Kiri shares lessons from past
Q4's, as well as lessons learned from 2023's summertime Prime Day
so that consumer brands can be best prepared for the peak selling
season.
Discussed in this episode:
- Prime Day learnings - any level of Prime Day activity, no
matter the promotion, led to a higher uptick in sales than not
doing any promotions at all.
- Simplicity was in favor. Coupons were the top-used promotion
among Acadia clients, Clients using coupons saw a 322% increase in
daily sales compared to the daily average in the two-week lead-up
to Prime Day. Clients offering anything between 5% and 75%
off.
- Prime-exclusive discounts (PEDs) were the second most popular
promotion.
- The flashier deals, like lightning deals and spotlight deals,
are smart bets – for the brands that can afford them. These
placements cost more and can be trickier to navigate
- Have backups for deals that don’t run.Advertising
- Top-of-funnel ads that build awareness and consideration need
to run early
- Switch to performance ads during the event to capture
demand
- Understand that ad performance will suffer leading up to the
event. Some brands say they don’t want to participate in running
ads or discounts - beware!
Ad spend rose 338% year on year, reflecting an annual trend in
increased CPC of 30%. BUT conversion rose 23.6%, in step with
spend.
At the same time, ROAS was up, avoiding erosion thanks to higher
overall prices and better conversion rates that offset higher
costs.
Consider that if your competitors are leaning into tentpole events
with ads and promotions, but you are not, their BSR will improve
and yours will fall behind. Are you willing to take a long-term hit
for a short-term saving?
Read our 2023 peak season prep
guidelines (with timeline!)
here.Read our Prime Day recaps on the
Acadia
blog.