Holiday Marketing Prep—Are all Customers Created Equal?
Industry analysts are predicting record sales this holiday season—in fact, they expect it to be the biggest Thanksgiving, Black Friday and Cyber Monday ever. The big media buys are nicely wrapped up with a bow. Now, some marketers have already bombarded their email lists with incessant email campaigns, some are focused on hot marketing trends like social media and content marketing, and some are depending on tried-and-true deep discounts and free shipping deals, but all of them want to reel in online shoppers and top the sales charts.
So, how can marketers drive those record sales to their online stores this holiday season to make sure their competitors aren't the ones reveling in the spending surge? And, more importantly, how can they best leverage the full value of shoppers' purchase influence to drive additional revenue during this holiday shopping season (the shortest since 2002!) and beyond?
Simply said, people buy what their friends buy. That makes word-of-mouth (WOM) more important than ever during the holidays. Consumers aren't buying just to buy—they are making emotional purchases. Some people will save all year to make that special purchase, while others will hunt far and wide to find the perfect gifts for loved ones. And once they do, they will talk about it. We see up to 50 percent more tractable purchase influence during the holiday buying season—purchase influence is about WOM and during the holidays people buy more and talk more about what they buy.
Don't Abuse Your Database, Look for the Halo Effect
Let's think about the marketer who has already sent out a dozen holiday marketing messages—will that email really drive record-breaking sales or has the marketer overused its list to the point that even the most loyal consumer doesn't give the email a second glance?
Not all customers are created equal. Why send 100,000 emails and risk burning out your list when you could send 5,000 targeted emails and generate higher revenue returns?