Are You Getting the Most out of Your Holiday Leads?
With a projected increase of 15.5% in holiday spending in 2018 compared to 2017, it’s safe to assume that if you’re a retail and ecommerce business, you had a good end to the year.
Hopefully you’ve had a chance to take a breather after a busy season, and a successful start to 2019 is in full swing.
If you did everything correctly leading up to and before the holidays, you were able to grow your base of leads and first-time customers significantly.
However, the job’s not over quite yet.
There’s a lot that can be done to exponentially increase the value of these leads–from leveraging your new data to increasing engagement in the slower months. In this post, we’re showing you how you can get the most out of your holidays leads.
How to Keep Driving Sales in the Slow Months
With the new year already underway, it’s time to follow up. The holidays are over–people are back to work and focused on what’s to come.
January through March tend to be the slower months when it comes to sales–but they don’t have to be. Here are a few helpful tips to continue to drive sales in the coming weeks…
Leverage automation: If you gain a new subscriber or customer but cease your communication with him or her, it’s like getting someone’s number for a date and never calling.
Simply put–if a company doesn’t follow up, it’s a lost opportunity to continue to strengthen and develop a new relationship.
Automated campaigns that are time or action triggered are terrific methods to continue the conversation with your new customers and encourage them along the customer journey to become more engaged repeat customers.
Whether providing custom product recommendations based on their holiday purchases or encouraging them to follow your Facebook page, there’s a wide range of exciting ways to strengthen engagement and communication. In fact, according to Shopify, “business-to-consumer (B2C) marketers who leverage automation see conversion rates as high as 50%.”
Test trigger programs: Some of the most successful automated tools in the market today include shopping cart abandon and trigger campaigns based on browsing behavior. These programs use both digital and postal ads to present special incentives that get people to complete transactions while they are top of mind. It’s like tipping a putt into the cup.
Deploy multi-channel campaigns: While email marketing is effective for customer acquisition, you still need to develop a multi-channel approach in order to break the clutter today. From PPC to social media, find ways to subtly remain in the consciousness of your new leads.
Flash Sales or Clearance Campaigns: Who doesn’t love a good sale? Capture your new leads attention by offering irresistible flash or clearance sales–not to mention, if you sell physical products, it’s a great way to clear out leftover inventory from last year.
How to Leverage New Data
Making a point to continue to drive sales in the new year is one thing. But after the holiday season, you also have a huge opportunity to leverage the new lead and customer data you gathered over the holidays.
And there’s no time like the present to do so.
Let’s say you brought in 5,000 or 50,000 leads during a campaign and a portion of them become customers–that’s great.
But the question to ask now is, “What will you do with the rest of these people?”
As you plan for the spring and summer, take a moment to review leads from your biggest season. How well are you working with that data? For example…
- Do you know who’s opening and not opening?
- Do you know which of these email addresses are actually deliverable?
- Have you segmented on clicks and opens? Have you put it into any type of categorization?
Here’s a helpful overview of what you should be doing with all of your new lead and customer data…
What does it mean to maintain good email list hygiene? In many ways, it’s like taking your car to the shop and getting a full tune-up. Except, in this case, you’re tuning up your list of leads.
Essentially, you would conduct a validation, in which your whole database is cleaned and matched against existing data from a third-party data provider. This way, you know all the email addresses you have on file are actually deliverable.
The process, known as a data append, also entails checking for spam traps and other issues that live in email files. The email data may also be matched to a postal address or vice versa.
This is best handled by experts, who have aggregated public and private data and can fill in the gaps. And in most cases, you want to do this to a data set twice a year.
And, for example, along with a validation, our d3 specialists can provide clients with a free data profile analysis.
This means that we take your data set and provide a range of additional info we have about your leads–making it easier to target new customers in your future marketing efforts. Click here to learn more.
If you’ve been tracking conversions, you’re on the right track. This data is handy when it comes to knowing where to attribute the sale.
However, keep in mind that true attribution is elusive because in most cases, consumers don’t convert off of a single engagement.
It takes multiple touchpoints, and it can be tricky to know where to provide the attribution.
Typically, the touchpoints closer to the sale get the attribution credit. That said, keep in mind that if you didn’t put that consumer in the pipeline, they wouldn’t have gotten to the point of conversion.
Although conversion tracking won’t ever be 100% precise, it can still reveal information about your leads’ preferences, and where to spend your budget.
At d3, we can help you track and analyze which aspects of a multichannel campaign are most effective, whether it be targeted email, social media, postal, or more.
In order to ensure that your marketing campaigns are more highly targeted, you’ll need to segment your data sets.
After performing a data validation to ensure list hygiene, it’s important to create segmented campaigns targeting specific leads based on who they are and what actions they take. For example, you can segment based on clicks and opens, improving targeting to leads who respond to certain product categories, offers, and types of content.
Or, you could segment based on gender, location, age, and other demographic and psychographic data.
To maximize customer value, work to create custom audiences based on attributes of your most profitable customers. You know certain people tend to buy from you again and again, so why not use that data to target leads of a similar psychographic and demographic?
Most consumers are so distracted that marketers need to be using a multichannel marketing approach to keep their attention.
And when it comes to making decisions about how and where you allocate your digital marketing budget, source analysis is extremely important.
Let’s say you have a $100K media budget, and you’ve allocated a certain percentage of that budget to display, SEM, email, direct mail, and social advertising.
After you run three initiatives, you should ask yourself, “What works best based on the results we got?”
Depending on how leads convert within each vertical, you can make adjustments to your media spent. Marketing is a science and requires that you experiment and modify based on what you learn.
This is why it’s so important to capture the data and identify things like…
- How many and which contact points touched the customer before he or she engaged.
- Who your best customers are and how you reached them. They might be 20% of your file but 80% of your business, so developing targeted campaigns to reach new audiences similar to your best customers will be worth your while.
We know data analysis can be tricky, and everyone’s busy–but it’s always a worthwhile endeavor. And fortunately, there are experts that are available to help you.
At d3, we can look at your data and tell you what’s working, what’s not, and break down what needs to be done.