Last week officially kicked off the Christmas shopping season with the massive blowout sales on Black Friday. From now until the end of the year, customers will be checking out online in record breaking numbers, searching for the best deals, the lowest prices and the most value. It’s the biggest shopping season of the year.
Last year, shoppers spent more than $4 billion dollars online in the five days from Thanksgiving to Cyber Monday. 47% of shoppers purchased online on Black Friday. This year, the shopping season is once again set to break all records in numbers and volume. With every visit and purchase, customers are eagerly handing over identifying information.
And you’re wasting its full potential.
First-rate insights from First Party data
The chance to target, retarget and discover customers is unmatched at any other time of year. More data will be coming your way than ever before and all of it is strong, precise and targeted data that gives you the most return on your marketing spend. Are you going to go back to merely buying third-party data, the generic muddle of information that will fill the top of your funnel but won’t convince anyone to move down it? Or are you going to use the rich information that you’re gathering as the sales come pouring in.
Now is the time to gather your customer data so that in the New Year, you can put that First Party information to work. Your customers are already pleased with their purchases (we hope) and with your customer service. Bring them back to you more than once a year. Why rely on just a few weeks of sales to make your year when you can turn those into lifetime customers?
By learning your customer preferences now, you can more effectively plan your approach in 2014.
A Multi-Device Christmas
Every year, more and more shoppers use multiple devices to do their shopping. Last year, 18% of shoppers checking out deals from a mobile device on Cyber Monday and 13% made purchases from a phone or tablet. Most consumers report they do their planning and shopping at home but nearly 50% make their final purchase at work. In some cases, a customer will visit your site from three or four different devices before making a purchase.
This is the time of year that’s key to learning your customer funnel and refining it for the year to come when sales are not pouring no matter the roadblocks. Connecting a customer profile across devices provides an invaluable amount of insight. That’s not something Third Party systems can do. That only comes with the power of first.
Our philosophy is good data in, good insights out. If you start with better data, you will have better results. By focusing on the integration of First Party data with existing Third Party data, your measurement and targeting becomes exponentially more powerful.
Now is the time to harness the data that’s coming into your site so that you can set your campaigns for the next year based on robust customer profiles and deep audience-based targeting.