3 Things Every Advertiser Needs to Know About the Holiday Shopping Season
The holiday shopping season begins once again. People have always associated the holiday season with giving, and the holiday shopping season is one of the best periods for businesses.
The shopping season will look very different in 2021, so ensure your marketing strategy focuses on online sales and efficient delivery services.
Any advertiser worth their salt knows this. They will adjust their marketing strategies according to the unique customer behaviors during this period and harness more sales.
What is Different for Advertising in the Holidays?
Holidays offer a lucrative marketing opportunity to advertisers since their target audience is more attentive than ever and is always looking for a good bargain.
As businesses prepare for their Black Friday and Cyber Monday promotions for the start of this year’s holiday season, it may be difficult to predict what the market will look like.
Here’s what most advertisers agree on – online shopping and mobile shopping will continue to grow. Consumers are still wary of delivery delays and filling problems experienced last season, leading to early purchases. And customers want a personal taste of the purchase.
People are shifting their holiday shopping earlier in the season. Marketers should begin planning their marketing strategies early enough to gain the maximum from the season.
How Can Advertisers like you Adjust Marketing Strategies to the Holiday Shopping Season?
Here is what leaders in advertising can do to set up for success in holiday sales:
1. Timing is King
Early sales promotions are not always the best (for business or consumers) when it comes to timing your promotions. There is no unique formula to solve all timing issues as this will depend on the company.
For small companies, it’s crucial to have a plan for how much time you can afford. What level of deals can you afford to bring at any time during the year? It would not be realistic for many small companies to offer huge discounts, say a 30% discount a month or something on those lines.
Think about who your target audience is, and that should guide you on where you should focus. Suppose your customer base is very flexible and can continue earning more money. Then they may have a budget that allows them to take advantage of those discounts early.
Now, suppose your target audience is a market segment that earns a steady income. In that case, it does not matter how early you start advertising and campaigning. Customers already have a budget to use and when those funds will be allocated and made available to spend.
2. Holiday shopping is more than prospect acquisition
Many products often see the highest number of first-time customers on Black Friday, Cyber Monday, and the retail holiday season. It is crucial to have a plan to retain this first-time business.
There is a lot you can gain using a loyalty program, well-crafted email marketing. Marketing by text messaging is also an effective way of keeping your new customers updated on your products.
Open communication and feedback channels so that you can engage your customers from start to finish. Make the process of your target audience to communicate with you if they have any complaints. Understanding your customers and resolving their issues promptly will help build your brand.
3. Personalizing customer data improves your brand
With the latest changes in cookies and customer data collection, it is essential to have an existing strategy for collecting the data you need to drive your marketing strategy.
Having a complete view of your customer data helps you use those metrics to deliver better customization and optimize your website. Focus on what your target audience wants or needs instead of just focusing on your inventory.
Use your data to track the purchasing behavior of your customers. Ask yourself: How can I use the power of eCommerce platforms so that my clients find what they have already shown interest in?
Some Quick Holiday Shopping Trends
It often sounds like the holidays are coming early in the year – and for a good reason. More and more people are making early purchases over the holiday shopping season.
- 39% of US consumers and 42% of UK consumers will start shopping for the holidays in October, according to a 2021 survey by Amazon Advertising.
- 47% of electronics buyers in the US and 45% of electronics buyers in the UK plan to buy them in October even though the most popular time to buy the latest gadgets is Black Friday and Cyber Monday.
- 46% of US and 47% of UK consumers reported that they would begin buying gifts of clothing and accessories in October.
Marketers should adjust their marketing strategies to meet the ever-evolving consumers’ needs during the holidays. Early planning is beneficial as more people move their holiday season shopping to October, and October is not too early to run holiday shopping advertising campaigns that inspire gift ideas and offer deals.
How to Help Your Team Prepare for the 2021 Holiday Season?
Here are six steps you can take to maximize your sales during the holiday shopping season.
1. Plan and set goals for the season
Planning is always vital for any retailer, but preparation for the busiest time of the year should include a detailed review of the previous year’s holiday strategy and operation. Businesses can use this information to determine lists, plan deals, create promotional offers, and set seasonal revenue goals.
2. Get sufficient working capital
It may be necessary to secure extra money to expand the inventory, hire seasonal staff, or set up holiday shows during the holiday shopping season.
3. Review and improve technology
You need to make sure your technology is accurate and withstand the considerable traffic of online holiday shoppers.
4. Increase your holiday inventory
There is nothing as frustrating as losing a customer due to an out-of-stock product. To avoid this situation, ensure your online store is complete, and you have plenty of the best-selling gifts available.
5. Use social media for advertising your product
Use the social media platform to ensure that your customers find you and stay informed of your products and services when they are ready to buy.
6. Provide competitive delivery options
You can stand out from the competition and win the hearts of last-minute buyers by providing free shipping or fast delivery.
7. It’s expected that holiday shopping will begin earlier this year
That’s correct. Due to a combination of pent-up demand, increased online activity, and major retailers’ changing sale schedules, holiday shopping will likely begin earlier this year (like last year).
Consumers are excited to purchase and rejoice. Back-to-school buying is expected to be “exuberant,” according to retailers like Gap, and the trend will likely continue into the holidays. While the typical Christmas season begins in late November or early December, Amazon moved Prime Day to October last year, prompting other merchants to launch similar, earlier promotions.
According to Criteo, one-quarter of American customers research purchases a month before Black Friday. In fact, early holiday bargains will entice 30% of shoppers to try a new online business, far ahead of Black Friday. According to a Facebook poll, over half of buyers began Christmas shopping before Black Friday in 2020, typically in lieu of in-store doorbusters.
All of this implies that companies and advertisers should begin communicating with both loyal and new customers via digital and mobile channels as soon as possible and provide discounts and incentives to encourage them to begin Christmas shopping early. Lead generation is essential for attracting new consumers.
Crafting Your Strategic Holiday Marketing and Promotions During the Pandemic
Know your market: Adjust the advertising tone and message to match the market you are trying to attract.
Know your offer: Focus on discounts and free shipping, rather than added value, gift with purchase, or buy one, get one offer.
Know your strategy: Take an audience and customer journey-based approach.
Please take time to ensure you have a safe and joyful Holiday period as the holiday shopping season approaches, as well as the pandemic. Please keep the following safety guidelines in mind when you go shopping:
While Shopping in a Store
ALWAYS WEAR A MASK. Carry a SANITIZER
- Don’t buy more than you’ll be able to carry.
- Prepare ahead of time by bringing a companion or asking a store staff to assist you in carrying your things to your car.
- Before pulling out your credit card or checkbook, wait until you’re asked. An astute criminal would relish the opportunity to steal your account information through shoulder surfing.
- If you detect an unattended bag or box, alert a security guard or store clerk. The same is true if you take public transportation.
- Go home and clean up before you get into other chores.
The COVID-19 pandemic has some unique challenges that advertisers must consider when crafting marketing for the holiday shopping season. More people are going shopping early. With the tips and steps mentioned above, businesses can leverage this lucrative season to make more sales and grow.