How To Set Up & Run Effective Lightning Deals in Amazon | Geoffrey Howell | Skillshare

How To Set Up & Run Effective Lightning Deals in Amazon

Geoffrey Howell, Digital Marketing & e-Marketplace Professional

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5 Lessons (21m)
    • 1. Intro

      0:38
    • 2. What Are Amazon Lightning Deals?

      3:16
    • 3. Why Run Lightning Deals?

      2:36
    • 4. How To Set Up A Lightning Deal

      9:01
    • 5. Key Points To Remember

      5:04

About This Class

In this class I'm going to teach you all about Amazon Lightning Deals - what they are, where they appear, and how they are beneficial. I'll then teach you how to set up your first Lightning Deal, and finish with some helpful tips to make sure your Amazon Lightning Deal is as successful as possible. Enjoy!

Transcripts

1. Intro: Hi, everyone. Thanks so much for checking out my class. I'm Jeff Howell, and in this lesson, we're gonna teach you how to set up and run effective lightning deals in Amazon. For those who are unfamiliar, we're going to explain exactly what lightning deals are and how they're used and where these deals appear on Amazon. Then we're gonna show you how to set up your first Lightning deal through Amazon Seller, Central Marketplace. And then finally, we're gonna close with the key things to remember to make sure your lightning deal has a strongest impact as possible. Four customers on Amazon. So click on that and roll button and we'll see you in the next section. 2. What Are Amazon Lightning Deals?: welcome back in this section, we're going to describe what lightning deals are and where they appear in Amazon muscle. Also the structure of Amazon lightning deals. They have a certain structure that is very helpful to know Aziz well as the various star and reviews requirement that lightning deals typically have because they're so prominently featured. Amazon wants to make sure that your offer is legitimate in the customer's eyes, meaning it's been socially validated. Has plenty of stars. Positive reviews. In other words, customers love it, and that will involve the quantity and the discounted price as faras. How effective lightning deals Air structured So lightning deals are time bound promotional offers that air featured on Amazon's gold box page. So if we go to amazon dot com, and specifically if we go to Amazon Dash GP Dash Gold box, this is where all of Amazon's Lightning gil offers appears. So just go here, And if you're familiar and go bargain hunting that I'm sure you're familiar with this page . But you can see all of these products are headlined Deal of the Day. Now it's a time bound promotional offer meeting that lightning deals only occur for a certain amount of time, typically 4 to 6 hours, so you can see here where this is ticking. This is how much time is left in the deal in order for you to get that price. So it's a time bound promotional offer. Also, you can see the prices have been heavily discounted. This is part of Amazon's requirement for having your deal show up on a lightning page. While Amazon they don't give strict requirements as to what that discount must be. Typically, it's a least 20% if you're unable to do at least a 20% discount off of your current retail listing on amazon dot com, there's really no point, and Amazon will, in all likelihood disregard. Deny your request for lightning deal. So it's a time bound promotional offer that appears on this page, which is one of the most visited pages on Amazon. So obviously it's great great exposure for your product if you have excellent stars and quality reviews and are able to discount your product as well. But this page is visited by millions and millions of viewers. So which a great place to be if your product isn't as well known, and you really want to get discovered? It's It's terrific. There's all kinds of bargains that span all of the categories. So this is where your product will appear up for your lightning deal. So, yeah, that's the link right there. Now, as I mentioned lightning deals, they have very high requirements. Amazon does as far as the product start requirements. You can see all of these have at least a four star review again. Amazon doesn't give specifics on what the minimum requirement is. However, they do mention in their bylines that you wanna have very high at least 3.5 to 4 star reviews and at least a suitable count. So all of these, as you can see reasonably high stark out. Nothing perfect, of course, but all above four stars. And so this is one of the requirements, because if you're getting a discounted deal, it has to be violated that the value is still there in the customer's eyes. So this is where lightning deals appear. In the next section. We're going to talk about why lightning deals are used and why they're effective in moving your particular product on Amazon 3. Why Run Lightning Deals?: welcome back in this section we're going to talk about why run lightning deals on Amazon and the benefits that they have. Specifically, we'll be talking about the marketing effect, the halo effect and Overstock end of season as really good reasons on why one should run lightning deals. So, first off the marketing effect. As mentioned, your lightning deals will appear on the Gold Box page, which is without question one of Amazon's most visited pages. Millions of visitors each day visit here just to see what the best offers are. As most people know, the reason people initially go to Amazon is because of price. People are motivated by price, and we know that on the Deals page the Lightning Deals Page. This is where people are going to find the best bargains. So by having a lightning deal, you're automatically gaining exposure to millions of customers that who wouldn't normally see your product. So it's a great place to gain additional marketing by being featured on Amazon's Deals page . So the second reason is the halo effect. So, for example, let's say I'm selling this cyber tower, and this is one of the items I'm listed from, a customer. I'm gonna click on this product. But also what I'm going to do is see what other products this particular companies offer. And maybe I'll gain interest and perhaps by one of those. This is called the halo Effect, when one of your products that's featured leads to the purchased or interest or enquiries into other products that you have, so this could be very helpful. If you have a large line of products and you want to feature one, there will inevitably be some spill off of those customers checking out your other products . It's just a natural way that Amazon functions because it's so easy to navigate and you could see other products that might be offered by this company. So that is the halo effect. And lastly, another great reason is Overstock. End of season. Let's say I'm selling this tower. However, I have 500 of last year's models, and I want to get rid of them because I'm getting ready for this year's new models. So lightning deals are a great way to run promotions to move these units because typically you won't be moving these any faster than you would since you're retailers will already know that you're getting ready for next year's, and they're probably having difficulty as well. So the great way to move your you're Overstock or your end of life products is to run lightning deals because you can offer them in a deep discount. And again they will lead to positive things from these other two attributes. Marketing in the halo effect. So those air three great reasons on why you should run lightning deals now in the next section, we're going to go over how to set up your first lightning deal through Amazon Seller Central. 4. How To Set Up A Lightning Deal: Welcome back in this section, we're going to explain how to set up a lightning deal through Amazon seller Central. So if you're a seller on Amazon that I'm sure you're very familiar with this platform. This is the platform where everything is done through for sellers on Amazon marketplace. So this is the home page. You're going to go to advertising and then lightning deals. So I was in here earlier, and I realized that because this is still a relatively new platform for Amazon right now, they're not showing the button where you can download the Excel spreadsheet, which is used to complete and filling all your data for the lightning deal. So it's I'm assume Amazon is just doing some testing right now, so it's not available. But we can still show you using an older one that I've downloaded so typically on this page , the lightning deals dashboard. There also be an additional button, which you click to download the Lightning deal template. So let's just assume that I did that downloaded and saved it to my, uh, my desktop, and this is what the file looks like. So this is the lightning deals template that you're going to fill out with all the relevant information and then resubmit to Amazon. So it's a word she just like this. This is information that I have already filled in for my mock product that we're gonna use in this example. But this would all be blank, and then you would just be going calling my column and filling in the information. So what's good is that if you ever get confused, I don't know exactly what things mean. If you see these bottom tabs here right here, it shows there's a reference tab, which shows you the various product lines that Amazon has is as well as the dates for the respective weeks that you have to put in, um, the category requirements. This describes Amazon's requirements for a review quantity the profit, how much you're willing to discount the minimum deal value, etcetera. Now again, these air not firm guidelines that Amazon 100% a deer suit. Everything is flexible and negotiable. But these are The basic guidelines, however, have seen deals that don't necessarily meet all of these requirements, and Amazon will still accept them. So it just depends on your particular product offering so don't take these, as you know, absolute rule that your products have toe have these particular attributes. But you do want them to be close. You do want them to look like toe. Look at close to these as possible is like a benchmark. So let's go back to the worksheet and we'll just start So the week at the time of the deal So this will tell us when we want the deal to run. So if we go to the reference page, we can see here that week. One is generally 1st January fourth through the 10th of 2016. Ah, Week 9 February 29 through March 6, etcetera, etcetera. So in our worksheet, we're going to run for week 24. So here we just put in our Amazon log in, which is just our name country. If you're in the US, you put us if you're UK put UK. So since we're in the U. S. Will put here seller name. This was a company on. I was working with extreme label park that is name of their Amazon store on the Amazon marketplace. Email address seller I d the seller I D can be accessed through Amazon Seller Central. If you have any questions on how do exactly access it, just shoot me an email or and I can show you exactly how to find that your category line. This is the category that your particular product is because Extreme Label Park was selling camera accessories there in the general line of camera. However, depending on what your product is, it will go in a different category, so you can see here here the various categories listed outdoors sports product cetera. So this is where you find your particular category. So we're here. The ace in this is the remember from previous lessons that this is Amazon's unique identifier. For your particular item. It's the U. P. C. And it's very easy to find. You can find it on any Amazon detail page. So if we go to amazon dot com and we'll just click on any product here to show you exactly where it is, let's go here, click on that. So this is the firm in SS six Bees detail page, and the casing appears in two places. One, it appears here in the U. R L. It always starts with a B. The other place, it appears, is down here under product information, where it says Jason, and that is where you find your products basin, which is like Amazon GPC. So we got that. You put that in for the product that you want to run. The lightning deal for this is the copy that you want to use to name your Amazon item for the lightning deal. Here is where you put the customer how many reviews your customer starch review stars. Excuse me that your product has this one. At 4.5, we put the merchants que in here. Now this is your particular skew for the product. Or if you're selling another company's product, this is the skew information that they provided for the particular product. Fulfilment channel. If you're f B A, you put f B A f B A stands for fulfillment by Amazon meeting that marketplace vendors sellers. They ship their product to Amazon's fulfillment centers, and then from there, Amazon will handle the actual fulfillment to the individual customer. Obviously, that is for a fee, but in future lessons will be talking about the differences in various Amazon fulfillment options and which one is the best for you, depending on your seller level. So the deal type, obviously, is lightning deal. There's various other kinds that will be talking about but for this lesson flight meals, inventory quantity available now this is how many you have available for the deal. Let's say you have 500 units of the old computer monitors were trying to get rid of, and you want to get rid of all of them. See, put 500 here. Lowest price. Camel camel camel dot com This is a place that compares the pricing of your product across all of Amazon and the Web, I believe, but Amazon for sure. So this will take the average price of your product if there are multiple sellers of your product and this is the proposed deal price. So this is the price off of your MSR P that you are willing to discount so we can see here that the current price of this product, the small capsule camera case, how it's listed on Amazon right now is 29 99. My proposed deal for this is 20 so that's a discount of $10 or 33%. In other words again, as I mentioned previously, you wanna have a least a 20% discount for Amazon to even consider your deal being listed on the best deals. Lightning Deals Page and always better to have more than that marketing tag. Its prime day. Excuse me his prime day, As mentioned, That's a 33% discount Total deal inventory value. This is the number of units that you're able to sell times the proposed deal price. So for this example, we have 200 units were available. The proposed deal prices $20.200 times 20. That gives us a total deal inventory value of $4000. Now the higher this number is, the more likely Amazon will be to accept your deal if you don't meet this star and review requirements. So keep this in mind that, as mentioned prices a serious motivating factor for shoppers on Amazon. So you want to make sure your discount is highly competitive. Current FDA inventory If you're running through F B A, this is the requirement. This is the listing of how many units you currently have in stock now. Not all of these fields are required. The greens and blues are acquired. The pinks. I do not believe they're required. As not all sellers are f B A. Yeah, that's correct. And again, the green, Yes. So the pink and the green fields are not required in this particular template. But you want to make sure that you're putting in the green and the blue fields to make sure Amazon gets the relevant information. So once you have that all filled in, you know exactly how many units have available. You know exactly how much really discount it for. So you close that and then you're gonna go back to the cellar Central page. And there's again. There's typically a button here where that says, Upload where you can upload that file So you upload the file to Amazon, and it typically takes two weeks for them to get back to you. So if you're running a deal, for example, right now is late October and I'm running. I want to run a deal for Thanksgiving. I want to submit it and at least the new next two weeks, because I want to make sure there's a buffer of at least two weeks before I intend for the lightning deal to go live because Amazon takes at least two weeks for the deal to be published. Ah, for them to get back to you on the deal. So that's it. It's a very simple process, as most processes are on Amazon's, its automated. So that's how you submit your lightning deal and you're and you're good to go. So in the next section, we're going to go over the key points you want to remember for your lightning deal if you want it to be competitive and really create that return of investment that you hope for on Amazon, so we'll see you in the next lesson. 5. Key Points To Remember: Welcome back in this final section, we're going to talk about the key points you want to remember for your lightning deal when you're setting it up to make sure you have the most effective lightning deal possible on Amazon. So some of these key points are the competitive price. We're also gonna talk about this star and review requirement and also having a tight detail page as well and the importance of that. So the first point, a competitive price? The whole point of the Lightning deal is TOE offer consumers the best deal possible. So if we go to the Amazon Best Deals page is amazon dot com slash gp slash gold box. This is where all of Amazon's best deals a page as you can. Best deals appear. Excuse me. As you can see, all of these deals are heavily discounted. This vacuum here's 50% 56% off right here, 26% auf. And you can see that in order to show up on this page, you want to offer the best discount possible there. Zero point in offering your product to Amazon discounted. If your discount is only 10 to 15% because There are so many different companies that are offering these offers that are much higher discounted and will be higher in line to be featured on the best deals page. So in order to give your product the best chance of appearing on Amazon's Best Deals page, you have to offer the biggest discount possible. So if you're selling a pair of headphones and your retail price on Amazon is $30 for example, you want to offer a discount of at least 5 to $7 to get in that 20 to 30% range. Otherwise, there's no point a Amazon may not even feature it on the best deals Page and be customers won't necessarily look for items that are only discounted such a small amount. So to be featured on the deal of the day page, make sure your discount is a strong as possible. Secondly, you want to make sure you have plenty of units available for this particular offer of the lightning deal. For example, if you only have five units of your product that you're willing to part with with a discounted price again. That is one of the factors that Amazon takes into consideration which, when deciding which of the products they're going to feature on the Lightning deal page. So to ensure that you have the best shot possible of getting your product featured on Amazon's Best Deals page, make sure you have a suitable quantity available for this offer. I would say at least 50 units available that you were able to discount at 20% market least . This will give you the best chance possible of being featured prominently on Amazon's best deals page again. So the third point is the star interview requirement. Again, nothing is set in stone, with Amazon as faras, the minimum number of reviews or the minimum star count that you have to have. That being said, though, you want to make sure your product is a strong as possible, meaning at least 3.5 stars and at least 10 reviews those air just bare minimum requirements . You can see the products here 4.5 stars with 5526 reviews. That's huge. Here's well four stars 7 7051 and you can see these air at the top. And as it goes down, we can see there's less and less reviews. 46 year A 3.5 53. So these are factors that Amazon takes into consideration when deciding which products they're going to feature on the best deals page. So to give your product the best chance possible, make sure you have at least 3.5 stars and at least 10 reviews. This would least give you a chance to be featured on the prominent Best Deals page Now. Finally, the last thing you want remember is toe have as tight a detail page as possible because, let's say you were able to make it onto this page. We want to make sure that when customers click on your particular best deal, that the detail page has all the information and leads to that actual conversion. So that being said, you want to make sure your title is strong, you want to make sure that your bullet points describe the product exactly and show its attributes and show how this product it differs from other products and how it has superior value. You want to make sure that all of your items, all your photos are optimized that you have the best photos available. If there's certain features, you can add graphics to really make things as simple. And it's clear for the customer, as we all know, customers shoppers on Amazon. They have a very limited time span, so you want to use the few seconds you have to grab them to make things very clear and very simple for them. This will inevitably lead to a farm or conversions, as it's just making the shopping process as simple as possible. Amazon is already so easy, but that being said, there were so many competitors offering similar items on Amazon. So you want to make sure that when customers click on your ad that your product pops that it stands out from all the others and has a unique selling factor to make people want to buy. So those are the three main points you want to remember when setting up your lightning deal . Thank you so much for checking out this lesson. We would love it if you left comments in the fields below, and if you have any questions, feel free to reach out to me and thanks so much and we'll see on the next lesson