It has been six years since the first Prime Day, Amazon’s infamous annual summer sale.
We know the impact of Prime Day on Amazon spend and sales, but since its launch, Prime Day has impacted ad spend on other retail media networks.
The retail media network boost spurred by Prime Day provides more options than ever on where and how we place ads. Here were the top tips for Prime Day strategies employed by brands in 2021:
Because the dates for Prime Day are released only a few weeks ahead of time, the most successful brands had an ad spend reserved and ready to pull out of their back pocket when Amazon announced – there was no going to the CFO to ask for incremental dollars.
With demand artificially increasing, the most successful brands also zeroes in on other retailers, such as Walmart, Target, Home Depot and Best Buy.
These brands also recognized that upping their bids was not the smartest strategy – taking advantage of a lift in the tide was. The exception to this was when brands were intentionally sourcing new consumers from the competition. Be careful about how you ramp up and down for a summer sale moment.
At the end of the day, it is not just about getting a transaction, but about creating strong loyalty from existing and new customers. When that conversion is made, your brand can remarket to that new customer and monetize the shopper IDs.