Between the lights, gift exchanges and cheesy movies, there’s a lot to love about the holiday season. But, there’s an unfortunate thing that tends to happen this time of the year (besides extended visits from the in-laws, I mean).
Marketers often see a lag in their ad performance, with fewer clicks and a higher CPC (cost per click). Over the holiday season, ad spending goes through the roof, and there’s a 140% increase in cost per click.
The reason for this is pretty simple. Businesses that rely on holiday sales are advertising a lot more. Since there are only so many places where ads can be served up, it drives the cost up for everyone — even for ads that have little to do with the holiday season.
For example, there’s nothing particularly festive about email marketing software for small businesses, but ads for email marketing still have a higher CPC and get less visibility during Q4. Regardless of your product or service, if Facebook has a higher bid from Macy’s, your ads will get pushed down the list.
Luckily, there are a few things you can do to improve your performance and ROI.
How to maximize your Q4 marketing performance
#1. Target your best audience
When it comes to audience targeting, the wider the net you cast, the more expensive the campaign. You may be able to get away with this kind of strategy when CPC is lower, but during Q4, it pays to cast a smaller, more precise net.
Get more out of your Q4 advertising budget by targeting only those who are most likely to convert. Fewer people will see your ads, but every impression and click will be a lot more valuable.
Search ads are also a great option this time of the year because they allow you to target people actively searching for your brand, products or services. Focus on search terms that are specific to your industry or brand and that have relatively low search volumes for the best results.
#2. Run your most effective ads
Split testing — otherwise called A/B testing — is an important step when you want to maximize your advertising ROI because it ensures that you’re running the most effective version of your ads. But, there’s a time for split testing, and that time is not in Q4.
Now is not the time to experiment with new verbiage or test out different CTAs. It’s time to run the very best versions of your ads.
Think of it this way. If you were an Olympic gymnast, you wouldn’t test out a new routine during the final round of the games. You’d do a routine that you’ve practiced and perfected. The same goes for your Q4 ads.
#3. Focus on your best products and services
The version of the ad you run is just one aspect of how successful that ad is. Another big factor is the product or service being advertised. Ads for some products and services will always outperform ads for others, just as some products and services will always outsell others.
When CPC is high, it costs a lot more to advertise products and services that historically haven’t performed well for you. Just as you should focus on the best version of your ads, you should also focus on advertising your best products and services — even if that means limiting your campaigns to just one or two.
#4. Take advantage of retargeting
Even if you run your best ads for your best products, most people are not going to convert the first time they see your ad or are introduced to your brand or product. In the marketing world, it’s widely accepted that a consumer needs to hear your marketing message seven times before they’ll convert.
Retargeting helps you to get your ad in front of people who have already shown an interest in your brand by visiting your website, clicking on an ad, watching a video or adding products to their cart and then abandoning it.
Retargeting is a great advertising strategy to take advantage of in Q4 because it tends to have a higher conversion rate and ROI.
#5. Reconnect with existing customers
Tweaking your ad campaigns isn’t the only way to increase your ROI during Q4. It’s also a great time to focus on reconnecting with your existing customers and driving repeat business.
Loyal, repeat customers tend to spend more than new customers, and they’re also more likely to refer your brand to other people. Targeting them is well worth the effort when you need to make your marketing budget really count.
One great way to reconnect is with email marketing. For best results, segment your email list, personalize your emails and focus on past purchases.
Unfortunately, underperforming ads are all too common in Q4, but that doesn’t mean that you should stop marketing. Like with any other challenge, those who stay nimble and make the necessary changes will overcome.
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