It cannot be denied that Amazon is a competitive marketplace. Currently, Amazon has over 5 million online sellers across its global marketplaces competing for sales. However, despite the competition, some sellers still manage to profit with the help of promotional offers such as Amazon deals and Amazon coupons.
The Marketing Command of Promotional Offers
In order to outsmart and outlast competitors in the eCommerce industry, various marketing tactics are being used by online sellers. The most commonly practiced marketing strategy online is the implementation of promotional offers in the form of deals or coupons.
In a marketing survey conducted by RetailMeNot, it was revealed that more than 60% of online shoppers made their purchase solely based on coupons or discount deals.
When it comes to new brand purchases, the same survey also detailed that 4 out of 5 buyers made first-time orders with new brands that have promotional offers, including coupons or discounts.
Furthermore, almost 70% of millennials will not check-out items from eCommerce platforms without first checking for deals, coupons, or best offers online. Therefore, establishing the marketing command of promotional offers in today’s generation.
Understanding Amazon Deals and Coupons
Although the marketing power of promotional offers like deals, discounts, and coupons have been proven and tested over the past years, not all Amazon sellers are keen on employing such a strategy to their Amazon business.
The lack of knowledge and uncertainty of its success are some of the factors that hinder sellers to pursue such a marketing strategy. Some Amazon sellers are afraid to try the latest innovations in the eCommerce industry including promotional offers.
For that matter, the succeeding paragraphs will be discussing key points about Amazon promotional offers. The following discussions will delve deeper into the mechanics of Amazon deals and coupons, as well as the benefits Amazon sellers may obtain from them.
What are Amazon Deals and Amazon Coupons?
Amazon deals and Amazon coupons form part of the promotional offers and advertising business strategy of Amazon. The commonly employed promotional offers within Amazon include the following:
- Percentage Discounts (e.g., 20% off)
- Dollar Discounts (e.g., $10 off)
- Buy and Save Up To (e.g., save up to $5.00)
Amazon deal, in particular, is a promotional offer geared towards increasing not just business sales but also improvement of brand awareness.
Since it is a promotional offer, an Amazon deal is normally time-bound and is featured on the Amazon Deals page. In the case of a lightning deal, a product is featured for limited hours only, usually around 4 to 12 hours.
As opposed to lightning deals, sellers also have an option to employ a 7-Day Deal on their marketing program. This kind of Amazon deal lasts for a limited number of days and also appears on the Amazon Deals page.
Next to deals would be the coupons. Amazon coupons are marketing strategies that offer discounts on a single product or product set via a coupon.
Amazon shoppers may find coupons through various options, including coupon pages, in their carts, product detail pages, offer listings page, or even the search result pages.
Why Employ Promotional Offers to Your Amazon Business?
Promotional offers, such as coupons and discounts, have been proven an effective tool in getting the attention of shoppers. Since the introduction of the first coupon in 1987 by Coca-Cola, consumers have been hooked to promotional offers.
From the perspective of most sellers, promotional offers are simply considered as tools for profit. Sellers normally perceive coupons and deals as a means of increasing sales conversion rates.
However, promotional offers deliver not just sales into the business. Apart from sales, promotions like Amazon deals and Amazon coupons also contribute to Amazon store traffic increase, effectively moving inventory, creating an opportunity for repeat sales & increase of new customers, and most especially delighting customers.
The benefits of promotional offers when viewed within the purview of Amazon SEO and other metrics, improves not just sales but also brand awareness and customer satisfaction because it undoubtedly adds value to online shoppers.
Best Practices for Promotional Offers
To help you maximize the promotional and advertising opportunity that Amazon offers to sellers, you should learn to adapt to the current marketplace situation. To help you better your approach when it comes to promotional offerings, here are some of the best practices you may observe:
- Define Target Audience
When it comes to promotional offers, such as coupons and deals, it is crucial to identify the target audience first. If you are aiming to increase sales of your school supplies inventory, then you should run a promotional campaign that will target students of all levels.
However, this does not mean that you will need to exclude other customer segments. This simply means that you are clear with your goal and conscious of your decision concerning your promotional campaign.
- Time & Schedule Promotions
One way of optimizing audience or customer engagement is to have proper timing and scheduling of your Amazon deals or coupons. This will help ensure that you reach more customers inclined to purchase your item.
Going back to the school supplies example, you should time your promotional offers days or weeks before the start of school. You should schedule your offers to be more active during hours that most parents or students are also active online.
- Learn to Be Flexible
When it comes to promotional offers such as Amazon deals and Amazon coupons, you should understand that things may not always run smoothly. For that matter, you should be flexible enough to redirect your resources to offers that are showing more potential.
Similarly, you should also be open to combining two or more types of promotional and advertising approaches to increase customer engagement and conversion rates.
Mix and Match
To be successful in Amazon, you should understand that promotional offers alone are not effective. There are many factors you should consider, and these include but not limited to pricing, logistics, optimization, and customer service.
You should learn to adapt and utilize various Amazon seller tools to complement your promotional offers and advertising approaches. In terms of repricing your Amazon products, you may make use of an automated and algorithmic repricer like Seller Snap.