Prepare for Prime Day 2024: Amazon Sellers Guide to Discounts, Promotions, and Coupons

Summary

This video script offers an exhaustive guide to promoting products on Amazon, covering various promotional strategies such as deals, coupons, Prime exclusive discounts, and brand tailored promotions. It explains how to set up lightning deals, exclusive discounts for Prime members, social media promo codes, and percentage off promotions. The script also delves into the importance of setting budgets for promotions and the stacking potential of coupons with other discounts, providing a comprehensive toolkit for sellers to boost product visibility and sales on Amazon.

Takeaways

• 🛒 There are various promotional strategies on Amazon, including advertising, deals, coupons, and brand tailored promotions.
• 💡 Deals, specifically Lightning Deals, are limited-time offers that appear on Amazon's deal pages and in search results to attract customers.
• 💰 Deals, particularly Lightning Deals, come with a cost and must be scheduled in advance, often for special events like Prime Day or Black Friday.
• 🔒 Prime Exclusive Discounts are discounts available only to Prime members, with a minimum discount requirement of 15% off the average selling price.
• 📆 Promotions like social media promo codes and percentage off deals can be set up with specific start and end dates and minimum purchase quantities.
• 📈 Promotions can include tiered discounts, offering increasing percentages off based on the quantity purchased.
• 🎟 Coupons are a common discount method on Amazon, visible on the product listing page and can be stacked with other promotions.
• 🔄 Subscribe and Save coupons offer recurring revenue and additional benefits like an extra 5% discount on the first order for subscribed products.
• 🔄 Reorder coupons target customers who have previously purchased the product, encouraging repeat business.
• 🚫 Amazon limits the discount rate for deals, promotions, and coupons to a maximum of 50% to prevent extreme discounting.
• 📝 Brand tailored promotions allow targeting specific audience segments like at-risk cart abandoners or repeat customers, but require a minimum audience size.

Q & A

What are the various promotional methods available on Amazon for sellers to increase product visibility and sales?

Amazon offers several promotional methods including advertising, creating deals, coupons, brand tailored promotions, and regular promotions. These methods help sellers to increase their product's visibility and sales by offering discounts and special offers to attract consumers.

What is the difference between a regular deal and a lightning deal on Amazon?

A regular deal is a general discount offered on a product, while a lightning deal is a limited-time offer that is usually more aggressive in terms of discount and is featured more prominently on Amazon's deals page to attract immediate attention.

How can sellers access the deals section on Amazon?

Sellers can access the deals section by navigating to their menu and selecting the 'advertising' option, where they will find the deals section along with other promotional tools.

What are Prime exclusive discounts and how do they benefit Prime members?

Prime exclusive discounts are special offers available only to Amazon Prime members. These discounts provide Prime users with additional savings on products, encouraging them to purchase more through the platform.

What is the minimum discount requirement for Prime exclusive discounts?

Prime exclusive discounts must be at least 15% off from the product's average selling price within a 30-day window, ensuring a significant saving for Prime members.

What are social media promo codes and how can they be utilized for influencer marketing?

Social media promo codes are special discount codes that can be shared by influencers or through social media channels to drive traffic to Amazon. They are useful for influencer marketing as they can track sales generated by specific influencers or campaigns.

How do percentage off promotions work and what is their benefit to consumers?

Percentage off promotions allow consumers to receive a discount based on a percentage of the product's price. They benefit consumers by reducing the cost of their purchase, and can be applied to multiple items or tiers, offering increasing discounts for bulk purchases.

What is a brand tailored promotion and how does it differ from other types of promotions?

A brand tailored promotion is a targeted offer based on audience types specific to a brand. It differs from other promotions as it allows sellers to create offers for specific segments of their audience, such as brand followers or repeat customers, providing a more personalized marketing approach.

What are the eligibility requirements for brand tailored promotions on Amazon?

To run a brand tailored promotion, a seller must have at least 1,000 people in the targeted audience group. This requirement ensures that the promotion reaches a significant number of potential customers.

How do coupons on Amazon work and what types of coupons are available?

Coupons on Amazon provide a direct discount to consumers and can be applied at checkout. Types of coupons include standard coupons for all customers, subscribe and save coupons for recurring purchases, and reorder coupons targeting customers who have previously bought the product.

What is the maximum discount limit for deals, promotions, and coupons on Amazon?

The maximum discount limit for deals, promotions, and coupons on Amazon is typically up to 50% of the product's price to prevent extreme discounting that could undermine the product's value.