Connect with us

Blog

Must-Know Ecommerce Holiday Marketing Stats

mm

Published

on

Holidays are about to come. It is wonderful, isn’t it?

It is not only a great time for holiday lovers, but for marketers as well. It is a good promotional opportunity for them to increase sales, brand awareness as well as get high quality traffic.

Holiday sales represent a high percentage of the annual sales, since people tend to spend more money during the holiday season. 

What does it mean?

In order to not miss your chance to bring high profit and success to your business, you need to prepare holiday sales in advance. Thinking and planning your marketing tactics and strategies beforehand will make the process fun for you and your consumers.

Digital Marketing is a must for any online store, since a good marketing strategy builds your business in this competitive market.

However, the holiday season is more challenging. You need to separately have holiday marketing strategies to attract more consumers and get the desired results.

You need many efforts to create creative and impressive marketing campaign for your business. However, the past experiences can become a great indicator to create stronger tactics for the coming year.

For this, let us have a look at some holiday marketing stats, that will help your campaign.

 

 

Mobile Search has a huge role in buying behavior of the customers, hence you need to give much importance to optimize your website for mobile devices.

Even if buyers have researched your product or service and have made a buying decision, mobile experience can wholly change their mind.

There are different factors that play a role in people’s buying decision, including; price, information, alternative paying options, navigation, etc.. Even a small error regarding these factors, can bring negative UX and take your customers to your competitors.

 

 

Holiday season brings more paying customers. A vital example of it is the period of Thanksgiving through Cyber Monday, which has brought over 189.6 million US consumers to online stores. This is just one example of huge traffic to online marketplace. A good strategic approach can lead many of these consumers to your own store, if you manage to target the right audience and show your competitive advantages.

 

 

Since customers tend to think about holiday shopping beforehand, it is the high time to catch their attention and shine with your bright offers.

Think about interesting and creative options for any budget. Creative ideas will enlarge the buyers’ cycle. Successful holiday sales depend on your holiday marketing planning. Your actions should include:

  • A competitive Analysis
  • Testing all Possible Technical Errors
  • Creating and Targeting your Buyer Persona

What is more, you can make some discussions and surveys beforehand, to find out what customers expect from your brand.

 

 

Being one of the effective channels of engaging and interacting with customers, social media platforms are among the best places of sharing holiday ideas and promoting customers.

Comments, reviews, polls, discussions can become ideal tools for creating interesting offers and targeting buyers. Among the best tactics, you can:

  • Making visually and financially attractive offers
  • Optimizing your content and sharing interesting holiday stories
  • Being active and responsive to questions and complaints
  • Having special offers

 

 

Psychologically, some shoppers want to get something for nothing (it refers to shipping price). Companies that offer free shipping for their consumers can attract more traffic and high conversions. Using this fact, you can make your shipping price work for you. Even if you cannot afford to make it for free, you can make some sales and promote it through different channels. For devoted customers you can make some small holiday presents, offering them some suggestions of free shipping. 

Conclusion

Planning your holiday shopping campaign beforehand and promoting your products through different channels can bring you a holiday sales boost. The overall preparations of your holiday sales should start from an in-detail analysis of your and your competitors’ last year’s experiences, weak and strong points of your digital marketing strategies and double down on your SEO efforts.

Author

Tigran is a marketing and creative content specialist at Smarketa.com with a primary focus on SEO, PPC and customer satisfaction for eCommerce business. Being a true humanist he draws inspiration from the simple thing as everyday life and the matters one come across on a daily basis doing his best and above to help everyone around.

Michelle has been a part of the journey ever since Bigtime Daily started. As a strong learner and passionate writer, she contributes her editing skills for the news agency. She also jots down intellectual pieces from categories such as science and health.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Blog

How Conventional Scores Are Stopping Most Millennials From Accessing Credit and How One Company Is Changing That

mm

Published

on

Credit scores are a barrier to entry for just about everything for millennials. Trust Science® is taking new metrics into account to expand access to credit with Credit Bureau 2.0®

What’s Keeping Millennials From Accessing Credit?

The concept behind a credit score seems simple enough. It tracks your credit history to see if you’re someone that a bank or lender can trust to pay back a loan. However, conventional credit scores just don’t account for the way that millennials and Gen Z handle their finances.

Even where a person would be fully capable and reliable in paying back a loan, the lack of an established credit score can prevent them from accessing credit, or at least from getting as much as they should be able to. That leaves millennials without an on-ramp into the modern economy and it can also jeopardize access to other “credit gated” necessities like housing.

The way that conventional credit scores are calculated is complex but boils down to 5 essential metrics:

  1. Payment history
  2. Amount owed
  3. Length of credit history
  4. Credit mix
  5. Hard credit inquiries

You can start to see the issue for millennials when you look at what data goes into their credit scores. For one thing, younger people don’t have a long credit history. Even without other factors, simply being young and only having had so much time to build credit puts them at a disadvantage. However, millennials have also been tending to establish credit later in life compared with previous generations, putting them at a further disadvantage.

The most significant issue here is the credit mix. Different types of credit affect credit scores differently, and millennials generally don’t have a favorable mix. While they might have a credit card or two, they generally don’t have mortgages. These are the most beneficial type of credit to have on your credit report, and millennials really have that going against them.

The student loan crisis also plays a big role. Young people today have much higher student loan debts than previous generations, meaning they have a great amount of credit owed. Not only that, but many can begin to fall behind on payments and see that amount grow. This can quickly send a credit score spiraling out of control.

Student loans aren’t the only threat. When young, some people make poor decisions. They could find themselves making credit mistakes very early on and suffering the fact that those mistakes can haunt their score for seven years in general. That means someone at 25 is still paying for a mistake made at the age of 18, even if they’ve been on the up and up ever since.

It’s clear that conventional credit scores weren’t designed with the current landscape in mind and that young people are being negatively affected. But what exactly can be done about this? One company is changing the way that lenders look at creditworthiness to make it possible for millennials to mitigate these issues.

How Credit Bureau 2.0 Fixes Those Problems

Trust Science is an innovative fintech company that has developed Credit Bureau 2.0, a scoring service that acts as an antidote for lenders, offsetting the problems posed by conventional credit scores. Instead of seeing a lack of credit history, a few negative issues from years ago, or a poor credit mix and ending any credit application, Credit Bureau 2.0 considers a wealth of additional data to generate a more accurate credit score.

Credit Bureau 2.0 expands the data used to calculate credit scores, getting the borrower’s consented, permissioned data and/or acquiring Alternative Data in order to reach a more accurate credit score. For example, those applying for credit can use Trust Science’s Smart Consent™ app to divulge their information safely and confidently to Trust Science, which is working on behalf of the lender that is trying to reach a decision about the borrower. By doing so, young people or other people without a credit history in-country can let prudent financial decisions in other areas of their lives demonstrate that they’re trustworthy for greater credit.

The service is available to a wide variety of lenders, including auto lenders, installment lenders, and single-repayment lenders. It’s in their best interest to find more reliable, deserving borrowers to give loans to, so Credit Bureau 2.0 benefits both sides of the transaction.

Trust Science CEO Evan Chrapko says that “Credit Bureau 2.0 isn’t just about giving borrowers access to more credit than they would have had otherwise. It’s about recontextualizing financial data to give both sides–lenders and borrowers–a more accurate and reliable way to enter into loans in the modern economy.”

Continue Reading

Trending