again, still some trickling from Prime Day will happen. 672 00:40:09,191 --> 00:40:13,141 So just take in as much data as possible. 673 00:40:13,141 --> 00:40:15,962 What ad types worked through your product? 674 00:40:15,962 --> 00:40:19,988 What didn't If there's different creative assets that you use 675 00:40:19,988 --> 00:40:23,599 for your sponsor display and sponsor brand, or brand video ads, 676 00:40:24,013 --> 00:40:28,527 really documenting what resonated with consumers what key words worked, 677 00:40:28,527 --> 00:40:31,988 and then keeping out of that, optimizing your campaigns 678 00:40:32,327 --> 00:40:34,848 and ultimately preparing for the Turkey Five, 679 00:40:35,713 --> 00:40:37,895 six months down the road. 680 00:40:44,704 --> 00:40:46,021 All right. 681 00:40:46,021 --> 00:40:48,316 That is our webinar for today. 682 00:40:49,256 --> 00:40:51,400 First, let me thank our speakers, Brittni 683 00:40:51,400 --> 00:40:54,071 and Taylor have you covered a lot of ground there. 684 00:40:54,786 --> 00:40:58,699 And so thank you for taking the time and sharing your expertise with us. 685 00:40:59,376 --> 00:41:01,520 Now we're going to jump into the live Q&A 686 00:41:02,160 --> 00:41:05,169 so we do have some questions that came in during the webinar. 687 00:41:05,169 --> 00:41:06,561 I'll start with those. 688 00:41:06,561 --> 00:41:08,819 And if you have any questions, please go ahead. 689 00:41:08,819 --> 00:41:12,543 Throw those in chat and we'll hop into those as well. 690 00:41:13,371 --> 00:41:16,869 Before we do that, though, I'd like to share our poll results. 691 00:41:17,998 --> 00:41:19,051 Question was, do you 692 00:41:19,051 --> 00:41:22,399 tend to see comparable volumes of returns 693 00:41:23,114 --> 00:41:25,860 after Prime Day as you do to the holiday season? 694 00:41:26,462 --> 00:41:30,300 Have 54% say yes that they do see comparable returns 695 00:41:30,563 --> 00:41:34,175 with 46% say no they don’t, that there's a difference. 696 00:41:35,980 --> 00:41:39,554 My sneaking suspicion is that that might be related to product category 697 00:41:39,930 --> 00:41:42,902 that depending on the product type if it's a repeat purchase or not 698 00:41:45,197 --> 00:41:48,771 what type of I guess just that product category will have a factor. 699 00:41:48,771 --> 00:41:51,668 But I'm curious Taylor, Brittni if either of you have 700 00:41:51,668 --> 00:41:54,264 input on those results 701 00:41:54,903 --> 00:41:58,063 I'm along the same lines as you, Matthew, in regards to 702 00:41:58,327 --> 00:42:05,098 I think it all depends on the products and maybe in you know, in me talking about, oh, 703 00:42:05,512 --> 00:42:09,763 Prime Day is more so what I want versus what I'm getting everybody else. 704 00:42:10,139 --> 00:42:11,155 Maybe sometimes 705 00:42:11,155 --> 00:42:14,992 I backtrack on those purchases so I can understand it from that regard. 706 00:42:15,669 --> 00:42:16,610 Any thoughts, Taylor? 707 00:42:18,416 --> 00:42:21,425 No, it's—it's actually something that I want to take away 708 00:42:21,425 --> 00:42:27,068 and ask our clients at MyFBAPrep and see what see what they have to say. 709 00:42:27,896 --> 00:42:30,529 Matthew's idea about it being category specific 710 00:42:32,147 --> 00:42:33,577 tends to be where I would 711 00:42:33,577 --> 00:42:38,505 go as a hypothesis, but I don't—I don't have any forecasts 712 00:42:38,505 --> 00:42:41,514 or a crystal ball to say how accurate those results are. 713 00:42:41,514 --> 00:42:43,170 Interesting that it was split. 714 00:42:43,170 --> 00:42:43,696 Yeah. Yeah. 715 00:42:43,696 --> 00:42:46,443 I was not expecting it to be so 50/50 716 00:42:48,700 --> 00:42:49,377 split. 717 00:42:49,866 --> 00:42:50,393 Sorry. 718 00:42:50,393 --> 00:42:54,305 I said if there was a crystal ball It would be on Amazon for sure. 719 00:42:54,456 --> 00:42:57,917 So yeah, I'll be buying one. 720 00:42:59,384 --> 00:43:01,491 Let's dove into our questions here. 721 00:43:02,619 --> 00:43:04,688 This one I'll 722 00:43:05,065 --> 00:43:05,667 push to you. 723 00:43:05,667 --> 00:43:08,150 Taylor, on the logistics front, 724 00:43:08,150 --> 00:43:11,385 we're talking about ensuring we get inventory and you touch on how long 725 00:43:11,385 --> 00:43:15,373 before we should be prepping this material and sending it to FBA. 726 00:43:16,727 --> 00:43:19,887 I think this year is June 20th. 727 00:43:20,451 --> 00:43:23,348 I'd need to double check that, but I believe it's June 20th is the date 728 00:43:23,348 --> 00:43:29,593 that's been given that you need to have your inventory in for, for Prime Day. 729 00:43:29,593 --> 00:43:31,775 And Brittni touched on this briefly. 730 00:43:32,527 --> 00:43:33,919 I'll just reiterate it. 731 00:43:33,919 --> 00:43:35,951 We don't know when Prime Day is. 732 00:43:35,951 --> 00:43:39,337 I've seen between July 12th and July 20th. 733 00:43:39,337 --> 00:43:41,744 Typically it's two days. 734 00:43:41,744 --> 00:43:43,437 Prime day lasts for—for two days. 735 00:43:43,437 --> 00:43:46,560 And so it will very likely be within that time frame. 736 00:43:47,049 --> 00:43:49,644 Amazon hasn't let us know yet, but you can 737 00:43:50,660 --> 00:43:53,181 you can just search within the seller central platform. 738 00:43:53,181 --> 00:43:57,770 I believe it's June 20th is the last day they'll accept inventory 739 00:43:58,297 --> 00:44:01,006 for let's say your—your Deal of the Day or lightning deals 740 00:44:02,097 --> 00:44:05,746 and it's it's about a similar advance if you think of 741 00:44:05,784 --> 00:44:09,395 two for Amazon will remind you with an email as a seller saying 742 00:44:09,696 --> 00:44:13,684 hey if you want your goods to be sold and delivered before Christmas 743 00:44:13,909 --> 00:44:18,499 you must get them in by December 4th or etc. etc. 744 00:44:18,687 --> 00:44:22,035 They—they will let you know ahead of time if 745 00:44:23,728 --> 00:44:26,174 I have a question for you Brittni. 746 00:44:26,174 --> 00:44:30,199 It's does this apply to online arbitrage sellers? 747 00:44:30,199 --> 00:44:32,945 And I believe that they are referring to 748 00:44:35,278 --> 00:44:36,482 the risk of selling out 749 00:44:36,482 --> 00:44:39,378 and the impact that running out of stock has on ASINs. 750 00:44:39,717 --> 00:44:42,689 So does online arbitrage, 751 00:44:43,027 --> 00:44:46,714 the risk of running out of inventory affect rankings across the ranking 752 00:44:46,865 --> 00:44:50,740 or as you see across the listing, if there are multiple sellers in it? 753 00:44:52,056 --> 00:44:55,028 I, I do believe so. 754 00:44:55,028 --> 00:44:59,768 I just would not run out of inventory, especially with multiple sellers. 755 00:44:59,768 --> 00:45:02,515 I think it has a negative impact all the way through 756 00:45:03,380 --> 00:45:05,750 and I think I can add to that 757 00:45:06,916 --> 00:45:10,904 we don't take a lot of online arbitrage sellers, but we still have some. 758 00:45:11,957 --> 00:45:15,155 And actually this applies for booksellers as well. 759 00:45:16,058 --> 00:45:19,519 Booksellers are a great example for this because when you sell a book, you 760 00:45:19,519 --> 00:45:24,033 typically if if it's a used book, you're getting one of that title at a time. 761 00:45:24,071 --> 00:45:28,021 And so, well, what is Amazon do to me if I run out of stock? 762 00:45:28,021 --> 00:45:31,783 I never was even supposed to have, say, 20 of this title in stock. 763 00:45:32,498 --> 00:45:36,147 It does negatively affect your IPI score. 764 00:45:36,297 --> 00:45:40,285 A lot of booksellers cannot scale past a certain amount 765 00:45:40,285 --> 00:45:44,047 because the more inventory they have when it goes from one to zero, 766 00:45:44,612 --> 00:45:46,869 then will adversely affect their IPI score 767 00:45:46,869 --> 00:45:50,668 And now all of a sudden you can't send more books to F to FBA. 768 00:45:50,969 --> 00:45:52,963 That is why you see so many booksellers 769 00:45:54,543 --> 00:45:56,123 delivering FBM 770 00:45:56,123 --> 00:45:58,192 because at some point they just can't, 771 00:45:59,020 --> 00:46:02,255 They can't please the algorithm, which is very funny 772 00:46:02,255 --> 00:46:08,275 because anyone who knows Amazon well knows that Jeff Bezos called Books his first 773 00:46:08,275 --> 00:46:11,961 best product to sell where he wanted to go long tail on millions of books. 774 00:46:12,262 --> 00:46:15,460 That's really what Amazon was built on originally, 775 00:46:15,648 --> 00:46:20,351 and now they sort of ding, if you will, Amazon sellers for selling books. 776 00:46:20,652 --> 00:46:23,548 That's a whole other topic for an online arbitrage seller. 777 00:46:23,774 --> 00:46:27,536 Here's what you do. When you go to zero on a unit. 778 00:46:27,875 --> 00:46:30,546 You delete that ASIN from your inventory. 779 00:46:30,734 --> 00:46:32,765 And now when the algorithm runs it's 780 00:46:32,765 --> 00:46:37,129 not showing that you have zero units for that particular ASIN. 781 00:46:37,129 --> 00:46:39,349 And so that's what I've heard people do. 782 00:46:39,349 --> 00:46:44,465 I'm not super familiar with OA myself, but I've heard that's—that's how 783 00:46:44,465 --> 00:46:48,039 you make sure that your IPI score stays high when you do run out of inventory. 784 00:46:50,522 --> 00:46:51,237 You touched on 785 00:46:51,237 --> 00:46:54,773 FBM and we actually have a question relates that's my segue right into it. 786 00:46:55,450 --> 00:47:00,491 Question is we currently only sell FBM and plan to sell FBA this month. 787 00:47:00,717 --> 00:47:04,178 Does our sales history count towards getting Amazon 788 00:47:04,178 --> 00:47:05,796 Deal of the day? 789 00:47:07,451 --> 00:47:10,235 So I guess are their 790 00:47:10,235 --> 00:47:13,395 performance metrics that they're getting as an FBM seller, 791 00:47:13,395 --> 00:47:17,157 is that supporting their bargaining position 792 00:47:17,157 --> 00:47:21,107 or their eligibility for deals 793 00:47:21,822 --> 00:47:23,891 I can't speak to this one with certainty. 794 00:47:24,305 --> 00:47:26,035 Brittni, do you know? 795 00:47:26,524 --> 00:47:28,782 I would say 796 00:47:30,098 --> 00:47:32,920 I that one's kind of difficult. 797 00:47:32,920 --> 00:47:39,165 I feel like with Prime Deal of the Day, Prime Day exclusives, 798 00:47:39,165 --> 00:47:43,152 and things like that, that they do focus a lot on Prime. 799 00:47:43,867 --> 00:47:48,194 So that is a good question I would really like to follow up on. 800 00:47:48,607 --> 00:47:50,564 So I don't give any misinformation. 801 00:47:51,617 --> 00:47:51,956 Yeah. 802 00:47:51,956 --> 00:47:56,921 And I do have a list of deal requirements in front of me. Two stand out to me 803 00:47:57,335 --> 00:48:00,270 that might influence this is one that is prime eligible. 804 00:48:00,947 --> 00:48:05,010 So if you're going into FBA and now you are getting Prime eligibility 805 00:48:05,010 --> 00:48:08,508 through that, you would be checking that box that you may not have been 806 00:48:08,508 --> 00:48:12,496 checking before via FBM unless you had seller filled prime 807 00:48:14,528 --> 00:48:17,424 Otherwise, I'm not seeing any requirements 808 00:48:17,424 --> 00:48:20,171 that have a sales history three-star product rating. 809 00:48:20,472 --> 00:48:23,481 It's not a restricted offensive or inappropriate product, 810 00:48:23,481 --> 00:48:24,911 It's new. 811 00:48:25,927 --> 00:48:30,140 If you're checking all the boxes, I, I think that getting Prime 812 00:48:30,140 --> 00:48:33,977 would be the biggest one that you're missing in the FBM model. 813 00:48:38,003 --> 00:48:39,432 Bit of a stumper there, I like that. 814 00:48:39,432 --> 00:48:41,990 Yeah, yeah. That's a very good question. Love it. 815 00:48:42,968 --> 00:48:46,091 We have a couple of questions about Prime exclusive discounts 816 00:48:46,091 --> 00:48:48,235 I'm going to run by you Brittni. 817 00:48:49,176 --> 00:48:51,997 The first is asking, 818 00:48:51,997 --> 00:48:54,330 or saying, we've heard 819 00:48:54,330 --> 00:48:56,775 that during Prime Day Amazon give SERP, 820 00:48:57,302 --> 00:48:59,672 search result placement, preference 821 00:49:00,311 --> 00:49:03,359 to products that have a Prime exclusive discount 822 00:49:04,750 --> 00:49:08,324 do you have any confirmation, if that's true? Might be a reason to favor 823 00:49:08,324 --> 00:49:12,162 Prime exclusive over coupons? 824 00:49:13,478 --> 00:49:15,134 That is a very good question. 825 00:49:15,134 --> 00:49:18,482 So when it comes to that. 826 00:49:19,385 --> 00:49:20,965 Could you repeat that one more time? 827 00:49:20,965 --> 00:49:22,357 There was a little bit of. 828 00:49:22,357 --> 00:49:24,501 Yeah, yeah, it's—it's a longer question. 829 00:49:25,705 --> 00:49:29,730 The claim is that Amazon favors on the search results 830 00:49:29,730 --> 00:49:34,395 page prime exclusive discounts over other offers. 831 00:49:34,884 --> 00:49:36,126 Is that true? 832 00:49:36,464 --> 00:49:37,969 I would think so. 833 00:49:37,969 --> 00:49:43,725 Prime and Amazon like to promote what they think is of a good value. 834 00:49:43,725 --> 00:49:46,434 So if they are giving those prime exclusive discounts, 835 00:49:46,885 --> 00:49:50,346 I would see them pushing those more—more than coupons. 836 00:49:50,647 --> 00:49:55,124 However, I think coupons do edge themselves 837 00:49:55,124 --> 00:49:59,789 in the way of showing on ads as well as organic listings 838 00:50:01,030 --> 00:50:01,745 that helps. 839 00:50:01,745 --> 00:50:05,319 So if you are not eligible for those prime exclusive discounts, 840 00:50:05,996 --> 00:50:09,495 I would consider a good way to go with that. 841 00:50:10,247 --> 00:50:12,504 So, yes, I would concur. 842 00:50:12,504 --> 00:50:14,649 I've also heard this is not part of the question. 843 00:50:14,649 --> 00:50:19,389 This is me adding that I heard that Prime exclusive discounts 844 00:50:19,389 --> 00:50:24,129 are something of a headache to create in Seller Central 845 00:50:24,994 --> 00:50:28,117 compared to coupons, it requires exporting to spreadsheets, 846 00:50:28,117 --> 00:50:32,067 filling it out re-uploading that has that process changed it 847 00:50:32,067 --> 00:50:34,249 all, or is it does it remain as cumbersome? 848 00:50:35,114 --> 00:50:38,199 I believe it remains as cumbersome. 849 00:50:38,650 --> 00:50:42,788 You can bulk upload coupons as well, but it's not required. 850 00:50:44,068 --> 00:50:45,535 But you yeah, it is. 851 00:50:45,535 --> 00:50:48,130 It is rather cumbersome. 852 00:50:48,130 --> 00:50:48,732 Okay. 853 00:50:49,372 --> 00:50:51,742 Second question is a bit broader. 854 00:50:51,742 --> 00:50:55,655 And what are the advantages of activating a prime exclusive discount? 855 00:50:55,655 --> 00:50:56,557 So we've just heard that 856 00:50:57,987 --> 00:50:58,890 favored or 857 00:50:58,890 --> 00:51:01,598 preferences on the search results page might be one of those. 858 00:51:02,200 --> 00:51:04,570 Are there any other standout benefits 859 00:51:05,360 --> 00:51:07,580 or advantages to those? 860 00:51:08,295 --> 00:51:11,154 Yeah, I feel as though 861 00:51:12,320 --> 00:51:14,201 they do give sort of a spotlight. 862 00:51:14,201 --> 00:51:18,716 I would like to point out that Prime exclusive deals typically have 863 00:51:18,716 --> 00:51:22,553 a discounted price as well as they are 864 00:51:22,553 --> 00:51:25,299 discounted up to 120 minutes, 865 00:51:25,788 --> 00:51:28,572 I believe is what I have written down here 866 00:51:31,205 --> 00:51:33,839 so it does take a little bit to go live 867 00:51:36,058 --> 00:51:39,407 I do think that there are benefits to it because it does have the Prime 868 00:51:39,407 --> 00:51:42,341 exclusive name associated with it 869 00:51:43,507 --> 00:51:45,539 and they are also showcased 870 00:51:45,689 --> 00:51:49,827 but I do not think you have as much control over them. 871 00:51:50,016 --> 00:51:52,687 If I'm speaking to that correctly, 872 00:51:54,304 --> 00:51:56,750 prime exclusive deals 873 00:51:57,502 --> 00:51:57,991 yeah. 874 00:52:00,060 --> 00:52:01,452 Might be one that we follow up with. 875 00:52:01,452 --> 00:52:05,816 I think we have a blog on kaspien.com about Prime exclusive discounts. 876 00:52:06,079 --> 00:52:06,568 Right. 877 00:52:07,208 --> 00:52:09,691 If so, we can send that alongside the recording. 878 00:52:11,760 --> 00:52:13,791 Question for you, Taylor. 879 00:52:13,791 --> 00:52:16,011 It's a pretty specific scenario. 880 00:52:16,011 --> 00:52:21,729 We are launching two new products that do not have historical sales dat. As such, 881 00:52:21,729 --> 00:52:23,347 They were conservative on their first order 882 00:52:23,347 --> 00:52:26,770 and we're considering prime day when they made that that order. 883 00:52:27,560 --> 00:52:30,307 Do you recommend that they try to cash in on Prime Day 884 00:52:30,307 --> 00:52:33,241 or skip this year to avoid the risk of stocking out? 885 00:52:33,542 --> 00:52:36,740 Is that risk on Prime Day sales worth the risk of stock out 886 00:52:38,132 --> 00:52:41,593 up yeah, it's a—it's a tough question. 887 00:52:41,856 --> 00:52:45,881 I think there is a there is a middle ground that I might recommend here, 888 00:52:45,881 --> 00:52:47,198 which is 889 00:52:47,650 --> 00:52:50,396 not I'm assuming it's a private label seller. 890 00:52:50,659 --> 00:52:55,625 And if they're worried about inventory and not being able to purchase 891 00:52:55,625 --> 00:52:59,124 and let's say get it from overseas into FBA in time 892 00:52:59,500 --> 00:53:02,660 to have a big stockpile for Prime Day, 893 00:53:02,886 --> 00:53:07,137 then the middle ground is to just not go too heavy 894 00:53:07,400 --> 00:53:11,275 on let's say the CPC increases that Brittni was recommending 895 00:53:12,404 --> 00:53:13,118 where she put 896 00:53:13,118 --> 00:53:17,746 in her slide 100 to 200% higher than normal, you would keep your budgets 897 00:53:18,009 --> 00:53:20,943 where they typically are, see if that will actually 898 00:53:22,147 --> 00:53:25,006 allow you just to have those—those ads served 899 00:53:26,285 --> 00:53:29,295 and then and then you'll very very much 900 00:53:29,558 --> 00:53:34,110 have a lift in sales whether you're kind of paying for it or not. 901 00:53:34,110 --> 00:53:37,270 So if—if inventory is low 902 00:53:37,270 --> 00:53:41,258 what I recommend you do is just not then go and promote too much 903 00:53:41,258 --> 00:53:44,230 and just the increased traffic will increase your sales 904 00:53:44,569 --> 00:53:47,503 and I'm assuming with, with the seller that they're saying 905 00:53:47,503 --> 00:53:52,431 they don't have time to reorder and get it into Amazon before Prime Day. 906 00:53:53,184 --> 00:53:57,510 Otherwise, order more and follow the playbook 907 00:53:57,510 --> 00:54:01,949 of of the different initiatives you can do to to increase your sales. 908 00:54:01,949 --> 00:54:02,288 There 909 00:54:04,884 --> 00:54:06,953 Got it, good answers. 910 00:54:07,254 --> 00:54:10,414 And we have two more questions for our last 6 minutes here. 911 00:54:11,467 --> 00:54:13,536 One is about post Prime Day 912 00:54:13,950 --> 00:54:17,863 we talked about the aftershock of Prime. 913 00:54:17,863 --> 00:54:21,625 Day having residual sales lift but we also talked about reducing your bit 914 00:54:22,001 --> 00:54:24,860 should you how much should you be reducing your bids 915 00:54:24,860 --> 00:54:26,064 and when 916 00:54:28,058 --> 00:54:30,465 I think they're kind of getting at 917 00:54:30,465 --> 00:54:33,851 should you reduce it to pre Prime Day bid levels immediately 918 00:54:33,851 --> 00:54:37,801 thereafter or should you keep them slightly elevated in the week 919 00:54:37,801 --> 00:54:39,795 or two weeks immediately following prime day? 920 00:54:40,660 --> 00:54:40,961 Yeah. 921 00:54:40,961 --> 00:54:44,498 So how we talked about that was a week before Prime Day. 922 00:54:44,498 --> 00:54:48,636 We raise those 25 to 35% and then on Prime Day 923 00:54:48,636 --> 00:54:53,451 increasing again, another I believe is 35 to 50%. 924 00:54:53,903 --> 00:54:58,868 You're going to want to reduce them that 35 to 50% leading out of that week. 925 00:54:59,019 --> 00:55:04,737 And then I think about ten days after that reduce them to pre prime day normals, 926 00:55:06,016 --> 00:55:09,590 some more of that bell curve sort of a way. 927 00:55:10,117 --> 00:55:12,713 Can I ask a follow up question here Brittni 928 00:55:12,713 --> 00:55:14,631 when you talking about raising the bid. 929 00:55:14,631 --> 00:55:17,829 I think the example you gave was from a dollar to $1.25. 930 00:55:18,280 --> 00:55:21,967 How does Kaspien think about profitability 931 00:55:24,112 --> 00:55:26,971 as as you're looking at increasing ad spend, so 932 00:55:28,137 --> 00:55:30,657 are you like just I'm 933 00:55:30,657 --> 00:55:35,134 sure there's many different solutions here, but do you guys say, well, 934 00:55:35,134 --> 00:55:38,934 we'll increase it up to break even, but we don't want to lose money on our sales? 935 00:55:38,934 --> 00:55:41,417 Just what's the thought process behind that? 936 00:55:42,282 --> 00:55:45,743 The thought process is ultimately to stay competitive. 937 00:55:46,270 --> 00:55:49,204 I—we're assuming that most competitors 938 00:55:49,467 --> 00:55:52,853 are increasing their bids by at least 50%, if not more. 939 00:55:53,079 --> 00:55:56,201 This is very common throughout the holiday season as well. 940 00:55:56,239 --> 00:55:59,587 If you look at any historical metrics, you're going to see 941 00:55:59,587 --> 00:56:02,860 at least a 30% increase on CPC bids. 942 00:56:02,935 --> 00:56:07,901 Or averages, if you will, if you're on the seller central console. 943 00:56:08,353 --> 00:56:12,152 So our mindset is to stay competitive, increase 944 00:56:13,319 --> 00:56:15,613 the daily budgets to show more. 945 00:56:16,065 --> 00:56:20,918 But we are banking on the fact that more people are going to be on Amazon 946 00:56:20,918 --> 00:56:25,395 and have eyeballs on Amazon than normal regular days. 947 00:56:25,395 --> 00:56:27,276 So we need to stay competitive. 948 00:56:27,276 --> 00:56:33,822 We need to outbid our customers and the $1 to $1.25 stop process 949 00:56:34,010 --> 00:56:38,750 with actually the placement up bids for top of page first page placement. 950 00:56:39,465 --> 00:56:43,151 I utilized that in my day to day for some campaigns 951 00:56:43,377 --> 00:56:47,252 because I do think that the product that I'm advertising 952 00:56:47,252 --> 00:56:51,240 will be clicked on more if they're on the first page 953 00:56:51,240 --> 00:56:54,701 and that they're comparable to their competitors or better. 954 00:56:55,754 --> 00:56:58,688 So that's the strategy I have on my own, 955 00:56:58,839 --> 00:57:01,510 but it's important on Prime Day to increase that. 956 00:57:01,510 --> 00:57:06,702 But ultimately take that down if you haven't already built that in and put 957 00:57:07,793 --> 00:57:09,485 things on. 958 00:57:09,485 --> 00:57:11,366 That question sparked a couple more. 959 00:57:11,366 --> 00:57:14,000 We'll see if we can get all of them in. 960 00:57:14,000 --> 00:57:16,859 First, what is a quote unquote 961 00:57:16,859 --> 00:57:19,906 good ROAS, that stands for Return on ad 962 00:57:19,906 --> 00:57:22,690 Spend, to target for sponsored ads 963 00:57:23,179 --> 00:57:26,264 during pre Prime Day and then Prime Day itself. 964 00:57:26,603 --> 00:57:29,988 Imagine the answer's going to be along the lines of it depends. 965 00:57:30,365 --> 00:57:32,772 Yes it does depend. 966 00:57:32,772 --> 00:57:35,669 I would say that 967 00:57:36,233 --> 00:57:39,657 if it comes down to the product, if you have a higher 968 00:57:39,657 --> 00:57:44,961 priced product over $100 that you're going to see your ROAS 969 00:57:44,961 --> 00:57:49,400 definitely go down in cost is going to go up in inverse 970 00:57:50,078 --> 00:57:53,952 and that's simply because people are interacting and they're pricing out. 971 00:57:53,952 --> 00:57:58,730 So you're definitely going to see that what is typical for that brand 972 00:57:58,768 --> 00:58:01,777 is it depends, but 973 00:58:01,777 --> 00:58:04,674 I would see it definitely decrease 974 00:58:05,464 --> 00:58:08,436 in overall value with people pricing it out. 975 00:58:08,474 --> 00:58:12,988 Now, this is really big for the tech industries and technical type products. 976 00:58:15,208 --> 00:58:16,374 But anything and 977 00:58:16,374 --> 00:58:19,685 everything is fair game on Amazon when it comes to Prime Day. 978 00:58:19,685 --> 00:58:25,027 So I would anticipate quite a bit of—quite a bit of an uptick. 979 00:58:25,027 --> 00:58:30,369 I've seen an improvement in costs from like 20% down to 10% 980 00:58:30,820 --> 00:58:34,770 for higher priced items. For lower priced items 981 00:58:34,770 --> 00:58:40,639 I've seen it run the gambit as well, go from 30% down to 20. 982 00:58:40,677 --> 00:58:45,191 So it depends on the historical data of your products. 983 00:58:45,191 --> 00:58:50,232 What I would recommend is implementing sponsored display 984 00:58:50,420 --> 00:58:52,978 and a defensive strategy that will help 985 00:58:53,505 --> 00:58:56,740 keep your ACOS low or ROAS high 986 00:58:58,057 --> 00:59:01,894 and help protect your space, but also help with the conversion 987 00:59:01,894 --> 00:59:07,123 process on Prime Day. So expect to hit the week leading up. 988 00:59:07,123 --> 00:59:09,644 That is very normal 989 00:59:09,644 --> 00:59:14,572 for prime day and afterwards you should see that uptick in this sales volume increase. 990 00:59:16,303 --> 00:59:17,281 Excellent. 991 00:59:17,958 --> 00:59:18,710 Well, I think we're 992 00:59:18,710 --> 00:59:22,510 going to have to call it there as we're hitting our time again. 993 00:59:22,661 --> 00:59:27,175 Taylor, Brittni, thank you so much for taking the time today to speak with us 994 00:59:27,175 --> 00:59:30,373 and share all your expertise to our audience. 995 00:59:30,373 --> 00:59:31,840 Thank you for sticking around with us. 996 00:59:31,840 --> 00:59:36,806 It's past hour. Whope it was valuable as I mentioned, we will be seeing now 997 00:59:36,806 --> 00:59:39,665 a recording of this webinar, likely tomorrow. 998 00:59:40,718 --> 00:59:42,825 And so if you missed anything you want to revisit anything, 999 00:59:42,825 --> 00:59:45,120 just keep an eye out for that. 1000 00:59:45,120 --> 00:59:46,662 All right. Thank you, everyone.

The Presenters

Brittni Rizzo

Search Marketer,
Kaspien

Brittni’s background in sales and marketing has proven invaluable in helping brands achieve their goals through programmatic and search advertising on Amazon. She brings a vision for each brand she works with, identifying their objectives and implementing strategic campaigns to reach them in the most cost-effective way possible.

Taylor Smits

Co-Founder,
MyFBAPrep

Taylor started in e-commerce over a decade ago by selling tickets online. He has since added dropshipping, private label, and wholesaling to his repertoire. Today, Taylor has built a 7-figure Amazon business and guides MyFBAPrep as a co-founder and Amazon seller. Taylor is responsible for onboarding new warehouses and managing the relationship between existing customers and warehouses.