Connect with us

MARKETING

7 Strategies for Memorial Day Sales

Published

on

Memorial Day means many things to many people. At its heart, it’s a day to commemorate the brave American soldiers who died fighting for this country. For many, the Memorial Day weekend also marks the start of summer and a chance to grab a deal in the annual holiday shopping event.

The shopping event is no longer the preserve of brick-and-mortar stores. Research by Namogoo shows e-commerce fashion sales soared over Memorial Day 2020, up 380 percent compared to the year before. Conversions increased by 335 percent, too.

These kinds of figures don’t happen by magic, however. Marketing plays a crucial role in your store’s success.

That’s why I’m going to show seven strategies to send your Memorial Day sales soaring.

7 Tips for E-Commerce Memorial Day Sales

A record-breaking Memorial Day doesn’t happen by luck. By using one or several of the following tips, you give your store a better chance of getting noticed, winning new customers, and having a great weekend.

1. Run a Paid Ad Campaign Showcasing Your Sales

Succeeding over the Memorial Day weekend is all about standing out. Big brands may do this with television commercials or billboards. Smaller brands often stick to social media. I recommend combining the two via a paid ad campaign on social media.

While few brands can afford to go all out on a TV ad, many e-commerce brands can afford a short paid ad campaign, especially if it’s optimized for conversions.

There are two crucial factors you need to get right: The channel you advertise on and the creative you use.

I recommend sticking to Facebook or Google for your paid ads. These platforms offer the greatest reach and the best targeting tools to help make sure your paid media budget goes the furthest.

When it comes to ad creative, it’s all about standing out. Using red, white, and blue, and an American flag are a given. But also consider including summer-related imagery that so many consumers relate to the holiday.

It’s essential to remember that, unlike Independence Day, this is a day of remembrance. Keep your tone respectful of the fallen and their loved ones, even if you’re focusing on summer fun. This ad from My Mind’s Eye does a great job of finding this balance: It’s eye-catching, positive, and still reminds viewers of the reason for the holiday.

Tips for E-Commerce Memorial Day Sales - Run a Paid Ad Campaign Showcasing Your Sales

Use Memorial Day hashtags on social media platforms, but be careful about the kind of content you post. Some people may be using these hashtags to search for information around the holiday itself and may be offended by overly promotional material.

2. Tease Your Sales on Social Media Without Revealing What They Are Until Memorial Day

Teasing your Memorial Day sales on social media is a fantastic way to drum up anticipation and build a potential customer base well before the big day. By running it on social channels, you have the chance to pick up thousands of new users who have never shopped with you before.

Get your social media calendar in place well ahead of the holiday. The more time you have to post, the more anticipation you can build. This is as true for your email marketing campaign as it is for your social media posts.

For example, The Pampered Iggy—an artist who makes outfits for Italian Greyhounds—teases their upcoming Memorial Day sales in this simple but effective image:

Memorial Day Sales - Tease Your Sales on Social Media

3. Run a Flash Sale

Unlike the winter holiday shopping season, Memorial Day sales last for a couple of days at most. This makes it ripe for flash sales.

These sales typically come with substantial discounts and are all about encouraging consumers to make impulse purchases. They’re also a great way to grab some press attention and make sure customers visit your store over your competitors.

Focusing on your new summer products is the best strategy here. Many consumers wait until Memorial Day weekend to make their spring and summer purchases, so they’re on the lookout for this season’s items. Make the discounts too good to avoid.

Getting the word out about your sales will be just as important. Consider using a paid ad campaign as I described above to promote your sales, but don’t forget about your email list or social media followers.

4. Sell Winter Items at a Deep Discount

Everyone loves a discount, especially on Memorial Day. Price drops between 20 percent and 90 percent are common. There’s no better time to get rid of leftover winter items while attracting new customers than to sell them cheap.

These sales can run alongside your standard Memorial Day sales events, or they can stand on their own. It all depends on what products you stock for summer. Brands that tend to do well during the summer months may prefer to emphasize their new line of products. On the other hand, winter sports stores may just want to make their steep discounts the center of attention.

5. Honor Veterans and Their Families

Memorial Day is a day of remembrance for fallen soldiers. This is why it’s essential to stay positive but not too celebratory about the unofficial start of summer.

Richard Levick, chairman and CEO of LEVICK, says:

Remembrance and relaxation both play important roles in our lives, but they should occupy separate spheres…When brands forget to respect that separation, and when executives who don’t understand the true meaning of Memorial Day are in control of a company’s marketing and social media outreach, insensitive—even offensive—things happen.

In particular, he recommends against potentially exploitative imagery of military funeral services, families in mourning, and so forth. Many companies juxtapose these images with messages of “FLASH SALE!” and “Happy Memorial Day!” which can ruffle feathers.

Not all veterans and families want to hear “thank you for your service” on Memorial Day and want the day focused on those who have been lost. That said, honoring veterans, active duty military, and their families can be done tastefully and well, without drawing focus away from the meaning of the day—chances are many of them have lost someone in the line of duty.

There are many ways you can honor veterans and active service people. One option is to give them early or preferential access to your sale. Another is to offer them discounts or special offers. You could even give away small items as gifts.

But a particularly special thing you can do to show your understanding and gratitude? Donate a portion of your proceeds from your Memorial Day sale to a charity supporting the families of fallen soldiers, like the Tragedy Assistance Program for Survivors (TAPS) or the Children of Fallen Patriots Foundation. Mention this plan in your Memorial Day marketing materials, but keep the focus on those who need the help, not how awesome you are for doing this.

6. Contact Websites Running Sales Roundups to Get Your Store Featured

The Memorial Day weekend is a fantastic source of content for new publications, many of which include roundups of all the best sales. It’s not an accident when brands get included in these roundups. More often than not, it’s the result of a lot of outreach work.

get your store featured in memorial day sales roundups

Start by finding publications in your industry that have produced Memorial Day roundups in the past. If they did a roundup last year, there’s a good chance it will be on the editorial calendar this year.

You can also target bigger, broader publications that aren’t necessarily tied to one industry. Here are just a few websites that have created Memorial Day sales roundups in the past:

Next, draft an email to send to each of these publications. Personalize it a bit, but you can keep the bulk of it the same. Highlight what you have on sale over the Memorial Day weekend, the kind of discounts customers should expect, and why your deal is better than your competitors.

7. Set Up a Virtual Event With a Live Sale Segment

You don’t have to have a brick-and-mortar store to run a live sales event.

There are even some pretty significant benefits stores can realize by running virtual sales events. They are way more accessible for one. You’ll be able to accommodate significantly more attendees (which means more customers), and they’ll be able to tune in from anywhere in the world, too.

It will also be much cheaper to run a virtual sales event than an in-person one. Webinar software and a high-quality camera will cost a few hundred bucks at the most. That’s pretty much all you need. It will be much cheaper for customers who don’t have to travel to your store, too, meaning more money to spend on the sale.

You’ll want to make your sales event as fun and inclusive as possible. To this end, make sure to run games and activities and not just showcase your products. You could even run giveaways and competitions to give away some of your newest products for free.

Make sure that you devote a good chunk of time to your sales products, though. The whole point of running this kind of event is to increase sales, so it makes sense to spend at least the latter half of the event modeling your new clothing range or showing your new products in action.

After the pandemic, you may be facing more competition than usual when it comes to online events. It will pay to get the word out early and promote your virtual event as much as possible. Social media, email campaigns, and your website are all great places to start.

Memorial Day Sales FAQ

Which channels should I run paid ads on?

Facebook, Instagram, and Google are three of the best platforms to run paid ad campaigns on this Memorial Day weekend.

How long should my flash sale last?

It can last as little as a few hours, but don’t let it go on for longer than the weekend.

How can I avoid looking like I’m cashing in on an important holiday?

You can incorporate both summer and solemnity. Don’t overdo it on the joy, but keep the message positive. Consider donating proceeds to relevant organizations.

What should I include in my outreach email to publications?

Keep your email as short as possible, but try to stand out. State how much consumers can save, what products are on sale, and any other essential details.

Which platform should I choose for my virtual event?

Facebook or Zoom are two popular platforms that are relatively inexpensive (if not free) and stable to run events on.

Conclusion: How to Increase Memorial Day Sales

Memorial Day weekend is one of the biggest shopping events on the calendar. You can’t just launch a sale and expect customers to turn up, however, especially if you’re an e-commerce store.

Running ads, making the most of social media, and reaching out to online publications are vital to get the word out. Making sure your sale strikes the right tone with customers will be key to increasing conversions.

But don’t stop there. The best e-commerce stores use the Memorial Day weekend as a jumping-off point and do everything they can to keep holiday sales high after the Memorial Day spike.

Which tactics are you going to use this Memorial Day?

See How My Agency Can Drive Massive Amounts of Traffic to Your Website

  • SEO – unlock massive amounts of SEO traffic. See real results.
  • Content Marketing – our team creates epic content that will get shared, get links, and attract traffic.
  • Paid Media – effective paid strategies with clear ROI.

Book a Call

Neilpatel.com

MARKETING

45 Free Content Writing Tools to Love [for Writing, Editing & Content Creation]

Published

on

45 Free Content Writing Tools to Love [for Writing, Editing & Content Creation]

Creating content isn’t always a walk in the park. (In fact, it can sometimes feel more like trying to swim against the current.)

While other parts of business and marketing are becoming increasingly automated, content creation is still a very manual job. (more…)

Continue Reading

MARKETING

How data clean rooms might help keep the internet open

Published

on

How data clean rooms might help keep the internet open

Are data clean rooms the solution to what IAB CEO David Cohen has called the “slow-motion train wreck” of addressability? Voices at the IAB will tell you that they have a big role to play.

“The issue with addressability is that once cookies go away, and with the loss of identifiers, about 80% of the addressable market will become unknown audiences which is why there is a need for privacy-centric consent and a better consent-value exchange,” said Jeffrey Bustos, VP, measurement, addressability and data at the IAB.

“Everyone’s talking about first-party data, and it is very valuable,” he explained, “but most publishers who don’t have sign-on, they have about 3 to 10% of their readership’s first-party data.” First-party data, from the perspective of advertisers who want to reach relevant and audiences, and publishers who want to offer valuable inventory, just isn’t enough.

Why we care. Two years ago, who was talking about data clean rooms? The surge of interest is recent and significant, according to the IAB. DCRs have the potential, at least, to keep brands in touch with their audiences on the open internet; to maintain viability for publishers’ inventories; and to provide sophisticated measurement capabilities.

How data clean rooms can help. DCRs are a type of privacy-enhancing technology that allows data owners (including brands and publishers) to share customer first-party data in a privacy-compliant way. Clean rooms are secure spaces where first-party data from a number of sources can be resolved to the same customer’s profile while that profile remains anonymized.

In other words, a DCR is a kind of Switzerland — a space where a truce is called on competition while first-party data is enriched without compromising privacy.

“The value of a data clean room is that a publisher is able to collaborate with a brand across both their data sources and the brand is able to understand audience behavior,” said Bestos. For example, a brand selling eye-glasses might know nothing about their customers except basic transactional data — and that they wear glasses. Matching profiles with a publisher’s behavioral data provides enrichment.

“If you’re able to understand behavioral context, you’re able to understand what your customers are reading, what they’re interested in, what their hobbies are,” said Bustos. Armed with those insights, a brand has a better idea of what kind of content they want to advertise against.

The publisher does need to have a certain level of first-party data for the matching to take place, even if it doesn’t have a universal requirement for sign-ins like The New York Times. A publisher may be able to match only a small percentage of the eye-glass vendor’s customers, but if they like reading the sports and arts sections, at least that gives some directional guidance as to what audience the vendor should target.

Dig deeper: Why we care about data clean rooms

What counts as good matching? In its “State of Data 2023” report, which focuses almost exclusively on data clean rooms, concern is expressed that DCR efficacy might be threatened by poor match rates. Average match rates hover around 50% (less for some types of DCR).

Bustos is keen to put this into context. “When you are matching data from a cookie perspective, match rates are usually about 70-ish percent,” he said, so 50% isn’t terrible, although there’s room for improvement.

One obstacle is a persistent lack of interoperability between identity solutions — although it does exist; LiveRamp’s RampID is interoperable, for example, with The Trade Desk’s UID2.

Nevertheless, said Bustos, “it’s incredibly difficult for publishers. They have a bunch of identity pixels firing for all these different things. You don’t know which identity provider to use. Definitely a long road ahead to make sure there’s interoperability.”

Maintaining an open internet. If DCRs can contribute to solving the addressability problem they will also contribute to the challenge of keeping the internet open. Walled gardens like Facebook do have rich troves of first-party and behavioral data; brands can access those audiences, but with very limited visibility into them.

“The reason CTV is a really valuable proposition for advertisers is that you are able to identify the user 1:1 which is really powerful,” Bustos said. “Your standard news or editorial publisher doesn’t have that. I mean, the New York Times has moved to that and it’s been incredibly successful for them.” In order to compete with the walled gardens and streaming services, publishers need to offer some degree of addressability — and without relying on cookies.

But DCRs are a heavy lift. Data maturity is an important qualification for getting the most out of a DCR. The IAB report shows that, of the brands evaluating or using DCRs, over 70% have other data-related technologies like CDPs and DMPs.

“If you want a data clean room,” Bustos explained, “there are a lot of other technological solutions you have to have in place before. You need to make sure you have strong data assets.” He also recommends starting out by asking what you want to achieve, not what technology would be nice to have. “The first question is, what do you want to accomplish? You may not need a DCR. ‘I want to do this,’ then see what tools would get you to that.”

Understand also that implementation is going to require talent. “It is a demanding project in terms of the set-up,” said Bustos, “and there’s been significant growth in consulting companies and agencies helping set up these data clean rooms. You do need a lot of people, so it’s more efficient to hire outside help for the set up, and then just have a maintenance crew in-house.”

Underuse of measurement capabilities. One key finding in the IAB’s research is that DCR users are exploiting the audience matching capabilities much more than realizing the potential for measurement and attribution. “You need very strong data scientists and engineers to build advanced models,” Bustos said.

“A lot of brands that look into this say, ‘I want to be able to do a predictive analysis of my high lifetime value customers that are going to buy in the next 90 days.’ Or ‘I want to be able to measure which channels are driving the most incremental lift.’ It’s very complex analyses they want to do; but they don’t really have a reason as to why. What is the point? Understand your outcome and develop a sequential data strategy.”

Trying to understand incremental lift from your marketing can take a long time, he warned. “But you can easily do a reach and frequency and overlap analysis.” That will identify wasted investment in channels and as a by-product suggest where incremental lift is occurring. “There’s a need for companies to know what they want, identify what the outcome is, and then there are steps that are going to get you there. That’s also going to help to prove out ROI.”

Dig deeper: Failure to get the most out of data clean rooms is costing marketers money


Get MarTech! Daily. Free. In your inbox.


Source link

Continue Reading

MARKETING

Ascend | DigitalMarketer

Published

on

Ascend | DigitalMarketer

At this stage, your goal is to generate repeat buys and real profits. While your entry-point offer was designed for conversions, your ascension offers should be geared for profits—because if you’re serving your customers well, they’ll want to buy again and again.

Ascension offers may be simple upsells made after that initial purchase… bigger, better solutions… or “done for you” add-ons.

So now we must ask ourselves, what is our core flagship offer and how do we continue to deliver value after the first sale is made? What is the thing that we are selling? 

How we continue to deliver value after the first sale is really important, because having upsells and cross sales gives you the ability to sell to customers you already have. It will give you higher Average Customer values, which is going to give you higher margins. Which means you can spend more to acquire new customers. 

Why does this matter? It matters because of this universal law of marketing and customer acquisition, he or she who is able and willing to spend the most to acquire a customer wins.

Very often the business with the best product messaging very often is the business that can throw the most into customer acquisition. Now there are two ways to do that.

The first way is to just raise a lot of money. The problem is if you have a lot of money, that doesn’t last forever. At some point you need economics. 

The second way, and the most timeless and predictable approach, is to simply have the highest value customers of anyone in your market. If your customers are worth more to you than they are to your competitors, you can spend more to acquire them at the same margin. 

If a customer is worth twice as much to you than it is to your competitor, you can spend twice as much trying to acquire them to make the same margin. You can invest in your customer acquisition, because your customers are investing in your business. You can invest in your customer experiences, and when we invest more into the customer we build brands that have greater value. Meaning, people are more likely to choose you over someone else, which can actually lower acquisition costs. 

Happy customers refer others to us, which is called zero dollar customer acquisition, and generally just ensures you’re making a bigger impact. You can invest more in the customer experience and customer acquisition process if you don’t have high margins. 

If you deliver a preview experience, you can utilize revenue maximizers like up sells, cross sales, and bundles. These are things that would follow up the initial sale or are combined with the initial sale to increase the Average Customer Value.

The best example of an immediate upsell is the classic McDonalds, “would you like fries with that?” You got just a burger, do you also want fries with that? 

What distinguishes an upsell from other types of follow up offers is the upsell promise, the same end result for a bigger and better end result. 

What’s your desired result when you go to McDonalds? It’s not to eat healthy food, and it’s not even to eat a small amount of food. When you go to McDonalds your job is to have a tasty, greasy, predictable inexpensive meal. No one is going there because it’s healthy, you’re going there because you want to eat good. 

It’s predictable. It’s not going to break the bank for a hamburger, neither will adding fries or a Coke. It’s the same experience, but it’s BIGGER and BETTER. 

Amazon does this all of the time with their “Customers Who Bought This Also Bought …” But this one is algorithmic. The point of a cross sell is that it is relevant to the consumer, but it doesn’t necessarily have to be aligned with the original purchase. What you don’t want to do is start someone down one path and confuse them.

You can make this process easy with Bundles and Kits. With a bundle or a kit you’re essentially saying to someone, “you can buy just one piece, or you can get this bundle that does all of these other things for a little bit more. And it’s a higher value.”

The idea behind bundles and kits is that we are adding to the primary offer, not offering them something different. We’re simply promising to get them this desired result in higher definition. 

The Elements of High-Converting Revenue Maximizers (like our bundles and kits) are:

  1. Speed

If you’re an e-Commerce business, selling a physical product, this can look like: offering free shipping for orders $X or more. We’re looking to get your customers the same desired result, but with less work for them.

  1. Automation

If you’re a furniture business, and you want to add a Revenue Maximizer, this can look like: Right now for an extra $X our highly trained employees will come and put this together for you. 

  1. Access 

People will pay for speed, they’ll pay for less work, but they will also pay for a look behind the curtain. Think about the people who pay for Backstage Passes. Your customers will pay for a VIP experience just so they can kind of see how everything works. 

Remember, the ascension stage doesn’t have to stop. Once you have a customer, you should do your best to make them a customer for life. You should continue serving them. Continue asking them, “what needs are we still not meeting” and seek to meet those needs. 

It is your job as a marketer to seek out to discover these needs, to bring these back to the product team, because that’s what’s going to enable you to fully maximize the average customer value. Which is going to enable you to have a whole lot more to spend to acquire those customers and make your job a whole lot easier. 

Now that you understand the importance of the ascend stage, let’s apply it to our examples.

Hazel & Hem could have free priority shipping over $150, a “Boutique Points” reward program with exclusive “double point” days to encourage spending, and an exclusive “Stylist Package” that includes a full outfit custom selected for the customer. 

Cyrus & Clark can retain current clients by offering an annual strategic plan, “Done for You” Marketing services that execute on the strategic plan, and the top tier would allow customers to be the exclusive company that Cyrus & Clark services in specific geographical territories.



Source link

Continue Reading

Trending

en_USEnglish