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Enhance Ad Performance: Prime Day 2024 Campaign Preparation · Selling on Giants: The eCommerce Marketplace Podcast

• 0:03
  SPEAKER_01: Welcome to another episode of Selling on Giants, where we explore actionable strategies to help e-commerce sellers thrive on major marketplaces.
• 0:12
  SPEAKER_01: Today we're excited to have Christian Ramasino, an expert in Amazon advertising, join us to discuss how to prepare your advertising campaigns for Prime Day, which is on the 16th and 17th of July.
• 0:25
  SPEAKER_01: This episode is packed with insights to help you maximize your sales during one of the biggest shopping events of the year.
• 0:31
  SPEAKER_01: Don't forget to check out our comprehensive guide on Prime Day preparation, which is available in the show notes below.
• 0:38
  SPEAKER_01: And I hope you guys find it a valuable resource as it complements today's episode.
• 0:42
  SPEAKER_01: And hopefully you guys use it to crush your prime day and make a ton of money.
• 0:47
  SPEAKER_01: Hey guys, what's going on?
• 0:49
  SPEAKER_01: I got Chris here with me.
• 0:50
  SPEAKER_01: Chris, thanks so much for coming on and opening up to tell us about preparation for Prime Day, especially around advertising.
• 0:58
  SPEAKER_01: So we're pumped to pick your brain to understand how you look at your accounts and kind of what we're doing here at Bellavix to help level up our brands as they're preparing for Amazon Prime Day 2020 2024.
• 1:11
  SPEAKER_01: So that being said, can you explain the importance of starting advertising preparation early for big tentpole events like Prime Day and what specific steps sellers should take in the weeks leading up to this major event?
• 1:24
  SPEAKER_00: Yeah, well, sure.
• 1:26
  SPEAKER_00: I'm excited to join this podcast and I'll uh uh I'll uh share some of the experience I've gained over the years.
• 1:35
  SPEAKER_00: Um starting advertising in your preparations early for Prime Day is very important for a number of reasons.
• 1:42
  SPEAKER_00: Um, because it allows sellers to optimize their campaigns well ahead of the event, ensuring that their strategies are fine-tuned and they are ready to capitalize on the increased traffic.
• 1:57
  SPEAKER_00: Also, uh early preparation uh can save you some headache of um uh potential is issues of stock levels or ad performance.
• 2:08
  SPEAKER_00: I mean you wouldn't want to uh lose prime day traffic because one of your ads was disapproved.
• 2:17
  SPEAKER_00: Uh also I mentioned uh stock levels, probably the most important step.
• 2:22
  SPEAKER_00: Uh you should prepare to get your uh inventory to Amazon's warehouses until uh um four weeks prior to the prime day event.
• 2:33
  SPEAKER_00: For this year, the due date was June 20th.
• 2:37
  SPEAKER_00: Something else that uh comes into mind is uh prepare FBM as a backup plan.
• 2:43
  SPEAKER_01: Beautiful.
• 2:44
  SPEAKER_01: I love the backup plan.
• 2:45
  SPEAKER_01: FBM is definitely really important.
• 2:47
  SPEAKER_01: You bring up a really good point about advertising approval, especially for video ads or sponsored brand ads, depending on which even sponsor display.
• 2:55
  SPEAKER_01: Any ad that requires approval, I'll leave it at that.
• 2:58
  SPEAKER_01: It's gonna get it ahead of time because nothing's worse at the time of the event.
• 3:02
  SPEAKER_01: We know the period leading up to events, it definitely gets harder to get support from Amazon because everybody's reaching out to Amazon to get approvals and all that other fun stuff.
• 3:12
  SPEAKER_01: So sounds like a really good opportunity to be proactive.
• 3:17
  SPEAKER_01: Yeah.
• 3:18
  SPEAKER_01: Beautiful.
• 3:19
  SPEAKER_01: So on that note, Chris, how should sellers adjust their bids for underperforming targets and optimize budgets, uh, budget allocations for maximum impact during prime day?
• 3:31
  SPEAKER_00: Oh, yes, a great uh question.
• 3:35
  SPEAKER_00: This is also something that should be uh started in advance uh and uh uh starting bid optimization and monitoring uh what happens with our targets pre-Prime Day.
• 3:48
  SPEAKER_00: And the majority of, I mean all the sellers will see a decrease in performance uh in the weeks leading up to the event.
• 3:56
  SPEAKER_00: This is normal as customers enter the window shopping mode.
• 4:02
  SPEAKER_00: Uh sellers must make the most of their limited ad budget for Prime Day, and that is why I um I consider it to be imperative to reduce uh bids on uh targets that haven't performed that well.
• 4:20
  SPEAKER_00: Uh this way uh advertisers can have another part of their budget uh for uh best performing uh targets and keywords.
• 4:33
  SPEAKER_00: Um but also you wouldn't want to reduce drastically all of your targets as this will eventually decrease uh will reduce visibility and uh we we want to be there in those top positions for planned.
• 4:54
  SPEAKER_00: Um another thing, uh I would focus budget on uh as I said on top selling products, um products with high margins uh which are more likely to generate uh good returns on Friday.
• 5:17
  SPEAKER_00: Another thing uh with our budget, we can uh set aside some budget for some uh sponsored display campaigns.
• 5:24
  SPEAKER_00: This way uh we can increase uh shopper consideration and uh expose our products to more and more customers, and then probably even retarget them after Prime Day with uh another bunch of good stuff for marketing campaigns.
• 5:43
  SPEAKER_01: I like that.
• 5:44
  SPEAKER_01: I like you hit a bunch of a bunch of points on the head that I think makes a lot of sense.
• 5:49
  SPEAKER_01: So uh looking at your top products, obviously your highest sales velocity products, any changes to those are gonna have the biggest impact.
• 5:57
  SPEAKER_01: Uh, minimizing spend on keywords that just aren't really delivering uh results while reallocating those budget towards top performing campaigns.
• 6:07
  SPEAKER_01: And then depending on what the brand's objectives are, uh being able to do sponsor display or mid-consideration to awareness, up upper funnel targeting so that you're capturing this new and additional audience.
• 6:19
  SPEAKER_01: So I guess on that note, we're gonna uh dive a little deeper.
• 6:23
  SPEAKER_01: So I'd like to take our listeners through like two scenarios.
• 6:27
  SPEAKER_01: So, scenario one, I'm a startup brand, I have a new product, I don't have a ton of reviews, but I do want to capture some of that Amazon prime day traffic.
• 6:37
  SPEAKER_01: My conversion rates probably aren't so great.
• 6:40
  SPEAKER_01: If you're my advertising manager, which you would be, uh what would I well how how would I look at this?
• 6:45
  SPEAKER_01: Like what KPIs would you consider and kind of what would be your strategy with my goal being to acquire new customers uh at no matter what cost?
• 6:55
  SPEAKER_01: So I don't I'm not as concerned about efficiency because I'm a new brand.
• 6:59
  SPEAKER_01: I want to grow my awareness.
• 7:01
  SPEAKER_01: Um so if this is my strategy and I'm coming to you to say, hey, help me with this on Prime Day, what are we gonna do, Chris?
• 7:10
  SPEAKER_00: Is the budget unlimited, Will?
• 7:13
  SPEAKER_01: Uh the budget, well let's just say, like, what's a reasonable budget?
• 7:17
  SPEAKER_01: Let's just say it's uh it's a five SKU catalog and I have uh I have ten thousand dollars a month.
• 7:22
  SPEAKER_01: I think that's uh a realistic budget.
• 7:26
  SPEAKER_00: Yeah, that's uh quite uh reasonable, uh I would say.
• 7:31
  SPEAKER_00: Um for uh brand awareness I would probably choose uh uh I would choose uh some good targeting in sponsor brands and sponsor branded campaigns on a category level.
• 7:48
  SPEAKER_00: Uh researching the top uh competitors for uh that uh brand for our brand.
• 7:56
  SPEAKER_00: Again, I can we can target the same thing in sponsored display as well to get uh as uh many eyes on the product as uh possible.
• 8:07
  SPEAKER_00: And uh efficiency isn't that uh that important, we can uh start targeting phrase match and uh broad match keywords to have the have the whole spectrum uh for advertising for this branding.
• 8:28
  SPEAKER_01: I like that.
• 8:29
  SPEAKER_01: A lot of mid and upper funnel tactics.
• 8:31
  SPEAKER_01: What KPIs would I be looking at?
• 8:35
  SPEAKER_00: Uh well um the most important uh KPI in this uh in this scenario would probably be uh impressions and clicks.
• 8:46
  SPEAKER_00: So w we we sh we want to get uh the product uh rolling as fast as possible and get uh as many impressions as possible.
• 8:56
  SPEAKER_00: Um but we also want to be really careful to our click-through rates so that uh uh we know our product is relevant and uh is engaging with uh the right audience.
• 9:11
  SPEAKER_00: So probably click-through rate if uh Aquas or Goaz uh aren't that important.
• 9:17
  SPEAKER_00: I would uh focus on click-through rates to get uh as much exposure as possible.
• 9:23
  SPEAKER_01: Beautiful.
• 9:24
  SPEAKER_01: Sounds like bringing a lot of traffic in.
• 9:26
  SPEAKER_01: Uh does streaming TV or DSP play any part in this brand awareness strategy for a launch brand, especially with this size of a budget?
• 9:34
  SPEAKER_00: Of course, we can leverage DSP uh uh for uh well for this scenario in particular.
• 9:43
  SPEAKER_00: Uh we should actually uh use DSP as it uh grants us uh much more options in uh selecting the right audience for uh our products.
• 9:54
  SPEAKER_00: So I would say probably a 20% uh of the budget will go to DSP.
• 10:01
  SPEAKER_01: Oh, nice.
• 10:02
  SPEAKER_01: Okay, I love you have a percentage too.
• 10:03
  SPEAKER_01: That's amazing.
• 10:04
  SPEAKER_01: Um beautiful.
• 10:06
  SPEAKER_01: So let's take a let's take another extreme example.
• 10:08
  SPEAKER_01: I'm I'm I'm a medium-sized seller.
• 10:11
  SPEAKER_01: Uh maybe I'm doing between$60,000 to$80,000 a month.
• 10:15
  SPEAKER_01: So I'm about three-quarters of a million dollars on the platform.
• 10:20
  SPEAKER_01: Um I have a good mix of advertising, but my goal is to be efficient with the budgets I'm allocating.
• 10:26
  SPEAKER_01: And let's say same size, I got a five SQ catalog, but maybe at that rate I'm investing$25,000 to$30,000 a month in advertising.
• 10:36
  SPEAKER_01: Um, what type of tactics would you implement and what KPI should I be considering if I'm focused on on growth, but growth efficiently?
• 10:45
  SPEAKER_00: Uh good uh good scenario, Will.
• 10:49
  SPEAKER_00: Um we'll uh we're for this type of client we'll leverage uh we'll leverage the whole funnel the full funnel uh marketing uh for this type of client and uh the largest part of the budget will be on uh sponsored products probably.
• 11:12
  SPEAKER_00: Sponsored products that uh will uh contain uh high volume keywords, uh top generic keywords, top relevant keywords that will help uh improve our BSR and uh um keep our products in the top positions uh on the SERP on the SERP page.
• 11:35
  SPEAKER_00: Uh we have to use product targeting.
• 11:40
  SPEAKER_00: We have to use uh brand defense strategies that implies uh using uh branded keywords and using uh product targeting as a defensive strategy between our recent.
• 11:59
  SPEAKER_00: We should use uh sponsor brands and sponsor branded videos.
• 12:05
  SPEAKER_00: Um hopefully we can uh we can get uh some good uh image assets and video assets from our client in order to push these and uh um get in front of customers.
• 12:20
  SPEAKER_00: Um I always like to think as uh sponsor brands, uh sponsor branded campaigns as a very large uh banner on a very busy highway.
• 12:31
  SPEAKER_00: So uh definitely using all of these uh uh Amazon features will uh will uh benefit our brands.
• 12:41
  SPEAKER_01: Beautiful.
• 12:42
  SPEAKER_01: Yeah, it sounds like you're using sponsored products to really just cover uh every phase of that shopping journey.
• 12:49
  SPEAKER_01: I heard you know, sponsored products, so we're catching people in market through keyword uh searches, brand defense, we're protecting our brand with our ads, whether it's through product targeting or through keywords, sponsored display.
• 13:01
  SPEAKER_01: So now we're working a little bit up the funnel, sponsor brand, the billboard.
• 13:05
  SPEAKER_01: I love that analogy on the highway of Amazon.
• 13:08
  SPEAKER_01: We're getting a nice billboard spot for relevancy.
• 13:11
  SPEAKER_01: And I think what I love to add to that, what I love the most about when you leverage these multiple advertising types together is that your products get to be front of mind as searchers are shopping for these products.
• 13:24
  SPEAKER_01: And as a scenario, it's I'm searching for workout equipment or home workout equipment, and I get served a sponsor brand at the top of the page, and then I have my product in one of the first two to four uh open slots available within search.
• 13:39
  SPEAKER_01: Uh, I'm sure I'll show up on a sponsor video in that if you scroll down, but I'm really owning that above the fold feel.
• 13:45
  SPEAKER_01: And then when you're on the product detail page, whether it's ours or competitors, you're gonna have your products there and available.
• 13:52
  SPEAKER_01: So, you know, one way or another, you just heard this story of me shopping for this workout equipment.
• 13:58
  SPEAKER_01: And off the bat, I've been touched by this brand four, five, six times as I'm betting out these different products.
• 14:04
  SPEAKER_01: It's almost crazy to not think that they're gonna eventually click on ours and we're gonna be added into that consideration mix.
• 14:10
  SPEAKER_01: So I think really powerful, and that's the name of the game, right?
• 14:13
  SPEAKER_01: Like that's why we're using advertising.
• 14:15
  SPEAKER_01: But I'd love to dive a little deeper into sponsored display campaigns.
• 14:19
  SPEAKER_01: Uh, in my experience, a lot of brands are kind of hesitant around it, and especially a lot of the smaller brands that are just focused on ROAS because they're don't necessarily understand mid and upper funnel.
• 14:30
  SPEAKER_01: So, in terms of uh strategies for leveraging sponsored display campaigns and contextual targeting to increase traffic and shopper consideration, strategies for Prime Day, what are what are just some tactics or some strategies that if you're an advertising manager and you're trying to work with this brand and you want to use sponsored display, how would you do that?
• 14:51
  SPEAKER_01: How would you set it up?
• 14:52
  SPEAKER_01: Maybe what are some audiences that they can possibly use as they're building their own campaigns?
• 14:56
  SPEAKER_00: Sponsored display campaigns are uh great uh for uh making customers aware of your products.
• 15:04
  SPEAKER_00: So I've been using in the past period uh uh with uh with success.
• 15:11
  SPEAKER_00: Uh I wanted to engage audiences that uh uh remarketing audiences for similar products that uh for similar products as uh ours.
• 15:25
  SPEAKER_00: So in the moment we select uh product advertising our one of our sponsored display campaigns, we can select uh similar remarketing similar product remarketing audience for this type of product.
• 15:41
  SPEAKER_00: And the best thing uh is that we can include an image ad and also a video ad.
• 15:48
  SPEAKER_00: So this is an exceptional way to get in front of customers that uh um uh re research in the latest periods uh products similar to ours and are practically in a really small and tight niche.
• 16:10
  SPEAKER_00: That's why I like them so much.
• 16:12
  SPEAKER_00: And these type of ads, I think they can really make a difference for uh Amazon Prime Bay.
• 16:19
  SPEAKER_01: Beautiful.
• 16:19
  SPEAKER_01: I love what I hear too, and you're right, similar audiences, the same thing as building affinity audiences on maybe your website more traditionally.
• 16:26
  SPEAKER_01: So that makes a ton of sense.
• 16:29
  SPEAKER_01: Um, and with regards to those audiences, those products, do you do you add those products in and you find those?
• 16:36
  SPEAKER_01: Does Amazon make recommendations?
• 16:38
  SPEAKER_01: I guess how do you gather that list of conquests and those targets that you're initially going to go after?
• 16:44
  SPEAKER_00: So if you target uh similar products uh in these sponsored display campaigns, you will uh you will not have a say, uh saying in uh what Amazon chooses.
• 16:58
  SPEAKER_00: It will be uh similar products that Amazon considers similar products to ours.
• 17:04
  SPEAKER_00: Probably the category and some other some other products that uh resemble just uh ranking keywords for with your product.
• 17:17
  SPEAKER_00: Uh in order to uh select uh more specific group of products you should uh uh select category targeting and then brand targeting or uh select uh rating uh the star rating and uh this way you can uh uh you can have uh a select number of uh ASENS to show for your product.
• 17:53
  SPEAKER_01: Beautiful.
• 17:53
  SPEAKER_01: So the sponsor display, if it's doing the uh remarketing audience for similar products, leave it to the machine.
• 18:00
  SPEAKER_01: Amazon will pick whatever it thinks worse based on categorical and and backend information essentially.
• 18:07
  SPEAKER_01: Uh but through sponsor display, we do have the ability to set up category uh ad types, and this will give us more control on where we show up.
• 18:14
  SPEAKER_01: So we can, for example, search a category plus a brand and different targeting like that.
• 18:20
  SPEAKER_00: Yes, exactly.
• 18:22
  SPEAKER_01: Beautiful.
• 18:22
  SPEAKER_01: Sounds like we got a lot more levers and they continue to make improvements, so that's amazing.
• 18:28
  SPEAKER_01: So on that note, I want to talk a little bit about budgets and historical data.
• 18:32
  SPEAKER_01: So, how can past prime day data inform current budget increases and bidding strategies to ensure effective use of advertising budgets?
• 18:41
  SPEAKER_00: Researching the past data can bring uh loads of valuable insights uh for you and what you can expect uh this year.
• 18:52
  SPEAKER_00: Of course, it's not an exact science, and uh the consumer behavior is dynamic and continuously changing.
• 19:04
  SPEAKER_00: Uh but you have to check advertising efforts uh in the past year as well as business reports uh with all the sales data.
• 19:13
  SPEAKER_00: Uh check key uh metrics as uh ACOS, CTR, and CDR in the advertising campaigns.
• 19:21
  SPEAKER_00: Um while ACOS will tell you the efficient use of the ad spend, CTR and C VR will highlight which uh ads attracted attention and which one drove sales and which one uh which ones weren't affected.
• 19:40
  SPEAKER_00: Also, from my experience uh I noticed that it's good to think about uh at least a double of the budget for uh both days of Prime Day.
• 19:52
  SPEAKER_00: So if on a regular day you're spending uh five uh thousand, you should uh probably um prepare your budget for Prime Day for at least uh 10k per day for this increased demand.
• 20:09
  SPEAKER_01: Beautiful.
• 20:10
  SPEAKER_01: That makes a ton of sense too.
• 20:12
  SPEAKER_01: I like how you included a lot of KPIs in there, and that really resonates.
• 20:16
  SPEAKER_01: So, you know, looking at the past data, not can only inform like what type of increase can we expect, or are curvature rates affected, we just we know we can just take that data and we can backend into what potential sales will look like if if we see exactly what we saw for the following year.
• 20:34
  SPEAKER_01: Um, so that does make a ton of sense, and it can really help you inform of like how much inventory you need, how much you should be spending.
• 20:40
  SPEAKER_01: And I also like that you gave us uh some figures to work with.
• 20:43
  SPEAKER_01: So we know, give or take, during those two particular days for the event, climate spending more, have at least two times the budget available.
• 20:51
  SPEAKER_01: Um, so that as demand comes, these shoppers are bottom of the funnel, they're ready to buy.
• 20:57
  SPEAKER_01: Um, ideally, they saw your stuff a couple weeks before and added the cart, but if that's not the case, at least we're capturing them on the holiday, trying to convert them into customers, which is the name of the game.
• 21:08
  SPEAKER_01: Very informative.
• 21:09
  SPEAKER_01: So I want to get a little more tactical now.
• 21:12
  SPEAKER_01: Um, can you discuss the significance of adding new low-bid automatic campaigns and how these can benefit sellers during Prime Day?
• 21:22
  SPEAKER_00: Uh of course, of course, Will.
• 21:24
  SPEAKER_00: Um, I've been using this uh this type of campaigns for some years now, and uh these campaigns have been extremely beneficial beneficial in all my advertising accounts at any given time, not just on Prime Day.
• 21:40
  SPEAKER_00: Uh on Prime Day think about the cherry on top uh uh for Prime Day.
• 21:48
  SPEAKER_00: Think about uh these working as a backup for all of your uh other advertising companies.
• 21:58
  SPEAKER_00: Uh because we Set low bids like 15 or 20 cents.
• 22:05
  SPEAKER_00: These campaigns will not get any traffic in the first part of the day, but will come in handy in the second part, that uh most difficult part of the day, where everybody seems to get their uh budgets depleted.
• 22:22
  SPEAKER_00: This happens all the time, as I said, not uh not just during prime day.
• 22:27
  SPEAKER_00: That's why I um I'm really fond of these uh automatic campaigns that target uh the whole catalog with really low bids.
• 22:37
  SPEAKER_01: Beautiful.
• 22:38
  SPEAKER_01: It sounds like uh a really sneaky but smart move that I think a lot of brands are missing.
• 22:43
  SPEAKER_01: Um the ability, yeah, run it year-round, of course, but obviously doubling down during this high traffic time.
• 22:49
  SPEAKER_01: Also, what I love about automatic campaigns is sometimes you can get uh for really competitive and expensive keywords, you can get placements uh where the CPC is maybe five, six, seven dollars.
• 23:01
  SPEAKER_01: Um, but through the automatic campaigns, you're gonna pay whatever you're you're kind of paying.
• 23:05
  SPEAKER_01: So it could be dollar or two dollar uh cost per click.
• 23:08
  SPEAKER_01: So really, really sneaky and effective ways to get that traffic, especially for other advertisers who may not be thinking of uh what happens when my budget runs out.
• 23:19
  SPEAKER_01: On that note, Chris, how can sellers implement a defense strategy using brand keywords to protect their visibility and sales during prime day?
• 23:28
  SPEAKER_00: Well, I think uh you already know my thoughts uh on this one.
• 23:32
  SPEAKER_00: Uh branded campaigns should always be uh present in advertising accounts.
• 23:38
  SPEAKER_00: Many brands question the use of uh what's the use for advertising uh our own uh branded keywords.
• 23:47
  SPEAKER_00: But let me explain so that everybody understands.
• 23:51
  SPEAKER_00: Um let's imagine a top uh brand with huge popularity, and if this brand won't use their branded keywords for their own uh any of their advertising campaigns, they will leave these uh top advertising uh spots to uh to to competition.
• 24:12
  SPEAKER_00: Um so competitors will definitely uh capitalize on uh their popularity, and slowly but surely our brand will start losing market share.
• 24:24
  SPEAKER_00: Imagine the first four positions, uh for the first four out of uh five positions in the Amazon SERP are uh sponsor product placements.
• 24:37
  SPEAKER_00: Imagine those placements getting uh any other brand but yours uh because you don't uh want to use uh branded keywords on your advertising computer.
• 24:50
  SPEAKER_00: Uh so our our brand will only get the organic positions starting from position five onwards.
• 24:57
  SPEAKER_00: Um they will also lose the top banner to uh to another competitor and they will uh they will lose their market share share eventually.
• 25:11
  SPEAKER_00: Um the best thing in uh using branded keywords is that uh the Amazon algorithm favors uh the brand owner.
• 25:21
  SPEAKER_00: This means that uh every brand owner will pay the lowest CPC available for their branded keywords.
• 25:31
  SPEAKER_00: So uh all of my competitors will pay a much higher price for my branded keywords, but uh Amazon will favor me to uh to spend uh less for these branded keywords.
• 25:44
  SPEAKER_00: That's why it's imperative, crucial, essential uh to have uh sponsor branded keywords in uh our campaigns.
• 25:55
  SPEAKER_01: Beautiful.
• 25:56
  SPEAKER_01: That's really interesting.
• 25:57
  SPEAKER_01: I actually didn't know about the um the lower cost per clicks for branded from the actual brand versus conquest thing.
• 26:03
  SPEAKER_01: And it kind of makes sense too, because I always knew it was more expensive to Conquest, but it makes sense that there's lower CPCs.
• 26:10
  SPEAKER_01: And I'm sure some of it's also tied to the conversion rates are probably a lot better, uh, which enables that that lower cost per click.
• 26:16
  SPEAKER_01: So that's a really interesting and more of a reason to double down and do defensive strategies.
• 26:21
  SPEAKER_01: And of course, you know, uh here at Bellavix, we're big proponents of making sure that you're protecting your assets and your brands, because to your point, nothing's worse than searching, you know, uh brand X and brand Y and Z is just eating up market share and giving all the you know, cash in them and all the brand equity built up, um, especially, you know, nine times out of ten, they're gonna be more competitive on price, or they're gonna have a different spin on it than that you know that could cost you those customers.
• 26:50
  SPEAKER_01: So some really great points.
• 26:52
  SPEAKER_01: And I have one final question for you.
• 26:54
  SPEAKER_01: So now we we've talked about pre-prime day, we're prepping, we're getting our campaigns, we're opening up those floodgates a little bit, we're doing a lot of mid and upper funnel.
• 27:04
  SPEAKER_01: Prime day happens, we're we're doubling down, we're trying to get row ads, we're getting a little more aggressive with our bids.
• 27:10
  SPEAKER_01: Now it's post prime day.
• 27:12
  SPEAKER_01: So now it's a couple days after the event.
• 27:15
  SPEAKER_01: Um, what are some what are some things?
• 27:19
  SPEAKER_01: How should we analyze the advertising performance and prepare for future events?
• 27:26
  SPEAKER_00: Well so prime day is a really challenging event uh for every seller uh involved.
• 27:32
  SPEAKER_00: I would probably start uh focusing my attention uh again on some on the same key metrics on ACOS, CTR, and CDR.
• 27:43
  SPEAKER_00: While uh high ACOS can indicate areas needing improvement, uh high CTR or high conversion rates uh can show effective targeting and engagement.
• 27:56
  SPEAKER_00: And also ACOS doesn't tell the the whole picture.
• 28:02
  SPEAKER_00: We should uh definitely analyze total sales and revenue and compare actual sales and revenue against uh uh against our targets and the previous prime day performance in order to assess uh overall success.
• 28:19
  SPEAKER_00: Um on a product performance level, I would identify which products sold well and which didn't.
• 28:28
  SPEAKER_00: And uh this uh will uh will help us uh for the future uh for the future big events uh in the year.
• 28:39
  SPEAKER_00: And uh speaking of these uh other top events in the year, I would identify the top performing campaigns and perform keyword analysis and determine which keywords uh contributed most to to sales and conversions and probably consider investing more uh in the future endeavors, like uh the 80-20 rule.
• 29:05
  SPEAKER_01: I like the 80-20 rule, 80% of your sales from 20% of your catalog.
• 29:10
  SPEAKER_01: That's very typical, and that makes a ton of sense.
• 29:12
  SPEAKER_01: So obviously analyzing the historical performance.
• 29:16
  SPEAKER_01: Uh, we know at this point we're trained that there's gonna be a prime day 2.0 in the fall.
• 29:20
  SPEAKER_01: So being able to take all that data and then reapply it right before Q4, and then also just cleaning up some of those campaigns and understanding what worked and what didn't and why or why not, so we can strategize and pivot uh for the next 10-pole event.
• 29:35
  SPEAKER_01: Uh, real quick, I want to ask you one last question.
• 29:38
  SPEAKER_01: I lied.
• 29:38
  SPEAKER_01: The other question was not the last question, it's now this question.
• 29:41
  SPEAKER_01: Um, do you use uh these event data for your regular operations?
• 29:47
  SPEAKER_01: So, in other words, we had prime day, we got a bunch of data, we got a bunch of traffic.
• 29:53
  SPEAKER_01: Um, should I be using that data for bid maintenance and everything else, you know, from here through August and September?
• 30:00
  SPEAKER_01: Or is that data maybe not as relevant and should be taken with a grain of salt as you know, go back to your normal day-to-day?
• 30:09
  SPEAKER_00: Not necessarily.
• 30:10
  SPEAKER_00: From uh from my experience with Prime Day, prices in CPC go will go up the weeks leading to Prime Day and during Prime Day.
• 30:21
  SPEAKER_00: Mostly our keywords will the our top keywords will remain our top keywords.
• 30:28
  SPEAKER_00: We won't uh have an epiphany with uh other uh other keywords uh pulled out from the hat to uh sell over our inventory and uh that we can push uh in our further events and advertising efforts.
• 30:47
  SPEAKER_00: Uh something uh really important that we can do and leverage from this uh Prime Day and all other events is uh if we're not using already, um we should uh use this momentum of increased traffic, of increased consideration, and uh start or restart our remarketing campaigns.
• 31:11
  SPEAKER_00: And uh something else that uh we can have in mind and I like uh I love doing in the last year is using brand tailored promotions.
• 31:24
  SPEAKER_00: This way we can target brand card abandoners, we can target uh many other good quality audiences like uh top-tier, like promising customers, uh at-risk customers, uh repeat customers, and so on.
• 31:43
  SPEAKER_00: And we can target them with uh a minimum of 10% discount code, but eventually we'll uh probably do on average between uh six and twelve percent out of uh total sales number at the end of the month if we use this type of uh uh Amazon feature, the brand tailor promotions computer.
• 32:10
  SPEAKER_01: Beautiful.
• 32:11
  SPEAKER_01: I love that there's you know, you to your point, you have this huge audience that you built up, and you know, being able to leverage some of these technologies like brand tailor promotions for remarketing, retargeting is a great way just to get those additional sales.
• 32:25
  SPEAKER_01: And these can be pieces that your competitors aren't doing, so you have the opportunity to just uh capture some more of that demand as it fades away as the summer uh dwindles on and we move towards uh towards October and Q4.
• 32:38
  SPEAKER_01: Chris, this was great.
• 32:40
  SPEAKER_01: Thank you so much for joining us on the show and sharing some of your advertising knowledge.
• 32:44
  SPEAKER_01: I know for a fact that all of our listeners are gonna get a ton of value and they're gonna crush it on Prime Day.
• 32:49
  SPEAKER_01: So, Chris, thanks so much for coming on.
• 32:51
  SPEAKER_01: We appreciate it.
• 32:53
  SPEAKER_00: Thank you, Will.
• 32:54
  SPEAKER_00: Thank you for having me on board.
• 32:55
  SPEAKER_00: Have a great sale on Prime Day.
• 32:58
  SPEAKER_01: Thank you so much, Chris, for sharing your invaluable insights on preparing advertising campaigns for Prime Day.
• 33:04
  SPEAKER_01: Your expertise will undoubtedly help our listeners maximize their success during crucial sales events.
• 33:11
  SPEAKER_01: Listeners, don't forget to download our comprehensive Prime Day preparation guide, which will be available in the show notes below.
• 33:18
  SPEAKER_01: It has more details and strategies and tips.
• 33:21
  SPEAKER_01: If you enjoyed today's episodes, please like, follow, and subscribe to Selling Out Giants wherever you're tuning in.
• 33:26
  SPEAKER_01: Your support helps us continue to bring you the latest strategies and tactics from industry experts.
• 33:32
  SPEAKER_01: Until next time, happy selling.