As this holiday season is wrapping up, many business owners are wondering if they’ve missed sales or brand awareness to start January strong. According to Robby Switzer and Daniel Stafford, two fishermen-turned-founders of Shopanova, missing the boat on Black Friday doesn’t mean a year of difficult sales.
“One big misconception people have in regards to the holiday season is that if they missed out on having big revenue days over Black Friday or Cyber Monday, they missed their chance to take advantage of the holiday shoppers,” explained Switzer. “In reality, we see a lot of purchasing happening both before Black Friday and Cyber Monday and clear into the end of January.”
In fact, industry data found the same. According to the New York Times, “Customers spent about $8.9 billion online on Black Friday, slightly less than in 2020, and $5.1 billion on Thanksgiving, which was on par with last year, according to Adobe Analytics data, which covers more than one trillion visits to U.S. retail sites.”
Their data also found that “consumers spent far more between Nov. 1 and Nov. 28,” signaling a difference from prior years that customers are preparing earlier and value early online promotions.
With supply chains struggling to keep up with demand, analysts have cited lower Cyber Monday sales, offering smaller and more agile retailers a new way to compete with household names.
“While supply-chain issues are plaguing many retailers, we’ve been reminding our clients about the importance of the intangible—think gift cards and other promotions,” explained Stafford. “Most start-ups don’t have the capital funds to compete with big-box retailers, but with challenges this holiday season, it’s important to remember to pivot.”
How can business owners harness the power of the season for awareness and online sales?
“With a strong advertising plan, we’ve seen customers use the power of online shopping to get a return on investment 100 times what they’ve put in,” explained Switzer. “To us, it’s all about targeting correctly and understanding that preparation and timing are what’s most important.”
“And it’s about knowing that it’s okay to take a risk! If you’re wondering if now is the right time to advertise—it is,” Stafford added.
Here are three reminders about holiday shopping that Shopanova believes are vital to a business owner’s success:
The holiday rush doesn’t end on Cyber Monday.
According to eBay Advertising’s director Phuong Nguyen, there are many reasons why consumers are spending their money into January, from combatting the winter blues, to purchasing for their upcoming vacation. Don’t underestimate the value of marketing efforts after the holiday season is finished.
Behold, the power of hybrid shopping where customers research online and buy in-store, or vice versa.
Switzer and Stafford believe hybrid shopping can be a huge benefit, offering customers proof points to buy a product. Even better? “If an ad-set is correctly placed, it can capture hybrid buyers who thought they might buy a product elsewhere,” Stafford noted.
It’s all about omnichannel marketing, or as fishermen say, “casting a wide and smart net.”
Business owners who develop strategic email campaigns that flow into strategically-retargeted advertising will not only remind shoppers that they have the goods, but they’ll do far better than those who rely on one channel—like social media,” explained Switzer.
Noting that it’s difficult for business owners to change a marketing strategy to suit timing, the duo mentioned that those powerful ideas could start quite small. “Adding retargeting to an already effective advertising spend is a great addition,” said Stafford. “Sometimes, it’s not about chasing sparkly objects, but adding piece-by-piece to your marketing strategy until it all flows together as one, well-oiled machine.”
With the holidays approaching soon, the team at Shopaanova believes it’s the perfect time to throw any myths about online shopping out the window and see what happens when marketing is integrated into each facet of the business.
“We’ve seen tremendous growth and numbers from our clients who were afraid to take the risk,” Stafford explained. “The time isn’t even now to make a change—it was yesterday.”
As business owners seek new ways to gain customers and develop relationships, Switzer and Stafford believe it all comes down to being willing to try things that may not work until a merchant finds their perfect balance.
“A silent Black Friday doesn’t mean it’ll be a joyless New Year,” stated Stafford. “It’s all about preparing today to win tomorrow.”
Shopanova is a modern growth media buying agency for eCommerce shops. They have been able to grow their clients’ monthly revenues from 5-figures all the way to 7-figures and beyond. Shopanova has been featured in Yahoo! Finance, Bloomberg Business, NBC, and more. For more information on how to build a generational online brand and scale your business to millions, please visit https://shopanova.com
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