In 2022, eCommerce holiday marketing will need to be more adaptable than ever to capture greater market share. As customers now expect highly contextual and relevant brand interactions, upgrading your company’s analytics tools and marketing strategies is a necessity. With a sophisticated funding method, you can quickly upgrade your year-end marketing strategy to meet your customers whenever and wherever they are.
Companies who can’t leverage new funding sources will have a hard time transitioning to first-party data collection and new email marketing analytics techniques – a veritable necessity as third-party tracking methods are largely coming to an end. We’ll cover the changes impacting the holiday eCommerce marketing trends in 2022, because now is the prime time to adapt to these changes for quick profits and far-reaching market influence.
Is eCommerce Holiday Marketing in 2022 the Last Big Chance for Third-Party Data Collection?
CRM (Customer Relationship Management) software has dramatically changed how online marketing is done. As increasingly advanced methods were derived from decades-long data collection, applying these methods also become much cheaper. The catch has just been the need to invest a little money and time upfront learning new methods to save time going forward with more streamlined and powerful data management systems.
The ROI of CRM platforms has reached an astonishing 900%, according to Nucleus Research – and the CRM industry continues to grow rapidly with a 16% year-over-year rate, projected to exceed $100 billion in 2023. What this means for online marketing in late 2022 is that there are more quality analytics tools than ever available to those with the funding necessary to do so.
Our takeaway is this: The earlier you begin leveraging these crucial but affordable tools, the more you’ll reap the profits when the November sales spike hits. Then, when sales drop off in December through January, you’ll have greater sales metrics to play with as you plan for 2023. Ironically, it could be said that approaching the 2022 holiday buying season from the most far-reaching perspective is what will likely result in the greatest short-term benefits.
How To Use Analytics During the 2022 Holiday Marketing Season
This raises the question of how to best leverage new marketing investments, especially for maximum return over the holiday buying season. As mentioned, eCommerce holiday marketing can now be pursued with maximum personalization – if you have proper tools and strategies in place.
While third-party cookies can still be leveraged, follow these tips to personalize your holiday marketing strategy and boost end-of-2022 sales:
- Personalize your purchase confirmation screens or any follow-up messages with highly relevant purchasing suggestions, gifts, or discounts based on their activity
- Implement loyalty programs to begin shifting to robust first-party analytics
- Reach out to at-risk customers – those who went far into the buyer’s journey, then stopped – and show that you care about their exact needs these holidays
- Gauge and compare sales channels to measure performance and make appropriate adjustments
- Customize interactions based on each customer’s position in the buyer’s journey and according to their most recent and historical engagements with your content
- Track product performance to better allocate funds, taking into account inventory forecasts and recent buying-habit trends
- Leverage eCommerce supply-chain management analytics to note delivery speeds and accuracy for each vendor
- Correlate sales patterns with inventory for tighter, sales-based revenue financing
Any of these tips will help bolster sales – but only fully synthesizing them will result in phenomenal and lasting returns. The catch is that doing all this manually is almost impossible, and we aren’t encouraging you to bury your nose into more spreadsheets; quite the opposite.
Where the difference between five minutes or 30 can result in 21 times greater conversion rates, ever-tighter lead times and increased personalization are crucial, and setting aside funds for advanced and automated marketing tools is now a standard that must be budgeted for. These tools will improve conversion rates for you, the customers increasingly expect the personalized experience they provide, and your competitors are likely already providing it.
Leveraging Sales & Market Data To Achieve Higher Visibility
Armed with these more advanced marketing strategies, how can sellers use them to earn more recognition in product categories on their sales platform(s)?
Economic downturns over the holidays makes buyers more prudent, and shoppers will be looking for ways to reduce large present-spending splurges, opting instead to take advantage of good deals as they come. They’re more inclined to do their holiday shopping as they go, slowly checking their list off with care and opportunism. The plus side for the savvy eCommerce marketer is that customers become more open to making alternate decisions not originally planned – if your price, inventory, timing, and marketing content hit the right spot.
This is a great time to expand into other product categories, which will increase your brand’s visibility. For that matter, new investments in experienced marketing/brand-management firms would boost it all the more. As you expand, be sure also to tighten up what you already have. Evaluate current product performance on each given sales platform, and make adjustments as necessary to ensure greater quantity and quality of products for your customers, new and old.
This is a major topic itself – but briefly, here are other time-tested ways to tighten up your brand’s presence on sales platforms as you shift your eCommerce holiday marketing strategies:
- Check out what your competitors are doing
- Strengthen vendor relationships – do they have innovative new products?
- Leverage your best vendor relationships for product exclusivity, and market it as such
- Pore over your reviews, adjust accordingly, and publically set things right with dissatisfied customers
- Alter your returns and other policies/agreements to favor your customers
- Provide warranty services, both free and paid
- Create deals, gift cards, and promos particularly attuned to deal-seeking shoppers
This last point is worth elaborating on, as both holidays and slightly slower economic activity naturally attune shoppers to deal-seeking. Together, these elements mean that you’ll miss out big if you fail to capitalize on prime deal-seeking time.
Another option not many online retailers take full advantage of is creating affiliate marketing opportunities for your customers, automatically boosting our sales and spreading your brand name further. There are plenty of made-for-you affiliate systems you could simply outsource the creation of, if you had the cash on hand. If your brand is getting big enough, it could be well worth the investment, even if funds are tight – especially with flexible and low-interest funding arrangements.
Simply Keep Prices Low
When it comes to capturing more market share, nothing drives sales like underpricing the competition. Of course, lowering (or at least not raising) prices even with rising inflation may prove challenging; however, that’s only true when you allow your funding sources to remain stagnant.
Most of all, maintaining competitive price points precisely when customer incentive to splurge is low means vendors must leverage as much access to cash as possible. If done, freeing up cash flow like this will allow your brand to reap massive keystone benefits just when it counts:
- Lower prices over the competition
- Important new access to inventory to reflect customer preference
- Cover any increased marketing expenses to capitalize on holiday purchasing habits
- Higher brand visibility and esteem as your customers enjoy greater buying power (not to mention goodwill during the holidays)
It’s important to note also that highly selective customers are still very eager to purchase, which is why they are so selective in the first place. While they may not buy as voraciously as in most years, the purchases they make will count more to them – and be more meaningful to their loved ones. Ensure any new inventory you purchase stands out just as well to the purchaser as you think it will to their gift recipients. Emphasize novelty and choice, and your customers won’t be able to help but look your way.
Rather than stretch your budget to do all this, think instead of how you can pad your cash on hand to enjoy these advantages from a place of strength and comfort. If instead you tried to force these benefits by bootstrapping yourself, customers might notice the strain and sense it as a slight feeling of desperation.
On the contrary, you can obtain these benefits by equally bolstering:
- New eCommerce marketing strategies
- Creative financing solutions
Even if you did nothing else in this guide, estimate the ROI of “investing” in nothing more than the ability to brandish higher prices when your competitors can’t. This would go a long way in boosting your eCommerce holiday marketing strategy in the short term while strengthening your customer-brand relationships well into the next year and beyond. Considering how eCommerce marketing will radically shift in 2023 on top of it, nothing will beat strong, ongoing brand-customer relationships.
This is the time to sow greater returns on relationships and show your customer base that you go the distance when others won’t or can’t. In the future, they’ll remember you as the one who did what everyone else couldn’t. This is crucial to maintain brand awareness not just when compared to your other SMB competitors, but in comparison to the big box online retailers themselves.
Investing in Customer Relationships Is an Investment in Your Bottom Line
Significantly upgrading your marketing systems doesn’t have to be just another cash-draining task in your overall online sales strategy. Rather, investing in a powerful new holiday marketing strategy in 2022 can become a source of long-term financial security in the long run. Fortunately, obtaining funding for any eCommerce-related service improvements has never been easier.
With Onramp, fees as low as 1% of sales and repayment plans revolving around real-time sales amount to fast access to cash that can be more comfortably repaid. Having Onramp’s unique funding strategy at your side opens countless doors to new eCommerce holiday marketing strategies that will quickly pay for themselves and drive future profits. If this is what your business needs most right now, contact us, and get an offer today.