How Peak Amazon Events Influence Consumer Purchasing Habits ??
Peak Sales Season is just upon us folks! ??Ahh… the exciting Q4 is not too far away — back-to-shopping and plenty of sales opportunities abound! ??? Therefore, this week we will shed some light on Consumer purchasing patterns that undergo transformations along with the shifting seasons.?
In essence, the cadence of consumer purchases doesn't maintain a steady beat throughout the calendar. As a shrewd advertiser, attuning yourself to the flux in consumer shopping dynamics during pivotal junctures presents a golden ticket to extracting optimal gains from these periods of heightened opportunity. So, as we navigate the whims of seasons and the quirks of consumer behavior, remember, it's all part of the intricate dance of commerce!?
?? Quote of the Week
"In the modern world of business, it is useless to be a creative, original thinker unless you can also sell what you create."
- David Ogilvy
?? Hot News: The Three Stages of Peak Event Advertising
For those in the business of seasonal goods, the ebb and flow of seasonality is a familiar friend. Take, for instance, the purveyors of garden furniture. Picture this: a surge in sales as the promise of warmer weather beckons, leading up to the sun-soaked spring and summer months. Contrast this with the chill of winter ??, where the interest dwindles – not a frosty reception, but a noticeable lull in demand.
A parallel phenomenon dances into view during peak shopping events. Imagine consumers playing a strategic hand, holding off on their spending maneuvers before the grand spectacle of Black Friday/Cyber Monday (BFCM). They're eyeing the jackpot deal, biding their time. A subset of the savvy shoppers may engage in preliminary forays to snag early bird specials. However, the true blitz of deal-hunting frenzy typically unfolds during the apex of the event.
Behold, the three-act drama of peak events unfolds: ??
Act One: The buildup leading to the event.
Act Two: The crescendo of the event itself.
Act Three: The aftermath in the event's wake.
In every scene, a crucial directive emerges: adjust your advertising choreography to match the rhythm of consumer behavior during each phase. Here, our spotlight illuminates the art of advertising, where strategies morph with the shifting tides of consumer behavior. As we dive into the depths of this discourse, let us draw inspiration for the upcoming peaks of 2023 – from Amazon Prime Day, on July 11th-12th, and the grand finale, Black Friday/Cyber Monday, set for November 24th-27th. It's time to script an advertising saga that resonates with the consumers' dance through time.
The Lead Up ??
In the orchestration of a grand event like Amazon Prime Day, the spotlight may shine for a mere 48 hours, but the symphony of consumer anticipation begins to resound weeks in advance.
The lead up to Shopping Behavior: As the crescendo approaches, shoppers adopt a role of browsers, sifting through virtual aisles in search of the perfect deals and potential treasures to be unearthed when the event reaches its zenith. During this phase, we often witness a surge in click-through rates (CTR), yet the harmonious conversions (CVR) may lag behind. It's a dance of intent, where "add to cart" notes are struck, but the final notes of transactional melody are reserved for the peak event's arrival. Amidst this overture, some eager shoppers seek the overture, scouting for early deals. A prime opportunity to bestow your discounted offerings before the advertising stage transforms into a high-stakes gala.
The Economic Ebb and Flow ??
In the days leading to the crescendo, the cost per click (CPC) tiptoes upward, akin to a rising crescendo in the marketplace's symphony. As anticipation swells, sellers gather in larger numbers, recognizing the impending surge in footfall. With more than 9.5 million Amazon sellers globally, envision the delightful pandemonium as many clamor for their share of the spotlight. In this sea of ambition, the auction becomes a stage of intense competition, notes of bids soaring as sellers jostle for prominence. However, even as this melodic frenzy peaks, most consumers maintain a poised stance, waiting for the grand symphonic moments of the best deals to unfold.
In this elaborate dance of commerce, as the crescendo draws near, sellers ascend to greater heights of competition, costs, and expectation. Meanwhile, the audience of consumers bides their time, saving their ovations for the grandest notes of discounts and deals yet to come.
Capitalizing on the Leadup with Strategic Advertising ???
In the grand overture of advertising opportunities, the lead-up phase offers a chance to fine-tune your strategy for the imminent peak event. Your first step: deliberate if you wish to take part in this high-stakes period. Reflect upon prior engagements – was it a profitable endeavor, worthy of reprisal?
Should your retrospective lens reveal a triumphant profit from yesteryears, the stage is set for your encore participation. Amidst this anticipation-laden prelude, consider these strategic notes:
1?? Product Symphony
2?? Budget Sonata
3?? Spend Crescendo
4?? Share-of-Voice Symphony
The Peak ??
As the curtain rises on the peak event, the quiet anticipation of the lead-up gives way to a tempest of activity. Shopper behavior metamorphoses, becoming a whirlwind of fervor and decision-making. The marketplace undergoes a seismic shift, swelling with exponential traffic as consumers pounce on enticing deals they've been scouting since the prelude. In this electric atmosphere, advertisers who tread wisely can enjoy a lavish harvest of rewards. Their investments bear fruit in the form of heightened purchases and sales, as shoppers convert their window shopping into tangible transactions.
However, amidst this crescendo of activity, competition surges like a tidal wave. The cost per click (CPC) surges, vying for the most commanding positions on crucial search terms escalates in cost. Within this dizzying frenzy, advertisers face the challenge of striking equilibrium in the midst of chaos.?
1?? Visible Amidst the Storm
领英推荐
2?? Orchestrating SOV Harmony
3?? The Long-Tail Sonata
4?? Taming the Day's Peaks
5?? Brand Defense in Focus
With these directives in mind, your ad campaigns can shine brilliantly amid the tumultuous symphony of the peak event. The challenge lies in maintaining visibility while maneuvering through cost escalations, but with astute strategies, your brand can not only weather the storm but emerge triumphant from the crescendo.
The Aftermath ??
The final note of a peak event doesn't herald an immediate return to routine; instead, it ushers in a distinct environment teeming with its own array of challenges and prospects.
In the wake of a peak event, a sense of fiscal prudence settles in among consumers. Having secured their coveted bargains during the lead-up or the peak event itself, many shoppers enter a more conservative spending mode. While some may still linger as deal scavengers, it's crucial to tread cautiously due to the persistently elevated costs of placements, even in the face of declining conversion rates in the post-event period.
In the aftermath of the event, expect to witness the recalibration of CPCs – a descent from their peak, but not necessarily an immediate return to the baseline. Conversion rates, once soaring, now embark on a downward trajectory, resulting in diminishing returns. This can lead to the potential for wasteful expenditures in pursuit of dwindling gains. Yet, a strategic directive arises – resist the impulse to sever all advertising ties. While a reduction in intensity is prudent, the cessation of advertising can sow seeds of detriment to your organic rankings. Hence, it's wise to dial down, but not off.
In the symphony of commerce, the post-event phase offers a moment of reflection and adjustment, preparing for the next movement:
1?? Analyze the Echoes
2?? Bidding Retreat
3?? A Flicker of Presence
As the curtains close on the peak event, the post-event period calls for meticulous analysis, strategic restraint, and a measured continuation of advertising presence. These steps not only solidify your current successes but also lay the foundation for a harmonious transition into subsequent chapters of commerce.
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Scaling CPG Brands to $100K/Month on Amazon | Amazon Ads Certified | Content Marketing Strategist
1 年If brands can run display ads on and off Amazon, they can use the lead-out period to re-engage with their brand’s existing audience to drive loyalty and in-market audiences who may not have purchased their products. With both in-stream and out-stream video, many brands can capitalize on relevant branded searches and carry them through to conversion. Branded search metrics will give them insights into how their Peak Sales Season campaigns impacted searches for their brand.
Maker of Marketing Magic | Client Conquerer | Personal Injury Ninja | Digital Marketing Dominator | Legal Leader | Lover of all things Entrepreneurial
1 年Ahh it is so beautiful when sales surge during peak shopping seasons. There is an overlapping effect and lift for smaller players who don't advertise as much just by being on platforms like Amazon, eBay, and others.