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One of the most fundamental laws of sales is that everyone loves a sweetener. Offering bargains to customers is a sure-fire way to drive up some numbers, and if you’re a Vendor on Amazon you need to have that in your toolkit.
If you were to drop the price on a product from one day to another, chances are you won’t really be able to raise it up again - there’s only so much price volatility shoppers will tolerate, especially when competition is tough, so promotions are a great way for you to be able to temporarily drop the price and boost sales without having to be trapped at a lower price point beyond a certain time window.
Not only do they display lower prices on your product detail pages, but they will also be featured on the Amazon Deals page, which happens to be - for obvious reasons - one of the most visited pages on the entire site. Additionally, promotions are often featured in emails sent to Amazon customers.
Promotions are also a great way to sell off overstocked items while having the added benefit of turning more customers onto your product or brands, and because they increase the chance of product conversion, they will also have a beneficial impact on your A9 ranking. This also tends to result in somewhat of a halo effect around the products after the promotion is over, helping them sell better than they did before the promotion because they appear higher in the search results.
Amazon has a number of tools available to let your customers have a discount:
Pretty straightforward - the normal price is slashed and it is temporarily cheaper. Amazon usually approves these within a day and they run for over a month. It only shows up on specific product listings but presents quite good value.
These tend to be quite visible as they feature on Amazon’s Deals page. In addition to driving traffic to the product, they also drive awareness of your wider catalog - as it lets you feature the entire catalog and complementary products under discount. When customers click on a product offering, they will be taken to a page featuring all the discounts you are offering.
It will also be available longer than a Lightning Deal, typically up to two weeks.
As the name suggests, these are quick little promotions that only last several hours - up to six, usually - but are the most visible on the Today’s Deals page. You probably won’t see a solid long-term benefit from any given lightning promotion, but they can sometimes be very effective for short-term sales boosts.
In addition to there being no real clarity over the long-term gains from Lightning Deals, visibility tends to be a function of the size of the discount (as customers can sort by the size of the discount), so the overall value of this promotion is questionable. Unlike with Best Deals, you can only include one item per Lighting Deal.
Another effective promotion method is vouchers - the little tags you see below-listed prices offering a certain amount of savings. These are great because they don’t require some of the larger fees that other promotions do, and they drive traffic.
According to Amazon, a vast majority of the clicks vouchers produce come from outside the product detail page, meaning that shoppers are interacting with the product while not specifically looking for it. Not only does this drive traffic, but it increases the likelihood of that additional traffic being converted into sales.
To set vouchers up, you start at Vendor Central:
To set them up in bulk:
More commonly, you will set them up individually
Whether in bulk or one by one, as the voucher offers are running, make sure to check back and monitor their performance - this data will inform how you carry out future voucher promotions.
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