Black Friday, Cyber Monday and the weekend days in between collectively represent one of the biggest shopping events of the year. Many businesses rely on the boost in consumer spending to bring in a large chunk of their holiday profits, but this short-lived explosion of commerce often gives way to a lull when the big sales are over.
Retargeting helps you capture more revenue after Black Friday and Cyber Monday have passed, and it can continue to provide a reliable source of profits throughout the year.
How Does Retargeting Work?
When customers visit your site, you have the chance to track the pages they visit, the products they look at and the items they put in their carts. Cookies store this information for use in retargeting campaigns, displaying relevant marketing messages in ads on other sites or in your customers’ social media feeds. In effect, your brand follows the customer as they browse the web, appearing with highly personalized ads designed to entice them to return to your site and make a purchase.
The major benefit of retargeting, especially after the Black Friday and Cyber Monday period, is the increased number of chances to generate lucrative conversions. Because this type of advertising is based on what members of your target audience have already shopped for, it has the potential to be more effective than traditional marketing campaigns with broader reach and less personalized messages.
The Big Black Friday Rush
According to a survey by RetailMeNot, spending over the weekend beginning with Black Friday will be 47 percent higher in 2017, with each customer spending around $743. Approximately 70 percent of consumers were planning to shop over the weekend, with 56 percent waiting for the deals associated with Cyber Monday. In 2016, total spending over the Thanksgiving weekend was $9.36 billion, $3.39 billion of which occurred on Cyber Monday.
With so many people flooding websites and whipping out their credit cards to do more shopping than at any other time of year, business owners have two important considerations:
- Your payment gateway must be ready to handle the influx of customers
- Your customer relationship management (CRM) platform needs to be configured to capture as much behavioral data as possible
Unless you have the best merchant credit card processing option available, you run the risk of losing sales to malfunctions as consumer traffic surges, and thus may have difficulty running a successful retargeting campaign.
Even with a seamless shopping experience, only 2 percent of customers convert on their first visit to a website. The information your CRM platform gathers over the Black Friday weekend can help you recapture the attention of the other 98 percent with a post-holiday retargeting campaign.
Retargeting Tuesday, the day after Cyber Monday, is your first chance to take advantage of the warm leads generated during the shopping rush. These customers are still primed to make purchases, but they need a nudge in the right direction. Starting to retarget the moment Cyber Monday sales are over ensures shoppers don’t forget about the products in which they showed interest over the weekend.
Spend Less, Sell More
Unlike creating fresh campaigns with the goal of enticing new customers to come and have a look at products they’ve never seen, retargeting grabs the attention of people who are already familiar in some way with what your brand has to offer.
You can apply data from Black Friday and Cyber Monday to set up personalized campaigns aimed at these audience segments using the automation tools provided by your CRM. The combination of data analysis and automation takes much of the effort out of designing marketing campaigns by allowing you to deploy relevant ads across the internet based on the specific behaviors of your customers.
Beyond the Holiday Shopping Season
Don’t stop your campaigns after Retargeting Tuesday just because the first wave of the holiday shopping rush is done. Abandoning your efforts too quickly means missing out on the chance to generate sales from 26 percent of customers who abandoned their carts while shopping over the weekend and those who visited too many sites to remember all the products they looked at or where they found good sales.
Think about just how many online merchants a single Black Friday or Cyber Monday shopper looks at over the crazy four-day period of sales. Some, such as giants like Amazon, are memorable, but others may be sites people only visit a few times during the rest of the year. Your CRM still has the data from these occasional visitors, and it can be used to reach out through retargeting for weeks or months after they pop by to see what deals you have to offer.
The personalized nature of retargeting means you can create campaigns to target specific audience segments, including those who respond to Black Friday and Cyber Monday ads. There’s a good chance many will still be interested in the products they browsed even after the big sales have ended.
A Boost in Customer Loyalty
One-time shoppers or customers who only come to your site when you’re offering specific deals are the perfect audience members to focus on when retargeting. Exposure to retargeting ads has been shown to increase branded web searches by up to 1046 percent, demonstrating the power of this type of marketing to increase brand visibility and awareness.
What does this mean for your retargeting campaigns after Black Friday and Cyber Monday? Sometimes all a customer needs to be drawn back to your site is a reminder of the products they liked and a little extra exposure to your brand message. Over time, this continued contact with brands establishes feelings of loyalty and encourages consumers to seek out your business over the competition whether or not deep discounts are being offered.
Retargeting is a low-cost marketing tactic you can use all year to capitalize on consumer behaviors, including data collected during Black Friday and Cyber Monday. Implement a retargeting program in the days and weeks following the big holiday rush, and you should see customers returning to make purchases they previously abandoned. Brand awareness created by retargeting will bring these same customers back and turn one-time shoppers into repeat customers on whom you can rely to support your business through the New Year and beyond.