Online Strategy and Black Friday 2020 Results

 

1.Explore the Market

 

One of the first steps before you start investing in online advertising should be to study the market. Knowing the best market practices and the strategies of our main competitors, are two essential points to define our internal strategy.

To start investigating whether our product / service is in demand, we have a tool that we can use to measure public interest, Google Trends. Created in 2006, Google Trends is a free service and allows you to monitor the number of searches for a particular keyword or topic over time.

After checking if there is demand, we move on to the stage of creating a detailed market analysis. To do this, we must answer the following questions:

  • Who are our potential customers?
  • What are their buying habits?
  • How big is my market?
  • How much are my possible customers willing to pay for my product?
  • Who are my competitors?
  • What were your challenges and how did you overcome them?

Market analysis is one of the most important parts of a company’s strategy. In fact, it can help reduce risk, because if we understand our customers and the market conditions, we increase the likelihood of creating a viable product or service.

This analysis also helps to clarify ideas about what makes our product/service different from the competition, which can increase our chances of success.

However, don’t fall into the trap of simply saying that your solution is ideal for everyone. Setting a few parameters around your target market will allow for resource optimization.

 

2. Digital Strategy

 

After analyzing the market in which we operate, we must start thinking about the strategy to adopt to sell our product/service to our target audience. To do so, it is essential to know our product and identify the competitive advantages that it offers to the final consumer.

There are several crucial points that must be optimized before investing in advertising. Over here we highlight a few:

  • Optimized and Mobile Friendly Website

The website is the center of all marketing efforts and if it is not interesting and easy to understand, no matter how much time we spend developing the strategy, we will not win new customers. If your business dont have the design skills to create it internally, it is preferable to invest in hiring someone to create a modern, attractive and mobile-friendly website, or try to learn some of the existing software on the market that already allows you to create very sophisticated websites without having computer skills, such as Wix or Webflow.

  

Create a Blog

  • Adding a blog to your site can increase traffic by up to 434%.
  • Approximately 5.8 million new posts are created every day.
  • 77% of Internet users read blogs.
  • The average word count for the best rated blog posts on Google is 1,447 words.
  • The most profitable blog is the Huffington Post, with a monthly income of $14 million.
  • 53.3% of bloggers are between 21 and 35 years old.
  • Seven-minute readings attract more Internet audience attention.

E-mail marketing

  • Email marketing is one of the best ways to get in touch with users who have already shown interest in your business. This marketing channel is super powerful because it is a direct way of communication between your company and current and potential customers.
  • The process begins when we acquire the customer’s email address. From here we have to find out exactly how to do marketing to our list by creating interest and curiosity on them.
  • Consistently, email has proven to be more effective than Facebook, Twitter, Instagram and other social channels.
  • An email is more likely to be read than a social post, and the click-through rates are incredible!
  • An email automation platform like MailChimp that allows you to start for free is always an asset!

Social media

  • To be successful on social media, we need to add value to customer communication. Staying active on social media helps build a brand reputation which mean your audience start trusting in your brand and this will leverage the interest of buying from you.
  • Currently, social media marketing is a well-known digital marketing strategy, but there is a misconception on social media that the whole goal is visibility for your current audience. This is not always true.
  • Arguably social media is a great way to communicate with your current audience, but visibility and communication are not enough to develop a brand or company. We need people to share the products with your friends (and friends of friends and friends of friends of friends)!
  • But how do we get our current followers to share the brand or business with our followers …? Content! Really very good content.

This list of marketing strategies is not comprehensive, but we hope it helped to clarify some of the points where you should start.

These strategies, when executed correctly, really work. And they must continue to work.

The only caveat is that online marketing is constantly changing and evolving. Nobody knows with 100% certainty which strategies will work ten years from now.

All we can do is update ourselves constantly to know what is working in the present and to anticipate what will work in the future.

 

Transcend through Online Advertising

 

After analyzing the surrounding market and the best practices in the sector, we will see the results that online advertising can bring to your company!

In this specific case, we present 2 clients in very different phases: the client who has just started and a client with 5 years of experience in the digital world and who wanted to scale their results.

 

 

Client 1: Digitalization Client

In the example above, we address the case of a retail customer in the fashion sector, who has 2 physical stores in Portugal and with the World pandemia of covid-19 they felt the need to build a brand new website.

We were asked to draw up a strategic plan that would allow the brand to open this new sale channel and for it to be sustainable in the future.

First, we created an Online Store through the Prestashop Platform, defined a Social Media and Email Marketing strategy and implemented the Sales funnel, choosing Facebook as the advertising distribution channel.

The first campaigns were launched in October in order to strat creating brand reputation on the Portuguese audience and in November (2nd month of campaigns) we started to “attack” online sales. As we can see from the image, we present the results for the month of November that, with a relatively low investment (457€), we managed to obtain a return of 3.5 times (1.614 €) the value of your investment!

Although there is still a lot of work ahead of us, we found that applying the best practices in the market, quick and sustainable results are achieved.



Client 2: Scaling sales

In this 2nd case presented, we were already in the presence of a customer established in the Spanish market and in the digital world, but who had a decrease in sales in recent months.

This client is exclusively dedicated to women’s fashion and who did not find an answer to the decrease in sales when the competition increased her profits on the online channel.

A statistical report of the results was prepared compared to the previous year and we found that the segmentation of the campaigns, such as the ads created, were not suitable for the target audience.

Through the data collected, we adapted the audience segmentation strategy and created new ads for each age group in order for the consumer to identify with the brand. As a result, we can see from the image that the strategy implemented generated an increase of over 60% in revenue compared to the previous year, thus reaching a historical record for the brand in a month in sales!

This result, achieved not only by the increase in sales but also by the improvement in the conversion rate of the website and in the value of the shopping cart.

In short, we found that with a well-implemented strategy, knowledge of the surrounding market, the choice of suitable advertising channels and an automation process that allows us to get the most out of advertising platforms, we can achieve great results!

Is your business still not generating profitability online? Leave your contact here to analyze your case!

We offer a complete audit to your company to identify what can be improved and how to scale your online sales!

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