This article was compiled with the help of generative AI based on data and analysis that is original to EMARKETER.
The “official” 2024 holiday shopping season is compressed, with only 26 days between Thanksgiving and Christmas. But many shoppers won’t wait for pumpkins to be carved, let alone turkeys, to start spending.
“The holiday season really starts October 1,” Megan Gaffey, senior director of publisher partnerships at Rakuten Advertising, said on our Tech-Talk webinar Performance Marketing Playbook for Q4 Holiday Success. “And you see a lot of advertisers launch Black Friday promotions the Tuesday before Thanksgiving to get ahead of the noise.”
Ecommerce, which we forecast to grow 9.5% YoY, is expected to drive about $1 out of every $5 spent during the holidays.
“Online media can drive offline and vice versa. So for a successful Q4 as a marketer, that means having a very deep understanding of your customer, and why and where they buy your product,” said David Gill, vice president of consumer insights at Rakuten Advertising.
Use these strategies to navigate the shortened season:
1. Check all key promotional dates
A successful holiday season isn’t just about Black Friday and Cyber Monday. Consider the entire season and budget allocation. Cyber Week can be noisy, and other key dates can be opportunities, like November 11, Singles Day, which started in China, and December 14, which is Free Shipping Day.
“Promoting Free Shipping Day can make shoppers conscious of shipping cutoffs and [help you] get a push out there for online orders for the rest of the year,” said Gaffey.
2. Consider affiliate marketing for cost-effective reach
Affiliate marketing offers a performance-based model where advertisers only pay for results. “Every dollar that you’re spending in this space is really going forward to a sale happening, which makes it a very efficient channel,” said Gaffey.
Diversify your affiliate partnerships with influencers, coupon sites, cashback platforms, and content publishers to reach different audience segments. Remember that while affiliate marketing is powerful, it works best when supported by other channels like media and search.
3. Focus on retention beyond the holidays
Customers buying from you in December have year-round needs. “It’s not just about moving the unit during the holiday cycle. It’s about making that process seamless, so that you get a new fan of your brand and then come back over and over again,” Gill said.
Learn as much as you can about customers through first- or third-party research and demographics to identify segments they fall into and their needs, he added. “You can do a lot with a good set of psychographic profile data. Understand their full wallet and where else they’re shopping.”
Listen to the webinar.
This was originally featured in the Retail Daily newsletter. For more retail insights, statistics, and trends, subscribe here.
