Black Friday Marketing: Our Tips For A Successful Campaign
With Black Friday fast approaching, the stakes are exceptionally high for brands, with an estimated 9.2 billion dollars in online sales up for grabs this year. Savvy advertisers are gearing up to navigate the dynamic and fiercely competitive landscape of Black Friday, armed with innovative strategies that will set them apart from the crowd.
Advertisers have a golden opportunity to reach these uniquely engaged audiences. But with the economic landscape rapidly evolving, making the most of the season will require a smart and thoughtful strategy. We'll dive into key tips and tricks to empower advertisers in maximizing their Black Friday success in 2023.
Whether you're a seasoned marketer well-versed in Black Friday campaigns or just beginning to explore this high-stakes marketing arena, our data-driven tips will ensure you stay ahead of the curve and make the most of this pivotal shopping extravaganza.
This is just a glimpse of the valuable information available in our extensive holiday TV advertising guide — read it here.
Craft Creative That Resonates With Their Desire to Save
Black Friday is all about exclusive offers, discounts and deals. More Americans are price-savvier than ever before. In recent years, consumers have learned the importance of a favorable bargain in the face of inflation and the lingering effects of the post-pandemic era. Rather than curbing their spending habits, consumers are now actively seeking more intelligent ways to shop during the holiday season.
Research by eMarketer shows discounts dominated the holiday 2022 season, and holiday shoppers are likely to seek deals just the same this holiday season.
What does this mean for advertisers? Ads must speak to consumers' desire to save money. Highlight the discounts and deals clearly with a compelling call to action or a QR code. Additionally, it's wise to plan carefully who your ads are shown to. Today's consumers are increasingly knowledgeable and are more likely to ignore messages that don't match their interests.
Advertise To Black Friday Shoppers Early
While Black Friday does not officially begin until late November, holiday deals are beginning earlier and earlier every year. Why? Amazon’s Prime Early Access Sale has pulled holiday shopping well into October. Data shows that October e-commerce sales increased by 9.8% thanks to the Prime Early Access Sale, while e-commerce sales in December dropped 8.8%.
To target Black Friday shoppers, don’t wait until the week before the big event — start speaking to them right as they begin their holiday shopping. Our data indicates that sectors with the largest increase in linear TV ad spend during the holiday season typically begin to invest more around mid to late October.
Even better, launching ads ahead of time allows marketers to try out various creative approaches, timing options, advertising networks, and campaigns. By doing so, marketers can determine what works most effectively for their brand well before the holiday season goes into full swing. Use this time to find what strategy works and scale it up later on during the busier weeks of the shopping season.
Driving awareness early on will also allow you to grow and segment key audiences you can re-target later in the season. In an interview with Digiday, Ashley McDermott, senior customer education specialist at Klaviyo, noted, "September is about audience, list growth and testing new strategies," she continued. "Then, in October, you're preparing for your sending strategy, editing your flows and forms, and gaining an understanding of the deals and discounts you'll be offering before executing on that content in November."
Reach Black Friday Shoppers En Masse With TV
According to our TV+ platform, there are 56.6M unique Black Friday shoppers across linear and connected TV. Advertisers would be remiss to miss out on this critical channel and its extensive reach.
How can advertisers reach Black Friday shoppers across the TV landscape? For one, it’s important to understand where Black Friday shoppers are watching. Contrary to popular belief, linear still dominates the majority of ad-supported viewing time. Data from our TV+ platform shows linear TV accounts for 78% of Black Friday shoppers’ daily viewing time across ad-supported channels, while streaming only comprises 22%.
Even though streaming is becoming increasingly popular, most viewers still watch content on platforms without ads — think of subscription-based services such as Netflix. The big takeaway? While there is a growing chance to connect with viewers through streaming, traditional television remains the most effective channel.
Adopt A Cost-Effective Strategy
Just as Black Friday shoppers seek out good deals during the holiday, so too should advertisers. Yes, advertisers must scale up spending overall — but there are also ways to cut costs in certain areas to avoid breaking the bank.
This is especially important heading into the ‘23 holiday season. This year has seen further challenges due to economic instability and its potential impact on consumers' budgets, potentially disrupting the revenue that media companies typically generate during the season. With this in mind, cutting costs in advertising is more important than ever.
How can advertisers hit their business goals without paying a premium price? Consider using a combination of high-viewership and low-cost networks. Our TV+ platform, for instance, found the following to be the most popular networks and apps among Black Friday shoppers. Well-known networks and apps such as ABC, NBC, Paramount, and Peacock are excellent choices for advertisers looking to plan their holiday media campaigns.
However, advertisers can also save money by utilizing cost-effective networks and apps that may have slightly smaller audiences and lower advertising costs per thousand impressions (CPMs). Take a look at the table below showing linear between networks and streaming apps with lower CPMs — these should also be a key part of any TV advertiser’s plan.
For example, FOXNEWS has a 5% viewership on traditional television, and MSNBC has a 3% viewership, but both offer relatively lower CPMs. When it comes to streaming apps, Paramount (with a 24% viewership) and Hulu (with 6% viewership) are options with lower CPMs.
By creating a media plan that leverages a combination of higher reach and cost efficiency, advertisers can maximize reach without splurging on pricier networks and apps.
Maximizing Black Friday Campaign Success for Your Brand
To achieve holiday campaign success for your brand, it's crucial to collaborate with a TV advertising partner capable of crafting strategic campaigns that offer flexibility and extensive reach, optimizing the holiday season's vast consumer interest.
Simulmedia's TV+ advertising platform seamlessly blends powerful data science, automated software, and crucial integrations into a unified solution. With the capabilities of TV+, advertisers and marketers can skillfully navigate the continuously evolving media landscape, precisely targeting holiday viewers whenever and wherever they engage.
Ready to make the most of this year’s Black Friday? Schedule a demo with one of our experts.