Amazon Prime Day has become more than just an Amazon event; it’s now a major moment in the retail calendar that other businesses respond to with their own massive sales events. In the run-up to Amazon’s July 16-17 Prime Day, Target, TikTok, and Walmart were among the major businesses launching their own answer to Prime Day. The popularity of Prime Day and its competing events also challenges businesses to figure out an advertising strategy beyond Prime Day itself. Let’s take a look at strategies for capitalizing on this month-long phenomenon. The lessons you learn as an advertiser should prepare you for succeeding with Black Friday, which has also evolved into a multi-week event.
The Expanding Influence of Prime Day
Amazon’s Prime Day 2024 set new records, with U.S. shoppers spending $14.2 billion over the two-day event, an 11% increase from the previous year. Mobile shopping drove nearly half of these sales, reaching $7 billion, an 18.6% increase from last year. But how did Amazon’s competitors do? Quite well, from what we can discern.
TikTok’s Deals for You Days
TikTok’s “Deals For You Days,” held from July 9-18, focused on engaging its predominantly younger audience with short, engaging video content and influencer partnerships. Popular products included fashion, beauty, and tech items. The event capitalized on TikTok’s viral nature, driving considerable consumer interest and sales through exclusive discounts and promotions. TikTok’s event saw high levels of engagement, particularly among Gen Z and Millennial shoppers. The interactive and visual nature of TikTok helped drive sales, although specific revenue figures were not disclosed. The event helped establish TikTok as a player in the e-commerce space, attracting a younger demographic that is highly active on the platform.
Target Circle Week
Target Circle Week, from July 7-13, offered substantial discounts across various categories, including back-to-school essentials, electronics, and household items. The event was designed to capitalize on the popularity of Target Circle (Target’s loyalty program), providing personalized deals and early access to members. Target reported a strong performance with increased traffic and sales. Specific figures were not provided, but the discounts of up to 50% on thousands of items attracted significant consumer interest. Target Circle Week effectively engaged loyal customers, enhancing their shopping experience with tailored offers and substantial savings. The focus on back-to-school items also drew families preparing for the upcoming school year.
Walmart Deals
Walmart’s “Walmart Deals,” held from July 8-11, was positioned as the largest deals event in the company’s history. The event offered deep discounts on electronics, home goods, fashion, toys, and more, with early access for Walmart+ members. Walmart Deals generated significant sales according to third-party estimates. While specific revenue numbers were not disclosed, the event featured notable discounts, such as $100 off a TCL 65” Class QLED 4K Smart TV and substantial savings on the HP Victus gaming laptop and other high-demand items. The event successfully attracted a broad demographic, capitalizing on Walmart’s extensive physical and digital presence to maximize reach. Early access for Walmart+ members added value to the subscription service and boosted engagement.
Strategies for Advertisers as You Anticipate Black Friday
For advertisers, this month-long series of retail events presents a challenge: managing advertising budgets effectively across multiple high-stakes sales periods. This challenge is not going away, either. As noted, Black Friday has become more than a day – it’s a multi-week phenomenon online and offline, with Amazon typically setting the pace for everyone else. With major sales events clustered around the same time, advertisers need to strategically allocate their resources to maximize ROI while ensuring their campaigns remain competitive. Here are some strategies to help advertisers navigate this complex retail landscape.
Segment Your Audience
Amazon’s audience is diverse, covering a wide range of demographics. Advertisers should focus on applying Amazon’s vast data resources to target specific consumer segments based on purchase history, browsing behavior, and Prime membership status.
Target’s audience tends to include young families and middle-income shoppers. Ads for back-to-school supplies, household essentials, and apparel can be particularly effective. Utilizing Target Circle’s personalized offers can help in targeting loyal customers with specific discounts.
Walmart attracts a broad demographic, including value-conscious shoppers and rural consumers. Focus on promotions for everyday low prices on electronics, groceries, and household items. Early access deals for Walmart+ members can be an effective way to capture this segment.
TikTok’s audience is predominantly younger, with a strong presence of Gen Z and Millennials. Short, engaging video content, influencer partnerships, and viral trends can drive significant engagement. Products related to fashion, beauty, and technology tend to perform well on this platform.
Apply Platform-Specific Ad Formats
For Amazon Ads, capitalize on Sponsored Products, Sponsored Brands, and Sponsored Display ads to enhance visibility within Amazon’s ecosystem. According to Amazon, brands that advertised leading up to and during Prime Day have shown a 216% increase in awareness and 214% increase in considerations, compared to the week before.
With TikTok, focus on short, engaging video content and capitalize on influencer partnerships.
For Target and Walmart, use a combination of display ads, social media promotions, and search ads to drive traffic both online and in-store.
Implement Cross-Platform Retargeting
One of the most effective strategies advertisers can employ during this competitive retail period is cross-platform retargeting. This involves tracking consumers as they move across different platforms and ensuring that ads follow them, maintaining brand presence and increasing the likelihood of conversions. For instance, a consumer who views an ad on TikTok for a specific product can be retargeted with related ads on Amazon, Target, and Walmart’s websites. This continuous engagement helps keep the product top-of-mind, encouraging the consumer to complete the purchase.
Cross-platform retargeting requires a cohesive strategy that uses data from multiple sources to create a unified view of the customer journey. This includes using cookies, device IDs, and other tracking technologies to monitor user behavior across different sites and apps. Advertisers should also utilize advanced analytics and machine learning algorithms to predict which users are most likely to convert and tailor ads accordingly. Additionally, it’s important to customize the ad content to suit the platform’s unique user experience (as noted above), whether it’s short, engaging videos for TikTok or detailed product descriptions for Amazon.
Monitor and Adjust in Real-Time
Use real-time data to track ad performance and make dynamic adjustments. This approach allows for immediate tweaks to improve engagement and capitalize on trends.
Prioritize High-ROI Products
Focus on promoting products that have historically performed well during sales events. Highlight deals on popular items to attract more clicks and conversions.
True Interactive Can Help You
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