Winning on Amazon is all about momentum: more sales = better rankings = even more sales. To enable your growth, the retailer offers an impressive set of deals and promotions. Last week, Amazon introduced the "7-Day Deal." How does this new option compare to existing tools like Lightning Deals and Coupons?
Below is a list of some of the most popular ways to drive your sales on Amazon. To help organize the options, we've broken them down into 3 sections: Launch, Loyalty, and B2B (Business to Business).
Without a good launch plan, your brand will sit unnoticed and review-free. Once you've gotten things moving with Amazon's Pay-Per-Click (PPC) tools and review-generation tactics, these deals and promos can help you drive even more sales.
- Lightning Deals: Perhaps the best known Amazon deal, it's called "lightning" because it only lasts 4-12 hours. Amazon determines which of your ASINs are eligible and sets a maximum deal price for the deal. You determine how many units of each ASIN you'd like to make available for the deal.
- 7-Day Deals: 7-Day Deals are simply an extended version of the popular Lightning Deal. These can be a better option for slower-moving items that won't sell out in a short period.
- Prime Exclusive Deals: Brands can offer a discount on up to 100 of their SKUs to Prime members. These deals can be set for an extended period up to 60 days long.
- Coupons: Amazon's coupons are a great tool for launches. In addition to offering special savings, items with coupons get a special green coupon flag in search results helping to make them more visible. Brands can set maximum budgets for each coupon which can also run up to 60 days.
- Percentage-Off Codes: These are essentially secret coupons. Brands can create either single-use or "group" discount codes that can be distributed in advertising, on social media, and through influencers. Anyone with a code can redeem it for the specified discount.
- Social Media Promo Codes: These are very similar to Percentage Off Codes but they also have a couple of very important features. First of all, these deals get their own landing pages that you can use as the destination for off-platform marketing efforts. There's also an option to share promo codes with Amazon's own group of influencers and affiliates to increase your reach.
- Giveaways: Want to just give your product away for some reason? Amazon's got you covered with this tool. If your sole objective is to get product into peoples' hands, you can consider this option. In exchange for the giveaway, you can require consumers to take an action such as watching a video or, in the case of books, following an author.
- Buy One Get One (BOGO): Another retail classic, the BOGO allows you to increase the average size of your transactions by giving a "free" (or discounted) item upon the purchase of other items. This deal is highly customizable - you can set the number of qualifying items required ("Buy Two" or "Buy Three" for example) and you can also choose a different ASIN as the free item. This would allow you to give a "free" refill with the purchase of two hand soap dispensers, for example.
- Subcribe & Save: This is a great option for frequently purchased Food and Consumable brands. Subscribe & Save allows you to trade a discount for brand / item loyalty (between 5-15%). Shoppers who "subscribe" to your item will have it delivered automatically at regular intervals, usually monthly.
- Business member discounts: Amazon Business offers special deals and options to registered business entities. By offering these business members special quantity discounts, you can increase your average order value because these businesses will often buy in bulk. Unlike other types of deals mentioned, these have no time limits - you can "set and forget" your business pricing and watch the sales flow in.
So what's the best kind of deal is best for your brand? That depends on your objectives. In most cases, you'll need to use several different deal types to accomplish your goals over time. It's important to be deliberate, though, in developing a merchandising and promotion plan that keeps momentum high and ties to seasonal opportunities. If you treat these promotions as "one offs," you'll be less successful.
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