Table of Contents
Amazon Prime Day is just around the corner, and businesses, consumers, and influencers are preparing for this 48-hour annual shopping extravaganza. Prime Day 2024 is set to run from July 16th to the 17th. Like last year, this year’s event will prioritize Amazon’s affiliate program which’ll promote a revolutionary surge in influencer collaborations through brand partnerships. Without further ado, let’s unpack what Prime Day 2024 has to offer!
What is Amazon Prime Day?
Prime Day is an exclusive shopping event for Prime members intended to promote deals “greater than Black Friday.” Introduced on Amazon’s 20th anniversary, Prime Day spanned 24 hours across nine countries and generated more sales than Black Friday. Fast forward to 2021 – creators took to live streaming platforms to showcase products from their favorite brands and businesses.
Since then, Prime Day has continued to benefit small businesses, brands, and creators alike. The first day of Prime Day last year was the largest sales day in Amazon’s history. Prime members purchased over 275 million items and saved more than $2.5 billion. Amazon was the catalyst to marketing success with small businesses like Caray and TUSHY.
What to Expect for Prime Day 2024
Amazon kickstarted Prime Day 2024 hype with Megan Thee Stallion’s original song, “It’s Prime Day” where she briefly showcases some on-sale products customers can expect to see. Megan advertises the 48-hour event with catchy lyrics persuading her fans to “start clickin’” and ‘sign up to be a member if you want free shipping.”
Much like other Prime Day events, expect an influx of consumers taking advantage of early deals and promotions. Amazon products will undoubtedly see massive discounts, especially on smart devices like Fire tablets, Fire TVs, Kindles, and speakers. Similarly, Amazon services such as Prime Video, Amazon Music, and Kindle Unlimited will also offer fantastic deals.
Likewise, consumers will see deals on groceries, travel products, technology, and clothing from top-name brands like Clinique, Allbirds, Kiehl, Sony, Speedo, and Peloton to name a few. With the back-to-school season approaching, college students start a six-month Prime Student trial. Prime Student offers a plethora of benefits, from 10% discounts on flights and hotels to Course Hero tutoring and homework help. Amazon Basics and Essentials will offer 40% discounts on school supplies, dorm accessories, and clothing like shirts, hoodies, and sweatpants.
How Consumers Can Prep
So, how should consumers prepare for Prime Day? Tech-savvy consumers can benefit from notifications and invite-only deals. Shoppers can follow brand pages to receive updates on upcoming deals. Prime members can request invitations to product pages near the “Add to Cart” button before inventory runs out.
From there, selected members will receive emailed instructions on how to purchase their desired items. Additionally, members can also use Alexa to track deals by saying, “Alex, add [product name] to my cart” for hassle-free payouts. American Prime members receive free delivery perks and various ways to pick up packages.
How Can Brands Leverage Amazon Prime Day 2024?
If you’re a brand looking to leverage this year’s Prime Day, look no further. Prime Day is more than just a way to boost sales – it’s a way for you and your business to generate brand awareness, collaborate with influencers, and engage with your audience. Let’s unravel how your brand can take advantage of what Prime Day has to offer.
1. Advertise
First things first, you’ll need a solid influencer marketing strategy, so let’s cover the basics. Before you begin advertising, define your goals and set your budget. Do you want to increase brand visibility or boost sales? Next, break down your brand audience based on demographics, purchasing habits, interests, and lifestyles.
From there, find influencers that align with your brand message. When identifying the right influencers for your campaign, consider their audience demographic and how authentic their content is. Thankfully, NeoReach’s Influencer Marketing Software alleviates the hassle of finding the right influencers! Once you find perfect candidates, establish a clear collaboration plan.
Write an influencer brief that covers content guidelines, deadlines, and any deliverables. Your brief must be concise and straightforward for proper content planning. Ensure you compensate your creators fairly and negotiate accordingly. And finally, to stay ahead of the curve, prioritize relationship building by creating exclusive deals and incentives for future partnerships.
2. Create Coupons and Promotion Codes
To reap the benefits of Prime Day, you need to create a coupon code. Businesses can schedule up to 1,000 coupons to run in one day to prevent spam submissions. Establish a coupon budget and select a title, start date, and end date for your coupon. These coupons will offer loyal customers a way to receive discounts on your products. Once your coupon code is live, refer back to your influencer marketing strategy to spread the word.
3. Create Exclusive Discounts
Brands and businesses can create exclusive discounts for Prime members. These offers will list a discount price. Additionally, your customers will see how much money they saved with your exclusive discount, which will incentivize bigger spending. Similar to creating coupons, enter a discount name along with start and end dates. However, the process for creating Prime discounts is more complex than coupons, so refer to Seller Central to save, add, and validate products.
4. Monitor Your Results
Lastly, reflect on your campaign’s performance. As mentioned earlier, NeoReach’s API software makes tracking your campaign’s performance easier than ever. You can track ROI, CPM, CPE, impressions, engagement statistics, and more – allowing you to continue your marketing success.
