No Time for Black Friday and Cyber Monday for Marketers
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The world's shipping and supply chain are in shambles. COVID, rising demand for commodities from Asian exporting nations like China and South Korea, recent weather-related delays, and a range of shortages, from cargo ships and containers to warehouse staff, have all contributed to shipping and supply problems.
Because of the bottlenecked supply chain and delivery delays, there are fewer electronics, toys, and gadgets in store for gift-giving, and customers used to two-day shipping may have to wait much longer.
What is the consumer's bottom line? Now is the time to start your Christmas shopping.
What does this signify in terms of marketing? Now is the time to get a jump start on your Christmas messaging. All of these elements support Black Friday, Cyber Monday, and other October holiday shopping activities.
Target Holiday Shoppers Using Consumer Data When compared to other times of the year, early consumer buying behavior differs around the holidays. Some customers are looking for the greatest discounts, which may include partaking in traditional holiday shopping activities such as Black Friday or Cyber Monday. Others put off buying anything till the last minute in the hopes of getting a better deal.
Brands will need to use data-driven marketing methods to engage buyers early in order to account for shipment delays. Because consumers may have difficulty locating the things on their present lists, marketers should concentrate on attracting customers to shops and online right now and managing expectations appropriately.
While this may seem to be a simple task, businesses must be smart in their interactions with customers or risk missing the chance entirely. Consumers nowadays are sophisticated, and they want firms to know their preferences and provide them personalized, relevant suggestions. Brands that market unavailable or delayed items, for example, will inevitably alienate customers.
To provide communications with this degree of knowledge, brands will require a robust foundation of data and connections throughout their supply chain. To understand who their consumers are and what will push them to buy, merchants will need to concentrate on first-party data gathering and third-party augmentation.
For example, if a business knows where a customer is situated, it may target them with specific information like local inventories or precise delivery estimates.
In-market behavioral data, also known as intent data, is one of the most useful pieces of data that marketers sometimes ignore. Intent data is being used by smart businesses to provide prospects and consumers with a more tailored experience based on their previous activity.
What physical shops did these customers visit recently? What are they looking for on the internet?
Are they talking about particular brands, product categories, or specific goods on social media? Are they a procrastinator or an early shopper throughout the Christmas season?
Data has advanced to the point that companies may contact customers based on their previous behavior, such as Black Friday shopper categories or early and last-minute Holiday shoppers, in addition to their current activity.
Send personalized messaging using omnichannel technology
Consumers spent online more than ever last year at COVID's peak. Retailers should expect to see customers buying both online and in shops this Christmas season as our economy settles into a new normal and consumers seek out more in-person experiences, with just over half (62 percent) of American consumers reporting they intend to utilize both channels.
Consumers will utilize several touchpoints along the route to study items and make purchasing choices as they progress through the buying experience. Instead of getting direct mail, 35 percent of customers prefer to engage with companies via email. Social media is also a popular method for customers to discover about new goods and businesses, with almost a quarter (24%) preferring it.
Whatever channel mix they choose, marketers will need an integrated picture of the customer accessible across all platforms in order to consistently develop customised experiences for various sorts of customers, as well as data like product availability. Having the correct marketing automation platform in place helps guarantee that messages are consistent across customer groups and across channels, allowing you to push items to customers in time for the holidays.
In comparison to 2020, the Christmas season in 2021 will be quite different. The pressure is on to start Christmas shopping early – and to develop marketing techniques that reach customers where they are.
It's past time to start promoting Black Friday and Cyber Monday in October rather than November. It's simpler to start the Christmas marketing campaign early than it is to postpone the holidays due to gift delays.