With Black Friday & Cyber Monday right around the corner, it’s that time of year again where digital marketing ninjas and self-proclaimed advertising gurus abandon the concept of sleep to focus on crafting a series of promotional campaigns. All jokes aside, the holiday season that kicks off with American Thanksgiving provides online retailers with an opportunity to recoup a year’s worth of operations costs by generating a meaningful amount of sales. The “make it or break it” season for online retailers means you need to be creative with marketing campaigns as competition ramps up significantly. While it may seem overwhelming and stressful to hitch your success to a volatile shopping period, you don’t need to rely on a sacred scroll or dark magic compendium to execute efficient campaigns. With shoppers actively searching for the best deals, there’s a massive opportunity for retailers of all sizes to capture a share of the money floating around online. Here are some holiday marketing tips ecommerce professionals of all types, ranging from small store owners to the seasoned independent seller pumping out thousands of sales on Amazon.
1) Fund Google’s next robotics venture by splurging on advertising
Whether your advertising budget is $1,500 per month or $50,000, odds are you’ll see a substantial lift in sales by ramping up advertising spend during the holiday season. Unfortunately, if you haven’t ventured into the lucrative (and stressful) world of digital advertising yet, there’s still a chance to capture a share of the market with strategic campaigns.
Google Shopping campaigns are typically the best campaigns to bet on this time of year as online shoppers are on the hunt for the best deals. Consistently checking competitor pricing is vital during this period because product ads with the lowest pricing tend to get the best click-through rates (CTR). Subvert your rivals’ expectations by matching their prices for competitive products and steal traffic away from their website. Scaling campaigns can also be a breeze if your campaigns are structured properly, so make sure to segment your product groups as much as possible. You can then maximize the return on advertising spend (ROAS) for your bestsellers and highest margin products. In addition to regular search and shopping campaigns, utilize dynamic product retargeting to broaden your reach and capture additional traffic. (more…)