Digiday+ Research: Marketers are split on customer retention and acquisition heading into the holidays
It’s the most exciting time of year for discounts — and, many would say, the most important. And with brands and retailers treading the slippery slope of the economy, it’s difficult to discern what exactly is the best strategy for holiday discounts this year. Will retaining loyal customers or gaining new ones boost the bottom line? And will deeper or shallower discounts pay off in the end?
With Black Friday/Cyber Monday weekend wrapped up, Digiday+ Research took a look at who exactly brands and retailers are targeting with the promotions that are kicking off the holiday season. According to Digiday’s fall survey of 56 brand and retail professionals, marketers are split between targeting new and existing customers heading into the holidays.
Two groups being split on an issue is a phrase often used in data reporting, but in a very interesting occurrence, Digiday’s survey found that marketers are literally split 50/50 between focusing on customer retention and new customer acquisition heading into the holidays. Exactly 50% of brand and retail pros said existing customers are the primary audience for their holiday advertising, and 50% said new customers are their primary audience.
We already know that brands will use traditional and digital TV channels in their holiday marketing this year, and that they are reaching shoppers on Facebook and Instagram with Instagram poised to become even more important during the holiday season. And knowing who marketers’ target audience is for their holiday season efforts also begs the question: What kinds of discounts will those audiences see this year?
According to Digiday’s survey, most brand and retail pros think discounting is going to stay the same between this year and last year. Fifty-three percent of respondents said they expect holiday discounts to be about the same as 2021 this year, compared with 65% who said so last year.
But of those who think it will change, most expect holiday discounts will be shallower this year rather than deeper. Nearly a third (31%) of brand and retail pros said they expect 2021 holiday discounts to be significantly or somewhat deeper than their 2022 holiday discounts, while only 16% said they expect 2022 holiday discounts to be somewhat deeper than 2021 holiday discounts. Zero respondents to Digiday’s survey said they expect holiday discounts to be significantly deeper than last year.
Interested in sharing your perspectives on the media and marketing industries? Join the Digiday research panel.
Jose Cuervo Tequila celebrates UFC’s 30th anniversary with Kevin Holland, Stephen “Wonderboy” Thompson ads
Mexico-based Jose Cuervo, is the first tequila brand to be a direct advertiser of the UFC with spots featuring UFC fighters Kevin Holland, a Cuervo ambassador, and Stephen "Wonderboy" Thompson.
Benjamin Moore is using OOH near big-box retailers to say their paint isn’t there, encouraging people shop local
The 140-year-old paint brand wants to make sure people know that it is only available at local retailers.
With advertising in flux, Twitter is outsourcing ad monetization to ad tech
Since May 13, Twitter has been selling ad inventory through the mobile advertising marketplace Inmobi.
SponsoredHow agencies’ relationships with RMNs are continuing to evolve in 2023
Sponsored by Best Buy Ads As retail media networks proliferate, agencies are increasingly identifying RMNs as valuable opportunities for their brand clients as they seek quality audience data, meaningful reporting and insights, and authentic and engaging ad formats and creative. However, there are many options for them to work through as they select RMN partners. […]
Marketing Briefing: As Pride approaches, marketers should be ‘truly invested’ as marketing backlash continues
Marketers and agency execs say that this current moment will likely make clear the brands that are truly committed to supporting the LGBTQIA+ community and those that had simply made Pride an annual marketing moment.
Why Airbnb’s global head of marketing says in-housing agency critique is a fallacy
As the in-housing agency trend continues, Digiday talks to Airbnb about its strategy.