Book your front row seats in advance for Black Friday
Black Friday is a golden ticket towards establishing a dynamic and respected brand, but this ticket does not come cheap, it must be earned through elaborate preparation before and during Black Friday. At this point, it is worth mentioning that when advertising Amazon’s products, sellers auction a pay-per-click (PPC) bid for the highest sponsor rank but the bid is only a third of the pie. In reality, Amazon uses a mix of PPC bids, conversion rate and product price to allocate sponsored rank. Under severe competition, during events such as Prime Day or Black Friday, those three will fluctuate (usually, PPCs and conversion rates increase whereas product price decreases).
The fluctuations can have a massive impact on profit. This is why preparation is key because your bidding strategy and pricing must be changed with the growing competition to guarantee better returns. It is only after such careful planning that sellers can take on a chance on Black Friday. But how should they prepare?