Giving gifts is similar to digital marketing's targeting. You aim to "message map" the ideal present based on your knowledge about the recipient while staying within a set budget.
Klarna polled 40,000 buyers in the United States who purchased at least one present over the holiday season and discovered that 79 percent waited until the last two weeks before Christmas to make their purchases.
This is excellent news for marketers since it implies our success or failure isn't dependent on one particularly outstanding weekend.
Instead, success is more attainable if we focus on delivering a steady stream of engaging content that speaks to our target audience's needs and interests.
How To Capture Last Minute Ecommerce Sales
When it comes to giving gifts, it's important to remember that it's the thought that counts. So, even if you're unable to find the perfect present, as long as you put some thought into it, the recipient is likely to appreciate it.
The same can be said for digital marketing. As long as you're delivering relevant and engaging content, you're likely to be successful, even if you don't hit the mark every time.
Add A Countdown Timer
Countdown timers are a great way to create a sense of urgency and encourage people to take action.
Using countdowns to create a feeling of urgency is nothing new. Timers might result in a 37.50 percent engaged conversion rate (sales) during the Christmas season.
The time remaining to order for your present to arrive on time is the most significant opportunity in countdowns. Because almost half of those polled said they would avoid retail shopping in 2020 owing to health concerns, the timely delivery of gifts became even more critical.
Amazon’s holiday gift guide has a countdown timer showing how many days are left to order for Christmas delivery. The focus is updated daily with new gift ideas.
Similarly, Best Buy’s holiday gift guide has a countdown timer showing how many days are left to order for Christmas delivery. The guide is also updated daily with new gift ideas.
You can also use countdown timers in email marketing. For example, Macy’s sends an email with a countdown timer to their Black Friday sale. The email also has a link to Macy’s Black Friday page.
Countdown timers can also be used on websites. For example, REI has a countdown timer on their website for their Cyber Monday sale. The timer shows how many days until the sale starts. The website also has a list of deals available during the sale.
Gift Card Promotion
Many of a last-minute shopper's saviors are gift cards, but many consumers often feel guilty about the lack of individuality. Good news for them (and retailers who profit from late shoppers):
Gift cards appear on 59 percent of wish lists! Allowing consumers to give product recommendations within the gift card amount is a solid technique to enhance average order value (AOV) with gift cards.
AOV is the average amount of money that a customer spends per order. By allowing late shoppers to give product recommendations within the gift card amount, retailers can increase the AOV and profit from last-minute shoppers.
Some retailers have started to offer "virtual gift cards" that allow the recipient to choose their products from the retailer's website. This is a great way to increase AOV because it will enable the recipient to determine precisely what they want, and it also allows the retailer to upsell and cross-sell products.
Another way to increase AOV with gift cards is to offer "bundled" gift cards that include a mix of products or services. For example, a retailer could offer a gift card that includes a $50 gift card to the retailer, a $20 gift card to a restaurant, and a $10 gift card to a movie theater. This allows the recipient to choose their products or services, allowing the retailer to upsell and cross-sell products.
Retailers who want to increase AOV should consider offering "virtual" or "bundled" gift cards that allow recipients to choose their products or services. This allows the recipient to choose exactly what they want, allowing the retailer to upsell and cross-sell products.
Add Ons for Charity
Adding the ability to "round up" for donation reasons, adding a stand-alone contribution, or offering consumers a "free gift" donation after spending a particular amount can be effective ways to increase sales without over-discounting your products/services.
Consumers are more likely to purchase if they feel that their money is going to a good cause, so adding a donation option (even if it is a small amount) can increase the likelihood of a sale. Additionally, consumers are often willing to spend more if they know that they are getting a freebie in return, so offering a free gift with a purchase can be an effective way to increase sales.
These strategies can help increase sales without resorting to heavy discounts, ultimately hurting your bottom line.
Offer Savings Opportunities
It will entice users to do most (if not all) of their Christmas shopping with you if you offer several degrees of savings (purchase two things, save 10%; buy three, save 15%; etc.).
Furthermore, studies have shown that a 5% increase in user engagement may result in a 75 percent gain in income.
Sales and discounts are a great way to increase user engagement and encourage customers to shop with you. By offering multiple levels of savings, you can create a sense of urgency and encourage customers to take advantage of your deals before they expire.
This can lead to a significant increase in sales and revenue during the holiday season.
Tips To Gain More From Last Minute Conversion
There are a few things that you can do to capitalize on last-minute conversions:
- Make it easy for customers to find your delivery deadlines.
- Offer expedited shipping options for procrastinators.
- Come up with creative solutions to last-minute problems.
- Be transparent about your capacity to meet delivery deadlines.
- Take advantage of social media to spread the word about your solutions.
- Make it easy for customers to find your contact information.
- Use data from past years to anticipate demand and plan accordingly.
- Keep an eye on trends and adjust your strategies accordingly.
- Be flexible and willing to change your plans on the fly.
- Have fun and enjoy the process!
Transparency in your capacity to meet delivery dates and inventive solutions for procrastinators can help you maximize the potential of your ecommerce channel.
Make sure you are honest about your ability to meet delivery dates. If you know that you will not be able to meet a delivery date, be upfront about it with the customer. Honesty is the best policy when it comes to setting expectations.
Be creative in your solutions for procrastinators. There are many ways to motivate people to take action, so get creative in your approach. You may find that offering a discount for early action is an effective way to get people to take the plunge.