Building, establishing and defending your marketing budget at any time of the year is tricky. When you’re dealing with critical retail holiday budgets, it’s downright stressful. Our VP of Digital Strategy, Katy Tonkin, gives some sound marketing budget advice, no matter what your budget situation.
What is the best marketing strategy for investing additional funds for the holiday season?
Envision this as an opportunity to widen the funnel from top to bottom. Which tactics worked best last year? Focus on those winning strategies while increasing the number of high-value users you target via lookalike audiences. Base targets on user location interests and behaviors. Layer on additional testing to hone the audiences that are converting for you. Don’t forget to add some new channels! Programmatic ad buying and social media ads are highly targeted ways to fine-tune your holiday approach. The more specific and strategic your data, the more you’ll be able to create a bidding strategy that will bring your ads in front of a broader, more valuable audience this holiday season.
Limited or Same Budget
What do you do if you have the same marketing budget as last year?
Limited by last year’s budget? No problem. Sticking to last year’s best practices? No way! Uplevel your online strategy this holiday season by capitalizing on effective testing. Validate your audience by using last year’s stats. Deliver targeted ads and dynamic remarketing tactics to those folks (your highest-value customers). Consider using shopping feeds, and don’t be afraid of social media. Use it to enlarge your brand’s footprint in front of your audience (this will be a win for both your revenue and SEO strategy). Test as widely as you can afford in order to set a benchmark—that’s the data you’ll use to fine-tune your strategy for end-of-season pushes and next year’s holiday season, too.
AUDIO CLIP: Efficient Budget Strategy to get High Performing Audiences | Length: 0:48
Head of Programmatic Advertising
- Dig into eMarketer’s US Holiday Ecommerce Preview 2016: Mobile to Fuel Explosive Ecommerce Growth.
- Read the eBook: “Defending Your Digital Marketing Budget”.
- See Kate Dornan’s article “It’s never to early to start planning for 2017“.