Who am I? I come back every year. I was born in the United States. I attract crowds and the attention of all. I am at the heart of an advertising climax.
I’m, of course, talking about the Super Bowl of the retail industry: Black Friday! Indeed, this commercial tradition initiated from our neighbours from the south on their Thanksgiving has crossed the lines for a few years now. Canadian retailers, seeing their customers take out their passports to take advantage of the US bargains, had the event immigrated to seize the sales opportunity. Retail is not so different from football: everything is played in the fourth quarter, nicknamed Q4 in the business world. Expectations are greater each year; Black Friday has dethroned the legendary Boxing Day in terms of sales, making it the most important commercial event of the year.
For 2019, the predictions are good: it’s expected that consumers will be at the rendezvous and that sales will exceed $ 1 trillion in the US… for the holiday season ONLY! This growth is expected although 2019 has a twist. Indeed, there are usually more than 4 weeks between the madness of Black Friday and the unpacking of Christmas presents, but this year a week will be cut off the clock. Since Black Friday is an implicit trigger for holiday shopping, retailers are losing a week to encourage consumption and make up for the potential lack of success of their Black Friday.
This year, more than ever, brands need to be at their peak the day of the match. If several elements can influence the success of retailers, the sportswoman in me proposes that we stop our reflection on the preparation to Black Friday.
Get consumers to follow you
- Demand Creation
The top of the marketing funnel is often underestimated when it comes to Black Friday. We prefer to invest our dollars in tactics that lead to conversion and that can be directly attributed to sales. What we often forget is that consumers will find themselves in an ocean of offers, newsletters and advertising messages; in a shopping frenzy with which they have a love-hate relationship. By working up front the awareness and the consideration of your brand, you will be remembered when the explosion occurs. Create the demand, they will come for the offer.
- Creating Audiences
Audience Planning is the new black. Know your audiences, understand them and accompany them. Make sure your pre-Black Friday campaigns help consumers window-shop, but most importantly, help bring them to your website and create ad-engager audiences that you can retarget with your Black Friday offers. Know which are your most profitable audiences. Are your Black Friday and Cyber Monday customers the same? Is your CRM ready to be activated?
- The Implementation of Tests
You never test a new game at Super Bowl. Test all new formats, new tactics, new designs and new audiences that tickle your marketing spirit before the big day. Your Black Friday plan should only include the A’s and B’s who won their race!
Behind the Scene
A major fraction of your annual advertising investments will be concentrated on a few days, so be ready when the day comes.
- Optimize, Optimize, Optimize
Real-time reports and dashboards will allow you to track your progress and make changes when needed. For Black Friday, no daily or weekly report, everything is a matter of minutes!
For the media agency, elements to be determined:
- A clear taxonomy and well-installed trackers will be your best allies.
- Which KPIs?
- Which media indicators?
- What breakdown of tactics, messages or audiences?
- Which attribution model? Knowing the contribution of each tactic in the consumer journey is essential. It is too easy to forget that the defensive line protects the quarterback who will play the winning game.
For the client, elements to have in mind:
- Inventory level.
- Sales YOY : sales evolution compared to last year. Warning, Black Friday was a week earlier in 2018!
- Total sales: While it is easier to see the impact of digital marketing on online sales, in-store sales count for most of Black Friday’s revenue.
- Flexibility of Material
Have at hand the most standard formats and various versions of our creatives. This will allow you to seize spontaneous opportunities! Better yet, turn to Dynamic Creative Optimization (DCO) that dynamically adjust the message to the targeted consumer to increase the chances of conversion.
- The Insight Guy
You know, that person who is on the other side of the field, who sees the game differently and with a step back? That famous person speaking in the headphones of the coach? While all eyes are on dashboards, have someone take a step back and understand, or even predict, the market. See how Sport Chek capitalized on a consumer insight in real-time at Black Friday 2019.
- The Team
Again, the sportswoman is talking to you! Have a great team in place with defined tasks. Make platforms, reports, dashboards accessible. Know your budgets and contracts, then let your team make the right decisions and optimizations. You will not be disappointed, word of a participant of a Black Friday war room!
You have your best players on the roster, you have prepared all your games thoroughly, you have analyzed the opposing team and the external components: all you have to do is bring the cup home! Happy Super Bowl!