Ahead of the biggest shopping period of the year, Niall Moody, UK Sales Director at Nano Interactive, explains how using AI-powered tools to get to know the target consumer on a holistic level.
Developments in retail technology, mobile technology and peer-to-peer marketing have turned consumers into far more discerning creatures than they used to be. With a plethora of research options at their disposal, modern consumers are more likely to turn to social influencers or review sites for advice about potential purchases, rather than allow themselves to be influenced by marketing material.
Advertisers, as a result, are feeling the pinch. Major online shopping events like last weekend’s Black Friday-Cyber Monday takeover, for example, are prime time for attracting consumers, with the promise of cost-cutting deals and promotions. But with so many people planning purchases weeks before the event, not to mention unparalleled advertising competition from other brands in the same space, advertisers who don’t sufficiently prepare for it could find themselves missing out on one of the biggest revenue opportunities of the year.
Not only this, but given their proximity to Christmas, retail events like this are becoming increasingly important indicators for brands’ sales performance over the whole festive period – and let’s not forget the coveted January sales that follow. So is there more that marketers could be doing to make the most out of the hottest events in retail?
Plan Ahead
Search statistics around Black Friday repeatedly show consumers searching for potential deals well ahead of the event.
Many brands have already cottoned onto this trend, and as a result are starting their campaigns earlier. Amazon fired the starting gun on its week-long sale on the 16th of November this year, for example. But whilst this is certainly a step in the right direction, what many brands are still failing to realise is that this ‘’pre-sale’’ search data hosts a wealth of untapped consumer insights that can be used to super-charge the impact of brand campaigns during the event itself.
Crucially, by examining people’s search behaviour, and tracking what shoppers are looking for outside of their own apps or websites ahead of the event, it is possible for advertisers to predict the other kinds of products, brands, and content consumers might be interested in. They can then use this to deliver relevant advertising and product offers to people on the day, with pin-point precision – but only if they use the right tools.
Invest in the right technology
Although planning ahead is essential, there’s no doubt that the real key to winning retail events lies in forging relationships with consumers that endure for the long-term.
As such, getting to know consumers on a holistic level is imperative. Thankfully advances in AI-powered search-based tools mean it’s now possible for brands to study and learn from consumer search behaviours, and offer tailored messages in real-time at key moments in their purchase journey.
This is immensely powerful for nurturing customers and driving continuous engagement, as consumers each have their own compelling personalised search experience and receive real-time recommendations in response to their queries, based on the products or services they have been looking for.
The information gleaned before and during the event can then be used to forge a lasting connection between brand and consumers. You can then continue delivering the right message to the right moment in a consumer’s purchase journey; before, during and after the big day.
Think long-term
There is some evidence to suggest that Black Friday is losing its appeal among consumers. But if the record-breaking success of Single’s Day 2018 is anything to go by, it’s clear that underestimating the power of major sales and retail events too quickly could be a massive mistake for advertisers.
This is one of the few times in the year that we can guarantee people will be actively searching for products and services, whether that be for themselves, or as presents for family members, colleagues and friends. With so much to be gained, it’s imperative that advertisers take advantage, and it all starts by using the right tools to achieve long-term success.
By Niall Moody
UK Sales Director