A Summer Guide for Amazon Brands
Black Friday and Cyber Monday can be pivotal for Amazon brands, requiring strategic planning and precise execution. Preparing months beforehand can set brands up for a successful holiday season. Here’s a detailed guide on how to get ready, packed with actionable steps and critical timelines.
Inventory Management
Proper inventory management is crucial to avoid stockouts or overstocking during the peak sales period. Below is an outline of how to analyze past performance, forecast demand, and strategically manage inventory to ensure your brand is fully prepared.
Analyze Historical Data:
Review Past Performance: Brands should review sales data from the previous year’s Black Friday and Cyber Monday to identify top-selling products, seasonal search volume, and purchase patterns.
Forecast Demand: Third Party, or 3P Brands, have the opportunity to use tools like Amazon’s FBA Dashboard, Product Opportunity Explorer, Brand Analytics, and external software like Helium10 and Jungle Scout to project search demand. For optimal results, aim to complete this analysis by September to meet Amazon’s Black Friday inventory cutoffs.
Strategic Ordering:
Order Deadlines: For brands placing manufacturer purchase orders (POs), place POsby mid-August to avoid supply chain delays. Factor in lead times from suppliers, potential shipping disruptions, and customs clearance if importing.
Buffer Stock: Maintain a buffer stock of at least 20-30% above your forecasted demand to account for unexpected surges. Utilize domestic warehouses to hold additional safety stock beyond the inventory in Amazon’s fulfillment network.
Optimize Storage:
Amazon Fulfillment Centers: As you strategically order inventory, also ensure your products reach Amazon’s fulfillment centers by early October. Use the Inventory Age and Excess Inventory reports to avoid long-term storage fees.
Third-Party Warehouses: Diversify your logistics between Fulfilled by Amazon (FBA) and Fulfilled by Merchant (FBM/MFN). Consider utilizing third-party logistics (3PL) providers to handle overflow inventory.
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Pricing and Promotions
Effective pricing and promotions can significantly impact your sales during Black Friday and Cyber Monday. The following points cover how to set competitive prices and plan impactful promotions to attract buyers.
Competitive Pricing:
Price Adjustments: Monitor competitors’ prices using automated alerts from tools like Keepa or CamelCamelCamel. Adjust your pricing dynamically to stay competitive.
Lightning Deals and Coupons: Schedule Lightning Deals and set up coupons at least four weeks in advance. Aim to finalize these promotions by the end of September.
Monitor Pricing: Utilize automated minimum-price guardrails to ensure price drops do not disqualify products scheduled for holiday Lightning Deals or Prime Exclusive Discounts which require specific percent-off criteria based on the past 30-day pricing.
Promotion Calendar:
Email and SMS Campaigns: Plan your email and SMS marketing campaigns to build anticipation. Start your campaign series around or before November 1st (at least four weeks prior to Black Friday) with a focus on teasing upcoming deals and exclusive offers.
Social Media: Increase your social media activity by mid-October. Use platforms like Facebook and Instagram to run targeted ads and engage with your audience.
Secure Influencer Collaborations: Collaborate with influencers to promote your products. Initiate partnerships by early September to allow ample time for key posts and promotional mentions during peak holiday shopping days.
Product Listings and Reviews
It’s been said many times: optimizing your product listings and generating reviews is essential for standing out in a crowded marketplace. Here’s how you can enhance your product listings and accumulate reviews in time for some of the biggest sales events of the year:
Listing Optimization:
SEO Best Practices: Ensure your product titles, bullet points, and descriptions are keyword-optimized and Rufus friendly.
High-Quality Images: Update your product images to meet Amazon’s quality standards. Include lifestyle images and infographics that highlight key features and benefits.
Review Generation:
Vine Review Program: Enroll any new FBA products released in the months before Black Friday in Amazon Vine to help accumulate reviews on new products in time for holiday sales.
Engage with Reviewers: For Brand Registered Brands, actively monitor customer reviews and respond promptly to and 1-3 star reviews, expressing addressing any concerns or issues raised.
Check out more reviewing tips in TripleLine’s article, The Vital Role of Amazon Product Reviews for Sustainable Brands.
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Advertising and Marketing
A well-executed advertising and marketing strategy can drive significant traffic to your listings. The following steps outline how to plan and optimize your Pay-Per-Click, or PPC, campaigns and leverage external traffic sources.
PPC Campaigns:
Campaign Planning: Review and adjust your Amazon PPC campaigns by mid-September. Consider allocating a larger budget for high-traffic keywords and seasonal search terms.
Bid Optimization: Use automated bidding strategies and regularly monitor your campaigns to optimize performance. Keep in mind that bids, budgets, and placement modifiers will likely need adjustment during peak shopping days to avoid missing sales.
Logistics and Fulfillment
Efficient logistics and fulfillment processes are key to meeting customer expectations during the holiday rush. Below, we discuss how to prepare your fulfillment operations and manage shipping deadlines effectively.
Efficient Fulfillment:
Prep Your Warehouse: If relying on FBM/MFN sales, ensure your warehouse is fully staffed and operational. Conduct a test run of your fulfillment process by mid-October to identify and address any bottlenecks.
Returns Management: While returns are a part of online shopping, how they are handled can greatly affect customer satisfaction. Efficient and hassle-free return processes can build trust and loyalty, while poor handling can lead to negative reviews and loss of customers.
Customer Service and Experience
Providing exceptional customer service and a seamless shopping experience throughout all of the above processes is especially crucial during peak sales periods. Here are some strategies to enhance customer support and optimize the user experience on your listings.
Customer Support:
24/7 Availability: Enhance your customer support to handle increased inquiries. Consider outsourcing to a call center or using AI-driven chatbots to provide round-the-clock assistance.
FAQ Updates: Update your FAQs to address common holiday-related questions. Provide clear information on shipping times, returns, and product availability.
User Experience:
Mobile Optimization: Ensure your Amazon storefront and product listings are mobile-friendly. Test your listings on various devices to confirm compatibility.
Photo by Joshua Rawson-Harris on Unsplash
Final Preparations
As the big days approach, performing final checks and having contingency plans in place is essential. Here’s how to conduct mock sales events and prepare for potential disruptions.
Mock Sales Events:
Dry Runs: Conduct mock sales events to test your systems and processes. This helps identify any weak points in your supply chain, order processing, and customer service.
Backup Plans:
Contingency Planning: Prepare for potential disruptions, such as inventory shortages or shipping delays. Have backup suppliers and alternate shipping methods ready.
Conclusion
By following these steps and adhering to the suggested timelines, you can ensure that you are well-prepared for the busiest shopping days of the year. With thorough planning and execution, Black Friday and Cyber Monday can significantly boost your Amazon sales and set the stage for a prosperous holiday season.
If these tactics seem overwhelming or you don’t know where to start, TripleLine is here to help. Reach out for a consultation here.
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