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Marketing strategy during_the_holiday_season

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Marketing Strategy
During the Holiday Season
netcorecloud.com

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Marketing Strategy During the
Holiday Season
Now that you’re ready for the holiday shopping rush, what have you done to al...

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Leverage Emotions: Your consumers will be exposed to hundreds of ads. Make
your ads stand out by including language that w...

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  1. 1. 12 6 9 3 Marketing Strategy During the Holiday Season netcorecloud.com
  2. 2. Marketing Strategy During the Holiday Season Now that you’re ready for the holiday shopping rush, what have you done to alert your shoppers of your sales and promotions? Weeks ahead of the holiday rush, make sure you’ve created a well-rounded marketing action plan, ensuring that you get the additional holiday traffic to your ecommerce. Here's how you can break your marketing plan over the next 4-weeks: To organize your marketing action plans, break your plan into four units - messaging, timing, pricing, and marketing tactics. Messaging Matters Messaging is what will make your deal stand out and speak to your audience. Keep the following in mind when honing your message: Value Comes First: The golden rule of marketing is to- always amplify the value of the product or service, first and foremost. Black Friday and Cyber Monday (BFCM) promotions are usually value-based but coupled with how it comes at the lowest price ever. Marketing Strategy During the Holiday Season Week 1 Prepare your marketing plan and create new marketing collateral in relation to holiday promotions Week 2 Schedule promotions and offers. Run your marketing engines. Week 3 Continue promotions and optimize for conversions Week 4 Follow-up with new offers and extend sales 
  3. 3. Leverage Emotions: Your consumers will be exposed to hundreds of ads. Make your ads stand out by including language that will prompt an emotional response in your customers. Treat your ads as a medium to talk to real humans and speak to their desires, wishes, and ambitions. For example, an ad for a women's sweater can read - “Thank your Mom, for all that she does!” A simple message like this will prompt users to think about their parents and to purchase the accompanying product. Tap into the gift-giving holiday season and the emotions that it brings about. Establish the Right Kind of Urgency: The key is to establish urgency in a subtle way to communicate the scarcity of your product or service offer. For example, “Don't worry, you’ve still got time to shop. The sale will continue through the evening.” Another way to do this is by placing a countdown timer on your website which will inform users about the time left for the sale to end, without the need of highlighting it in your messaging. Customized and Dynamic Marketing Copy: At every stage of the buyer’s cycle, there should be marketing copy that is focused on moving them to the next phase. While your early stage marketing copy is meant to lure your customers to shop, the late stage copy should be focused on converting your customers into paying customers. What works in the beginning won’t necessarily work later on. For instance, when it’s checkout time, your content should reflect on making it easier to finish the transaction, there’s no need to include copy that has them going back to browsing your store. Embrace the Reviews: User-generated content like ratings and reviews play an important role in shaping perceptions about your products. Shoppers find reviews to offer authentic thoughts on the quality of products sold online. As a marketer, you must pay extra attention to this bit and work on resolving any issues mentioned in the negative reviews and respond to them in a convincing manner. Doing so will project an earnest effort on your part to resolve any issues or outstanding questions. Marketing Strategy During the Holiday Season    
  4. 4. Time It Well Time is always a crucial factor for the high-rush period. These months are marked by an increased urge in purchase behavior during a certain window of time. People usually start preparing lists of their purchases months ahead. With the size of the competition increasing every year, brands have been launching promotions earlier and earlier, starting as early as September. Start Early, Finish Strong: Holiday promotions start as early as September for some brands, while others like to hold back and launch promotions in mid to late October. Thanks to the pandemic, this year could be a game changer. With the onset of the season, there are a lot of people looking to start their shopping even before the BFCM sales kick in. Reward the Early Bird: Come up with something like early access to the sale in your announcements preceding the day. Create special promotions for early shoppers, such as early access to sales, and build a sense of exclusivity to your most loyal customers. Right Timing Puts You Ahead of the Game: Amidst the shopping season planning, this could easily be one of the factors that marketers forget to pay much attention to. Be mindful of the timing of when your ads are scheduled for each of your channels including Facebook, Instagram, Youtube, email marketing, text messages, and push notifications. The better the timing, the more your messaging will resonate. Schedule Everything: Set up a simple yet fully functional marketing calendar outlining the various activities, timelines, stakeholders, discounts, channels, and other related factors. Having such a document will ensure everything is being executed on time, and will help keep focus on the bottom line. Marketing Strategy During the Holiday Season    
  5. 5. Playing the Pricing Game There’s more to pricing than meets the eye. Before even deciding on the pricing, there’s a lot to consider, including checking the competition, market demand, inventory stock, production costs, and profit margins. To get started, you need to understand a few important numbers such as the production cost, overhead cost, and breakeven cost to arrive at your profit-making pricing. Pricing is an iterative process that could take some trial and error. Here are a couple of ideas for pricing, that you can use this holiday season: Bundle Pricing: Bundle pricing gives the perception of high value and low pricing when buying certain products together. At the same time, it allows businesses to keep a decent margin for profit without letting discounts hurt them. Many businesses use this strategy to push their low selling products along with in-demand ones. You can also cross-sell or upsell your low-priced products along with your popular products, encouraging users to add low-priced products to their cart while checking out. Dynamic Pricing: For your eCommerce store, dynamic pricing can be deployed using algorithms and smart software systems. These systems analyze product popularity, past and market trends, inventory availability, and sales predictions. Below are some ways dynamic pricing can be implemented: Marketing Strategy During the Holiday Season  
  6. 6. Marketing in Action: Once you’ve addressed your content, pricing, scheduling and data measurement, you’re ready for the final execution of your marketing plan. Not all marketing channels and tactics are equal. While some require more resources, they could help maximize the reach of your businesses. For beginners, start with calculating the average cost of acquisition or CAC using the below formula: Loyalty and Rewards Programs: Drive repeat business through existing customers by offering loyalty discounts and rewards for their purchases. This can include special discounts, free shipping, or free gifts with purchases. Discount Codes and Coupons: It’s no secret that shoppers love discounts. They work as a great pull for customers to revisit your website, increase the cart size, and make purchases. For brands, it can result in a good boost in sales and brand awareness. To make discount codes work for you, you need to make them easy to find, remember, and use. Make them visible during checkout and ensure that your customers don’t abandon the cart. Remember to make them short and simple while creating them like “Holiday2020”, “BlackFriday2020”, “Thanksgiving2020”, etc. Marketing Strategy During the Holiday Season   Marketing Campaigns and Promotions: The most basic rule of success this holiday season is that shoppers will buy from brands that offer exciting deals and savings. While you may not be able to offer deals that big brands like Amazon or Walmart can do, you can still generate excitement around sales in your eCommerce store using the following options: 
  7. 7. Marketing Strategy During the Holiday Season Optimize SEO: Your SEO strategy is the most important part of your marketing engine. Having an effective SEO strategy will ensure a steady flow of traffic from search results. Start by identifying important and relevant keywords for your products. This needs to be location and demographics specific. Along with this pay attention to your competitor’s SEO strategy. Tailor your content to reflect what your customers are searching for, but be mindful that it won’t be easy to rank for some keywords because of high competition. Use the following tactics to help boost your SEO: 
  8. 8. Marketing Strategy During the Holiday Season Buyer’s Guides: Make gift-giving an easy task for your customers by creating several different gift guides, customized for different personas. Not only will this help curate the best of your products, but this will also help to boost your SEO by using relevant keywords and detailed product descriptions. Dedicated Landing Pages: By creating dedicated landing pages for BFCM deals, you can create an opportunity to add SEO value and highlight products, collections and offers without changing your main website. Holiday-Themed Blog Posts: Connect with your shoppers through your blog by posting about holiday themes that are relevant to both your customers and to your ecommerce site. Voice Search: Voice search might seem a bit far off in the future but it's already being adopted by several ecommerce brands. The ease and immediacy of voice search has shoppers connecting more with their digital friends, Alexa, Siri, and Google. Remember when setting up your voice search, there’s a difference in search behavior when using text and when using voice. For example, a user would use “best TVs under $300” when typing into search and would say “What are the best TV options under $300?” while using voice search. Simplify with Automated Workflows: With so much to be done in such a short period of time, a robust marketing automation systems can do a lot of heavy lifting for you by creating workflows for marketing along with handling logistics like cancellation requests, delivery, return, feedback, and general queries.  
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