It is the time of the great festive season again, and the ‘offer overload’ on social media is real. If you are a shopaholic, you can probably feel the excitement. Well, it indeed is the exciting time of the year for everyone- consumers and brands as they gear up to compensate for all that has been affected in the last two years. Reviving the old market sentiments through hefty deals has already begun. After all, it enhances the chances of converting new customers into loyal customers as well. Here, it is important to note that an attractive CTA is usually the deciding factor in your campaign's reach to more potential customers.
While all of the glitz remains intact, the old challenge of wooing consumers with multiple product offers to persist and it is interesting to notice two things:
According to the Market strategy consulting firm Redseer, India’s festive season is expected to generate a 28 per cent increase in sales by the first week of the season itself, accounting for $11.8 billion in ecommerce. While it is an exemplary opportunity for businesses to drive sales, it is also crucial to understand that festive times can uplift both - sales and brand perception. As a business, while the festive season primarily creates avenues of increased sales, it also works best for brand upliftment. Avenues, such as engagement rate, follower base, and other insights on your digital profiles are responsible to maintain the brand’s long-term story.
There is a need to carefully negotiate between the 'good to have' and 'need to have' elements of communication in the digital marketing strategy. Here are some points to consider to keep a healthy mix:
- Optimize your bio to maintain your profile conversion rate: With rigorous updates on the social media algorithms, multiple ads and posts can affect your engagement rate and your SM profile conversion rates as well. The conversion rate of a profile is follows/profile visits*100, and if the result is above 20 per cent, your profile has a good conversion rate. So how does it connect to the festive season? The point is if you are planning to go full-blown on your SM this festive season, consider optimizing your bio according to the current value statement.
- Check if your Offers can go in Highlights / Stories / Landing Pages: Consider what your campaign is around, and if you have multiple offers coming up, dedicate an entire space, like highlights/stories/landing pages/community pages, and prompt consumers to check them out. It help your consumers to access information hassle-free and enjoy the perks.
- Avoid the One-Size Fits All approach: Treating your loyal customers the same way as your newly acquired customers is a mistake that can cost you their long-term loyalty and affect the overall business. Run loyalty campaigns offering them exclusive perks or high-quality incentives by offering them VIP rewards. Use the insights of eCommerce business analytics to your advantage. Segregate your customers into value buckets and devise campaigns specific to each. It is important to communicate with each audience set differently to make your digital ads reap benefits.
- Keeping up with the algorithm: Remain trendy, and use the new tools and features of platforms to promote your campaigns. Now that Reels can be ads. With the likes of Instagram tying prompt short messages called ‘Notes’, it is exciting to see how the brands use the space in the future. Keep consistency with WhatsApp triggers and understand that the boomers live through it.
- Level-up your Customer Experience with APIs: As the online space continues to intensify, it becomes necessary for brands and marketers to behave more than just sellers and be a consultant to their consumers. Our experiences with the brands have taught us how conversational commerce has opened the windows for the expansion of tailored products and services. The messaging APIs have made customer experiences more effective and made it easier to track their behavior.
- Focus on your Customer Services: Keep the backend supply chain strong so that can address all consumer needs. The more people shop, the more issues come up with their experiences and this is the best time to convert a new customer into a repeat customer. The festive season demands top-notch customer support services to avoid negative reviews.
Valuing loyalty is the best branding policy at any time of the year. All one needs to do is use the correct strategies to maintain and increase sales that can help their businesses stand out from the crowd.
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