We scan new podcasts and send you the top 5 insights daily.
According to Shopify's President, novelty is unequivocally the most effective marketing tool, even over data-backed promotions. He cites Gymshark's Black Friday site shutdown as a prime example of a unique, interesting tactic that can generate more buzz and sustainable revenue than a standard percentage-off discount.
Instead of just a discount, companies like Magic Mind and AG1 boost conversions by bundling 'welcome gifts' like digital products or exclusive merch. This creates a unique, limited-time value that a simple percentage off cannot replicate, effectively sweetening the deal for customers.
To escape the noise of Black Friday, Set Active created 'Set Miss,' a branded sales event in December. This strategy helps them stand out from competitors by creating their own sales moment. The event has become so successful that it rivals or even surpasses their traditional Black Friday performance.
Instead of offering direct discounts, which can devalue products, consider a double or triple loyalty point event. This strategy incentivizes customers to spend more to earn future rewards, effectively driving sales while encouraging repeat visits and fostering long-term loyalty. It costs little while giving customers a strong incentive.
To be memorable, marketers should pivot from purely digital tactics to quirky, offline activities like pop-up stands or unusual collaborations. These offline events generate buzz that can be amplified online. If an idea doesn't seem slightly risky or unconventional, it's likely not bold enough to capture attention.
Marketing tactics have a short shelf-life. Once a strategy becomes mainstream, it suffers from "banner blindness" and loses effectiveness. The key is to constantly invent new, different, and even "unhinged" tactics—like Airbnb's Barbie DreamHouse—to stand out and achieve massive ROI.
Most marketing spend goes to third-party advertisers, providing zero direct value to prospects. A better strategy, especially early on, is to reallocate that budget to creative campaigns customers actually want, like high-end gifts or exclusive events, which builds a much stronger brand connection.
For the first time, Coach led its Black Friday and holiday season with brand messaging, not promotions. This reflects a conviction that building genuine brand desire reduces the need to compromise on price, even during peak sales periods, thus protecting brand value.
Tushy's BFCM ad strategy involves three layers: 1) Keep top-performing evergreen ads running as-is to capture momentum. 2) Create simple offer-based variations of those winners using text overlays. 3) Launch a diverse portfolio of net-new concepts to achieve 'horizontal scale' and find new winners.
While avoiding new products is the rule, an exception exists for a simple, low-cost offer. The strategic goal isn't profit, but customer acquisition. Getting someone to make a small purchase significantly increases their likelihood of buying higher-priced offers later.
Brands running one static Black Friday deal all November see consumer interest wane. The most successful brands introduce a significantly better offer on Thanksgiving evening, creating a massive revenue spike by tapping into learned consumer behavior of waiting for the best deal.