Don’t Miss Out On These Retail Holiday Hacks To Maximise ROI This Season
There’s an incredible profit opportunity during the holiday season, and retailers should not miss any chance to get a good slice of overall revenue pie. But how can you make sure that your marketing efforts don’t go amiss? We’ve done the digging for you and here are our top tips to maximise your marketing without blowing the budget!
Retailers Chime In
Big Commerce surveyed more than 1000 business owners and found that the biggest seasonal increase in sales happen between October to December. 56.88% reported a surge in sales within this period in the year.
Among the brands surveyed, 18.48% started holiday planning in August, while 21.26% start planning for holiday strategies by September. All in all, 35.72% reported that they began holiday planning 1 – 4 months earlier in 2018.
Measuring Campaign Success
Every campaign you plan should have their own funnels. This way you will truly measure which is effective. Even before the holidays, you can take advantage of the awareness stage where customers are sporadically spreading their holiday shopping.
61.55% of brands often use Google Analytics to measure holiday campaign success. You can see what products are performing well or what pages gets the most traction. There are also 22.74% of retailers who use Quickbooks, Square, Spreadsheets, Amazon, Springbot, ShipStation and MailChimp.
With this data, it’s imperative that your product, whether offline or online, is prepared to gather the data needed. Consider using Pixels and tags for your website, RFID for your offline stores, and customer information for both retargetting and email marketing.
Best Places to Market and Advertise
Facebook is expected to be the primary channel where a lot of successful holiday marketing will take place. 51.61% believe that FB marketing is the way to go, and 57.2% think that email marketing would be a successful strategy.
You can also optimise your Facebook pages to broadcast your campaigns. How about a closed group for special offers? A bot for all your flash sales. The options are limitless.
Depending on your brand too, you can leverage other channels for Holidays. You can use Instagram for home and living, fashion, or other products that are visually appealing. Take advantage of SEO, Google Shopping, and Google retargeting for those who rely on search engines for shopping. Pinterest also works well to reinforce your brand’s products when it comes to visual tips and tricks. And why not join tradeshows for actual product showcase? Influencer marketing can also create a personal appeal for your brand.
Holiday Promotions to Consider
A good balance between price and delivery of orders will help you attract more customers. A sense of urgency to buy more is already happening this season, so you have to do an extra push to make things work out for your sales. What makes buying irresistible for shoppers is when you offer promos that make them want to buy now, instead of later.
Here’s a list of promotional ideas that you can use this season:
#1 Free shipping with a minimum order amount
#2 Flash sales
#3 Product bundling
#4 Buy 1 Get 1 Free
#5 Expedited or same-day shipping
Delivering the Goods
Now you’ve run a successful campaign that everyone buys into, what happens next? It’s another story to make sure you deliver on your promises and make customers happy.
You must ensure that you’ve got enough inventory and reliable shipping methods to cater to customers. What’s more, your site should be optimised for online and mobile, to ensure you retain customers.
Manage strategic pricing by keeping tabs on the prices of your competitors. Retailers also advise that a balance between organic and paid promotions should be done to effectively put your products out there, no matter where it is promoted online.
In a Nutshell
It pays to plan months ahead of the holidays for you to effectively sort out every detail of the buying experience. You can also apply what you’ve learned from holiday sales to other seasons of the year.