2023 Amazon Prime Bid Deal Days - What We Learned

Mike and Nevin look at the brand new spending holiday Amazon made up this year: Big Deal Days. What did we learn with Finch clients and what does the data tell? The episode focuses heavily on tactical strategies for Prime Day and Black Friday, with the host providing a heads up to the listeners. While acknowledging the episode's tactical nature, the host also encourages listeners to revisit the previous three episodes for more in-depth discussions on strategy. These episodes cover topics such as promotion strategy, segmentation strategy, audience engagement timing, and goal setting. The host emphasizes the importance of a well-built strategy for Black Friday and the entire Q4 period. The episode delves into the advantages of having access to real-time data from Google Analytics and Shopify for making rapid decisions and adjustments in bidding and budgeting. The speaker highlights that Google Analytics provides almost real-time data through GA4, enabling marketers to make quick decisions and adjustments. Similarly, the actual data from the Shopify site offers real-time insights that can inform decision-making. The speaker underscores the value of real-time data availability, particularly when compared to the data lags experienced with Amazon. Marketers can leverage this real-time data to adjust bidding and budgets on the go, allowing them to promptly respond to performance changes and optimize their campaigns. The episode also emphasizes the significance of rapid decision-making and adjustments, especially on Black Friday, known as one of the most stressful days for eCommerce. The speaker suggests that maintaining a consistent effort in optimization is crucial on this day, and real-time data access empowers marketers to react swiftly and make necessary adjustments to their strategies. Overall, the episode highlights the importance of real-time data from Google Analytics and Shopify in facilitating rapid decision-making and adjustments in bidding and budgeting, particularly during critical events like Black Friday. During time-limited events like Prime Day, the transcript stresses the need to analyze data and make pivot decisions based on performance. The hosts emphasize the significance of incremental changes in revenue improvement. If a strategy is working well, they stress the importance of pivoting and continuing with it. Conversely, if something is underperforming, they emphasize the need to recognize it and make necessary adjustments. The hosts acknowledge the potential for analysis paralysis when examining data but stress the importance of using the available data to make informed updates and decisions, as this is key to success during time-limited events like Prime Day.