Windsor Circle gave the gift of insight during last week’s Retailer Series Webinar: Avoiding the Holiday Hangover. The latest webinar in the popular series featured panelist executives Jeff McRitchie from MyBinding, Paul Visgilio of Upper 90 Soccer, and Stephen Enfield from POS Supply. In addition to hearing last minute marketing strategies to close out the year, attendees learned how to kick off the year in the black by avoiding common Q1 obstacles. The diverse set of panelists also shed light on the “must-have” marketing campaigns of 2016 for both B2B and B2C companies.
Cyber Five Success
This year eCommerce experienced its biggest Cyber Five weekend (Thanksgiving Day - Cyber Monday) to date. And according to all of the panelists, advanced customer segmentation was what drove their marketing campaigns to success. Reaching last year’s holiday shoppers was the top priority for each.
Additionally, Upper 90 Soccer, which will exceed 20% of annual revenue during this holiday season, served dedicated deals and messages to first-time Cyber Five customers. The strategy proved successful as their campaigns experienced click rates as high 5.8%. Meanwhile, MyBinding tested geotargeting campaigns to segment customers by NFL team, allowing them to serve team-specific merchandise and deals. Jeff McRitchie mentioned that they were seeing early success and that MyBinding would continue testing new and creative campaigns in the coming year.
(MyBinding is using geotargeted campaigns to reach fans of NFL teams.)
Marketing Resolutions for the New Year
January is one the most critical months for retailers. Avoiding huge sales letdowns is always top of mind. But maintaining sales was only one of many challenges that the panelists will face in the new year. Depleted inventories, new software integrations and even the weather are all concerns that will need attention to ensure that 2016 starts off on solid footing. To combat these challenges, the common theme shared by each of the panelists was to test, test and then test some more.
Stephen Enfield mentioned that one of POS Supply’s top priorities would be testing ways to reduce shipping costs. Stephen is also looking forward to continued testing with automated replenishment campaigns. Jeff McRitchie at MyBinding echoed this sentiment, stressing that personalized timing and messaging are paramount with their marketing campaigns.
(Replenishment Automation has quickly become a “Must-Have” for POS Supply.)
Before concluding the webinar, the panelists took turns spotlighting evolving trends that will affect their industries in 2016. Paul Visgilio is looking forward to experimenting with social media more in the months to come. Upper 90 has had a lot of early success reaching audiences with paid advertising on Facebook, Twitter and Instagram. They’re hoping to build a larger social following by tapping into the loyal fanbases of the various soccer clubs. Early efforts have proved to be promising.
(Upper 90 is building a following by tapping into the loyal fanbases of various soccer clubs.)
Data management proved to be another popular topic for discussion. Stephen mentioned that POS Supply is currently exploring business intelligence solutions to help consolidate data into a digestible and actionable format. Jeff McRitchie added that they’re exploring ways to take data offline to help streamline MyBinding’s call center and direct mail programs.
Don’t Miss Out
Last week’s webinar has quickly become one of our most popular to date. To obtain a recording, please visit windsorcircle.com/hangovercure.
Happy holidays from Windsor Circle!