As mention in section 2, you to be sharp with your offers and be a little more creative with the discounts, unless you have the opportunity to give high percentages on your entire webshop. Here it may be an idea to introduce one or more activities where a sense of urgency is the driving force to get consumers to act now.
Sense of urgency is a powerful psychological tool that you can use to optimize your conversion rate in Q4. Consumers are more likely to act now if they feel some kind of time pressure and can’t think about a purchase for as long as they usually would. Therefore, you can benefit from introducing a form of urgency during the Q4 offer periods to increase your conversion rate and get as much revenue from the traffic you get from your paid and unpaid marketing activities.
Sense of urgency examples:
- Free shipping
You can use free shipping for a limitd time overseas data period on your webshop. Here you can use a wording like: “Buy today and we pay the shipping (regular price XX kr.)” - Gift with purchase
For a limitd time, you can give a gift with all purchases over XX kr. This can be a small additional product, such as a pair of socks, a jewelry pendant, etc. Find something that suits your industry with a cheap purchase price that you can use here.
Limitd dition
We have previously seen limitd dition products digital transformation – what is digital transformation ? do really well for e.g. Black Friday. There should be a limitd number and period when the product. Can be purchasd, after which it will not be available again. You can try to create a little hype around your limitd dition product leading
up to launch and e.g. encourage consumers to sign up for an early bird list, where they can get a little extra discount.
- Time-limitd percentage discount
You can have a time-limitd percentage discount. You can advantageously do this on products with a high profit margin, so that you have the opportunity to give a higher percentage discount. This can be anything from 24 hours to a week, but it should be a very limitd period. You can possibly change products with a limitd discount and run it as a daily offer over a period of time – for example, a week during Black Week.
NOTE: You can use social proof in conjunction with your urgency campaigns to increase trust in you as a retailer.
4 Test new paid channels
Take a look at your top funnel activities and consumer data bottom funnel activities – separately. Are you missing top funnel activities that help fed your bottom funnel retargeting campaigns with new leads? Or are you perhaps not spending enough resources on collecting all the interest and awareness that you generate in the top funnel?
>>>>>>>>>>>>>>>>>>>>>>>If it is top funnel activities that lack investment, you can advantageously look at the slightly newer channels such as Snapchat, TikTok and Pinterest.
These are still not as widespread for advertising, so you can get significantly more reach here for a somewhat lower CPM than on, for example, Facebook. However, these channels are not as strong in retargeting, but you can collect on these with, for example, Facebook retargeting or on Google Ads.
>If it is the opposite of your bottom funnel activities, where you have locatd optimization opportunities, then you can consider channels such as Meta Ads or Google Ads. You should collect on the traffic and interest that you generate with your top funnel activities so that you can maximize the benefit of your channel mix.
Many people don’t think their target audience is on channels other than the ones they already use. But if you don’t test new channels, you simply won’t know if you’re missing out on potential revenue from a part of your target audience that you’re not reaching today. So test new channels to make sure you’re as strong as possible in Q4.