Prime Day: secrets to optimize your advertising investment, reduce waste, and maximize sales

Amazon's promotional events, such as Prime Day, represent a unique opportunity to increase sales and improve your brand's visibility. However, they also bring higher competition and elevated advertising costs. Understanding when your audience is most likely to convert and how their purchasing behavior changes can significantly impact your campaign performance.

One of the most effective tools to optimize your budget during promotional events is dayparting analysis. Thanks to Amazon Marketing Cloud (AMC), you can gain insights into your brand/product purchase concentration by time slot. This allows you to plan (manually or using tools) your ads at specific times of the day, thus maximizing the effectiveness of your advertising campaigns.

Thanks to this type of analysis, you:

• Maximize conversions, by concentrating your budget during peak hours;
• Reduce costs, by lowering your bids during high CPC and low conversion times;
• Adapt to consumer habits, by improving the relevance and effectiveness of your ads.

Key insights from Witailer for Prime Day 2023

Optimal times for conversions and campaign optimization

• High conversion rates in the early morning: data shows that conversion rates peak between 6 and 9 AM, before starting the work or school day;
• Impact of work hours: during the last Prime Day, there was a significant drop in purchase propensity during the common lunch break (12:00 - 3:00 PM), indicating that users see the ad but do not click the "buy" button.

Differences between days and campaign optimization

• End-of-day urgency: on the last day of the 2023 event, campaigns saw a notable increase in conversion rates during the final hours before the promotions ended (9:00 PM - 12:00 AM), indicating the need to be visible to potential consumers making last-minute decisions;
• Cost efficiency: a higher ROAS was observed during the early morning hours (6:00 - 9:00 AM) of the first day, suggesting that this is a convenient time to allocate the budget and achieve a better return. CPC and CPM rates vary throughout the day, with lower costs in the early morning and late evening hours, allowing for optimized budget allocation to get the most out of your advertising spend.

How can Amazon Marketing Cloud help you?

Amazon Marketing Cloud provides detailed insights that can answer crucial questions to optimize your campaigns:

At what time of day are your viewers most likely to convert?

By analyzing conversion rates and ROAS, you can identify the most effective times to run your ads, ensuring that the budget is used efficiently.

How does purchasing behavior differ between the first and last day of the event?

Understanding these patterns allows for dynamic adjustment of ad spend, focusing more on high-conversion periods.

How can I optimize my campaigns during promotional event days?

With AMC insights, you can create a tailored strategy that maximizes ad performance, ensuring that you do not exhaust your budget during peak times.

Conclusion

By leveraging Amazon Marketing Cloud insights, you can optimize your advertising campaigns to achieve better results during Amazon's promotional events.

Don't let your campaigns run out of budget at crucial moments. Contact us to discover how we can help you reach your business goals!