We’ve talked a lot about theory and strategy.
But what about some concrete examples of what other retailers do to succeed in the critical fourth quarter?
This year, the economy’s strong. Consumers have cash to spend. It’ll actually be hard to not have a good fourth quarter.
What can you do to make sure you make this upcoming holiday season as successful as possible?
Here’s what other retailers have done:
1. Re-Optimize Your Omnichannel Shopping Experience
This is a fancy way to say “give your customers a consistently exceptional shopping experience across all the mediums with which you interact with them.” It can actually be quite challenging.
You have multiple social media channels, an in-store experience, a website, and possibly TV and radio ads and billboards. Keeping things consistent across all mediums takes an intense focus on every detail and crystal-clear communication.
In 2015, Kohl’s rolled out buy online, pick up in-store. They redesigned their mobile website and app. They also launched #KohlsSweepstakes, which ended up being one of Black Friday’s big hits. They also improved in-store app features.
Customers don’t care that you are “omnichannel.” They want a consistent experience that makes it easy, and even fun, to buy during a stressful holiday season.
2. Best Buy Switches Up Its Marketing Messaging to Score a Big Win
In 2017, department stores as a whole saw a noticeable decrease in in-store customers as they shifted to purchasing online.
…But Best Buy wasn’t one of them.
It moved its marketing messaging from urgency-based (“sale ends in 24 hours” or “for a limited time only”) to value-based (“free shipping” and “financing available”).
In fact, out of 15 leading brands studied, it was the big winner overall.
3. Darlyng & Co Scores Big Profits With Paid Online Advertising
Yes, this is a smaller online retailer. But their strategies can absolutely work for a company of any size.
You can “boost” your top-performing Facebook posts for just a few dollars per day and drive more visitors to your online sales pages. You can also target consumers by zip code and send them into your store.
…And you can do the same with Google Ads and Bing Ads. The power of internet advertising lies in your ability to zero in on super-small niches, which boosts ROI.
If you don’t have the capacity to do this yourself, plenty of firms provide this service.
Ultimately, it falls on you to decide which strategies and techniques to implement this holiday season.
For now, you have more weapons in your arsenal so you can emerge from the holiday season as a big winner!