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BizReport : Advertising : November 05, 2020

Top 4 tips to a winning holiday strategy in 2020

2020 has not been easy for merchants or brands in any corner of the world, but that doesn't mean the upcoming holiday season must be a bust. There are strategies that can be taken that can help brands - and their customers - have a holiday season that sets 2021 up for success.

by Kristina Knight

First, embrace social

"Instagram Shop is great news for eCommerce businesses of all sizes. More and more consumers are actually using Instagram, not Google, to find more information about brands they like or are curious about. For eCommerce brands, our favorite Instagram trend has been the rise of Instagram Shopping. From the "swipe up" on Stories to shoppable product tags in captions, Instagram has become a robust marketing and sales channel for eCommerce brands. Users will eventually have a complete shopping experience on Instagram," said Mark Kapczynski, CMO, Gooten. "Videos are a vital marketing component for every eCommerce brand, especially considering 73% of customers are more inclined to purchase a product after watching an explainer video about it (Animoto study). Instagram Stories and Reels are far more engaging than static images or blog content. Utilize Instagram Live to authentically connect with your audiences and engage with them in real-time, to make it one of the most interactive video platforms."

Second, balance promotion and authenticity

"This is a tricky one for a lot of brands and marketers, but it really should not be.  If you and your brand are genuine from the start, then there is little to do to find the balance.  It ties back to product market fit for the business.  Once you have product market fit, you can align your marketing strategy to drive awareness to a highly targeted audience that is well poised to receive your message.  That makes it easy to offer a promotion as an incentive to make a buying decision in a timely manner.  Merely using promotions to lure customers in at the top of the funnel is a tough value prop as you are now competing with yourself on price.  I try to focus my marketing campaigns to lean to being authentic and highlight a pain point that we solve for.  If I have done my work up front and analyzed my data, I should have a clear picture of who is my target customer and what will resonate with them.  Once I can fill the top of the funnel this way - it then means working with the sales team to incentive the customer to make a final buying decision," said Kapczynski.

Third, market to multiples

"The key is knowing the different audiences first.  Many marketers and brands want "everyone" to be their customer - but the harsh reality is otherwise.  When marketing to different audiences, make sure you clearly define the different audiences - what makes each unique?  And what will they find unique about your business and products," said Kapczynski. "Then have a common brand/messaging framework to draw on to help guide you in tying the different messages by audience together, so that you are not creating disparate campaigns that do not tie back to your brand.  A messaging framework overall will help you.  This way you can define in advance how you will speak to your diff audiences and map the nuance differences between each - such as in word choice, brand voice, tone, and descriptive phrases.  This can definitely be done - but you want to make sure everything ties back to the commonality in your brand."

Fourth, integrate marketing and sales strategies

"As a marketer, my job is ... to deliver the highest quality MQLs - marketing qualified leads to the sales team, to then follow up and close the leads as customers.  My goal is to also try to achieve a 1:1 ratio of an MQL to an SQL.  if I am doing that - home run!  The other key is to drive the cost down on the MQLs so that we are as efficient as possible with our marketing budgets.  Part of this is a recognition that you do not always need just tons of leads - but rather you want the most qualified leads as possible, so that the sales team can convert them to paying customers.  The other piece to this is - how as a marketer do you then work with sales to continue to enhance the experience of an existing customer with your brand - so that they will stay a customer and even tell their peers about you.  I like building loyalty programs to keep customers engaged and show the value back for continued support of the business.  And all of this is done via data.  It is critical for sales and marketing to work closely in the CRM or even newer is the CDP (customer data platform) to seamlessly share data about leads and customer interactions with your business," said Kapczynski.

Tags: 2020 holiday strategy, ecommerce, Gooten, holiday advertising strategy, holiday ecommerce, social marketing

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