The 2010 holiday season broke an all-time record, with online shoppers spending $32.6 billion with more than $1 billion of purchases made just on Cyber Monday. With this kind of volume in such a finite timeframe, online marketers will need to diligently plan ahead of time to prepare for this influx of spending.
With your holiday marketing spending going on full-speed soon, you’ll want to ensure that every dollar of spend is utilized efficiently with maximum return on ad spend.
- Does your campaign have the right blend of search and display ads?
Studies have shown that a display buy can increase search lift by up to 155%. Here’s how it works: if a consumer searches for something related to your product and reaches your landing page and abandons, you’ve lost the consumer through search. But through display re-targeting you can find that same consumer elsewhere online and show display ads to them. This tactic helps keep the consumer engaged across multiple channels and helps you convert those previously “wasted” clicks.
- Are you using a real-time bidded ad exchange for your media buys?An eConsultancy survey published in September 2011 cited that 48% of respondents indicated that improved performance is a benefit of real-time bidding (RTB). Another 42% indicated that reduced media wastage, better targeting capabilities, and lower cost pre acquisition were benefits of RTB.With your holiday marketing spending going on full-speed soon, you’ll want to ensure that every dollar of spend is utilized efficiently with maximum return on ad spend. Take the time to research real-time bidding to determine how it can increase the impact of your marketing efforts.
- How are you determining success?
In today’s age of digital attribution, it may appear simple that a high CTR indicates success. But to ensure you have a comprehensive view of your multi-channel marketing campaign, you’ll want to combine your digital and offline efforts into one holistic view. This will give you the ability to perform cross-channel attribution and review global ad metrics.Remember, the holidays come once a year, and next year you’ll want to leverage the learnings from this year and not start from scratch.
The holidays are a time of good cheer, but online retail will be a fierce battleground consumer attention. Advertisers who understand the online marketing landscape and are able to nimbly change course can obtain a huge advantage over other competitors.