Donna Sharp, a textile company which produces quilted bedding and handbags, was not utilizing discounts and coupons for previous Amazon prime days.
As a result, they lost out on major sales opportunities.
Nectar’s Account Management team applied a coupon strategy spanning over 35 days, from June 28, 2022 to Aug 1, 2022, which capitalized on peak sales days before, during and after Amazon Prime day.
Our team first identified the products that would benefit most from applying the coupons, which was about 15% of the products. The products included top sellers, new products to which we were trying to drive traffic, and overstocked items.
After identifying the products, the team grouped the coupons by categories and collections. This was critical for tracking the performance of each coupon to adjust the strategy and budgets.
This longer-term coupon strategy allowed us to spread discounts over multiple sale related days like July 4th and August back-to-school, along with capturing sales from people who missed out on prime day sales.
We were able to piggyback on top of each sale related day, and drum-up more interest leading to higher sales.
On a daily basis, the team closely monitored performance for the number of clips and redemptions, units sold, sessions, CVR, and product sales.
Based on the findings, the coupon budgets were increased.
As a result of this coupon strategy, sales grew 56% year-over-year (YoY) for the 35 days by over $130,000. Prime day only sales increased by 45% YoY, which was over $10,000.
The conversion rate (CVR) also increased 24% YoY for the 35 days.
Putting more thought into the coupon strategy can make a big difference to the bottom line.
If you’re struggling with creative ways to drive more revenue, feel free to reach out to us by filling out the form below.
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