This year’s Design Atelier is full of gems.
The Smart Lab: Now Is the Time to Begin Online Advertising
Jewelers shouldn’t wait until Dec. 1 to start getting their names and products out there for the holiday season, says Emmanuel Raheb.
The holiday season is characterized by a flurry of gift-giving, goal-reaching and, if you’re a jeweler, sales.
Advertising is how you make sure your brand and product offerings stay in the minds of potential customers. If you wait too long to begin your online advertising, you could be hurting your Q4 results.
While most consumers might make their purchases in December, they begin shopping around more than a month in advance. According to a Google survey, 59 percent of U.S. consumers planned to begin holiday shopping in November.
This is a crucial statistic to be privy to because it means that November is when you want to begin delivering your brand messages to consumers. The goal is for consumers to remember your marketing when December rolls around and they are ready to buy (your products hopefully).
According to Cardlytics, there are four types of shoppers, as characterized by the time they shop during the holiday season:
—Steady shoppers: those who shop throughout the season;
—Early-bird shoppers: those who begin in October and early November;
—Black Friday shoppers: those who shop mostly over Black Friday weekend and Cyber Monday; and
—Last-minute shoppers: those who wait for the last few weeks of December.
And here’s what the numbers say about these shoppers across 10 product categories:
—46.4 percent are steady shoppers;
—26 percent are last-minute shoppers;
—19 percent are Black Friday shoppers; and
—8.6 percent are early-bird shoppers.
Additionally, the Cardlytics report says that Black Friday is losing its significance.
Despite this, most retailers continue to target most of their advertising spend toward Black Friday shoppers. With only 19 percent of consumers spending their money during that time, an informed retailer knows that it’s far better to target a strategic mix of all the segments.
When jewelers begin advertising in November, they are reaching the nearly 9 percent early-bird segment and the 46.4 percent steady shopper segment.
When jewelers continue to spend their advertising budget consistently throughout the holiday season, they also reach the Black Friday and last-minute shoppers.
When companies begin their holiday advertising in November, they are laying the groundwork for the rest of their holiday marketing. Customers are more receptive to companies they have heard from before.
If you begin advertising in December, you will lose sales to companies that began in November because customers will be more likely to purchase from the companies they saw earlier.
The best way to target customers is through digital marketing
Additionally, Statista reports that retail e-commerce is predicted to grow 40 percent between 2018 and 2022.
And according to Criteo, Dec. 23, 2017, was the biggest day ever in the history of mobile commerce in the United States, with 48 percent of all purchases being made on smartphones.
The time to invest in digital marketing is now.
The web has become an important marketing tool for companies in every industry; there is no method more efficient for targeting the right consumers at the right time.
Emmanuel Raheb is the CEO of Smart Age Solutions, a digital ad agency and coveted Premier Google Partner. Raheb is passionate about helping and strategically growing national jewelry brands and local retailers alike. Contact him at firstname.lastname@example.org.
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