Marketing Tricks – Year-end holiday spending accounts for a large portion of annual gross revenue for all retail brands, and consumer purchasing patterns are affected by inflation, so 2222 retailers are under additional pressure in the fourth quarter. “Key digital marketing strategies this season include mixed shopping, search optimization and customer experience,” says Kassi Socha, . “This will lead to word-of-mouth brand exposure, customer acquisition and revenue growth.”
A recent consumer survey revealed when, why and how consumers shop this holiday season, and digital marketing leaders should adjust their strategies accordingly.
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Holiday shopping has changed much more than the big shopping days like Black Friday and Cyber Monday during Thanksgiving in the US in late November. Consumers are now preparing for the New Year holidays by shopping in early and mid-autumn. Research shows that nearly 50% of consumers will start shopping in October or November, and 16% of consumers now buy holiday gifts year-round. Only 9 percent are waiting until December. Our suggestion: Consider creating an online category for gifts that live year-round to appeal to the “always shopper” or “early shopper” consumer. This makes it accessible to buyers at any time, and keywords related to gifts create long-term SEO value. Before fall, evaluate how to grow this category on your website and app and increase traffic through digital and in-store performance channels.
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Inflation and fears of supply chain disruptions are also driving consumers to buy early. As average prices rise, consumers are likely to have to spend more to buy the same items they bought a year ago. As a result, they will buy fewer items or switch to generic, store brand, lighter or discounted versions. Our tip: Show buyers how they can stretch their budget. Among shoppers who plan to spend more, 82% say the increase reflects inflated spending rather than an increase in discretionary income. Sort items and organize digital gift guides by price and check for free shipping.
According to our consumer survey, gift inspiration for recipients usually starts with wish lists. Twenty-two percent of shoppers also go to Google first before online reviews or reporting a brand. Our tip: Make your gifts stand out in search results. Optimize your organic and paid search strategies to be highly visible to buyers. Enhance and add digital wishlist capabilities so users can easily create and share their wishlists via social media, SMS or email. by post Not only will this drive people to buy from your brand, but you’ll also collect meaningful first-party data to tailor product recommendations and predict shortages or overstocks.
Sixty percent of shoppers plan to do most of their shopping online this holiday season, and 21 percent plan to do so more than last year. Thirty-eight percent plan a hybrid approach using digital and physical materials, such as shopping online for curbside pickup or same-day delivery. Our offer: optimize the omnichannel experience. Promote your omnichannel digital offerings by adding filters to find inventory and sending special emails. emails about stock available at the user’s local store. Expand mobile payment and expedited shipping options to increase online conversions. Think: PayPal, Apple Pay, Google Pay and Amazon Pay. Implementing these technologies both online and in-store can eliminate shopper friction and increase the speed of purchase.
Bottom line: The year-end holiday season is a critical time for retail brands to hit their annual revenue goals. Inflation and economic issues have changed consumer purchasing values, affecting the way retail digital marketing leaders approach their marketing efforts. This holiday season, promote hybrid shopping across digital and non-standard channels, extend the gift-giving season through search, and create opportunities to share wish lists.
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Kassi Socha is a lead analyst helping clients better position their brands for success through the strategic use of retail and consumer insights.
Connect with CMOs and marketing leaders for the latest data on marketing technology, trends, innovations and more. As a proud sponsor of Digital Summit Philadelphia 2019, I had the pleasure of joining hundreds of marketers from across the country and hearing more than 30 speakers discuss a variety of topics related to today’s digital marketing climate. From podcasting 101 to YouTube marketing hacks to better understanding Gen Z, there was something for everyone.
After the lights dimmed and the 150-plus audience in the packed room fell silent, it was show time. Some speakers were more comfortable than others with large audiences, but regardless of the topic or speaker, everyone had something valuable to offer. With my notebook and pencil, I listened carefully and took away everything there was to learn from the best in the industry. Despite the very diverse group of talented speakers, there seemed to be three recurring concepts that were at least mentioned in, if not entirely centered around, every session. Here are the top 3 marketing hacks from Digital Summit Philadelphia that should be on your list in 2020 as a modern marketer.
The first topic that always seemed to come up was the concept of “marketing with personality.” It doesn’t matter if the session was about email marketing. to email tricks, podcast best practices, or social media development, this idea of ”marketing with personality” has always been emphasized.
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One of the speakers, Eric Shutt of SummitX, gave a speech on the importance of experiential marketing. He talked about brands like Airbnb that have captured the essence of experiential marketing by offering consumers a range of “experiences” they can have through the Airbnb app. Airbnb is not a marketplace for renters, it’s a marketplace for experiences, opportunities and good memories. A marketing strategy like this allows consumers to connect with brands on a personal level through a real-life experience that will be remembered for a lifetime.
He also mentioned clothing and lifestyle brand Patagonia, another brand that has done a great job of experiential marketing. With high prices and a niche product line, it’s no surprise that a company like Patagonia isn’t for everyone. But despite the seemingly narrow market, they were able to develop and expand their business at an amazing speed. They used experiential marketing as a vehicle to get to where they are today. Whether it’s a trip to an unknown part of the world or an investment in sustainability and fair trade, Patagonia’s customers know they’re buying more than just a jacket or t-shirt, but an idea, an experience and a brand that illustrates its personality.
These companies have used experience and personality to connect with their consumers in a way we haven’t seen before. We’re in a marketing transition where even B2B strategies are less about portraying strict, unflappable professionalism and more about fun, values-based content and communication strategies that make people feel better than they are on the edge. The next generation expects less and expects more. They expect fewer suits and ties, less fake professionalism, less aggressive sales cycles, and more human connection, authenticity, emotion, and most importantly, products and services that do more for the world than previously expected.
It should come as no surprise to any marketer that part, if not all, of your marketing strategy should demonstrate the value of the product or service you are promoting. As a marketer, you know it’s hard to compete with thousands of other sellers to get your product or service in front of a consumer. Right now, your competitors are writing more content, making better videos, and spending a lot of money to get their product or service to the exact person you’re looking for. So how can you change your strategy to focus?
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Another speaker, Jon Youshaei from Instagram, talked about his technique for creating blog titles/content for his work. It uses the EAT methodology and does something VERY well: it shows the value of your content. Here’s what I mean:
A recent college graduate is looking for something that will add value to them. They’re looking for a solution to their problem, and with the help of modern technology, dozens of blog writers are competing for the sixty seconds they’ll spend reading.
With this strategy, John gives us a way to create content that demonstrates value to the consumer by immediately addressing what they want, what their objections are, and when they want it. Whether you’re writing a blog or building a marketing strategy from scratch, following the EAT methodology will help you narrow down your message and give the consumer what they really want.
The number one rule of marketing is to understand your audience, and if you think it’s not worth mentioning, you’d be surprised how many marketers get so wrapped up in their ecosystem that they forget what the consumer really wants. Keynote speaker Seth Godin began his talk by summing up the subject perfectly with a quote that he says defines marketing:
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What does this really mean? He began his speech by telling a story that happened at a red light. He was driving his 10-year-old Mazda Miata, while a man drives a blue Ferrari
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