People eagerly wait for festive sales as the goods, exclusive deals, and discounts are attractive which encourages them to explore more offerings, resulting in a spike in online consumerism. And now, when global sales such as Thanksgiving Day, Black Friday, Cyber Monday, and End of Year Sales are around the corner, ad spends are projected to hit US$738.5 billion in 2022.
Online sales beautifully impress consumers and sometimes they don’t even realize that they spend 4-5 hours per day on their smartphones exploring apps (source: Techcrunch). Though for a marketer, sales is a strategy of approaching consumers with cost-effective offerings for achievable business objectives but for consumers, it’s like an emotion onto which they are willing to make online purchases. In fact, GenZ and Millennials are the most enthusiastic consumers who explore more products and sometimes look for the same goods on different brands in search of the best deals as they expect ‘more offerings at the lesser expense’. This also makes them mobile-first as well which can be a great opportunity for brands to establish their footholds.
Jeffrey Gitomer has well said that “Great salespeople are relationship builders who provide value and help their customers win” because building a good consumer base isn’t a matter of seconds rather it takes a lot of advertising efforts. If a marketer will not think about his audience then his competitors will; so, to help brand owners better understand their customers and with Changing Trends in Consumerism During Sales, here are some strategies that can help you to reshape your marketing practices.
Personalized Content: Online consumerism is indeed rising at a pace but still a user thoroughly analyzes the product briefing as he makes his expenses on a brand, trusting the quality of its offerings. He expects all the nitty-gritty details of it before making actual purchases wherein, quality discounts can boost sales effectively. So, marketers by analyzing the audiences’ age, spending habits, geos and demographics can plan inventory and highlight the product details with the help of effective adverts like Videos or Banners as it delivers the right message crisply and enables marketers to make the most out of the campaign.
Proactive Shopping: Sales have now become an indispensable part of human lifestyle because people get perks while shopping online due to which, digital retail stores have seen surpassing sales of 5,717 billion USD in 2022. This will also increase and will reach up to 8,148 billion USD by 2026 globally as online marketplaces have opened a great avenue of advertising for marketers (source: Statista). During sales, they can tap into the proactive users via Native Adverts as it best matches the look and feel of the media format where they get placed. Users while exploring products can shop from a respective brand as these ads are also beneficial in showcasing user-friendly deals.
Automation and Recommendations: Recommending suggestions automatically to the consumers that fit their requirements have gradually become a norm of digital advertising as it showcases the similar preference of the content that a user is already viewing or would likely to view. There is no doubt in saying that, the more brands try to showcase the recommended offerings to the consumers, they too desire the same from them. So, marketers with the help of Self-Serve DMP can showcase automated product recommendations to the users by analysing their past actions and behavior with the brand. Such insights help marketers to either pause or make adjustments in the campaigns and simplify users’ experience and make desired actions with more purchases.
Rewards: While making purchases, a person wants both ‘quality and quantity’ with great discounts and cashback. Herein, rewards in terms of purchasing can help marketers in better retention and acquisition rates because when a user gets anything extra without paying for it often returns for more relatable offerings. Marketers offering attractive discounts, rewards and coupons can see a difference in sales as providing consumers with such deals would make them brand loyal and increases their lifetime value as well.
Valuing Experience: A valued user always gives value to a brand! Marketers always strive to bring more value to the user by showcasing personalized content with cost-adequacy wherein, providing them with a Fast & Frictionless shopping experience can set a brand apart from the competition. Though personalization is essential but easy navigation and clutter-free user flows play a significant role in retaining users. Consumers often switch brands when they find difficulty in exploring the app that’s why marketers with easy UI/UX can drive quality user experience. When personalization gets coupled with quality deals and easy app navigation, users frequently return to the brand.
Being a marketer, acquiring users with post-install engagement becomes the topmost task and during the sales times, the process becomes more tedious due to increasing market competition and the cycle of Advertise ⇒ Promote ⇒ Sales ⇒ Profit becomes a loop of business model. Hence, understanding the trends in consumer behaviour and buying habits, especially during sales can be beneficial for marketers as it will help in making real-time decisions with more effectiveness in campaign performance.
