How to Succeed in Double-Digit Mega Sale Events
Is 12.12 sale familiar to you? Double-digit mega-sale events of this type are significant in South East Asia. It is important for brands and retailers to plan a well-thought-out strategy to participate in one of these events. Here are some helpful tips and guides to get you started.
In the retail industry, taking part in a mega-sale event is one of the top ways to increase revenue. If done properly, it will greatly affect sales. For instance, L’Oreal Vietnam’s marketing manager told Think with Google that using a certain ad strategy helped them achieve 4 times higher returns during their 12.12 campaign.
Think with Google further said that the key to doing this is to understand people’s shopping behaviors during mega sale events. Not only that, but you also need to plan an ideal strategy leading up to and after the event takes place. This article will discuss it further.
Before the Mega-Sale Event
These days, it is common for consumers to do some research before buying something from either an online or offline store. Customers expect sneak peeks at upcoming discounts as well, especially before the double-digit mega sale. During this stage, it will be crucial for your brand to stand out among others.
Updating your brand’s social media presence is a good start because it’s a go-to for consumers searching for reviews and inspiration. 63% of shoppers in Singapore often watch video reviews before purchasing something online. In addition, 85% of the YouTube audience in Indonesia, Thailand, Vietnam, and the Philippines agree that YouTube inspires them before they buy something.
Getting Closer to D-Day
After doing their research, customers often pile things in their carts. In this period, shoppers will think things through—they will re-evaluate their purchases, compare one store to another, and decide which place will give them the best deal. So it is possible that they change their minds and end up canceling purchases from your shop if they find a better deal.
Win the customer and optimize your brand’s performance with the combination of ad campaigns and machine learning to promote your brand across channels. Performance Max, for example, makes it easy for people searching on Google Search, even Google Maps, to see your store’s location and connect directly to your store’s website.
Follow Up on the Mega Sale Event
After the mega sale event, there is no doubt that shopping momentum will drop. However, peak shopping moments don’t stop after the event, as they usually continue throughout the year. For example, in Indonesia, the search interest in the “12.12 sale” will start to climb just after the “11.11 sale” peaked.
To keep the momentum, maintain a relationship with your customers by creating a customer loyalty program. Annex Cloud stated that 63% of Millennial and Gen Z shoppers won’t commit to a brand that doesn’t have a loyalty program. According to HBR, acquiring a new customer costs 5 to 25 times more than retaining an existing one. Besides, loyal consumers tend to shop more frequently than new customers.
In the end, as a result of the current trend, mega-sale events can be extremely competitive for everyone, especially for brands. Preparing for the event needs a well-planned strategy, from months before the event takes place until after it ends. Customers must be kept in mind and always remember that this is a trial-and-error process.
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