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We know the economy is shrinking, unemployment is rising, and the future of retailing will remain digital during this seemingly endless pandemic. In addition, we have just started the Christmas season, which accounts for 40 percent of the brands' annual sales.
As a brand management expert with experience at L & # 39; Oréal and Nike and as the founder of a boutique agency for digital marketing, I know that consumer goods brands have been planning their vacation strategy for months – photographing new sets of values, fine-tuning promotions, honing Hero's product ranges and renegotiating of sales targets. For them, the holiday season starts now and gradually increases to Cyber Week. By the time Black Friday comes, brand marketers are already planning their spring launches.
But this holiday season won't go as usual.
Let's say most brands continue to promote their Black Friday deals. What if consumers don't answer? To succeed in today's competitive and highly promotional landscape, it is more important than ever for companies to optimize their online presence to generate additional revenue.
Check out my three tips on how to stand out from the competition this holiday season, whether you're a global consumer goods brand, sole proprietor, or small business owner.
Related: 5 Ways To Build Killer Relationships With Customers
1. Personalize your product recommendations further
Given that there may be a lot of excess inventory burning on your income statement, keep discounting the product you need to move, but also personalize your product recommendation engine. Take the “You May Also” website functionality to the next level by linking it to email and paid media.
Dive deeper into your algorithms. Are you targeting browsers in the last seven or 30 days? How is your messaging different for past buyers and abandoned carts?
With my experience building Converse's first custom global Customer Relationship Management (CRM) database, it's important to improve your customers' multi-channel digital experience. I recommend putting together a one-pager that lists your algorithms, recommended products, frequency caps, and messages by channel.
For example, if someone has placed an item in their shopping cart, you gently remind them two to three hours later with a Facebook ad. Did you forget something If they didn't click the ad, you can send a branded email a day later. If they don't open your email as a last try, send them an exclusive discount offer via email, Facebook ads, and as a pop-up reminder when they return to your website.
Using discounting as a last resort would help your income statement. Your consumer may be a loyalist (two or more past purchases) and ready to pay full price if you just nudge them gently. Don't send them a promo code unless you see they aren't buying. Your finance team will thank you.
2. Become a professional in Search Engine Optimization (SEO)
Instead of starting with the products you need to promote and then developing your marketing strategy, let Google do the work for you first. Check out Google's Keyword Planner, Google Trends, or Google Search Console Tools to see how consumers search for your brand online. Let the data guide your merchandising and messaging strategy.
Are customers looking for shirts rather than pants? If so, try creating a multi-product gridwall that will highlight the new t-shirts on your website. If you need to sell these pants faster than your inventory moves, create a special offer to increase your average order value (i.e. get a free $ 50 gift card if you buy more than $ 250 on your next one Output look). Then send them an email to promote them, and don't forget to update your metatags to make sure that Google is bringing your new landing page to potential buyers.
Related Topics: How To Move Your Business Online Quickly
3. Use your brand's platform to help those in need
Moving all of your excess inventory through discounts, free gift cards, or sweepstakes can be difficult. I worked at Laura Mercier (part of Shiseido) before Covid. As part of a paid media partnership that I set up, we “gave” new products to select influencers and invited them to the store for a free update in return for sponsoring blog and social posts. It helped us build new relationships, generate content, and search inventory.
During the pandemic, influencers may be more questionable as we all live less glamorous lives that are mostly quarantined these days. Another useful strategy is to partner with a nonprofit organization where you can "give away" your product. For example, try working with an organization running a socially distant grocery campaign and giving away free bottles of shampoo and conditioner at a branded stall. Or toss some mini mascara samples and a free branded face mask in the gift bag to support an online fundraiser. Not only will this potentially remove hundreds of units from your warehouse, but it has the added benefit of helping those in need during this challenging time.
While the retail landscape is particularly uncertain right now, I am confident that you can optimize your online presence and enhance the customer experience this unprecedented holiday season by following my three tips to help increase your brand's sales.