Well, if you plan on running any kind of holiday campaign at
your company, make sure that after the sales are over, you set aside some time
to evaluate how well the promotion performed overall in your company.
Why?
Because sales surrounding holidays will always take place.
There will be another Black Friday the next year, and there
will be sales in honor of the Fourth of July each year… Holiday sales are a
constant part of every year. And scaling is something you need to be able to do
in order to manage a successful business, the kind that will be there for more
than one Black Friday or Cyber Monday.
Tracking your promos to see which ones were successful and
which ones were not is one of the simplest ways to achieve this goal. Measuring
the efficacy of your previous promotions will allow you to improve the ones
that come after them, as well as the ones that come after them.
Why It Is Necessary to Monitor and
Improve the Performance of Your Holiday Promotions
In the past, I neglected to record or keep track of my
holiday promotions at my stores, which was one error that I made.
So, whenever a new holiday season would begin, the first
thing that I would do is sit down in front of my computer with a blank Google
Doc, and then I would say to myself, \”Alright, what are we going to do?
What are the email addresses that we are planning to use? How should the
advertisements be formatted?\”
I was essentially beginning from scratch each and every
year, as well as with each and every holiday marketing. I must admit that I am
a sluggish student because it took me several years of monitoring the
effectiveness of my advertising initiatives before I was able to determine
which of them were successful and which were not. I would then be able to put
that information to use in order to ensure that the holiday promotions for the
next year were even more successful.
I was compiling and analyzing data to ensure that the
Christmas promotions for the following year would be even more effective than
they were this year. And I continued doing that immediately after the end of
the promotions.
No longer do we send out promotional holiday emails for each
and every business over the holiday season. Exactly where it makes intellectual
sense. No matter what kind of holiday marketing you are doing, you should keep
track of both the efforts you make and the outcomes you get.
The first thing you need to do is
collect and organize the data for your campaign
It is extremely important to write down your most important
takeaways as soon as possible while the information is still fresh in your
mind. If you try to recall what was successful in the previous month, you will
most likely have a distorted view of the actual outcomes if you do so. You are
going to have a considerably more difficult time as a result of this.
Create a new folder in your Google Drive or wherever you
save your business papers, and name it \”holiday promotions.\” Place
all of your holiday promotional materials in that folder. Then, inside of that
folder, make a new folder and name it \”CYBER MONDAY.\”
Now, what you want to do is make sure that each of these
folders contains one document that corresponds to the corresponding year. It is
not necessary to produce a report consisting of five hundred pages on your
holiday email marketing initiatives. Just a straightforward record for jotting
down thoughts, statistics, and observations.
What exactly are we going to write in
this document?
The following is some of the most helpful information that
you will want to know for the Cyber Monday holiday campaign that will take
place the following year.
You will be able to open this document and see exactly what
took place in 2018 when you do so the next year. Because of this, you will be
able to make more informed decisions regarding your marketing strategies.
To begin, it\’s important to take in
the big picture
When you are monitoring the progress of your holiday
promotions, the Promotion Strategy should be the first place you look. What
kind of deal are you making?
Let\’s pretend that for the purpose of this essay, our
promotion strategy consisted of a fifteen percent discount on all orders over
five hundred dollars in addition to complimentary \”White Glove
Shipping.\”
The next thing that you always want to keep an eye on is the
number of people who visit your website (Total). In this particular instance,
we will refer to a 24-hour period.
You will now want to keep track, among those visits to your
website, of how many of them are considered to be Unique Visits. Let\’s imagine
that out of the 5,000 visits, 4,000 of them were completely different from one
another.
Following that is Revenue, which includes all of the sales
you made thanks to the holiday campaign. Say, for example, that we had a
fantastic Cyber Monday and were able to bring in a total of $50,000 in revenue.
Following that is the Ad Spend section, which you absolutely
need to look at because you need to know how much you spent on advertisements.
Let\’s imagine that we invested $5,000 in advertisements for the sake of this
example.
Now, the reason why you need these figures is because doing
so will provide you with an easy-to-understand overall picture of your
campaign. When you go back and see that you spent $5,000 on advertisements and
got $50,000 in income, you aren\’t going to conduct the following campaign and
only spend $3,000 on advertisements, are you?
It is recommended that you either duplicate these numbers or
make them significantly larger. Because of this, you need to have these as a
foundation from which to move on.