With Black Friday and Cyber Monday only recently behind us, and with Christmas and New Years’ closing in soon, the deals are endless and consumer spending is amplified. The goal for companies this time of year is not just to generate one-off purchases, but rather to cultivate engaged and loyal customers who will keep buying a company’s products throughout the new year.
According to an Index Exchange blog post, we are trending in the direction of a multi-week long November advertising period, as opposed to a focus on a single day or even the Cyber Five set of days. Specifically, Index Exchange states, “Between 2019 and 2023, global retail media spend rose by 17% in the two weeks leading up to Black Friday, with its share across all spend increasing from 24% to 28%. Meanwhile, the share of retail media spend during Black Friday and Cyber Monday dropped 13% in 2023 compared to 2019. Further, “[Index Exchange’s] platform data shows CPMs steadily rise in mid-November, peaking the day after Black Friday. In 2023, average CPMs during Cyber Five (the period between Thanksgiving and Cyber Monday) increased by 25% compared to the first week of November. The rise in CPMs is a clear signal that competition for ad slots intensifies earlier and stays strong throughout the holiday weekend.” CPM refers to the total cost for 1,000 impressions, and the point is that ad spending is occurring over a longer period of time.
Index Exchange’s blog post has the following guidance for companies: “The start of holiday shopping season is no longer just about Black Friday and Cyber Monday. It’s a marathon that starts well before and extends through the holiday weekend. To win over shoppers and maximize sales for your brand, think holistically about your campaigns. You’ll want to spread your budget and optimize spend across this extended window to reach early shoppers, maintain momentum, and compete effectively when CPMs spike.”
There are numerous individuals and companies angling to provide marketing insights and help with advertising campaigns this time of year. As one example, MDDC Press had the following blog post with tips for Black Friday & Cyber Monday marketing:
- Start Building Anticipation Early
- Optimize Your Website for High Traffic
- Leverage Email Marketing Wisely
- Harness the Power of Social Media
- Create a Sense of Urgency
- Offer Exclusive Deals
- Ensure Mobile Compatibility
- Provide Stellar Customer Service
- Utilize Retargeting Ads
- Analyze and Adapt in Real-Time
- Collaborate with Influencers
- Don’t Overlook SEO
- Offer Free Shipping and Easy Returns
- Personalize the Shopping Experience
- Prepare for Post-Sale Engagement
All of these tips can be replicated for purposes of Christmas and New Years’ holiday marketing campaigns, and are just good advertising tips generally. But again, the goal is creating a loyal and engaged customer base that will shop throughout the year (or at minimum will shop again next holiday season!). Happy holidays and happy shopping everyone.