How to utilize holiday season traffic for 2020’s Q1 growth
Q4 is the most competitive time period for ecommerce businesses, deals and promotions offered to capitalize on holiday season traffic bring hordes of potential purchasers to your site.
One of the most valuable groups of users that comes out of the holiday season is net-new users, who could have found out about the product from an ad, friend, influencer, or some other referral. These users are more expensive to acquire because they have no knowledge of the brand, so they need more touchpoints when compared to your current customers.
Whether or not you convert those new users into customers in Q4, convincing them to be long-term customers should be an important part of your Q1 strategy. In this post, I will walk through the value of some of these different holiday audiences and how to engage with them in Q1 to turn them into paying customers.
Often, the largest and best-converting Q4 audiences are current customers who are loyal to the brand and looking for some type of discount during major holiday times like Cyber Monday and Black Friday. These audiences are highly valuable, and you don’t have to pay much to bring them back to your site, but there are other audiences you should consider to help you reach your goals in Q1. These pointers will help you figure out how you can engage them.
1. Potential customers who visited but didn’t convert
Plan to re-engage potential customers who visited the site but didn’t purchase.
This could be for a variety of reasons:
- They didn’t find the product they were looking for
- Increased competition
- They didn’t think the deal was enticing enough, and others
With this audience, your lowest-hanging fruit is the group of users who added something to their cart or added payment information but didn’t convert. I recommend getting in front of them with special promotions or discounts.
2. First-time purchasers from Q4
First-time purchasers from Q4 will be even more valuable if converted into long-term customers. Consider two segments: those who purchased during Cyber weekend and new customers in general. You can infer that customers that purchased during Cyber weekend are more inclined and driven to purchase when there is a deal, so make sure to target them with ads that speak to this.
All of the audiences above represent retargeting audiences. In order to help reach acquisition goals in Q1, I recommend using data from these audience segments to build acquisition audiences as well – notably, building Facebook lookalike audiences from your segments of highest-life-time value (LTV) and most frequently engaged customers.
Other interesting LAL audience tests for Q1 could include building audiences off of first-time customers and potential customers who visited the site but didn’t convert.
Now that you’ve established the holiday customers to re-engage in Q1, it’s time to develop the messaging and offers to advertise to those users. Since many of these customers converted because of the discounts and sales offered in Q4, messages to consider would be incorporating Q1 holidays into the media plan and offer another discount or sale.
Audiences to target with these ads include
- First-time purchasers
- New users generated from lookalike audiences
- Users who visited the site without converting
For longer-term customers, consider showcasing new products or top products to retarget customers. To see what resonates the best with users test these with a variety of creatives – carousels, videos, and single images that feature these different product groupings.
Another strategy is to showcase complementary products to users who purchased a specific product or product type during the holiday season. For example, if someone purchased an Xbox, retarget them with Xbox games in Q1.
The holiday season brings increases in traffic, new customers, and site revenue. Don’t just celebrate these wins, use the data to keep winning by building strong audience segments and messaging to help push growth in Q1 2020.