Which customers offer the biggest opportunity for retailers on Black Friday?
Throughout the year, most online retailers will shift focus in their ad campaigns and marketing activities. There’s a near-constant attempt to engage existing users and turn them into loyal customers. These repeat spenders are the lifeblood of any organization, and the goal of most ecommerce marketing is to increase the value and frequency of orders from this group.
Black Friday is a time to reward these users with special offers. However, it is also a time when your business is most likely to lose loyal customers, as people are more open to trying other brands during the sales season. This is especially true in difficult times, as six in ten people say that they would stop spending with their favorite brands if money were tight.
So, in the run-up to Black Friday, your online ads should be telling existing users that you will have the best deals in town. If you can get this message across, it will go a long way to creating a successful Q4 sales season.
This willingness to explore other options also presents a huge opportunity for your brand. It is a chance to win business from your competitors. Did you know that 4.5 times more new users engage with brands during the Black November promotional season? What’s more, 3.7 times more lapsed users (who have not visited websites in the 30 days prior to retargeting campaign launches) place orders during November promos.
What clever campaign tactics can drive up revenue during sales season?
Once you’ve developed your general Black Friday marketing strategy—deciding on the right mix of retargeting ads for new, existing, and lapsed users—you need to create specific ad campaigns that will speak to your chosen groups.
There are some broad types of campaigns that most businesses turn to, such as branding ads for attracting new customers and keeping top-of-mind with existing users, or retargeting ads to drive up sales frequency and value from loyal customers. However, the best way to win during Black Friday and the Q4 sales season is to get more specific about the type of ad campaigns you run. How does each activity fit in with your chosen sales strategy?
We’ve shared six specific retargeting scenarios that can drive up revenue during the holiday shopping season. Some of these campaigns require more time to set up and run than others, so they will only work if you are planning in advance of Black Friday. However, they are all relatively easy to implement with the right ad partner and can bring strong results.
Reacquisition campaign: Target users who have been inactive for a few weeks and show them products and services they might find interesting.
Reinstall campaign: Target customers who uninstalled your app and give them reasons to rejoin your community.
Teaser campaign: Generate interest and excitement about forthcoming promotions or new products.
Low valuation users campaign: Turn window shoppers into actual customers.
Omnichannel campaign: Uses data from your CRM to target customers who prefer to buy offline with customized messaging and special offers.
Featured category campaign: Bring more orders and revenue from the chosen categories.
Is it worth an additional retargeting budget to chase Black Friday customers?
On the surface, Black Friday seems like the ultimate sales opportunity, but it does not come without risk to business, and the cost of choosing the wrong sales strategy can be significant.
There is no magic formula for winning during the Q4 sales without investment. You have to accept that competitors will be more active and that inventory costs increase throughout November. Internal data from RTB House shows that the average cost of a retargeting ad impression can rise 66% during the month.
So, is it worth investing an extra budget in retargeting as part of your Black Friday marketing strategy? The simple answer is “yes,” but increased customer activity is not enough for people to buy at your store; you actually need to have great promo offers that are more compelling than those of your competitors. If you have the right offers and retargeting solutions, you will see the benefit. In fact, our data showed that stores can expect 56% higher conversion rates in the last month of November (compared to the first week of the month) as a result of RTB House ad campaigns.
A checklist for successful retargeting campaigns during promo periods
Retargeting campaigns are proven to work on Black Friday and throughout the sales season. Here is your simple checklist of things to consider when creating promo campaigns.
Utilize ads that really hit the mark: Target customers with specific products or categories that will be of real interest to them. Use more powerful retargeting technology to guarantee fewer wasted ad impressions.
Plan ahead…but be flexible: Create a solid plan, but choose ad partners that can help you adapt campaigns on the fly. React to emerging customer trends and ramp up revenue.
Display amazing creatives: Create eye-catching, dynamic banners that stand out from the competition, and curate offers from your product feed in real-time.
Serve customers however they prefer to buy: Reach customers who research online but purchase in-store, as well as those who are digital-only buyers.
Reach new and existing customers: Promo periods are an opportunity to expand your base. Create tailored sub-campaigns for active, new, and lapsed users.
Set your KPIs and get started: Choose different success metrics for each sub-campaign: from completed views to final conversions.
More information and inspiration for the Q4 sales season
Want to know even more about Black Friday marketing strategies and how to prepare winning retargeting campaigns? Our new report contains over 40 pages of expert insight, and much more:
An overview of evolving customer behaviors.
An explanation of why sales opportunities now last the full last quarter of the year.
Tactics for building anticipation for major promotions.
Tips for using data to create targeted promotions and better segmentation.
An insightful guide on different aspects of effective retargeting campaigns.
Tips and tricks for choosing and executing your promo season strategy.
Download your copy here.
