According to the Bureau of Labor Statistics, inflation rose 8.2% between September 2021 and September 2022. the resulting, theory of experts That it will be heavy on both retailers and shopkeepers.
Buyers will be on the lookout for more discounts than usual, while retailers may struggle to offer them.
Below, we’ll highlight what we learned from polling 300+ consumers after this Black Friday. Then, we’ll share some marketing tips for creating effective Black Friday ads.
What We Learned About Black Friday Shoppers and Brands in 2022
1. The impact of inflation has not been as per our expectation.
The one word on everyone’s mind in the weeks leading up to Black Friday was inflation. With inflation at over 7%, retailers feared that consumer spending would be much lower than normal.
According to retail diveBrands like Target and ThredUp lowered earnings estimates for Q4.
Contrary to speculation, this year did not see a sharp reduction in consumer spending. in fact, a adobe analytics The report found that online spending was up 2.3% year-on-year.
One way consumers can control rising inflation is by using buy now-pay later services. According to the report of CNBCThese transactions increased by 78% compared to the previous week.
One thing’s for sure: Black Friday is no more long lines and midnight openings. Consumers believe they can get the same – or better – deals online and thus, need a different motivation to visit a store.
This is good news for e-commerce brands. For offline brands, this may require adopting a new approach that prioritizes an online-first strategy.
More on that in the next section.
2. Ecommerce brands are outperforming stores.
One Crito Survey suggests that Black Friday is becoming more and more like Cyber Monday, as consumers are conducting most of their transactions online.
The survey found that retailers’ websites saw a 9% year-over-year increase in the week leading up to Black Friday. In addition, consumers globally increased their online transactions by 4.8%.
Here’s another startling statistic: Online transactions for US retailers increased 374% month-over-month while in-store grew only 64%. This shows that online deals are more attractive to consumers.
Retailers in the EMEA region also saw similar trends, although the growth was not as high.
According to the Criteo study, one of the major reasons for this is the cost. Consumers spend a lot of time online to find the best deals and they also believe they can get a better price this way versus in-person.
We surveyed 325 US consumers and when asked, “Did you go to a physical store on Black Friday after seeing an ad for its deals?” Only 38.5% answered yes.
3. Social media was a top channel for Black Friday ad engagement.
It seems impossible to get through Black Friday without seeing at least one ad. When we ran this survey last year, respondents clicked on the ads they saw most on social media.
This year, online ads (on websites or search engines) ranked #1, with 32.9% of respondents saying they clicked on Black Friday ads. However, social media came in close at 32%.
Social media can be a huge revenue driver when it comes to Black Friday ads. And the opportunities it provides continue to expand.
Let’s take a look at Instagram for example. You can search for a brand, scroll through its profile, see a product you like, and complete your purchase without ever leaving the platform.
With so many social media platforms offering e-commerce features, brands can engage buyers at any stage of the buyer’s journey and consumers can experience a seamless shopping experience. It’s win-win.
From an advertising perspective, it is important to create a brand strategy and launch your campaigns early.
According to stupid walletBrands like Target and Amazon launched their Black Friday campaigns as early as October 6 this year.
This is in response to a recent consumer trend where shoppers begin their holiday shopping earlier than in previous years. As a result, brands are launching early to ensure that potential consumers are seeing what promotions they have to offer.
So, instead of waiting for the week leading up to Black Friday, when the time is already flooded with ads, consider starting a few weeks earlier and you may get better results.
5 Tips for Creating an Effective Black Friday Ad
1. Plan (and launch) early.
This year, consumers started holiday shopping early.
We cannot predict with complete accuracy what things will look like next year. Therefore, in the absence of knowledge, it is better to be prepared than not to have to prepare.
In other words, don’t start planning your promotional strategy in early November. You want to give your team enough time to plan an effective strategy that will reach your target audience in the right place and at the right time.
You will need ample time to design a plan, develop a strategy, create creative assets, and launch the campaign. You also have to account for any obstacles that may come in the way.
2. Highlight how a service or product can solve a problem for your customer.
The purpose of your ads should be to educate ideal customers about your offerings, how they can help them, or why they might need them in their daily lives.
But, when you don’t actually sell a needed product, how can you tell if your offering is valuable, important or needed? While it may take some creativity, it is possible to do.
Above is an example of Twitter content from InfoArmor, an information security service owned by Allstate.
In the tweet, InfoArmor shared a blog post about the dangers of information security when working remotely and how InfoArmor can protect remote employee information.
3. Diversify your promotional channels.
We mentioned that social media is a huge revenue generator during Black Friday.
However, that doesn’t mean that this is the only channel you should take advantage of to attract buyers. In fact, you should promote your ads across all channels to maximize your reach.
Have a newspaper? Share your offers there. You might also consider running a Google Ads campaign.
Regardless of which online platform you adopt, be sure to create content that speaks to those customers, rather than just placing a basic ad on whatever website you can reach.
By creating content tailored to the platform your customers use, you’ll increase your chances of getting noticed as they scroll through endless web pages, feeds, or email inboxes. And, once you’ve got their attention, you can use that content to highlight your value proposition in an entertaining or interesting way.
For example, if you’re creating an ad for Instagram, it might be tempting to use an image from an ad you created for a website or newspaper, with an original caption.
But, it may not be as attractive to people scrolling through their feed in search of valuable product information or entertaining content. Instead, consider creating a short marketing video or a series of photos of customers with your product to better engage this audience.
Below is a great example of a Black Friday post that can also work well as an ad on Instagram. The post featured a video demo of someone from Hair Vivi wearing one of the brand’s wigs.
While the video shows viewers how easy the wig is to put on, the caption also highlights the product’s value and the company’s Black Friday deals.
4. Offer deals, sales or bargains.
Budget-conscious shoppers will be on the lookout for the best deals this holiday season. If you can offer a deal or sale on your product or offering, highlight that information in your ad.
Here’s a great ad from Walmart that highlights all the online deals they have to offer this year:
Along with the ad highlighting a bunch of great deals and options for Black Friday in-person sales, the ad is also interesting because it’s interactive online, but formatted so it can work as a static print ad if necessary. may also work.
In addition to the ad above, Walmart has created content for social media platforms like Facebook with a similar aesthetic and deal-oriented message. Here’s a screenshot of the featured content on its Facebook business page.
5. Adopt video marketing.
If you think video marketing is only for big brands, think again.
In our 2022 State of Marketing Report, we found that video is the dominant form of marketing material used across industries. And, with Gen-Z and Millennials embracing video for product discovery more than ever, this format becomes a low-hanging fruit every year.
Over the past year, we’ve seen brands small and large of all types cheaply adopt video to attract and grow leads.
Every Black Friday is an opportunity to learn more about your target audience. Pay attention to what works and what doesn’t, and look for trends that will help you improve your advertising strategy.
Editor’s Note: This blog post was originally published in December 2019 but was updated for freshness and comprehensiveness.