The holidays can be a stressful time for many people, but it can be even more stressful for retail marketers. According to the National Retail Federation, 20-40% of retailers’ entire yearly sales occur over the holiday season.
So in addition to cleaning the house, prepping for guests and picking out the perfect gifts for loved ones, retail marketers also need to worry about optimizing their company’s efforts to drive more conversions than any other time of the year.
Fret not though: here are the three biggest trends and tactics you can use to ensure your brand stands out on the digital shelves this year:
Geolocation. Omnichannel brands use geolocation to better connect with customers while they’re shopping. For example, you can use geolocation to deliver timely mobile messages to consumers, and even guide them to in-stock items at your nearest physical store. For pure e-commerce retailers, it’s also advantageous to detect a visitor’s location – for example, via IP address – so you can present pertinent gift guides, products, shipping offers and more.
Monetizing social mentions. Shoppers are talking about the topics and products that grab their attention, and being able to understand what’s trending on social channels can help digital marketers guide featured placements, messaging opportunities and potential promotions. Better yet, if you can present products uniquely suited to each shopper – based on what those with similar interests are researching, reviewing, socializing and buying – you can help drive more sales.
Real-time personalization. Don’t lump your online visitors in large buckets or service them with a standard, impersonal approach. Relevance is critical, and you can amp up holiday sales by presenting content and products that matter to your individual visitors. Look at things like:
- Where are your visitors coming from?
- What content or products have they viewed previously?
- What are they looking at now?
- Have they demonstrated a certain price affinity?
Personalization systems can rationalize that data – collected across channels – to determine visitor intent, and provide a tailored, 1:1 experience in real-time. This relevant experience is more likely to drive purchases and loyalty. Studies have shown that nearly 90% of marketers realize conversion lift from their personalization initiatives, and a recent Gartner report states that by 2018, organizations that have fully invested in all types of online personalization will outsell those that haven’t by more than 30%.
Leading retailers we work with have seen a double-digit increase in conversions and revenue per user by adopting simple yet effective strategies like those above. If you incorporate the strategies into your holiday plans as well, be sure to track your specific initiatives to determine which performs best – we’d love to hear from you after the holidays!