Brands and retailers are preparing for another holiday retail season. This year, marketing successfully across a range of platforms, and making the most of emerging technologies will be crucial for retailers looking to post healthy revenues. Recent reports from Google Think, and Kenshoo, indicate that this year, ensuring a seamless mobile offering, leveraging new platforms and technologies, and providing personalised consumer experiences, will be essential for brands looking to win holiday success.
Last year, Kenshoo released their Global Online Retail Seasonal Shopping Report 2014, which highlighted the importance of four key marketing principles:
- creating a seamless mobile-optimized experience
- leveraging Product Listing Ads (PLAs)
- driving engagement via social
- and using past insights to inform strategy
The report, which identified key opportunities and insights for the 2014 holiday retail period, preceded a bumper period for retailers. And while the four points are still highly relevant for current markets, Kenshoo have further updated their marketing tips for the holiday period (full details to follow).
A recent article by Google has also highlighted key focus areas for digital marketer. In “Four Golden Marketing Tips for a Cracking Online Christmas” the report highlights the importance of mobile, and online video, especially in the context of major holiday marketing calendar days such as Black Friday.
Overall, the consensus is that this year, marketers will need to leverage mobile, emerging technology, and personalized experiences for holiday retail success. But first — a reminder of the key stats and figures to give an idea of what retailers can expect in the coming few months.
How important will the 2015 holiday period be?
Last years Q4 retail results painted a picture of astonishing growth for retail, fuelled particularly by digital marketing channels. Earlier this year, momentology collected 100+ holiday shopping statistics showing just how important digital channels have become.
For example, according to statistics from comScore, e‑commerce sales for the 2014 holiday retail results increased 15 percent on desktop, reaching more that $53 billion — a sizeable increase from the $46.5 billion spent in the November/December period in 2013.
A similar report, IBM Corp.’s Digital Analytics Benchmark found a 13.9 percent increase in online sales overall, and also identified that mobile devices played a larger role than ever before, accounting for 45 percent of all online sales in 2014.
Early projections for 2015 indicate that this year’s holiday retail period will exhibit even stronger growth. As reported on inc.com, Deloitte’s latest retail holiday sales project $965 billion in sales for the period between November and January, representing a 4 percent increase over the equivalent period last year.
For marketers currently gearing up their campaigns, here are our top tips for the coming months.
Top Holiday Marketing Tips for 2015
1) Focus on the Customer First.
Kenshoo’s top marketing tip for the 2015 holiday marketing season is a prudent one: make sure the customer comes first.
Personalization of consumer experiences is one of the most effective ways of ensuring a fantastic brand experience. Using data to inform strategies, to reach shoppers at the right moments with compelling messages. Technology has enabled new opportunities and marketers can, for example, “consider using paid search clicks to automatically create Facebook campaigns”. By using new technologies and platforms such as this, brands can invest in new opportunities to create fantastic user experiences.
2) Push early to meet consumer demand and saturate your campaign messages.
According to the Google study: “Christmas starts in September.” The statement, which is based on search data, shows the impact digital consumer journeys have had on consumers, whereby consumers are thinking about their holiday shopping earlier and earlier each year. and search volumes also increasing each year. In fact, the data indicates that by October, 40% of Britons will have commenced their Christmas shopping.
3) Mobile optimization will be absolutely critical.
Last year, Christmas sales via smartphones and tablets were up 55 percent, and 37 percent of online sales (or 8.9 percent of all total retail sales) were made directly via a mobile device*. Perhaps one of the most telling stats that Google found, was that in 2014, consumers who shopped across multiple channels and devices spent four times more than those who didn’t — a telling statistic for marketers looking to maximise revenues by investing in multichannel.
4) Get ready for the biggest Black Friday yet.
2014 Black Friday sales surpassed $1.5 billion in revenues in the US. In the UK, £810 million was spent online, marking the biggest day for UK online sales ever. Retailers have every opportunity to benefit from this uplift, and a telling statistic was last year retailers offering discounts saw an average sales uplift of 180 percent*.
Mobile accounted for 55 percent of all queries*, and IBM disclosed that almost half of all the online purchasing during Black Friday in the UK was on mobile – outperforming the US. This year, Brands will have to ensure systems are in place to handle the huge amount of traffic, and that both web and mobile sites are optimized to perform.
5) Emerging Channels and Formats are key to gaining a Competitive Advantage
Kenshoo highlight a number of emerging technologies that offer marketers new opportunities to amplify campaigns. To name a few: buy buttons on platforms such as Pinterest, Twitter and Google, Instagram Ads, and Yahoo Gemini (the brands new native mobile advertising offering).
Google have again highlighted that online video will a key battleground to win consumer hearts and minds. Last year online views of Christmas themed advertisements were up over 3,000 percent from the previous year. Video is a great platform for emotional content, which is fast becoming a key objective for brands to produce and stimulate engagement. The search brand singles out YouTube as key platform, with watch time increasing 60 percent on the previous year.
6) Capitalize on Shopping Campaigns and Dynamic Product Ads
Specifically for marketers engaging in cross channel efforts, Kenshoo highlight an opportunity product-specific advertising efforts, such as Facebook’s Dynamic Product Ads.
According to Kenshoo “the latest enhancements enable more targeted up-sell and cross-sell opportunities showing complementary products to past purchasers” and marketers can use the channel to extend reach into the Facebook Audience Network to engage users across the mobile app ecosystem.
Similarly, with 52 percent of retail searches on the Yahoo Bing Network unique to Bing, measuring a calculated market share of 29 percent, creating Bing Shopping Campaigns (which allows the import of Google campaign structures) can add a lucrative additional channel.
Getting ready for the holidays
A key takeaway for marketers currently planning holiday marketing campaigns will be in ensuring dynamic and cross-channel marketing initiatives, that leverage advertising and display technology from emerging platfroms. This will create an experience that personalizes consumer journeys and ensures the maximum impact of holiday campaigns.
*Stats from Google Four Golden Marketing Tips for a Cracking Online Christmas.
Are you gearing up your holiday marketing campaigns? What are your top tips?