Black Friday Strategies for Digital Ad Success
November 23, 2020
The official countdown to Black Friday, Cyber Monday, and the holiday season has begun! Black Friday is a major deal seeking opportunity for consumers across North America.
While Covid-19 has disrupted holiday plans around the world, heavily influencing how much people are spending, the channels they use to shop, and the items on their wish list, eMarketer forecasts unprecedented ecommerce activity this holiday season, expecting a spending increase of 35.8% to $190.47 billion in the US.
Not surprisingly, the top reasons that consumers cite for not planning to go to physical stores are overcrowding of stores and health/safety concerns, (Statista, September 2020). Consumers are generally trying to beat the line and deal hunt by using the internet as a tool for their shopping needs.
In the following, we want to provide you with tactical recommendations to get the most out of your digital advertising strategy this Black Friday and throughout the entire Holiday season.
Win Black Friday Placements & Save Money Using Automatic Bid Optimization with AI
When a digital campaign runs on Artificial Intelligence (AI), the algorithm controls the bids as opposed to having the advertiser manually control the bid amount (fixed bid). The algorithm analyzes which sites are most effective in real-time. It then optimizes towards factors such as creative, geography, demographics and other (targeting) tactics.
By examining historical learnings, the algorithm looks to obtain inventory at the most efficient price. This eliminates the advertiser’s need to decipher the ideal CPM to win a bid. Campaign performance increases 10-15% when using Artificial Intelligence.
Know Your Audience and Grab Any Opportunity to Connect on Interests
Behavioral targeting (as opposed to contextual, which we detailed here) allows you to connect with users based on interests and other demographic factors. illumin® allows you to build Live Audiences that reflect the end consumer. We identified seven main audience profiles that resonate for customers looking to connect with holiday shoppers. These are created using a variety of data sets that flow through the illumin technology. Get in touch to start connecting with these consumers online at any point during your holiday promotions.
Pay Special Attention to Timing and Budget Pacing
Your promotions should be well on their way at this point. In the coming week leading up to Black Friday, get ready for a frenzy of spending, now is the time to surge and amplify all your amazing content and to drive to deals and offers. Then, in December remind consumers and re-engage them. Finally, follow up with a ‘last minute purchase’ boost to close out the season.
Maximize Engagement by Mapping the Consumer Journey
We’ve all been there, forced to watch the same ad over and over again until you’ve hit fatigue. Mapping the customer journey is critical to ensure your consumers don’t get tired or irritated with your brand messaging. Plotting your campaign on illumin’s journey canvas can help you visualize the journey end-to-end. Creating consumer journeys intelligently is crucial towards connecting with consumers in a much more authentic way. It’s important to reconnect with users who have interacted with your ads in the past and give them a reason to stay engaged. Therefore, retargeting users in different stages of the journey with the right message at the right time is critical to success. Retargeting is even more important during the ‘reminder’ and ‘last-minute’ purchase stages of your campaign!
You’re Canadian eh?! Is Black Friday Important for you?
We didn’t forget about you Canada! Black Friday and the holiday season aren’t just for our friends south of the border. As of October 2020, studies found nearly 80% of Canadians plan to do most of their Black Friday holiday shopping online. Not only will Canadians shop online, almost 50% will do so via their mobile device compared to 15% in the previous year.
Connect with us!
Regardless of where you’re at in your seasonal promotions strategy, we can help you improve your digital efforts. Schedule a demo of illumin to find out how we can get digital working for you.