Despite back-to-back years of uncertainty and rising inflation, holiday retail sales are projected to increase between 4% and 6% this year – that’s up to $1.47 trillion in sales from November to January. With ecommerce spending forecasted to rake in up to $264 billion, Cyber Monday won’t be the only day shoppers search for online deals. But how do you attract, convert, and keep customers? We have five easy tips to refine your strategies.
Leverage Historical Data
Review last year’s numbers and identify the most successful campaigns, effective channels, and profitable holidays. There are always lessons to be learned in marketing, and data is one of the most powerful tools in the refining process.
Reduce Cart Abandonment
According to a Baymart Institute report, nearly 70% of online shoppers abandon their carts. Ensuring those conversions happen is critical when online shopping is at its peak. Utilizing Google Analytics is a simple way to identify drop-off points by looking at top Exit Pages.
Retargeting ads give shoppers a friendly nudge to finish their purchase journey, too. If shipping costs are a deterrent, a retargeting ad could include a free or discounted shipping code. Tailored content makes consumers 40% more likely to engage and purchase. Another classic tactic: a cart abandonment email series. This can include product recommendations, add-ons, accessories, and more. A discount code is a reliable way to make shoppers reconsider abandoning their carts.
Stay Active on Social Media
Makes sure your strategy is effective, catchy, and productive. Try creating holiday-related content and promoting it across all channels, run giveaways to increase traffic and followers, collaborate with influencers, and stand out from the crowd with hashtag campaigns.
Pro tip: minimize the stress of holiday content by creating an outlined strategy for each day.
Update Your SEO Strategy
Investigate how effective your SEO strategy currently is, and optimize with specific holiday keywords. As you create seasonal ads, tweak messaging to infuse your products with holiday spirit. This is a good time to consider increasing your budget, too.
Harness the Power of Email
Last but certainly not least, email is perfect for promoting holiday sales! According to a 2020 Forbes study, consumers were significantly more inclined to buy when a flash sale was offered, and “buy now” buttons are a hit. Email marketing also offers opportunities for personalization – something customers really connect with. In fact, personalized emails result in an 8x improvement in click-through rates and 6x higher transaction rates. Remember to promote Black Friday and Cyber Monday sales early to be top-of-mind when holiday shopping officially kicks off, and include subject lines shoppers can’t scroll past.
Get a headstart on the holidays and implement changes as soon as possible to capture attention, drive conversions, and close out the year with record profits.