It’s no secret that the holiday season is one of the most lucrative times of year for retailers. In order to maximise the success of this period by boosting conversion rates, it’s vital to have a clear strategy. The latest research shows that $1 in every $10, is spent on gifts – that’s 10% of the entire retail market. At a time when more customers are faced with more ads, more communications and more noise than ever before, it’s fundamental that your business can capture and keep the attention of acquired traffic to gain more holiday revenue.
As the holiday period approaches, consumers begin to frantically search for the perfect gifts. 73% of holiday shoppers will try out new brands and retailers, so this is your big chance to impress, engage and convert many new customers.
Accessories Magazine revealed 46% of gift shoppers say that ‘not knowing what to buy as a gift’ represents the biggest stress factor during the holidays. With so much choice and noise in the marketplace, the easiest way to keep traffic on your website and guide them to the perfect gift is by implementing a digital assistant across your homepage, category pages and communications.
What is a Digital Assistant?
A digital assistant acts much in the same way that an in-store colleague would – by engaging in a conversation and asking questions to guide customers to the perfect product for their unique needs. Want to see how it works? Check out these live examples:
Canon – Cameras are one of the most requested gifts for budding photographers…but choosing a camera is difficult, especially when it’s a gift. Canon’s Camera Selector guides shoppers to find the perfect camera based on questions that every shopper can understand, you can forget trying to filter through hundreds of options using terms like ‘Sensor Resolution’ and ‘Optical Zoom’. A digital assistant is more likely to keep shoppers engaged, and by curating a personalized list of recommended products based on the customers’ unique needs – means you are more likely to convert – up to 107% more likely.
KitchenAid – Every home cook dreams of having a KitchenAid mixer, but with different versions and attachments available, how do gift buyers know how to select the right bundle for the lucky recipient? KitchenAid implemented a Stand Mixer Assistant to ask a series of questions which not only helps select the right mixer, but the right attachments based on the recipients style of cooking – so you can be sure that
Trek Bicycles – Bicycles are one of the most gifted items for kids and adults alike. When customers buy a bicycle, they also buy into the brand and lifestyle, with upsell and cross-sell opportunities available over a long period of time. Ensuring the shoppers feel guided and supported in the selection process is hugely important – Trek use a Bike Finder to help customers pick the right bike for their specific needs and have seen huge jumps in engagement and conversion
Here is a checklist to help you get ahead of the holiday season and get the most from it:
1. Pick Your Holiday
It’s crucial to remember that the holiday season is year-round, not just during the winter months. It’s imperative to analyze your customer base and select the right holiday for your business, as it will determine the success of your holiday campaign. Remember, not all holidays are created equally. Consider the purchase motives of your audience as well as their wants and needs.
Another important aspect of holiday planning is setting proper goals for your campaign; this will keep your marketing team on track and motivated throughout the duration of the season. By defining KPI’s and breaking down the steps to success, your holiday marketing season will be nothing but smooth sailing.
There’s no such thing as too much planning, especially when it comes to the holidays, with so many businesses vying for your customers’ attention. That’s why jumping into the game too late puts the success and creativity of your campaign at risk. Putting your customer front-and-center is the way to increase your engagement and conversion, messaging and experiences which appear generic or devoid of personalization will be drowned out by competitors.
According to Shopify’s e-commerce study, the majority of businesses start prepping for the holidays at least 2 months in advance.
Unless your company is less than a year old, it’s likely that you have some historical holiday season data or similar sales data. Analyze which aspects of your previous holiday campaigns were successful and which were not. Also consider new technologies and initiatives that you may not have invested in before, this can he a sure-fire way to have a successful holiday season.
The Holiday Outlook
The gift retail industry is set to be worth $475bn by 2024, so there’s never been a better time to start getting your holiday marketing in shape. By understanding, engaging and acting upon the wants of busy consumers in the holiday season, you can expect to see conversion rates grow as well as your customer lifetime value.
Are you ready for a record breaking holiday season? Join this InternetRetailing webinar, hosted by zoovu or if you want to find out more right away, head over to zoovu’s Holiday Hub to find all the resources you need.