Notice all the festive decor, winter fashion, and people buzzing on the streets? Congratulations! The holiday season is officially here. It’s when people open up their wallets and hearts, shopping for themselves and their loved ones. And this year, everyone’s amped up to celebrate the holidays more freely after two years of pandemic gloom and doom. BFCM weekend sale is pegged at a whopping $158 billion in 2022 – with a market full of deal hunters walking out of the pandemic and straight into a recession. It means more sales, increased revenue, and a golden opportunity for ecommerce businesses in the form of the Black Friday Cyber Monday (BFCM) sale. And with the holiday season, BFCM sale comes the advertising clutter. We’re here to help you break through it, stand out, and grow your revenue and customer base this holiday season.
This blog guides you on creating an on-the-ball omnichannel advertising and multichannel attribution strategy for the shopping and gifting season.
It’s the perfect opportunity for ecommerce businesses to build their customer base through advertising in two ways:
- Attract new customers through lucrative first-time offers when they are most ready to spend.
- Retain old customers by offering excellent loyalty programs that go beyond the BFCM sale.
Ready to have a highly profitable holiday season sale? Read on to learn more about ReBid’s marketing best practices.
Improve customer acquisition and reduce CAC with omnichannel advertising
Almost two-thirds of customers are expected to shop online in the BFCM 2022 sale, making it an excellent platform for ecommerce businesses. And Black Friday is only the beginning. Customers continue shopping for holidays even after Cyber week, extending well into Christmas and year-end. As a result, the customers your DTC or ecommerce business acquires now promise staggering CLV if you know how to give the experiences they want.
Offering deals and discounts will not be enough – every business does it on the BFCM weekend. Instead, you need a well-planned omnichannel advertising and measurement strategy that starts during BFCM and keeps showing results throughout the year. Here are some marketing best practices you can adopt to make the most out of this year’s sales.
Omnichannel advertising best practices for this holiday season
1. Create your customer segments
Your omnichannel advertising strategy isn’t something you put together at the last minute. Many customers look forward to the Black Friday sale to make purchases, which means you need to start marketing much before the weekend.
But remember, BFCM is a sale that every competitor has their eyes on. A small online store on Etsy, a DTC brand like Allbirds, or a large-scale retail chain like Target – all spend on advertising and customers are inundated with ads everywhere they go on the Internet.
So what’s the key to cutting through this ad clutter? Personalization, of course. Customers not only care about the offers and deals but also about their experience with the brand. 80% of consumers are more likely to purchase if you provide a personalized experience.
For example, you are an apparel brand launching a new sportswear line. As a part of your marketing best practices, customers who previously purchased from you and have all the behavioral traits that indicate they are sports enthusiasts are the ones who should receive offers and deals on the new line. For new customers, you throw in first-purchase discounts that motivate them to buy any product from your brand.
By personalizing your omnichannel advertising, you are also giving your customers a reason to choose your brand over your competitors. However, creating such a strategy requires long-term customer data orchestration. That’s the only way to have a handle on their behavioral attributes like past purchases, add-to-carts, and brand and lifestyle affinities and needs. That’s why your ecommerce advertising strategy needs to start weeks before holiday season actually hits.
2. Build FOMO with limited-time offers
BFCM sale has created a culture of seasonal shopping. But since it is the first day of holiday shopping, people often spend a lot of time checking out deals on digital high streets without specific purchase intent or lists. This reflects in the number of spontaneous purchases people make – nearly 60% of all purchases in BFCM sales are impulsive.
Ecommerce, DTC and other brands can leverage this spontaneity by using FOMO in their ad creatives and messaging. For example, deals that last only during BFCM offers only for specific numbers of purchases, or even discounts for pre-ordering, work like a charm during the shopping weekend. Likewise, using words such as “Hurry” or “Limited Time” creates a sense of urgency that drives customers to purchase impulsively.
American designer bag brand Coach uses this exact omnichannel advertising strategy to kickstart its BFCM sale and attract more customers to purchase early.
3. Spend more on social
Imagine scrolling through Instagram, and you come across an ad offering a discount on that exact T-shirt you wanted for your next hike. With 82% of the U.S. population on social media and even less digitally mature nations making the most of these social connections, social media is precisely where advertising works best. We spoke all about it in this blog about social advertising best practices.
Social media needs to be a substantial part of your holiday season media strategy because that’s where your customers and competitors are.
By investing in a robust social media presence, you generate more revenue through your omnichannel advertising strategy by:
- Increasing your brand awareness and creating a pool of potential customers in the form of followers
- Converting these followers into buyers by giving out exclusive deals and coupon codes on your social media profile
- Targeting ads for exact customer segments based on behavioral attributes and giving them the products, deals, and messaging they need in order to convert
Jewelry brand Zohreh V has built a solid social media presence and recently gained more than 22k followers. As a part of their omnichannel advertising strategy, they are now putting out early access deals to motivate their followers to avail the early bird offers.
You can leverage your social media presence to generate more revenue during the BFCM sale with hashtags, stories, promoted posts focused on BFCM offers, and create exclusive deals for your social media followers.
4. Try new channels like SMS to take every customer from intent to purchase
During the BFCM 2021 sale, more than 76% of customers abandoned their carts. If you want to avoid this in 2022, include new channels in your BFCM omnichannel advertising.
For example, SMS marketing is a great way to improve your cart abandonment numbers. SMS is a hyper-personalized channel with a near-perfect open rate.
The Perfect Jean uses a fun text message to bring back cart abandoners.
Improve customer retention beyond BFCM & Holiday season sale with multichannel attribution
Though BFCM sales should be your biggest priority right now, adopting marketing best practices should help with customer retention in the long run too. You can do this by adopting multichannel attribution in your advertising strategy.
Multichannel attribution helps you measure the impact of your ads across all digital and physical channels, including purchases made online and offline. This is essential during BFCM & holiday season because customers make shopping trips to both online and physical stores.
Why attribution is critical this holiday season
Building a robust attribution framework in your marketing strategy can be tricky yet necessary. Here are some reasons you must use multichannel attribution this holiday season:
- Measure every touchpoint to improve ROAS: Marketers focus their ad budget around BFCM sales, which means higher investments. If you want a high ROAS, then it is critical to keep track of every dollar spent by continuously analyzing the outcome of your marketing campaign.
- Optimize media spends with hard data: Multi-channel attribution allows you to understand what worked at a granular level. Within all your media channels, you can identify the ones that generate maximum conversions and modify and optimize your media spends with these insights.
- Use this holiday season campaign attribution insights for other campaigns: The insights obtained from holiday season and BFCM attribution, can also be utilized later to fine-tune your year-long marketing campaigns. Information such as, which platforms worked the best and which advertisements generated high ROI are all crucial when designing a long-term marketing strategy.
- Recognize and reward your most premium customers beyond single campaign: Multichannel attribution also helps you form novel strategies dedicated to retaining customer segments that generate the highest order values during BFCM and holiday season sale. As a long-term retention strategy, you can focus on delivering more personalized ads, marketing, product content, and exclusive offers to these VIP customers. A great example is a loyalty program launched during BFCM and holiday season to reward customers who spend beyond a specific threshold. A loyalty program for them would mean high order values not just during BFCM and holiday season but well beyond it.
Achieve hypergrowth with omnichannel advertising, multichannel attribution, and a tech stack made for customer acquisition and retention
With customers loosening their purse strings this BFCM weekend and further into holiday season, adopting marketing best practices is crucial for every brand. You can efficiently execute these best practices with the ReBid stack. It’s designed for omnichannel advertising, multichannel attribution, and ad hyper-personalization to keep your ROAS soaring.
Meet your customers where they are with Rebid Insights: Organize customer profiles so you can get a holistic view of your customers both at a segment level and individual level. Truly personalize your omnichannel advertising by meeting your customers where they are in the ways they need you to.
Take control of your ad spends with Rebid Buy: Plan and personalize your media spends on steroids across platforms, geographies, formats and devices. Optimize channel spendS repeatedly for higher outcomes with multichannel attribution.
Together, the Rebid suite build the perfect campaign for the holiday weekend, with marketing best practices front and center.
What’s stopping you from increasing ROAS by 40% or more?
Book a demo with ReBid today to watch your revenue, brand awareness and advertising ROI soar like never before.