Media Strategy to Drive Holiday Shopping

Q3 is the time to update your Q4 (and Q5) media plan. Here are five questions to ask your media agency as you refine your holiday strategy.

1. How will social commerce and on-platform purchases affect my holiday media strategy?

Social commerce is booming, and TikTok is a main contributor. It is the primary reason Insider Intelligence expects social commerce to increase by 29.8% in 2023. Whether it’s TikTok or other popular apps, on-platform purchases are likely to increase this holiday season. How does this impact the consumer journey? There will be fewer touchpoints from which to draw insights. Brands investing in paid social media advertising should make sure their media agency is ready to adjust attribution models to maximize data collection from social commerce and on-platform purchases. Prepare for adjustments and changes in your media attribution models as shopping ads complement your existing sales funnel strategy.

2. Will AI affect shopping behavior this holiday season?

Salesforce research indicates that, “17% of consumers have used GPT for product research and inspiration, and 10% will likely use it to help build their holiday shopping lists.” Generative AI continues to be a hot topic with Google Bard and Bing AI facing off. With ChatGPT now a household name and more preference for personalized shopping experiences, AI is bound to play a major role in consumer engagement and advertiser media planning. Consider if you’ve built enough brand awareness and brand preference with consumers so you can be on their radar when building their shopping lists (by hand or by AI!). 

3. How do I get my brand on holiday shopping wish lists?

Reach new consumers and retarget your existing customers with an omnichannel media strategy that features various ad formats and multiple channels. Your media agency should go beyond platform-level recommendations to provide insight on which placements/formats will increase conversions best (e.g. in-feed, video, audio, filters, etc.), and which tactics are most effective with your target audiences. For example, TikTok offers video shopping ads on the For You Page (FYP). Their data shows that 1 in 2 users visit their FYP for content about holiday and shopping events. Make sure you’re including those who have purchased before and are likely to purchase again. Media agencies can use your zero-party and first-party data to enhance your campaign targeting in an omnichannel media buy (more on that below!).

4. When should I start holiday advertising this year?

According to Meta’s Holiday Planning Guide, a growing number of consumers are starting their Christmas shopping in October. Despite more conservative spending, 70% of consumers say they enjoy finding products they weren’t actively looking for. To get a head start on brand awareness, your media agency should invest in platforms that aid in discovery. Media strategy could include: Meta, TikTok, YouTube, or Pinterest for example. It is recommended to start your holiday advertising with a three-month runway or longer, building brand awareness, preference, and, importantly, collecting vital audience insights that will allow your campaign to surpass the competition.

5. How can I combat rising advertising costs?

Inflation has increased costs and marketing budgets continue to feel the squeeze. Gartner’s annual survey of North American and European CMOs reveals that 75% of respondents are being asked to deliver more results with less marketing budget. A cost-efficient media solution? Leverage zero- and first-party data. This tactic delivers cost-effective paid media campaigns that connect with consumers exactly where and how they want to be reached. Because it involves data you have in-house already, it can level up your campaigns right away if you have not been using it to its fullest. Additionally, make sure your campaign is spending your advertising budget wisely and safely (read our recent blog about programmatic advertising brand safety here).

Inflation and Holiday Marketing

While inflation may impact holiday shopping habits, brands can still boost sales with the right media strategy. Take advantage of the extended holiday season, especially this year, to get ahead. With innovative paid media, you can increase return on ad spend (ROAS) and conversions for a successful end of year.

Looking for advertising help this holiday season? Contact us today! 

Last year’s holiday marketing methods will not suffice with a fluctuating inflation rate. Now is the time to update your holiday campaign plans with research that understands socioeconomic realities for today’s consumers. What marketers need to know heading into Q4 2023:

• 73% of holiday shoppers deem holiday financial planning important
• Meta advises that eCommerce and retail brands have a “‘3 month runway’ into Christmas”
• Pay attention to how inflation affects your consumers’ journeys. 
• Cross-platform analysis is a must. 

Media Strategy to Drive Holiday Shopping

Q3 is the time to update your Q4 (and Q5) media plan. Here are five questions to ask your media agency as you refine your holiday strategy.

1. How will social commerce and on-platform purchases affect my holiday media strategy?

Social commerce is booming, and TikTok is a main contributor. It is the primary reason Insider Intelligence expects social commerce to increase by 29.8% in 2023. Whether it’s TikTok or other popular apps, on-platform purchases are likely to increase this holiday season. How does this impact the consumer journey? There will be fewer touchpoints from which to draw insights. Brands investing in paid social media advertising should make sure their media agency is ready to adjust attribution models to maximize data collection from social commerce and on-platform purchases. Prepare for adjustments and changes in your media attribution models as shopping ads complement your existing sales funnel strategy.

2. Will AI affect shopping behavior this holiday season?

Salesforce research indicates that, “17% of consumers have used GPT for product research and inspiration, and 10% will likely use it to help build their holiday shopping lists.” Generative AI continues to be a hot topic with Google Bard and Bing AI facing off. With ChatGPT now a household name and more preference for personalized shopping experiences, AI is bound to play a major role in consumer engagement and advertiser media planning. Consider if you’ve built enough brand awareness and brand preference with consumers so you can be on their radar when building their shopping lists (by hand or by AI!). 

3. How do I get my brand on holiday shopping wish lists?

Reach new consumers and retarget your existing customers with an omnichannel media strategy that features various ad formats and multiple channels. Your media agency should go beyond platform-level recommendations to provide insight on which placements/formats will increase conversions best (e.g. in-feed, video, audio, filters, etc.), and which tactics are most effective with your target audiences. For example, TikTok offers video shopping ads on the For You Page (FYP). Their data shows that 1 in 2 users visit their FYP for content about holiday and shopping events. Make sure you’re including those who have purchased before and are likely to purchase again. Media agencies can use your zero-party and first-party data to enhance your campaign targeting in an omnichannel media buy (more on that below!).

4. When should I start holiday advertising this year?

According to Meta’s Holiday Planning Guide, a growing number of consumers are starting their Christmas shopping in October. Despite more conservative spending, 70% of consumers say they enjoy finding products they weren’t actively looking for. To get a head start on brand awareness, your media agency should invest in platforms that aid in discovery. Media strategy could include: Meta, TikTok, YouTube, or Pinterest for example. It is recommended to start your holiday advertising with a three-month runway or longer, building brand awareness, preference, and, importantly, collecting vital audience insights that will allow your campaign to surpass the competition.

5. How can I combat rising advertising costs?

Inflation has increased costs and marketing budgets continue to feel the squeeze. Gartner’s annual survey of North American and European CMOs reveals that 75% of respondents are being asked to deliver more results with less marketing budget. A cost-efficient media solution? Leverage zero- and first-party data. This tactic delivers cost-effective paid media campaigns that connect with consumers exactly where and how they want to be reached. Because it involves data you have in-house already, it can level up your campaigns right away if you have not been using it to its fullest. Additionally, make sure your campaign is spending your advertising budget wisely and safely (read our recent blog about programmatic advertising brand safety here).

Inflation and Holiday Marketing

While inflation may impact holiday shopping habits, brands can still boost sales with the right media strategy. Take advantage of the extended holiday season, especially this year, to get ahead. With innovative paid media, you can increase return on ad spend (ROAS) and conversions for a successful end of year.

Looking for advertising help this holiday season? Contact us today!